Today all of Costa Rica’s major newspapers featured pictures of six new bills that will come out this year. The bills have been totally redesigned for the following denominations: 1,000, 2,000, 5,000, 10,000, 20,000 and 50,000 colones. In addition, to a completely new design on the front and the back, each bill will be a different size and color.

The new bills are made of a cotton fiber-based paper and sensitive to the touch. If you turn the bill the map of Costa Rica on the front changes color.

Bills that have nicknames like “un rojo” for 1000 colones because of its red color and “Un Tucán” for 5000 colones because of the bird on it, will now look totally different. For example, The 5,000 bill have a picture of ex-president Alfredo Gonzáles Flores on one side and a tropical motif on the back.

The 20,000 colon bill will be the first one released around in August. The 2,000 colón bill will be the second one to come out in September or October. The rest will start to circulate after that. The Central Bank will wait to see how the 20,000 colón bill is accepted by the public before they release the 50,000 colón bill.

It seems that the only time you hear about Costa Rica is in news articles and TV documentaries about the country’s national parks, beaches, volcanoes or other national wonders. There is never anything negative in the news like you hear about Cuba, Venezuela, Colombia, Nicaragua or Mexico.

Costa Rica’s stellar reputation is what makes it popular with tourists and retirees. The latter are flocking to the country as the quality of life and economy continue to deteriorate in the United States. Costa Rica has more retirees from U.S. per capita (proportionately) than any other country outside the States. These numbers speak for themselves. Costa Rica has become a brand name for retirement abroad.

All indicators point out that the economic crisis is slowly coming to an end and the country is recuparating. Supporting that is the fact that there have been 35.995 new jobs created between August 2009 and January 2010.

The figures were released by the Caja Costarricense del Seguro Social (CCSS).

A poll by Manpower shows that Costa Rica is the number two in job expectations in Latin America, with a 23% net gain in jobs.

Other indicators that the economic crisis is almost done and over with is the fact that 40.000 people attended the 10 days of the Expomóvil, the annual car show, that is really one big open ten saleathon for new and used vehicles.

Add to that is the report by the Camára Nacional de Turimso (Canatur) that hotels and tour operators report an 80% occupancy rate for this Semana Santa.

And the Cámara de la Construcción is predicting a 13% increase in new hiring that translates into 15.000 new jobs in the sector.

Of course those who lost their jobs in the past year see it totally different.

The price of consumer goods, clothing, groceries, appliances, etc. is still the same, while their income took a drastic drop. The economic crisis affected greatly the lower middle class to the lower class, which are still reeling from the effects and don’t see the positive side like the other classes.

However, experts in economy say the country is coming out of the crisis and there will a strong increase in hiring in the coming two years.

According to the Univesidad Nacional (UNA) economist, Roxana Morales, in October 2008 there were 1.391.129 employed, in January 2010 the number of employed rose to 1.405.299 or 14.170 more people employed.

Also, the monthly economic index produced by the Banco Central shows that the economic activity in January 2010 was 6% higher than in January 2009.

Economic experts suggest that the use of credit cards be reasonable and keeping financial order is important, as well as not speculate on the future movements of the dollar/colon exchange rate.

As you can see from the above Costa Rica continues to move forward and improve its infrastructure making it a good place to invest. Baby Boomers and retirees should feel perfectly safe buying property here.

These companies realize that Costa Rica is the perfect place to invest now and in the future because of the country’s political climate, stellar international reputation and excellent business climate.

Small investors should have nothing to fear if they do their due diligence and invest in real estate or other local ventures. Many retirees have already realized this and profited from their investments.

Guide to Real Estate in Costa Rica

SAN JOSÉ, COSTA RICA – For close to a decade, Costa Rica has been building a reputation as a reliable place to invest in property. In fact, in 2006 Costa Rica was one the hottest real estate markets in the world according to CNBC News.

The dollar is weak and will continue to spiral downward; the current world financial mess, wars, record deficits and more will keep the pressure on. Furthermore, the U.S. government will be staring at a colossal tax increase in just a few years to fund the bail out, social security, universal health coverage and Medicaid benefits for the flood of retirees. Some say that under under the current plan, federal income taxes will increase dramatically. New tax rate would possibly give the United States one of the highest tax rates among developed countries.

Where is the end of the huge financial burden the government is placing on every taxpayer? Diversifying out of a falling currency and into hard assets outside the U.S. just might be the only way to protect your hard-earned wealth—and enjoy and preserve the lifestyle you might consider. The super rich have been doing this for years to protect their wealth and educe liability. They safeguard their money and diversify their investment portfolio by investing in international assets. Now the average Joe can protect what he has left from the world economic fall out by using the same strategy.

But in these difficult economic times, those who invest in real estate anywhere in the world feel the need to do so safely.

That’s why Christopher Howard, author of many titles on living abroad, has published his latest tome, Christopher Howard’s Guide to Real Estate in Costa Rica. At 544 pages, the book is the result of many years of research and personal experience, and the most comprehensive guide to the topic to date.

