Narayan AmmachchiDespite a global decline in foreign direct investment (FDI) in 2024, Costa Rica successfully attracted 21 new companies, generating over 5,500 jobs as existing businesses expanded their operations and injected fresh capital into the economy.
The country remains a key destination for multinational firms establishing service centers. Of the 21 new investors, 14 companies — representing 67% of the total — belonged to the services sector. Life sciences accounted for 19% of new investments, while advanced manufacturing and tourism saw two and one new projects, respectively.
“While Costa Rica continues to attract investment, shifting global dynamics demand that we remain proactive in training talent and enhancing the business climate,” said Marianela Urgellés, Managing Director of CINDE, the country’s investment promotion agency.
Corporate services led reinvestment activity, with 33 projects, followed by life sciences (14) and manufacturing (5). In terms of employment, companies supported by CINDE created 5,482 net jobs, with life sciences driving the most significant job growth — adding 2,599 positions, nearly 50% of the total new employment.
However, FDI growth in Costa Rica has shown signs of slowing in recent years. Job creation remains below 2020–22 levels, with only 27% of the net jobs recorded during that period. CINDE acknowledged in a press release that this trend requires close monitoring.
Costa Rica also faces growing competition from neighboring countries for FDI, alongside policy shifts in the United States and the European Union that pose additional challenges.
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