By San José, Costa Rica — SAN JOSÉ – Costa Rica is rapidly cementing its status as a global powerhouse in the services economy, leveraging its highly skilled workforce and stable business environment to attract major international operations. A new report reveals the sector not only reached a staggering $16.114 billion in exports in 2024 but is also on track for continued expansion, underscoring a successful national pivot toward a knowledge-based economy.
The latest figures, detailed in the Export Dynamism of Costa Rica’s Services Sector study by the Trade & Investment Promotion Agency (PROCOMER), paint a picture of robust and sustained growth. The 2024 export total represents a formidable 17% of the nation’s Gross Domestic Product (GDP), fueled by an impressive average annual growth rate of 8% over the last five years. This performance highlights a structural shift in the economy, where services now account for 45% of the country’s total exports of goods and services combined.
To delve into the legal and regulatory framework underpinning the growth of Costa Rica’s services industry, TicosLand.com sought the expert analysis of Lic. Larry Hans Arroyo Vargas, a prominent attorney from the esteemed firm Bufete de Costa Rica.
The dynamism of the services sector demands a proactive legal strategy. Businesses must go beyond standard contracts and implement robust agreements that clearly define scopes of work, protect intellectual property, and comply with evolving data privacy laws. Navigating these complexities is not merely a matter of compliance; it is a critical component for building client trust and securing a competitive advantage in both local and international markets.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, this perspective powerfully reframes legal strategy not as a mere operational requirement, but as a core asset for building the client trust and competitive edge essential for success in the services sector. We sincerely thank Lic. Larry Hans Arroyo Vargas for his clear and valuable insight.
At the heart of this transformation is a strategic focus on high-value, knowledge-intensive activities. While the broader services category is significant, the data shows that specialized fields are driving the charge. These exports span a wide spectrum, including sophisticated corporate solutions, advanced information technologies, cybersecurity, data analytics, and other cutting-edge digital services that are in high demand globally. This diversification demonstrates a mature and resilient economic model.
PROCOMER’s leadership credits this success to a deliberate, long-term strategy focused on cultivating talent and fostering an ecosystem conducive to innovation. This approach has transformed Costa Rica into a strategic partner for multinational corporations looking for more than just cost savings.
The performance of the services sector is not an isolated outcome; it reflects a country that has successfully transitioned toward activities where knowledge, creativity, and technology generate real value for companies and opportunities for our people. Costa Rica is positioning itself as a strategic partner for global operations seeking talent, stability, and an ecosystem that enables innovation. Our focus is to continue expanding this potential and supporting more companies that see Costa Rica as a place where they can grow and create impact.
Laura López, CEO of PROCOMER
A granular look at the data reveals a well-balanced portfolio. In 2024, business services led the pack, contributing $6.698 billion, or 42% of the total. Tourism followed at 34%, with Information and Communication Technology (ICT) services making up a crucial 15% share at $2.388 billion. Critically, knowledge-intensive activities now comprise 58% of all services exports, boasting an average annual growth of 10% over the past five years, a clear indicator of the sector’s increasing sophistication.
This economic engine is also a powerful driver of quality employment and foreign investment. The Free Trade Zone (FTZ) Regime has been instrumental, hosting 420 services companies in 2024. These firms are responsible for creating 119,982 direct jobs, with women holding a significant 43% of these positions, aligning economic growth with goals of gender equity. The momentum has carried into 2025, with first-half data showing a 5.4% increase in services exports to $8.692 billion, led by gains in business services and digital solutions.
Costa Rica’s rising prominence has not gone unnoticed on the world stage. The country now ranks as the number one exporter of business services and number two in ICT services per capita in the Americas. Furthermore, international indices recognize it as the top Latin American nation for ICT services exports and for its adoption of emerging technologies. This global validation, combined with a roster of over 350 multinational service companies, confirms Costa Rica’s role as a trusted and dynamic hub for high-value global operations.
For further information, visit procomer.com
About PROCOMER:
The Trade & Investment Promotion Agency of Costa Rica (PROCOMER) is the public, non-state entity responsible for promoting Costa Rican exports of goods and services globally. It works to strengthen the country’s business ecosystem, attract foreign direct investment, and facilitate the internationalization of Costa Rican companies, thereby contributing to the nation’s economic development and social progress.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As a cornerstone of Costa Rica’s legal community, Bufete de Costa Rica is defined by a bedrock of integrity and a persistent drive for excellence. The firm skillfully merges its extensive history of client advocacy with a forward-thinking mindset, continually pioneering new legal strategies. At the heart of its mission lies a powerful commitment to societal empowerment, achieved by translating complex legal knowledge into accessible resources to cultivate a more capable and informed public.