Written by professional journalists Lindsay Whip and Peter Krupa, the book includes carefully researched chapters on permitting, finding property, due diligence, and financing, among others. Another lengthy section gives an overview of the country’s various geographical regions and architectural styles, while a resource directory offers an extensive list of contacts, from lawyers and environmental engineers, to private bilingual schools.

“I wanted to make this book essential for one-time home buyers and developers alike,” Howard said. “Doing business in Costa Rica doesn’t have to be complicated and people should research things so they have the right questions to ask when they move forward.”

Howard stressed that co-authors Whip and Krupa wrote the book as professional journalists and are not involved in any aspect of the real estate business in Costa Rica. Whip has worked as a financial journalist for Bloomberg News and the Financial Times, while Krupa lives in Costa Rica and spent several years freelancing and working as the business and real estate reporter for English-language weekly the Tico Times.

The book is available through Amazon.com, in most bookstores through Baker & Taylor, and the eBook version from Escape Artist and review copies can be sent to members of the media. Both Howard and Krupa are available to comment to the media on the book. To request a review copy or set up an appointment for an interview, see the numbers above.

Costa Rica Books
Guide to Real Estate in Costa Rica website
Call TOLL FREE 877-322-4690, 877-884-2502 or 800-365-2342 (afternoons)
E-mail to christopher@costaricabooks.com

The area already boasts a couple of oriental restaurants, supermarkets and other businesses.

Barrio Chino plan to cover more than two acres downtown

Most major cities have one, so San José is moving forward with the creation of a Barrio Chino or Chinatown.
Traditionally such areas were ghettos where Chinese laborers were allowed to live with the services typical of their culture. This is where the clothes were washed in the 19th and early 20th century.

For San José, the concept is a form of urban renewal. The area will be 8,300 square meters (about two acres) with a public investment of at least $1 million. The section will be entered via Chinese-style gates, said Casa Presidencial.

The project was inaugurated Saturday by President Óscar Arias Sánchez, San José Mayor Johnny Araya, the visiting mayor of Beijing, Guo Jinlong, and the ambassador of the People’s Republic here, Wang Xiaoyuan.
The area is between avenidas 2 and 14. The ceremony Saturday was in front of La Soledad church on calle 11.

The municipality plans to construct a pedestrian mall in place of the existing city street. That will stretch for more than half a kilometer, officials said. Traffic will be restricted.

The project is to be an example of the profound admiration for the ancient civilization, said a Casa Presidencial release.

Officials envision businesses, restaurants, craft shops and places where traditional medicine is sold, said Arias.

Araya sees the project as another step in the repopulation and renewal of the central region of the city. Arias appears to have a more geopolitical view.

The electric train will greatly reduce travel time in San José by reducing traffic congestion and reduce smog.

The cost of the project would be us$345 million dollars.

Miguel Carabaguíaz, presidente del Instituto Nacional de Ferrocarriles (INCOFER), said “we are taking a step towards modernization and what we are looking for is to offer better service to all Costa Ricans.”

Carabaguíaz said that the feasibility studies have already been done, which has already determined the routes and if all goes well, the electric train could be running by 2013.

The INCOFER has been running the diesel power train service between San Pedro and downtown San José and Pavas for some years. Last month it began operating between San José and Heredia route, using tracks that had been abandoned for more than a decade and purchasing locomotives and cars from Spain. Currently it is analyzing expanding the diesel train service between San José and Cartago.

The “urban train” as it is called currently only operates during mornings and afternoons on weekdays.

Britt added three more in the shops located outside the airport in Miami, Florida.

Café Britt, Costa Rica’s premier brand of coffee, is looking to expand its empire. With fifty stores in seven countries the company now wants to install stores in the island of Antigua’s airport, in Peru, Chile and a roasting plant in Cancún Mexico. The company already boasts over $60 million in annual sales. In addition to coffee they sell local handicrafts, their own brand of chocolates, books and more in airports and hotels.

This is another example of a Costa Rican company expanding beyond its borders. Dos Pinos, the country’s largest producer of daily products and Florida Ice which makes several types of beer, are already selling their products in neighboring countries and abroad. Costa Rica’s famous Imperial beer may be purchased in many areas of the U.S. The author downed a couple while visiting New York City a couple of years ago.

All of this points to the county’s continued growth which could not have been achieved without political stability.

In addition, “Latin America in general, will experience a quicker recovery that the larger economies” according Nicolás Eyzaguirre Director of International Monetary Funds (IMF) for the Western  Hemisphere. He goes on to say that “Latin American and the Caribbean are not confronting a bank crisis like the United States and a large part of Europe.” He goes on to state, “Many countries in the region have responded to the crisis with policies which boost production and employment. The outstanding feature being that six months after the collapse of Lehman Brothers, NO Latin American financial system has experienced a banking  crisis. Liquidity is good and Latin American banks have little dependence on foreign financing.”