News

Washington, D.C., August 19, 2024 – Ambassador Catalina Crespo participated in the

Washington Intergovernmental Professional Group event at the World Trade Center, with the

aim of positioning Costa Rica as a premier destination for investment and tourism. In her

presentation, Ambassador Crespo-Sancho highlighted Costa Rica's remarkable economic

transformation, which has evolved from an agriculture-based economy focused on coffee

and banana exports to a global leader in the medical device and high-tech industries. Costa

Rica continues to capture international attention for its innovation and sustainable growth.

“Costa Rica is a small country with big ambitions. Our ability to innovate, our commitment to

sustainability, and our strategic vision have allowed us to become a hub for cutting-edge

industries. We welcome investors and partners to join us in this journey of growth and

opportunity,” said Ambassador Crespo.

In 2023, Costa Rica experienced a historic record in Foreign Direct Investment (FDI) inflows,

reaching $4.687 billion, a 28% increase compared to the previous year. Among the

announced projects, the construction of a new medical device manufacturing plant by U.S.

company Johnson & Johnson MedTech stands out. Located in Alajuela, this investment

would be the company's most significant outside the United States, leveraging Costa Rica's

existing capabilities in the medical device industry and the country's high proportion of

renewable energy in its energy matrix.

The majority of these investments come from the United States, accounting for 56% of the

total, with a 5% growth. Belgium ranked second with 9%, followed by Switzerland and

Panama, each with 3%, according to the report Foreign Direct Investment in Latin America

and the Caribbean, 2024.

Costa Rica's ongoing success in attracting FDI is a testament to the country's strategic

vision, robust industry sectors, and commitment to sustainability. The Ambassador's

participation in this prestigious event underscores Costa Rica's dedication to fostering

international partnerships and promoting the nation as a hub of innovation and opportunity.