Sunday 26 September 2021

Costa Rica’s software services industry now makes up 1.31% of GDP

Paying the bills

Latest

Government will buy one million more covid vaccines for children and third doses in 2022

QCOSTARICA - The President of Costa Rica, Carlos Alvarado,...

Don’t forget the vehicular restrictions

QCOSTARICA - If you are out and about this...

UNA epidemiologist: “We are not better, we are less worse”

QCOSTARICA - The fact that the number of infections...

Today’s Vehicle Restriction September 26: “ODD” ending plates CANNOT circulate

QCOSTARICA - For today, Sunday, September 26, vehicles with...

Canadian airlines will start flying back to Costa Rica on October 2

QCOSTARICA - Four Canadian airlines will resume their flights...

8-year-old boy dies abruptly of covid-19

QCOSTARICA - An eight-year-old boy who had no risk...

Vaccinations face unfounded fears over AstraZeneca dosages

QCOSTARICA - The goal of immunizing 500,000 people over...
Paying the bills

Share

news_1_6Costa Rica’s software service industry grew from 0.28% of GDP to 1.31% between 2002 and 2012, as reported by local paper El Financiero based on figures released by the country’s central bank.

In real terms, its contribution to GDP grew 594% in the same period – pulling in 21.8bn colones (US$43.9mn) in 2012. Growth has remained exponential and constant, with a peak of 54% in 2010 compared to 2009.

The rising value of the colón against the dollar and the entry of multinational IT and telecoms companies to Costa Rica both facilitated the industry’s growth, according to El Financiero. But high internal demand to improve domestic technology has also remained a major force – only 43% of software services production in 2012 was exported.

- Advertisement -

Income tax garnered from the industry rose 70% between 2008 and 2012 – from 2.44bn colones to 4.14bn colones. More Costa Ricans are seeking to enter the growing tech industries, with 9,256 Costa Rican university students choosing to study computing between 2006 and 2011. Between 2010 and 2012, software engineering attracted 2,615.

Overall, the industry now represents a quarter of the agricultural industry’s share (5.7%) and has surpassed coffee exports (1%).

- Advertisement -
Paying the bills
Ricohttp://www.theqmedia.com
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Government will buy one million more covid vaccines for children and third doses in 2022

QCOSTARICA - The President of Costa Rica, Carlos Alvarado, announced this...

Don’t forget the vehicular restrictions

QCOSTARICA - If you are out and about this weekend, keep...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.