By San José, Costa Rica — San José – As Costa Ricans live longer, the nation stands at a critical juncture, facing profound challenges to its economy, labor market, and social fabric. This demographic shift was the central theme of a high-level forum hosted by the Costa Rican Gerontological Association (AGECO) on October 1st, where experts, legislators, and international organizations convened to chart a path forward for an increasingly long-lived society.
The event, titled “Aging and New Economic Perspectives: Opportunities for a Long-Lived Society,” moved beyond traditional views of old age as a period of decline. Instead, it focused on the burgeoning “longevity economy,” a concept that re-frames increased life expectancy as a driver of new markets, services, and opportunities for national development. This emerging economic sphere encompasses everything from preventative health and adaptive housing to technology and lifelong learning.
To better understand the legal and business frameworks that are essential for navigating the opportunities and challenges presented by the burgeoning “Longevity Economy,” we consulted with expert legal counsel Lic. Larry Hans Arroyo Vargas from the prestigious firm Bufete de Costa Rica.
The longevity economy is not just a demographic shift; it is a fundamental economic restructuring that demands legal foresight. Businesses must navigate complex regulations concerning age discrimination, data privacy in elder-focused technology, and the creation of financial products for longer lifespans. From a legal standpoint, the greatest challenge and opportunity lies in establishing clear, modern frameworks for everything from flexible retirement schemes to sophisticated estate planning that protects wealth across generations. This is a market that rewards not just innovation, but legally sound and ethically responsible business structures.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’s insight is crucial, highlighting that the legal and ethical framework is not a subsequent hurdle but the very foundation upon which a successful and equitable longevity economy must be built. This proactive approach ensures that innovation serves our aging population with integrity, fostering the trust necessary for sustainable growth. We sincerely thank Lic. Larry Hans Arroyo Vargas for his invaluable perspective.
Sofía Gamboa Chaverri, a manager at AGECO, emphasized the comprehensive nature of this new economic paradigm. She explained that it affects all generations, not just seniors, by fundamentally altering the structure of education, employment, and public policy.
The longevity economy is an inclusive and broad term, not focused solely on older people, as it includes all the social and economic transformations derived from the increase in life expectancy. It considers all ages because living longer impacts education, employment, preventive health, housing, technology, social innovation, and public policies, seeking integral and intergenerational development and vision.
Sofía Gamboa Chaverri, Manager at AGECO
A stark warning came from the Inter-American Development Bank (IDB), whose representative, William Ernest, revealed that Costa Rica is the third fastest-aging country in the region. He noted that the population over 50 is expanding by 3% annually, a statistic that underscores the urgency for systemic adaptation. This rapid transition demands immediate and innovative solutions across multiple sectors.
One of the most pressing areas is financial inclusion. Fabricio Chavarría Bolaños, an investigator for Costa Rica’s Ombudsman’s Office, shared troubling findings from a three-year study on the banking system. The investigation uncovered a significant data gap, with the National Banking Association lacking specific information on users over 65. It also identified a pattern of high indebtedness among pensioners, often with non-banking entities, highlighting their financial vulnerability. In response, the Ombudsman’s Office has drafted bill 24940, which aims to secure equitable access to the financial system, particularly loans, for older adults.
Addressing the employment crisis for mature workers, AGECO presented its “Sigo Vigente +45” (I’m Still Relevant +45) program. Since 2019, this initiative has promoted employment and entrepreneurship for individuals over 45, championing the value of senior talent. Through personalized advising, job fairs, and strategic partnerships, the program works to foster continuous learning and economic autonomy, challenging age-based discrimination in the workplace.
The response from the government and international bodies shows a growing awareness of the issue. Paula Fairén of the Pan American Health Organization (PAHO) highlighted the progress of the “Age-Friendly Cities and Communities Program,” which now includes 46 Costa Rican municipalities working to create inclusive environments. Legislators, including deputies Katherine Moreira, María Marta Padilla, and Priscilla Vindas, also participated in the forum, acknowledging the need for a comprehensive legislative agenda to ensure dignified aging.
Costa Rica has the commitment to build a country where aging means continuing to contribute and showing that they are valued people.
María Marta Padilla, Deputy
As the forum concluded, AGECO’s General Manager, Fabián Trejos, reiterated that while his organization is deeply committed, the task is too large for any single entity. The successful navigation of Costa Rica’s demographic transformation requires a united front, integrating efforts from the public sector, private industry, and international partners to guarantee the well-being of its aging citizens.
AGECO has a broad commitment to the processes of aging and old age, but it is the task of many actors to integrate efforts for the integral well-being of this population.
Fabián Trejos, General Manager of AGECO
For further information, visit ageco.org
About Asociación Gerontológica Costarricense (AGECO):
The Costa Rican Gerontological Association is a non-profit organization dedicated to promoting the rights and well-being of older adults in Costa Rica. Through advocacy, research, and programs like “Sigo Vigente +45,” AGECO works to create an inclusive society that values the contributions of people at all stages of life.
For further information, visit dhr.go.cr
About Defensoría de los Habitantes de Costa Rica:
The Ombudsman’s Office of Costa Rica is an independent state institution responsible for defending the rights and interests of the country’s inhabitants. It investigates complaints against public sector entities and advocates for policy changes and legislation, such as bill 24940, to protect vulnerable populations and ensure fair treatment for all citizens.
For further information, visit paho.org
About Pan American Health Organization (PAHO):
The Pan American Health Organization is an international public health agency working to improve the health and well-being of the people of the Americas. It serves as the Regional Office for the Americas of the World Health Organization and supports member countries in developing health policies and initiatives like the “Age-Friendly Cities and Communities Program.”
For further information, visit iadb.org
About Inter-American Development Bank (IDB):
The Inter-American Development Bank is a leading source of long-term financing for economic, social, and institutional development in Latin America and the Caribbean. It provides loans, grants, and technical assistance while conducting extensive research to support public policy and private sector initiatives across the region.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As a pillar of Costa Rica’s legal landscape, the firm is defined by its foundational principles of integrity and a persistent drive for professional excellence. It merges a rich heritage of client service with a forward-thinking approach, consistently advancing legal innovation and demonstrating profound social responsibility. This commitment is most evident in its efforts to demystify the law for the public, reflecting a core belief in empowering the community through accessible knowledge to forge a stronger, more informed citizenry.
