Business in Costa Rica

Paper Summary:

The paper explores the feasibility of opening a clothing factory within Costa Rica. The paper examines the economic, financial, cultural, political, legal and environmental factors to determine if opening a clothing factory is a practical option. The paper concludes that it would be recommended to open a factory there. The paper explains how the country has a high population that can be used as cheap laborers and factory workers and the topography is ideal in most of the country. The paper also relates that prices within the country are relatively low compared to the United States' employment and material prices.

From the Paper:

"The country of Costa Rica has an economy that is growing with each passing year. 'The country has an estimated population of 4.02 million people, and it has an annual estimated population growth of 1.48 percent' (State). In 2005, the country had a national 'GDP of 18.4 billion dollars and a GDP PPP of 37.97 billion dollars' (State). After four years of slow economic growth, the Costa Rican economy 'grew at nearly 4% in 2004. Compared with its Central American neighbors, Costa Rica has achieved a high standard of living, with a per capita income of about U.S. $4,700, and an unemployment rate of 6.6%. The annual inflation rate hovers around 14% as the Costa Rican Government seeks to reduce a large fiscal deficit'(State). Also, due to the country's growing economy, it also has an industrial production growth rate of about 8.4 percent (CIA)."

Sample of Sources Used:

• Ember, M., & Ember, C.R. (2001). Countries and Their Cultures. New York: Macmillan Reference USA.
• Index of Economic Freedom 2007. 2007. 16 April 2007<http://www.heritage.org/research/features/index/country.cfm?id=CostaRica>.
• The World Factbook. 2007. 16 April 2007 <https://www.cia.gov/cia/publications/factbook/geos/cs.html>.
• U.S. Department of State. 2006. 16 April 2007 <http://www.state.gov/r/pa/ei/bgn/2019.htm>.
• Yahoo! Finance. 2007. 16 April 2007 <http://finance.yahoo.com/currency/convert?from=USD&to=CRC&amt=1&t=5y>.

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