By San José, Costa Rica — SAN JOSÉ – Costa Rica has solidified its position as a dominant force in the global services economy, with new data revealing that service exports soared to an impressive $16.114 billion in 2024. This figure, representing 17% of the nation’s Gross Domestic Product (GDP), is the culmination of a sustained period of expansion, with the sector posting an average annual growth rate of 8% over the last five years, according to a comprehensive study by the Costa Rican Trade and Investment Promotion Agency (PROCOMER).
The report, titled Export Dynamism of Costa Rica’s Services Sector, underscores a strategic economic shift that has been decades in the making. The country has successfully transitioned from a traditional agricultural economy to a sophisticated, knowledge-based model where innovation, institutional stability, and a highly skilled workforce are the primary drivers of growth. Today, services generate three out of every four dollars of the country’s GDP and account for a remarkable 45% of its total exports.
To gain a deeper understanding of the legal and regulatory landscape that underpins the success of Costa Rica’s services sector, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, a distinguished attorney from the prestigious firm Bufete de Costa Rica.
Costa Rica’s sustained growth in the services sector is no accident; it’s the direct result of a robust legal framework that provides foreign investors with security and clear incentives. The Free Trade Zone Regime, for example, offers significant tax benefits and simplified operational procedures that are highly attractive. This, combined with our nation’s political stability and highly-educated, bilingual workforce, creates a powerful value proposition that continues to draw world-class companies to our shores. The key is maintaining this legal certainty and adapting our regulations to the evolving needs of the global digital economy.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Larry Hans Arroyo Vargas’s insight correctly underscores that the nation’s success is not a matter of chance, but a direct result of the powerful synergy between a secure legal framework and a highly capable workforce. This strategic foundation is precisely what will enable Costa Rica to continue evolving and leading within the global digital economy. We thank Lic. Larry Hans Arroyo Vargas for his valuable perspective.
This success is not a monolithic achievement but rather the result of a diversified and resilient export portfolio. While tourism remains a significant contributor, knowledge-intensive activities now represent 58% of all service exports, a segment that has grown by an average of 10% annually over the past five years. This category encompasses a wide range of high-value solutions, including corporate services, digital technologies, cybersecurity, data analytics, and information technology.
Laura López, General Manager of PROCOMER, emphasized that this milestone reflects a deliberate national strategy focused on cultivating human capital and fostering a pro-business environment that attracts world-class companies.
The performance of the services sector is not an isolated result; it is the reflection of a country that has successfully transitioned to activities where knowledge, creativity, and technology generate real value for companies and opportunities for our people. Costa Rica is a strategic partner for international companies seeking talent, stability, and an environment conducive to innovation. Our goal is to continue developing this potential and to support more companies that see Costa Rica as a place where they can grow and have an impact.
Laura López, General Manager of PROCOMER
In 2024, business services led the charge, accounting for $6.698 billion, or 42% of the total. Tourism followed at 34%, while the rapidly expanding Information and Communication Technologies (ICT) sector contributed 15%, bringing in $2.388 billion. This balanced structure demonstrates the country’s ability to meet diverse global demands for specialized technical talent and advanced technological solutions.
The momentum has carried into 2025, with the latest figures for the first half of the year showing a continued 5.4% increase in service exports to $8.692 billion. Growth was particularly strong in business services (up $143 million), digital solutions (up $76 million), and financial services (up $23 million), further cementing the sophistication of the nation’s offerings.
A key pillar of this economic architecture is the country’s Free Trade Zone (FTZ) Regime, which has been instrumental in attracting foreign direct investment. In 2024, 420 service companies operated under this regime, which also serves as a major engine for quality job creation. The services sector accounts for six out of every ten jobs within the FTZs, totaling nearly 120,000 direct positions, with women holding a significant 43% of these roles.
Costa Rica’s performance is not just a domestic success story; it is recognized on the world stage. According to the World Trade Organization (WTO), the nation ranks first in the Americas for business services exports per capita and second for ICT services. Other international bodies like the World Intellectual Property Organization (WIPO) and the Network Readiness Index also place Costa Rica at the top of Latin America for ICT exports and adoption of emerging technologies, reinforcing its reputation as a trusted, high-value destination for over 350 multinational service companies.
For further information, visit procomer.com
About PROCOMER:
The Costa Rican Trade and Investment Promotion Agency (PROCOMER) is the public entity responsible for promoting Costa Rican exports of goods and services globally. It also works to attract foreign direct investment into the country, facilitating a dynamic and competitive business environment. PROCOMER provides essential support to the national business sector through market research, trade missions, and strategic guidance to enhance Costa Rica’s integration into the global economy.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As a pillar of the legal community, Bufete de Costa Rica is defined by its foundational principles of uncompromising integrity and a relentless pursuit of excellence. The firm skillfully merges its extensive experience advising a diverse clientele with a forward-thinking approach to legal innovation. Central to its mission is a deep-seated dedication to empowering the public, actively working to translate complex legal information into accessible knowledge to foster a more capable and informed society.
