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Economical System in Costa Rica
Costa Rica’s economic system is focused on many factors, but the ones discussed here are the biggest factors that relate back mainly to the economy. Those factors are agriculture, and the tourism.
Agriculture is a huge part in many economic systems, and in ones like Costa Rica, where is has the perfect climate and weather conditions for the production of coffee, fruit, and sugar, it becomes in high demand for exports of these goods worldwide due to the high quality of the natural goods produced. The high quality of these goods comes from the extreme conservation of the forests, beaches, and other natural landforms throughout the country. In fact, over 26% of the countries land is protected; which means that 5% of the world’s biodiversity is safeguarded there. In the year 2012, Costa Rica’s export was about 11.4 billion dollars.
Tourism in Costa Rica is all too common to the citizens there. Because of the quality of the conservation of the natural beauty there, many people worldwide travel there to bask in the beauty of the country. This helps the economy there by giving the country money from everyone who travels there and stays there, such as foreign investors. These investors are attracted to Costa Rica over its’ neighboring countries because of its political stability and high end educational status.
Costa Rica only represents about 2% of the GDP, so they are not in high demand for the remittances of it. Because of financial restrictions placed on the country by the government, the social security protections have decreased, and now about one-fifth of the country lives in poverty. As a country, Costa Rica is working on recovering their economy as well as government efficiency, and starting to deal with unemployment, by focusing on maintenance and expansion of its industries.
Agriculture is a huge part in many economic systems, and in ones like Costa Rica, where is has the perfect climate and weather conditions for the production of coffee, fruit, and sugar, it becomes in high demand for exports of these goods worldwide due to the high quality of the natural goods produced. The high quality of these goods comes from the extreme conservation of the forests, beaches, and other natural landforms throughout the country. In fact, over 26% of the countries land is protected; which means that 5% of the world’s biodiversity is safeguarded there. In the year 2012, Costa Rica’s export was about 11.4 billion dollars.
Tourism in Costa Rica is all too common to the citizens there. Because of the quality of the conservation of the natural beauty there, many people worldwide travel there to bask in the beauty of the country. This helps the economy there by giving the country money from everyone who travels there and stays there, such as foreign investors. These investors are attracted to Costa Rica over its’ neighboring countries because of its political stability and high end educational status.
Costa Rica only represents about 2% of the GDP, so they are not in high demand for the remittances of it. Because of financial restrictions placed on the country by the government, the social security protections have decreased, and now about one-fifth of the country lives in poverty. As a country, Costa Rica is working on recovering their economy as well as government efficiency, and starting to deal with unemployment, by focusing on maintenance and expansion of its industries.