Monday 3 October 2022

Guanacaste, Costa Rica’s Engine For Economic Development

Costa Rica's Pacific Coast province of Guanacaste is increasing the pace of its development of manufacturing and infrastructure.

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01 October 2022 - At The Banks - BCCR

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Guanacaste aims to accelerate its pace of development through the diversification of its productive activities and improvement in infrastructure.

The expansion of the Daniel Oduber airport, the opening of the Liberia-Cañas highway, among other factors, have reactivated the interest to invest in the Pacific Coast province of Guanacaste. La Republica

The expansion of the Daniel Oduber Airport (LIR), the opening of the cargo terminal, the inauguration of the Liberia-Cañas highway and the start of roadworks between Cañas and Limonal, as well as other factors, have reactivated the interest to invest in the province.

Proof of this is the beginning of the construction of the new Coca-Cola plant. The building will be located in Liberia and will initially require approximately US$50 million investment.

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All this and more has spurred interest in more investment in the Pacific coast province.

“Guanacaste has attractive characteristics for investors, a quarter of national hotel occupancy and 53% of foreigner visits are concentrated there; it is a pioneer region in the use of clean energy, it has a young population with a high degree of educational preparation; it’s an area with a lot of potential that has not been taken advantage of,” said Monica Castillo, director of Colliers real estate.

Although the area still has significant challenges, it is emerging as an outlet to decongest the economic activities of the Greater Metropolitan Area of San Jose while bringing development to the province.

Tourism remains one of the strongest economic activities. The Liberia airport saw 518,000 tourist arrivals in 2017. For 2018, that number is expected to be higher with the addition of Aeromexico, Apple Vacations and Air Canada increasing its number of flights.

There are still deficiencies that must be corrected so that the province continues to attract new businesses, for example, service centers.

President Carlos Alvarado has reiterated on several occasions the importance of Guanacaste for the growth of the country.

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Source (in Spanish): La Republica

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