Minority Chamber plans trade mission to San José

The Minority Chamber of Commerce kicks off the first U.S. trade mission to Costa Rica, this week.  The mission’s goals include increasing export opportunities for U.S minority companies, investors recruitment and advocacy on behalf of the chamber’s international programs. 

An estimated 20 U.S. minority companies will have a chance to explore new opportunities in Costa Rica, and will gain firsthand market experience through meetings with key government officials and potential business partners, said the chamber.

The objective of the mission is to assist U.S minority exporters and importers in establishing representatives in Costa Rica, said the chamber, adding that this is because many of these firms do not have the resources or experience to go into the international marketplace and locate a representative without assistance.

“Costa Rica’s economic growth rate rose by 6.8 percent and their commercial development is diversified with tourism/hospitality services, information technology, and medical equipment/instrumentation taking prominent roles," said Doug Mayorga, national director for the Minority Chamber of Commerce.

The trade group will be headquartered at the Hotel Radisson Royal, said the Miami-based chamber.

The chamber also said it was opening a trade office in Escazú as of March 20 in the HSBC building near Muiltiplaza.

Special to A.M. Costa Rica

$1 Billion Dollar National Face-lift

Costa Rican roads, trains, ports and airports will be getting a billion dollar face-lift, government officials said Monday. A regional development bank has granted Costa Rica a loan of $850 million and the government will add $200 million to that for a total infrastructure investment of one billion dollars.

Funds will be put to work immediately. The minister of transportation, Karla Gonzalez, said the highway stretching between Manuel Antonio National Park and Dominical Beach will be completed by 2009.

The loan is also meant to help airports. Ms. González said that funds would mainly go to the new international airport in the southern region near Palmar since the airport in Libería already is receiving funds from other sources.

This bodes well for all of us currently invested in the Southern Zone. For those of you that may still be on the fence, act now! Dominical is soon to be one of the hottest tourist destinations in Costa Rica and once the road is paved between Quepos and Dominical, property values are guaranteed to rise and rental incomes will be strong and steady.

By Elise Sonray; A.M. Costa Rica staff

Top 10 Reasons to Invest in Costa Rica

Costa Rica is racing to become the first developed nation in Latin America and is receiving help from FDI in the amount of over $1.1 billion per year (2006).

In Hotel Development, noted, savvy investors such as HRH Prince Al Waleed bin Talal bin Abdulaziz Al Saud, Steve Case, and Ross Perot have already established projects, while Tiger Woods and Donald Trump are rumored to be in discussions.

President Arias says ‘there is far more potential for growth.’ Scotia Bank, G.E. Capital, HSBC and Citibank have all recently purchased stakes in various Costa Rican banks. High-Tech Companies such as Intel, Boston Scientific, Hewlett Packard, Hospira, and Procter & Gamble have established offices and factories in Costa Rica.

1. Strategic Location. As little as 2 1/2 hour from the U.S., Costa Rica is located at the center of the Americas, with 2 major airports excellent airlift as well as 2 ports providing easy interna-tional access from either coast.

2. Political Stability=Safe Investment. Costa Rica has a long democratic and world-renowned tradition, which has more than 115 years of history. Such respect for political and peace processes was evidenced by the abo-lition of the military in 1948 and acknowledged internationally in 1987 when then-President of the Republic, Oscar Arias Sanchez, was awarded the Nobel Peace Prize.The last World Bank survey for Global Governance Indicators showed Costa Rica as 1st within Latin America for political stability and lack of violence.

3. Low Construction Costs. It’s relatively easy to develop in Costa Rica. A good work force comes at a fairly low cost compared to that of the U.S. A home costing $150 per square foot to build in Costa Rica would cost $500 per square foot to construction in L.A. or Miami. DUBAI?!!

4. Land Ownership by Foreigners. Unlike in Mexico and other coun-tries, the Costa Rican Government allows foreign investors to hold fee simple title land.

5. Favorable Investment Incentives. President Oscar Arias Sanchez and his government offer several incen-tives, tax and otherwise, for for-eign investment.

6. Low Taxes. Under Costa Rican tax law, you must declare the value of your home to the Costa Rican Municipal Government every 5 years. An annual flat rate of 0.25% is charged, calculated on the declared land and structure value combined.

7. Good Trade Access to Markets. Costa Rica has easy access to markets worldwide through several free trade agreements. Most recently, the Central America Free Trade Agreement (CAFTA) between Costa Rica, the United States, El Salvador, Guatemala, Nicaragua, Honduras and the Dominican Republic is rati-fied after a majority of Costa Ricans voted in favor of the measure on October 7, 2007. Costa Rica is also working to become a full member of the Asia-Pacific Economic Cooperation Forum (APEC) after being an observer since to 2004

8. Advanced Infrastructure. Costa Rica has 2 major ports, 157 airstrips, and 2 international airports. The main airport (Juan San-tamaria) is 15 km from San Jose and the second (Daniel Oduber is located in the northern part of the country in Liberia, Guanacaste. Both airports have been approved Class 1 by the Federal Aviation Administration of the USA. Also, Costa Rica has favorable infrastructure for development with 97.04% national electricity coverage, 99% urban potable water coverage (92% rural), 34.3 fixed telephone line per 100 inhabitants, and 933.63 Internet users per 10,000 inhabitants.


9. Educated Workforce. Universal public education provides highly qualified, bilingual human resource availability with a range of skills in architecture, engineering, environmental consultants specialized in hotel development, hotel management, culinary skills, among many others.

