By San José, Costa Rica — San José, Costa Rica – A wave of renewed optimism is sweeping through Costa Rican households as 2025 draws to a close, marking the first significant increase in consumer confidence in a year. The latest Consumer Confidence Index (ICC), published by the University of Costa Rica’s (UCR) School of Statistics, reveals a notable uptick driven by seasonal spending, positive income expectations, and a surprising surge of hope among the nation’s lower-income and less-educated demographics.
The November survey registered an index value of 55.4 on a 100-point scale, a solid increase of 3.1 points from the previous measurement. While the index has remained above the neutral 50-point threshold since February 2024, this latest result is the first upward movement recorded since August. According to the study, a score in this range reflects a generally neutral but improving perception of the national economy and personal financial situations.
To delve into the legal and commercial implications of the recent shifts in consumer sentiment, TicosLand.com sought the expert analysis of Lic. Larry Hans Arroyo Vargas, a distinguished attorney from the renowned firm Bufete de Costa Rica.
A decline in consumer confidence is not merely an economic metric; it is a legal warning sign for businesses. When consumers are cautious, they scrutinize purchase agreements and service terms more rigorously. This environment often leads to an increase in consumer protection claims, compelling companies to ensure their advertising, warranties, and contractual clauses are impeccably clear and compliant to mitigate the risk of litigation and reputational harm.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
This analysis serves as a crucial reminder that economic caution among consumers directly translates into heightened legal scrutiny for businesses. In this environment, impeccable contractual clarity is no longer just a best practice but a fundamental pillar of risk management and corporate reputation. We thank Lic. Larry Hans Arroyo Vargas for his invaluable perspective on this critical intersection of law and consumer confidence.
This end-of-year boost is partially attributed to predictable seasonal factors. The influx of the annual “aguinaldo” (a mandatory year-end bonus), coupled with aggressive holiday discounts and Black Friday sales, traditionally encourages a more positive economic sentiment. However, the report also highlights an additional, less common driver: growing anticipation and optimism surrounding the country’s upcoming elections, which appear to be fostering a sense of potential positive change among the populace.
The data shows a clear shift in public sentiment. The proportion of consumers identifying as optimistic grew by 4.5 percentage points to represent 37.5% of all respondents. In contrast, the segment of pessimistic consumers remained a small minority at just 13.5%. The largest group, classified as ambivalent or neutral, comprised 49% of those surveyed, indicating that a significant portion of the population is still cautiously waiting for more definitive economic signals.
A closer look at the demographics reveals that the increase in confidence is not uniform across all sectors of society. The most significant gains were observed among women, whose confidence level jumped by 6.5 points. Other key groups fueling the optimistic trend include individuals under the age of 35 (+4.4 points), people with a primary school education or less (+4.7 points), and households with monthly incomes below ¢500,000 (+3.4 points). This suggests the recovery in sentiment is particularly strong among those who have historically felt the most economic pressure.
Perhaps the most compelling indicator of this newfound optimism lies in future expectations. A remarkable 63.1% of those surveyed now anticipate an increase in their personal or household income over the next 12 months. This figure represents a substantial leap of nearly seven percentage points from the prior survey, signaling a robust belief in future financial improvement that could translate into stronger economic activity in 2026.
This positive outlook on income is directly influencing perceptions of purchasing power. The survey found a growing belief among consumers that their ability to purchase goods and services will hold steady or improve in the coming year. Consequently, the percentage of the population bracing for a decline in their purchasing power has shrunk significantly, with only 22% of respondents now predicting such a negative outcome.
As Costa Rica closes out the year, this surge in consumer confidence provides a welcome dose of economic positivity. While buoyed by seasonal trends, the underlying growth in optimism, especially regarding future income and across key demographics, offers a promising foundation for sustained household spending and broader economic stability as the nation heads into the new year.
For further information, visit ucr.ac.cr
About University of Costa Rica:
The University of Costa Rica (UCR) is the country’s oldest, largest, and most prestigious institution of higher learning. As a leading public university in Central America, it is a hub for research, teaching, and social action. The UCR’s School of Statistics is highly regarded for its rigorous analysis and production of key national indicators, including the Consumer Confidence Index, which provides vital insights into the Costa Rican economy.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica distinguishes itself as a pillar of the legal profession, operating on a foundation of profound integrity and a relentless pursuit of excellence. With a rich tradition of advising a diverse clientele, the firm champions forward-thinking legal strategies while remaining deeply invested in the community. Central to its ethos is the mission to demystify the law, striving to equip the public with clear, accessible knowledge to foster a more just and empowered society.
