Friday 24 September 2021

Information Technology Services Outperforms Tourism

Paying the bills

Latest

Legislators to begin discussion on reducing the 2022 Marchamo this Monday

QCOSTARICA - The political fractions, except that of the...

No National Census in 2022!

QCOSTARICA - The Instituto Nacional de Estadística y Censos...

Seven drivers a day go to the Prosecutor’s Office for driving drunk

QCOSTARICA - Every day, seven drunk drivers are referred...

Costa Rica has the lowest inflation in the region

QCOSTARICA - Costa Rica registered the lowest inflation in...

11 benefits of e-learning

Whether you struggle to learn in a traditional educational...

Will Paul Chaplet ever fly the flag for Costa Rica on the PGA Tour?

Life comes at you fast when you’re a teen...

What Are the Best Costa Rican Players in the MX League?

The Primera División de México, better known as Liga...
Paying the bills

Share

Costa Rica's IT sector outperfroms tourism, according to industry report
Costa Rica’s IT sector outperfroms tourism, according to industry report

(QCOSTARICA) Sales of technology services is outperforming tourism, due to the increasing demand for Costa Rican products.

According to the annual report by the Costa Rican Chamber of Information and Communication Technologies (Cámara de Tecnología de Información y Comunicación – CAMTIC), annual exports, excluding components, is about US$2.88 billion dollars.

- Advertisement -

CAMTIC says that the numbers is not surprising given that today some 47% of technology companies export, while in 2004 it was only 30%.

“The technology sector has become very strong. Today it represents 20% of the gross domestic product,” said Otto Rivera, director of CAMTIC.

CAMTIC figures indicate that the majority of the exporters (86%) have sales less than US$1 million dollars, with forecasts for growth in sales.

The United States is the major destination for Tico exports, followed by Panama and Nicaragua, according to the report.

As part of the internationalization process, 18% of Costa Rican companies have set up offices in other countries, increasing the potential placement for their products and services, while others (41%) do so by way of partners abroad and sales over the internet, among other channels.

However, the lack of financial resources es the main constraint of national companies to increase foreign sales. Companies need on average three years from start to its first export.

- Advertisement -

Following is the lack of exposure to international markets. This is where the PROCOMER – Costa Rica’s foreign promoter – plays an important role, supporting national businesses with programs to develop strategies for sales and marketing abroad.

In contrast to other sectors, such as tourism, the information technology sector is forecasting a significant increase in business for the coming year, says the report. Growth forecasts suggest that 80.9% of export companies increase sales, while 16.9% will remain the same and 2.2% will see a decrease.

Source: Larepublica.net; CAMTIC; Procomer

 

- Advertisement -

- 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

Costa Rica has the lowest inflation in the region

QCOSTARICA - Costa Rica registered the lowest inflation in the Central...

The sacrifices of Nicaraguans abroad fuel increased remittances

Q REPORTS - Mildred Duarte, 31, is exhausted. She wishes she...

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.