By Puntarenas, Costa Rica — Costa Rica has emerged as a pivotal business partner for Spanish small and medium enterprises (SMEs), offering strategic advantages that enhance economic ties between Spain and Costa Rica. The two countries, Spain and Costa Rica, share complementary goals, focusing on sustainability, innovation, and access to key markets like the U.S. and Latin America.
With Costa Rica exporting over 4,400 products to 165 countries in 2023, Spanish companies are drawn to its open economy and extensive trade agreements, especially with the U.S. and the European Union. This collaboration between Spain and Costa Rica is proving vital for SMEs in technology, advanced manufacturing, and renewable energy.
Spain and Costa Rica benefit from a nearly 24/7 operational schedule due to minimal time zone differences, enhancing the competitiveness of businesses in both nations. Spanish companies in digital services, customer support, and advanced industries are finding success in Costa Rica’s highly skilled workforce and tech-focused economy.
Bilateral agreements and government initiatives between Spain and Costa Rica have further facilitated trade, particularly in innovation and decarbonization. Spanish SMEs are increasingly participating in Costa Rica’s ambitious sustainability goals, especially in sectors like clean energy and environmental conservation, strengthening the relationship between Spain and Costa Rica.
In recent years, Spanish companies have also taken advantage of Costa Rica’s numerous free trade zones, which offer significant tax incentives and simplified customs procedures. The presence of robust legal frameworks and institutional support has also contributed to a favorable business environment for SMEs from Spain looking to expand their operations. Costa Rica’s commitment to fostering entrepreneurship and innovation through government-backed programs and its strong adherence to international standards have made it a preferred destination for Spanish enterprises.
Additionally, Costa Rica’s focus on high-value sectors such as medical technology, information technology services, and agri-tech aligns with Spain’s own strategic industries, creating opportunities for joint ventures and investments. Spanish SMEs are finding that Costa Rica not only serves as a gateway to larger Latin American markets but also provides a secure and reliable partner for sustainable growth.
The strategic location of Costa Rica, coupled with its stable economic environment, makes it an attractive platform for Spanish companies seeking international growth. As both Spain and Costa Rica prioritize economic diversification and technological advancement, their growing partnership promises significant benefits.
About Spain:
Spain, a leading economy in Europe, is known for its vibrant SME sector and innovation in renewable energy, technology, and advanced manufacturing. With a strong commitment to sustainability, Spain actively promotes international collaboration, particularly with Latin America.
About Costa Rica:
Costa Rica is a Central American country recognized for its political stability, sustainability initiatives, and strong emphasis on innovation. With a highly skilled workforce and strategic access to U.S. and Latin American markets, it serves as a key hub for global trade and investment.
