Pharmaceuticals, financial outsourcing, software development, and ecotourism have become the prime industries in Costa Rica's economy. High levels of education among its residents make the country an attractive investing location. Since 1999, tourism earns more foreign exchange than the combined exports of the country's three main cash crops: bananas and pineapples especially, but also other crops, including coffee. Coffee production played a key role in Costa Rica's history and in 2006, was the third cash crop export. As a small country, Costa Rica now provides under 1% of the world's coffee production. In 2015, the value of coffee exports was US$305.9 million, a small part of the total agricultural exports of US$2.7 billion. Coffee production increased by 13.7% percent in 2015-16, declined by 17.5% in 2016–17, but was expected to increase by about 15% in the subsequent year.
Tabacon Hot Springs is the largest accessible network of natural hot springs in Costa Rica. The pools are located within a private rainforest reserve and part of the Tabacon Thermal Resort. You don’t have to stay there in order to use the hot springs, though: you can purchase a day pass. The highly mineralized and naturally heated water flows through the resort and fills multiple pools that vary in temperature. It is quite a relaxing experience to soak in a natural hot tub in the midst of lush landscape up in the mountains.
The central location provides access to American markets and direct ocean access to Europe and Asia. The most important exports in 2015 (in order of dollar value) were medical instruments, bananas, tropical fruits, integrated circuits and orthopedic appliances. Total imports in that year were US$15 billion. The most significant products imported in 2015 (in order of dollar value) were refined petroleum, automobiles, packaged medications, broadcasting equipment and computers. The total exports were US$12.6 billion for a trade deficit of US$2.39 billion in 2015.
All the way back in the 80’s the first boom of ecotourism began in Costa Rica. Travelers began to learn of the country’s wealth of natural flora and fauna and acted fast to preserve. As tourism dollars continued to come in the Costa Ricans were quick to fall in step and preserve the beauty of their country. It’s now trickled down to almost every level, we even found small soda shops (local restaurants) using biodegradable straws and ditching styrofoam take away.
Costa Rica was facing a market liquidity crisis in 2017 due to a growing debt and budget deficit. By August 2017, the Treasury was having difficulty paying its obligations. Other challenges facing the country in its attempts to improve the economy by increasing foreign investment include a poor infrastructure and a need to improve public sector efficiency.