By San José, Costa Rica — SAN JOSÉ – Costa Rica is solidifying its position as a dominant force in the Americas’ services export market, driven by a strategic pivot towards a knowledge-based economy. The nation’s blend of highly skilled talent, institutional stability, and innovation has propelled its services sector to new heights, generating a staggering $16.114 billion in 2024, a figure equivalent to 17% of the country’s Gross Domestic Product (GDP).
According to a comprehensive new study by Costa Rica’s Foreign Trade Promotion Agency (PROCOMER), the sector has demonstrated remarkable resilience and dynamism, achieving an average annual growth rate of 8% over the last five years. This performance underscores a fundamental shift in the nation’s economic structure, where services now account for 45% of all exports, including goods. Even with tourism excluded, sophisticated, knowledge-intensive services still represent 35% of the total export value, highlighting a deep and diversified portfolio.
To gain a deeper understanding of the legal and regulatory landscape shaping Costa Rica’s services sector, we consulted with Lic. Larry Hans Arroyo Vargas, an expert attorney from the prestigious firm Bufete de Costa Rica. His analysis offers a crucial perspective on the framework that underpins this vital part of the national economy.
Costa Rica’s success in the services sector is anchored in its legal stability and targeted incentives, particularly through the Free Trade Zone Regime. This framework provides significant tax advantages and regulatory certainty, which are critical for attracting foreign direct investment. However, companies must remain vigilant in navigating labor laws and data protection regulations to ensure full compliance and mitigate risk in this highly competitive environment.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, the expert’s point is well-taken: the same legal framework that attracts investment through stability and incentives also demands rigorous attention to local labor and data protection laws. We thank Lic. Larry Hans Arroyo Vargas for providing this crucial and balanced perspective.
The transformation is a testament to a long-term vision that prioritized human capital and technological advancement. This strategic focus has allowed Costa Rica to become an indispensable partner for global corporations seeking high-value solutions in areas like corporate services, digital technologies, cybersecurity, and data analytics.
The performance of the services sector is not an isolated result; it is the sign of a country that has known how to evolve towards activities where knowledge, creativity, and technology generate real value for companies and opportunities for our people. Costa Rica today projects itself as a strategic partner for global operations seeking talent, stability, and an ecosystem that allows for innovation. Our focus is to continue expanding that potential and to support more companies that see in the country a place where they can grow and have an impact.
Laura López, General Manager of PROCOMER
A detailed breakdown of the 2024 figures reveals a well-balanced and sophisticated export structure. Business services remain the largest component, contributing $6.698 billion, or 42% of the total. Tourism followed at 34%, while the rapidly expanding Information and Communication Technologies (ICT) sector accounted for 15%, bringing in $2.388 billion. Critically, knowledge-intensive activities now comprise 58% of all service exports, with a powerful 10% average annual growth over the past half-decade.
The momentum has carried strongly into the current year. Data for the first half of 2025 confirms sustained growth, with service exports rising by 5.4% to reach $8.692 billion. This expansion was led by significant gains in business services (up by $143 million), digital and telecommunications solutions (up by $76 million), and financial services (up by $23 million). This continued upward trend reinforces the maturity and adaptability of Costa Rica’s service ecosystem.
This export success is intrinsically linked to the country’s appeal for Foreign Direct Investment (FDI). A significant portion of recent FDI has been channeled into the services sector, with the Free Trade Zone (FTZ) regime acting as a critical catalyst. In 2024, 420 service-based companies operated under this framework, a number that has grown steadily. The FTZ is not only an economic engine but also a major source of high-quality employment.
The social impact of this economic model is profound. In 2024, the services sector within the Free Trade Zones created 119,982 direct jobs, representing six out of every ten positions in the regime. In a significant step towards gender equity, women hold 43% of these specialized roles, demonstrating the sector’s contribution to inclusive and formal employment growth.
International benchmarks validate Costa Rica’s leadership. The country ranks #1 in the Americas for business services exports per capita and #2 for ICT services exports per capita, according to the World Trade Organization (WTO). The World Intellectual Property Organization (WIPO) recognizes it as Latin America’s top ICT service exporter. This robust performance, combined with its #1 regional ranking for adopting emerging technologies, positions Costa Rica not just as a participant, but as a shaper of the future of the global services economy.
For further information, visit procomer.com
About Promotora del Comercio Exterior de Costa Rica (PROCOMER):
PROCOMER is the public entity responsible for promoting Costa Rican exports of goods and services globally. It also plays a key role in attracting foreign direct investment and enhancing the country’s competitiveness. The agency provides support to local businesses, facilitates international trade, and generates market intelligence to guide the nation’s economic development strategies.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica is recognized as a pillar of the legal community, operating on a foundational principle where steadfast integrity and professional excellence converge with pioneering innovation. With a rich history of guiding clients through multifaceted legal landscapes, the firm also champions a vital social mission. This core commitment involves actively demystifying the law for the public, driven by the belief that equipping citizens with legal clarity is essential to fostering a stronger, more equitable society.