10. Excellent Quality of Life. According to InternationalLiving.com’s 2008 Quality of Life Index, Costa Rica ranks 26th overall out of 193 countries, ahead of even Sweden and the UK. Costa Rica has achieved the highest education and health levels in Latin America and has reduced poverty from 40% to 20% over the last 20 years

Óscar Arias Sánchez keynote speaker at the Inter-American Peace Forum

Costa Rica's president was in Washington DC yesterday where he pushed his three favorite initiatives:

First, he promoted his plan to have developed countries forgive the debt of those developing nations that reduce military spending and spend more on social development.

Secondly, he promoted his initiative to create a treaty over the transfer of weapons throughout the world. His arms treaty, if approved by the United Nations and various countries in the world, would provide a mechanism for keeping better track of where weapons are being sold. Considering the current world economic crisis, Arias is unlikely to get many national debts forgiven, although he made a strong pitch in Spain last week for a $35 million deal. The United States has forgiven $26 million.

Lastly, Arias promoted his Peace with Nature plan and noted that Costa Rica now is a country with more trees per capita and per square kilometer than any other in the world, and that Costa Ricans planted five million trees in 2007 and propose to plant seven million in 2008. He is seeking more funds for conservation here.

Arias was the keynote speaker at the new Peace Forum, and some suggested that this is where he would head when his term finishes in May 2010.

Taken from AM Costa Rica, www.amcostarica.com, 9/24/08, pg 1

Costa Rica is affordable even for low-budget folks

AM Costa Rica just posted an informative article about the cost of living in Costa Rica. Please go to our website to read the entire article. http://www.kimspearinternational.com/

Here are some quick stats taken from the article:

-Cell Phones cost about $8.10 a month. A land line will cost $5.88 a month

-Basic Internet hookup can be had for $28.25 a month. A cable hookup can cost about $18 for basic service.

-Milk is $2.61 per gallon.

-The best seats in the Teatro Nacional for a major orchestra performance can is about $14.60. The cheap seats are $5.50 and all tickets are subject to a 10 percent discount for senior citizens.

-The bus fare from San José to Tamarindo on the far Pacific coast is $6.23. That's nearly an all-day ride. And in the city few routes are more than 45 cents.

-The first kilometer of a taxi ride is about 77 cents. Additional kilometers in the city are 69 cents.

-Electricity: The current rate is 8 cents for each kilowatt for the first 200 kilowatts of use. Each of the next 100 kilowatts is 12 cents.

-Then there is FREE...all the country's beaches from high water to 50 meters inland, the parks, and frequent entertainment.

-Expats find they can obtain very reasonable health insurance from the only provider, the Instituto Nacional de Seguros. Some group plans reduce the cost even more.

The Next President: A World of Challenges

Last week I was fortunate enough to attend the video production of The Next President: A World of Challenges. This program, produced by CNN and AMA, featured 5 former secretary of states, listed below. The program will air this Saturday on CNN at 9:00 p.m. Eastern Time. Please watch/tape it, as it was a very profound conversation between the secretaries, spanning topics such as climate change, Russia's growing power, the Middle East "problem," and personal feelings about the overall state of our union. The moderators were Christiane Amanpour and Frank Sesno.

Due to the power of networking, I was able to obtain front row seats to the filming. Excuse the quality of the photos, as I was so overly excited to see Christiane that I couldn't keep a still hand!

For more information go to: http://www.cnn.com/CNN/Programs/

Henry Kissinger 56th Secretary of State under Richard Nixon and Gerald Ford
James Baker 61st Secretary of State under George H. W. Bush
Warren Christopher 63rd Secretary of State under Bill Clinton
Madeleine Albright 64th Secretary of State under Bill Clinton
Colin Powell 65th Secretary of State under George W. Bush

KSI August 2008 Discovery Weekend A Great Success!

Our August 2008 KSI Discovery Weekend is now history…but WHAT A GREAT SUCCESS! 5 days filled with fun activities, good food, and plenty of adventures. Those who joined me last month were able to fully experience and enjoy the Costa Rican lifestyle, as you can see below.

“Thank you so much for such a memorable experience with such wonderful people! Hope we'll have more of these adventures together.”…M.I.

“I had such a wonderful time in Costa Rica. The country and its people are none less then exceptional, but what made it a memorable & enjoyable trip was the excellent company of friends there.” …H.I.

The KSI Discovery Group participated in exclusive, one-on-one tours of Costa Rica’s most distinguished properties (some of which were lead by the actual developers!). From golf cart guided tours of Los Suenos, to horseback tours at Del Pacifico, and the 4 wheeling tour at Cabo Caletas, the property tours themselves were quite a unique and fun way to explore the developments.


“I am really excited about an investment opportunity out there…” …P.B.

2008 has been a remarkable year for Costa Rica. Tourism is up 16%, and companies such as Amazon, Boston Scientific and Intel have expanded their work force to incorporate thousands of Costa Rica’s highly educated populace. Costa Rica ranked 2nd in Latin America in terms of the best country for business and trade; and just last month Costa Rica secured an $850 million loan slated for infrastructure. Current real estate trends in Costa Rica are up, reflecting positive cash flows and increased appreciation on properties. All of this makes for incredible investment opportunities!


“Since returning, my wife has said that Costa Rica is all I've talked about. Between Krista's enthusiasm for the country and my pictures, stories, reasons why it would be good investment for us, she is considering a trip to see (Costa Rica) by herself…In any event, this past weekend was a unique experience for me, one I will never forget, and for which I sincerely thank you.” …M.B.