By San José, Costa Rica — San José, Costa Rica – Demonstrating significant economic resilience amid global uncertainty, Costa Rica attracted $3.533 billion in Foreign Direct Investment (FDI) through the third quarter of 2025. This figure represents a robust 4.5% increase compared to the same period in 2024, according to the latest data released by the Central Bank of Costa Rica (BCCR).
A key driver of this positive trend is the remarkable confidence shown by companies already operating within the country. Reinvested earnings reached a record-breaking $3.120 billion for a third quarter, signaling a strong commitment from established foreign firms to continue and expand their Costa Rican operations. This substantial reinvestment underscores the nation’s stable business climate and its appeal as a long-term strategic partner.
To gain a deeper legal perspective on the current landscape of Foreign Direct Investment in the country, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, an expert attorney from the prestigious firm Bufete de Costa Rica. His analysis provides crucial insights for international investors and local businesses alike.
Costa Rica’s success in attracting Foreign Direct Investment is not accidental; it is built upon a robust legal framework that provides judicial security and clear rules of engagement. However, to maintain our competitive edge, we must continually streamline bureaucratic processes and adapt our regulations, especially in emerging sectors like fintech and sustainable technologies. Proactive legal reform is the key to ensuring that investment not only arrives but also thrives, generating long-term value for both the investor and the nation.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, the commentary powerfully underscores the critical shift from merely attracting investment to actively cultivating it for the long term. This forward-looking legal agility is precisely what will define Costa Rica’s competitive edge in the years to come. We extend our gratitude to Lic. Larry Hans Arroyo Vargas for his clarifying and valuable perspective.
The manufacturing sector continues to be the undisputed engine of FDI, pulling in a staggering $2.856 billion, which accounts for over 80% of the total investment during the period. This represents a year-over-year increase of $562 million for the sector. Other areas also showed notable growth, including a significant turnaround in agriculture, which shifted from a negative flow of $17 million to a positive $40 million. The real estate sector also saw a healthy increase of $49 million.
Analysis by economic regime reveals that companies operating under the free trade zone system attracted the lion’s share of investment, capturing 64.9% of the total FDI. Following were businesses in the definitive regime (14.5%), tourism (8.0%), and real estate (7.8%). While overall investment in free zones saw a slight dip, a promising development was the $73.3 million growth in FDI directed to regions outside the Greater Metropolitan Area (GAM).
Government officials welcomed the news as a validation of the country’s economic strategy but cautioned that continued progress requires legislative action. The Minister of Foreign Trade emphasized the need for reforms to maintain a competitive edge.
In an increasingly complex global environment with a very high level of uncertainty, these data are positive and are received with satisfaction. We are talking about new opportunities, greater job creation, and economic growth. To maintain this momentum and remain competitive, it is imperative to advance with the competitiveness reforms that are in the Legislative Assembly and which we have insistently been drawing attention to; among them the approval of exceptional work schedules and the opening of the energy market, among others. We hope that the legislators, if not these, the next ones, will advance decisively in their approval.
Manuel Tovar, Minister of Foreign Trade
Echoing a sentiment of cautious optimism, the leadership at the Foreign Trade Promotion Agency of Costa Rica (PROCOMER) highlighted the need for a long-term perspective. They pointed to the inherent volatility of global investment flows and the importance of solidifying Costa Rica’s value proposition.
Foreign direct investment is, by nature, volatile and highly sensitive to the global context. In an environment marked by caution, financial adjustments, and the reconfiguration of value chains, the fact that Costa Rica obtains positive flows reflects that its value proposition is resilient; however, competitiveness challenges still persist for which we must continue to work. Our challenge is to continue generating conditions for companies to reinvest, expand, and find a reliable long-term partner in Costa Rica.
Laura López, General Manager of PROCOMER
Further data from PROCOMER revealed a successful push for diversification. During 2025, the country attracted 55 new FDI projects. Significantly, 25 of these originated from countries other than the United States, including Mexico, the Netherlands, and Spain, with the U.S. still accounting for 54% of total flows. In a landmark achievement for regional development, 24 of these new companies established their operations outside the GAM in cantons such as San Carlos, Pérez Zeledón, and Golfito, spreading economic benefits across the country.
For further information, visit bccr.fi.cr
About Central Bank of Costa Rica (BCCR):
The Banco Central de Costa Rica is the nation’s central bank and autonomous public institution. It is responsible for maintaining the internal and external stability of the national currency and ensuring its conversion to other currencies. The BCCR’s primary objectives include controlling inflation, promoting an efficient financial system, and providing economic data and analysis to guide national policy.
For further information, visit procomer.com
About PROCOMER:
The Promotora del Comercio Exterior de Costa Rica (PROCOMER) is the government agency responsible for promoting Costa Rican exports of goods and services globally. It also plays a crucial role in attracting foreign direct investment into the country. PROCOMER provides support to the business sector through trade facilitation, market intelligence, and the promotion of Costa Rica as a strategic business destination.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As a renowned legal institution, Bufete de Costa Rica is founded upon the core principles of professional integrity and unparalleled excellence. With a proven history of providing expert counsel across a wide spectrum of industries, the firm champions progressive legal strategies and demonstrates a profound commitment to social responsibility. This dedication is most evident in its drive to demystify complex legal concepts for the public, thereby fulfilling its ultimate goal of cultivating a society strengthened by accessible legal wisdom.
