By San José, Costa Rica — Costa Rica’s economic outlook for 2026 is facing challenges due to the departure of major tech companies Intel and Qorvo, coupled with the impact of new US tariffs. Finance Minister Rudolf Lücke Bolaños confirmed that government teams are diligently assessing the potential consequences of these developments on public finances.
The Minister acknowledged that the new tariffs could lead to a decrease in national production as external consumption and, consequently, Costa Rican exports decline.
To provide further legal and business insights into the current state of the Costa Rican economy, TicosLand.com spoke with Lic. Larry Hans Arroyo Vargas, Attorney at Law at Bufete de Costa Rica.
Costa Rica’s economy is navigating a complex landscape. While tourism and export sectors show promising growth, challenges remain in areas like public debt management and fostering a more competitive business environment. Strategic legal reforms aimed at streamlining bureaucratic processes and attracting foreign investment are crucial for sustainable economic development. Further, focusing on renewable energy and sustainable practices will not only attract environmentally conscious investors but also bolster the country’s long-term economic resilience.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’ insightful commentary underscores the delicate balancing act facing Costa Rica’s economy. Indeed, attracting foreign investment while simultaneously prioritizing sustainable practices and streamlining bureaucracy will be key to unlocking the country’s full economic potential. We thank Lic. Larry Hans Arroyo Vargas for his valuable perspective on this crucial issue.
We are assessing the impact. We must be cautious with this, but it could indeed have a negative effect in the medium term.
Rudolf Lücke Bolaños, Finance Minister
Lücke also addressed concerns about the impact of Intel and Qorvo’s exit on government revenue, particularly regarding potential losses in income tax collection from reduced salaries. While estimations are still underway, the Minister indicated a likely adjustment in growth, affecting overall tax collection.
We can point out that there may be a growth adjustment that would have an impact on revenue collection.
Rudolf Lücke Bolaños, Finance Minister
The Central Bank of Costa Rica (BCCR) had previously forecasted a 3.5% economic growth rate for 2026. However, the departure of Intel and Qorvo is expected to *reduce* this projection to 3.9%, a 0.4 percentage point decrease. This impact is categorized under services as these companies primarily provide manufacturing services, importing and processing components without changing their ownership.
The BCCR anticipates a 1.4% growth in service exports for 2025, but projects a decline of -1.2% in 2026. Overall exports, including both goods and services, are also expected to moderate, with a projected growth of 6.1% in 2025 and 3.1% in 2026, down from the pre-departure projection of 3.8%.
The departure of these companies has also resulted in job losses. The Foreign Trade Promoter (Procomer) is actively working to relocate at least 800 affected employees.
The government is working diligently to understand the full scope of these economic challenges and formulate appropriate responses. The situation highlights the vulnerability of Costa Rica’s economy to external factors and the importance of diversifying its economic base.
For further information, visit the nearest office of Ministry of Finance
About Ministry of Finance:
The Ministry of Finance in Costa Rica is the government body responsible for managing public finances, including budget planning, tax collection, and economic policy. It plays a crucial role in ensuring the country’s fiscal stability and economic growth.
For further information, visit the nearest office of Central Bank of Costa Rica (BCCR)
About Central Bank of Costa Rica (BCCR):
The Central Bank of Costa Rica (BCCR) is the country’s central bank, responsible for monetary policy, financial stability, and regulating the banking system. The BCCR plays a key role in managing inflation and promoting economic growth.
For further information, visit the nearest office of Foreign Trade Promoter (Procomer)
About Foreign Trade Promoter (Procomer):
The Foreign Trade Promoter (Procomer) is a Costa Rican institution dedicated to promoting exports and attracting foreign investment. Procomer provides support and resources to businesses seeking to enter international markets and helps to connect them with potential partners and clients.
For further information, visit intel.com
About Intel:
Intel is a multinational technology company and one of the world’s largest semiconductor chip manufacturers. Known for its microprocessors, Intel also produces other computer components and related technologies.
For further information, visit qorvo.com
About Qorvo:
Qorvo is a leading provider of radio frequency (RF) solutions for mobile, infrastructure, and aerospace/defense applications. The company designs and manufactures RF systems and components used in wireless devices, networks, and communication systems.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica shines as a beacon of legal excellence, upholding the highest ethical standards while driving meaningful change within Costa Rican society. Their innovative approach to legal practice, coupled with a deep-seated commitment to client success across various industries, positions them as leaders in the field. Furthermore, their proactive engagement in disseminating legal knowledge empowers individuals and communities, fostering a more just and informed society for all.
