TBY RELEASES THE BUSINESS YEAR: COSTA RICA 2018

San José, 27 February 2018, TBY is pleased to announce the launch of The Business Year: Costa Rica 2018, produced in partnership with several in-country organizations: the Costa Rican American Chamber of Commerce, The Chamber of Commerce Costa Rica, The Costa Rican Investment Promotion Agency, and Essential Costa Rica.

The publication features over 150 interviews with top executives and government officials who highlight the wealth of business opportunities the country has to offer. Costa Rica has hit headlines in recent years for all the right reasons; its solid green credentials, strong human resources, and increasingly high-tech manufacturing base put it in good stead to tackle the 21st century.

TBY's coverage highlights these key advantages. The publication is opened by setting up Costa Rica as a player on the world's stage, focusing on its influence in the Central American region, drawing on the words of Manuel Antonio González Sanz, Minister of Foreign Affairs, who commented: “the principles of democracy, freedom and human rights, and the environment are key. We have been critical of the Central America integration system and have pointed out the need for more transparency, accountability, and results."

Other key government and private sector figures featured in The Business Year: Costa Rica 2018 include Carlos Zacapa, Executive Director of Green Park Free Zone; Carols Obregón, CEO of Costa Rican Energy Institute (ICE); Jorge Sauma, General Manager of National Banana Corporation (Corbana); Mauricio Ventura, Minister of Tourism; and Therese Gearhart, President of Coca-Cola.

This year's publication contains comprehensive, sector-by- sector coverage of the challenges and opportunities that lay ahead for the future of the region's Green giant. The publication's special analytics insert shows that 65% of interviewees believe highly skilled labor is the key advantage to doing business in Costa Rica, while political stability and high-quality education come in a close second and third.

The publication also focuses on the headway made in advancing the country's IT sector. Commitment to the industry has made the country into a regional leader in telecoms and an important market for leaders in the industry. Johanna Escobar Guerra, the Country Manager for Telefónica Costa Rica told TBY, “We have grown 45% in the last year in B2B services in Costa Rica and our bet is to continue to focus on innovating our digital solutions to offer to the corporate segment… It will be an interesting year for the telecoms sector and mobile operators due to the need to anticipate customers' requirements."

Ayse Valentin, TBY's CEO, commented that this edition of Costa Rica is released at a pivotal moment for the region. “With NAFTA currently changing the face of doing business in Central America, our Costa Rica publication is timely to say the least. The country is distinctive in many ways–at a regional, and global level–and can offer investors unique opportunities in this swiftly developing landscape, as long as they know where to look. TBY sheds vital light on these opportunities in this edition."

The publication concludes with an executive guide, with contributions from accountancy firms Grant Thornton and Moore Stephens, and law firm LatinAlliance, detailing the practicalities and pitfalls when it comes to investing in Costa Rica.