Despite falling 9 positions in one year Costa Rica is still the fourth least corrupt country in Latin America behind only Chile, Uruguay and Puerto Rico. This according to Transparency International’s Corruption perceptions index which measures the perceived levels of public corruption inn 183 countries around the world.

Costa Rica is ranked 50 in the world. New Zealand ranks first, followed by Finland and Denmark. Somalia and North Korea are last.

Nicaragua, Paraguay and Venezuela are the most corrupt countries in Latin America. Venezuela is considered to be the most corrupt of all.

The index scores 183 countries and territories from 0 (highly corrupt) to 10 (very clean) based on perceived levels of public sector corruption. It uses data from 17 surveys that look at factors such as enforcement of anti-corruption laws, access to information and conflicts of interest.

In Central America, Nicaragua is 134th overall with a score of 2.5, Panama 86th with 3.3, El Salvador 80th with 3.4, Honduras 129th with a 2.6 and Guatemala in 120th place with a 2.7.

In South America, Colombia ranked 80th overall with a score of 3.4, Venezuela 172nd with 1.9, Brazil 73rd with 3.8, Argentina 100th with 3 and Chile, the least corrupt of all Latin American countries, placing 22nd overall ad with a score of 7.2.

Baby Boomers who are thinking of retiring in Costa Rica will be pleased to know that the country’s infrastructure will continue to be developed and modernized despite the world economic crisis, thus improving the quality of life here. During the last couple of years Costa Rica completed two major highways despite the world’s economic ills: One to the Pacific port of Caldera and another between Quepos and Dominical also on the Pacific Coast. A new airport terminal in also being built in Liberia, Guanacaste in the north. Now plans have just been announced to double the size of Juan the Santamaría airport, the country’s main airport located in the city of Alajuela.

One hundred and fifty three million dollars will be invested in the airport’s new passenger terminal. This new terminal will be 22,000 square meters in size, will include nine lounges, as well as an area of stores of at least 3,300 square meters. It will be located to the west of the actual terminal and is part of third and fourth phase of the expansion project of the airport. The new terminal will be financed with around $150 million dollars provided by the Banco Interamericano de Desarrollo (BID) – Inter-American Development Bank.

With the expansion, Juan Santamaría airport will have a total of 18 boarding rooms, all with their respective boarding bridges. Construction is scheduled to begin during the first half of 2013. Once the expansion is complete, the airport should be able to handle more than seven million passengers yearly. The current facilities handles about three million passengers entering and leaving Costa Rica each year.

Small investors and retirees should not worry about investing safely in Costa Rica. I have written about this topic repeatedly and feel obliged to do it again for my readers to reassure them that it is safe to invest here.

Amazon.com, Proctor and Gamble, MacDonald’s, Intel, medical technology companies and others have all poured millions of dollars into Costa Rica over the last decade. Now more big players are doing the same because of the countyr’s political stability, stellar international reputation and it’s highly educated work force. Just look at the commitment Wal-Mart just made and what it will do for the local economy.

Wal-Mart’s executive vice-president for Central America, Alberto Ebrard, just announced the company’s plans to open 24 new stores this year as part of a $160 million investment in the country. This move will create over 800 new jobs for Costa Ricans. The chain currently operates a total of 181 retail units that include 6 Hipermas megastores and 25 Mas x Menos, 15 Maxi Bodega and 135 Pali supermarkets. Wal-Mart has a total of 531 stores in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica employing 30.000 people.

In addition, the company’s plans is to open a Hipermás megastore in Alajuela this year. In case you don’t know, these humungous warehouse-style stores closely resemble the average Wal-Mart store in the U.S.

None of the large companies mentioned in this article would invest here if they thought for a minute there was a chance of losing their investments. Consequently retirees and other small investors should have no qualms about making real estate investments after doing their due diligence. Costa Rica will continue to draw large companies, tourists, investors and retirees for years to come.

Retirees and other small investors should not worry about investing in Costa Rica. Big international companies continue to have confidence in the country and continue to invest millions of dollars here.

Intel plans to invest 8 million dollars in its Engineering Development Center (CID) to develop software. The new center will have 300 employees.

Hewlett Packard recently chose Costa Rica as one of its new hubs to give support to clients all over the world.

It was just announced that two new hotels will be built west of San José. The first will be located on the grounds of the Forum II in the La Lindora area of Santa Ana. The second will be built in Guachipelín, Escazú near the Intercontinental Hotel. About 15 to 20 million dollars will be invested in each project.

In addition, Grupo Universal who runs a chain of department stores recently announced it would build an office complex across the street from the northwest corner of the Sabana Park. The structure will be built on the site of the present Universal department store.

Investment continues to flourish because of the county’s highly educated people, its stability and growth. All of this has been despite a world economic crisis.

Due to the demand of a growing expatriate retirement community and health tourism, the Clínica Bíblica just announced that it will expand its downtown facility in San José. Since 1929 the hospital has had a tradition of meeting medical needs of the Costa Ricans and expats. As part of its expansion plans to keep pace with the country’s needs for first-rate private care, the hospital built a multi-storied medical tower in the adjacent block and added a large wing to the main hospital during the last ten years.

