Costa Rica gets good marks on quality of life, prosperity

Costa Rica has been ranked 32nd of 104 countries in the third edition of the Legatum Prosperity Index. The country ranks higher than any other Latin nation. Uruguay, the next highest, is 33rd.

The rankings are put together by the Legatum Institute with the help of Oxford Analytica and a panel of experts in economics, development, history, sociology and science. The index basically tries to measure the quality of life.

In a press release the institute said that Costa Rica got such a good ranking because it scored high in innovation. The institute said that the country created nearly 4,000 new businesses in 2007.
Legatum says on its Web site that it is an international investment group whose mission is to create a legacy of enduring significance in the global capital markets, while applying the same principles of effective capital allocation to promote sustainable human development. Legatum means legacy or gift, it notes.

The results of the firm's study were reported by a press release. The data was posted to a separate Web site.

In South America Chile ranked 36 after Uruguay and Argentina was 38. The lowest rankings in the region went to Ecuador at 71, Bolivia at 73 and Venezuela at 74. That was a big jump for Venezuela which was rated 101 the year before.
"In South America the countries with the highest ratings in democratic institutions and personal liberty in general get a good total score in prosperity," said Willaim Inboden, senior vice president of the institute. "In the same way nations that have low levels of internal security and protection, such as Venezuela, are found much lower in the general classification."

Finland headed the general classification followed by Switzerland, Sweden, Denmark, Norway, Australia, Canada, The Netherlands, the United States, New Zealand, Ireland, the United Kingdom, Belgium and Germany.

On the other end of the scale was Yemen at 102, Sudan at 103 and Zimbabwe at 104.

Of Costa Rica and its economic fundamentals, the institute says, based on 2007 figures:
Costa Rica has a high inflation rate of 9 percent as well as an above average unemployment rate of 5 percent. Costa Rican workers have access to a lower than average amount of physical capital, such as office space, factories, and machinery, limiting their production capacity. Costa Rica’s export revenues are low relative to the cost of imports, ranking the country in the bottom quartile on this variable. With a wide lending and borrowing margin, the Costa Rican banking sector displays low levels of competition
and efficiency. However, lending seems strongly regulated as only 1.2 percent of all loans defaulted in 2007, ranking Costa Rica 20th on this variable. Costa Rica enjoys a high level of foreign direct investment equalling 7 percent of GDP, indicating that it is attractive to foreign investors. At 23 percent of GDP, household expenditure is below average, while a domestic savings rate equivalent to 25 percent of GDP seems moderately strong, ranking Costa Rica 62nd, internationally. Costa Rica does not show symptoms of over-reliance on revenues from raw materials exports, with a concentration level of less than 10 per cent.
The institute ranked the country 55 in this category.

Of this country's democratic institutions, the institute said:
Costa Ricans have very high levels of political and civil liberties, but their rights to participate in political processes and to express their opinions and affiliations are limited. Despite this, the country’s political system is characterized by high levels of open political competition amongst multiple parties for appointments at both executive and legislative levels. However, once in power there are few political checks and balances in place to prevent actors from changing legislation arbitrarily. The judicial system is independent from the other branches of government, preventing interference in the legal processes from this source. The current governmental system has been in place for over 80 years, ranking Costa Rica eighth on this measure of political stability.
It ranked Costa Rica 28th in this category.
In all, Costa Rica was ranked second in the hemisphere after Canada and the United States.

Of innovation and entrepreneurship, the institute said:
With approximately 23 personal computers per 100 people, and 67 secure Internet servers per million people, a significant share of the Costa Rican population has access to a moderately fast and secure Internet connection. The country has also managed to achieve impressive ICT exports equivalent to around 29 percent of total exports, and high-tech exports equalling 45 percent of manufactured exports, placing the Costa Ricans in the top 10 on both these indices and pushing up their overall ranking for this sub-index. Value added in the service industry also stands above average at 62 percent of GDP, indicating a fairly strong, service economy. However, with 11 procedures required to set up a business, barriers to entry are well above the global average and may have deterred some entrepreneurs, as only 3,933 new businesses registered in 2007, ranking Costa Rica below the international median. Royalty receipts are also low, meaning that Costa Ricans’ ability to capitalize on their intellectual property is limited. Expenditure on R&D is below the international average at only 0.3 percent of GDP.

