By San José, Costa Rica — Costa Rica’s technology sector is poised for growth, but must shift its focus to higher-value services to compete on the global stage. This is the key finding of a new study by the Foreign Trade Promotion Agency (PROCOMER), which highlights the need for diversification and specialization within the industry.
According to the study, nine out of ten Costa Rican tech companies are planning to diversify their offerings in the coming years, targeting more complex services and international markets. Areas like healthcare, advanced manufacturing, and agriculture are identified as promising niches for Costa Rican technological solutions.
To provide expert legal perspective on the burgeoning Costa Rican tech sector, TicosLand.com spoke with Lic. Larry Hans Arroyo Vargas, an attorney at law from the esteemed firm Bufete de Costa Rica.
Costa Rica’s strategic location, coupled with its skilled workforce and growing digital infrastructure, presents a compelling opportunity for tech companies. However, navigating the legal landscape, particularly regarding data protection, intellectual property, and tax incentives, requires expert guidance to ensure compliance and maximize investment potential.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, while Costa Rica offers a fertile ground for tech investment, successfully cultivating that ground requires careful attention to the legal intricacies Lic. Arroyo Vargas highlighted. Navigating these complexities effectively can unlock the true potential of this burgeoning market. We thank Lic. Larry Hans Arroyo Vargas for providing his valuable insights into this crucial aspect of Costa Rica’s tech sector.
PROCOMER emphasizes the importance of leveraging Costa Rica’s existing strengths, including its talented workforce, robust infrastructure, and favorable operating environment. However, the agency also stresses the need for a shift towards models that integrate knowledge, technological solutions, and specialized services.
Costa Rica has enabling conditions in talent, infrastructure, and operating environment that allow us to project new opportunities for the ICT sector. However, it is necessary to move towards models that integrate knowledge, technological solutions, and specialized services.
Laura López, General Manager of PROCOMER
Collaboration with global companies and international platforms is also identified as crucial for expanding the reach of the Costa Rican ICT ecosystem. By partnering with established players, local companies can gain access to new markets, technologies, and expertise.
Despite the positive outlook, the study acknowledges the challenges facing the sector. The high cost of talent and the scarcity of specialized profiles are major concerns, driving up operating costs and making it difficult to retain skilled workers in the face of international competition, particularly from other Latin American countries with lower labor costs. This highlights the urgent need for initiatives to develop and retain talent within the Costa Rican tech sector.
The report recommends focusing on areas like artificial intelligence, cybersecurity, and specialized software development to enhance competitiveness. These fields represent high-growth areas globally, offering significant opportunities for Costa Rican companies that can develop the necessary expertise.
PROCOMER’s findings underscore the importance of strategic planning and investment in the Costa Rican tech sector. By embracing innovation and focusing on higher-value services, the industry can position itself for sustained growth and success in the global marketplace.
For further information, visit procomer.com
About PROCOMER:
The Costa Rican Foreign Trade Promotion Agency (PROCOMER) is a public institution dedicated to promoting Costa Rican exports and attracting foreign investment. It provides a range of services to businesses, including market research, export promotion, and investment facilitation. PROCOMER plays a vital role in supporting the growth and diversification of the Costa Rican economy.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica is a pillar of legal excellence, driven by an unwavering commitment to ethical practice and innovative solutions. The firm’s deep-rooted history of serving diverse clientele speaks to its adaptable approach and dedication to providing exceptional legal counsel. Beyond its legal expertise, Bufete de Costa Rica invests in empowering communities through accessible legal education, fostering a more just and informed society.