Now the hospital will invest $15 million in a new structure to the south of the main building according to Bernal Aragón the hospital’s general director. The structure will have a six-level parking structure for more than 1000 vehicles. The seventh level will have a heliport with a capacity for four helicopters at the same time.

In case you don’t know The Clinica Bíblica (Tel:2522-1000, 800-911-0800, Fax: 2255-4947,E-mail:asoserme@racsa.co.cr, www.clinicabiblica.com) is affiliated with the Blue Cross and Blue Shield network. There is a small chance that Medicare may be accepted someday, but don’t hold your breath. A first-class private hospital with an excellent coronary unit, this fine facility is staffed with highly trained doctors. Complete hospital services including maternity, an ER room, MRI equipment and lab work are available. My family and I have used the hospital’s service for over 25 years found the service to be excellent.

Other private medical facilities in the greater metropolitan area are: Hospital/Hotel La Católica, Hospital Jerusalem, Clínica Santa Catalina, Clínica Santa Rita and the new kid on the block, Hospital-Clínica metropolitana.

I always make it a point to talk about medical care options in Costa Rica during my month relocation/retirement tours and the many lectures and conferences where I speak.

Courtesy of Inside Costa Rica

Retirees and others should have no qualms about investing in Costa Rica. Here is what the country’s president says about our economy.

Costa Rica’s economy is expected to post solid growth of 4.5% this year and 5% next year as the country continues to invest in infrastructure and open up the telecommunications industry.

“We are efforting this push into Asian markets to increase the rate of growth. We have a very ambitious program,” said Costa Rica’s Presidenta, Laura Chinchilla, on the sidelines of the United Nations General Assembly in New York.

Known for its eco-tourism and coffee production, Costa Rica will boost growth by improving infrastructure such as ports, and by opening and promoting markets such as electricity and telecommunications.

Costa Rica has trade agreements with China, Singapore and the European Union bringing the amount of free trade agreements to 42 and increasing trade to 92% of total exports. It is also starting negotiations with South Korea.

Chinchilla, the first woman president and just four months in government after succeeding Nobel laureate winner Oscar Arias, is set to increase competitiveness by continuing to educate and train its population of more than 4.6 million.

Costa Ricans take pride in the fact that they are the only country in the Americas without an army, and 50 years ago established free education — a competitive advantage difficult to emulate in a short period of time.

With a skilled work force, and political and social stability, Chinchilla’s government hopes to capture us$9 billion in foreign direct investment over the next four years.

In 2009 inflows of FDI reached $1.3 billion of which 57% were from the United States. Most of the inflows go to manufacturing, real estate, services, and tourism.

Economic growth has come from the services sector with 60 percent of gross domestic product, industry with 32% and agriculture with 8%.

“Today, after serious trade policies based on the promotion and diversification of exports and the attraction of foreign direct investment as key elements, Costa Rica exports more than 4,116 products to 135 countries around the world, with a net worth of us$8.675 billion,” Chinchilla said.

“Our total exports have increased over 60 percent in the last decade,” she said. Imports however, reached us$11.4 billion in 2009.

Chinchilla also stressed security and prevention of the high levels of organized crime that other neighboring countries have experienced as one of her key issues in her domestic agenda.

“We are trying to design a regional agenda in terms of security issues,” Chinchilla said. “Our homicide rate is relatively low. We are just trying to prevent what has happened in other regional countries.”

In terms of bond issues, the president of Costa Rica’s promotion agency, Jose Rossi, said it would be favorable for the finance ministry to issue global bonds as global interest rates are low and as Costa Rica’s credit rating was raised to investment grade earlier this month by Moody’s.

The country has us$1.25 billion in outstanding debt, divided into five different global bonds, one of them maturing next year. If and when the country issues, Rossi said part of the money will go to repay the maturity due, projects in infrastructure, education and other debt issues with multilaterals.

I know some people aren’t thrilled to hear this news because it seems that there is a Starbucks on every corner in the United States and in many other countries in the world.

The company that has the franchise rights to Central America will open its first cafés in El Salvador. It is expected that they will be expanding to the neighboring countries within a year or two. Personally, I like some of the products Starbucks offers but find them too expensive. In Costa Rica we already have cafés that are similar like Port Java and the Mac Cafés found inside many of the local MacDonald’s restaurants. The latter actually make a better frappachino coffee than Starbucks. You’d have to try one to understand what I am talking about. I have had many people on my monthly retirement tours try a frappachino at the local Mac Café and agree with me 100%.

When retirees and especially tourists come to Costa Rica, it usually takes them some time to used to dealing with the local currency called the, colón. Just when newcomers are getting used to making purchase with Costa Rican coins and bills a big change was announced.

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.

Last week two articles appeared extolling the Costa Rica’s beauty. The first was by Gill Williams and appeared in England’s The Mirror. The second article was by Gisela Williams and appeared in the New York Times.

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.

People who are thinking of taking my tours should do so now since I read in today’s newspaper that the conomic crisis is almost over in Costa Rica. Our little country has recovered faster than the United States.

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.