The nation was ranked 33rd in this category. The bulk of the exports, although not mentioned by the Institute, were from Intel Corp. and its associates.

Limón, Costa Rica Receives $1 Billion To Boost Tourism

Exciting things are happening on Carribbean coast of Costa Rica.
Here's an article from Niewireinvstor.com

"A billion-dollar gentrification project is going to transform a forgotten port town in Costa Rica into a major Caribbean hot spot. If you get in on the right side of this massive cash injection, you could make a lot of money.

A billion is a lot to spend on a scheme like this. But Limón needs a lot of work.

For much of the last century, Limón was a company town. The controversial United Fruit Company managed the port, built the railroads and bridges, looked after the colonial buildings, and ran the local businesses."

To read full article follow the link: Limón, Costa Rica Receives $1 Billion To Boost Tourism

Costa Rica is world's greenest, happiest country

Latin American nation tops index ranking countries by ecological footprint and happiness of their citizens.

Costa Rica is the greenest and happiest country in the world, according to a new list that ranks nations by combining measures of their ecological footprint with the happiness of their citizens.

Britain is only halfway up the Happy Planet Index (HPI), calculated by the New Economics Foundation (NEF), in 74th place of 143 nations surveyed. The United States features in the 114th slot in the table. The top 10 is dominated by countries from Latin America, while African countries bulk out the bottom of the table.

Click here to read the full article at www.guardian.co.uk

Is It Time to Bail Out of America?

Another year has come to an end and I don’t know about you, but short of 2001, I can’t remember a more tumultuous 365 days than 2008. No need to rehash the gory details. If you don’t mind I’d like to think positive thoughts and start the New Year on a high note.

I know it’s hard to believe, but there are plenty of good things to look forward to in the New Year, especially on the investment front, provided you know where to look. I know what you’re thinking.
Optimism?
Investment?
In this economy?

Yes, even in this economy.

If you have money to invest, you can’t just leave it lying around collecting dust, earning paltry returns off the interest of savings accounts just because we’re “officially” in a recession. Getting the most from your hard earned money means making smart
investments--whether you’re a new investor just starting out or a seasoned investor with an impressive portfolio and the requisite millions stashed away in some tropical offshore account. And even in times like these, the key to making smart long term investments is a matter of recognizing great opportunities and seizing them. Especially investments offering savvy investors a low cost of living, excellent, inexpensive healthcare and a safe, secure place to live and call home.

Such opportunities still exist in a truly magical place that serves as a haven for weary, over stressed vacationers, paradise found for surfers looking to stave off hibernation during the winter months in water that stays warm all year long and the ideal addition to any portfolio for those seeking sound, long term financial gains.
In fact, savvy investors have been flocking to this wondrous locale for decades now.

Of course I could only be talking about Costa Rica--and to be more precise, the Limon region. Located on the Southern Caribbean cost, Puerto Limon has become Costa Rica’s premiere port town in recent years.

Stretching for some 125 miles between the borders of Panama and Nicaragua, this breathtakingly beautiful province was discovered by Christopher Columbus in 1502.
Frankly, investing anywhere in Costa Rica is great idea, but I’m especially excited about Puerto Viejo. What makes Limon in particular so special? There’s a new development taking shape here called the Los Cielos Estates that is just too good to pass up. Located just 40 minutes south of Puerto Limon, just outside Puerto Viejo, the Los Cielos Estates development is beautifully designed, well thought out, ground has been broken and construction is well under way.

This exclusive, private, gated community boasts scenic woods and sprawling creeks, surrounded by stunning views of majestic mountains. A private pathway leads from the property to a secluded private beach just a few hundred yards away. Los Cielos offers private horse stables on the property, so you can saddle up and explore it to your heart’s content. And with hundreds of species of birds, sloths, monkeys, reptiles and countless additional exotic species right outside your door, there’s plenty to see. Lot sizes start at one and a half acres, so no matter how much property you buy, you’ll have plenty of room to stretch out. Stewart Title Insurance guarantees a clean property title. And when you're ready to make your dreams of owning a home in Costa Rica a reality, Los Cielos Estates is ready and willing to help with all of the details. They’ll even assist you with selecting a builder, work with you on the design, and provide construction oversight if you need it.
For added convenience, Los Cielos works with a California based architectural company that offers several tropical home plans to choose from.
The best part?
It costs a lot less than you think to gain a foothold in this Costa Rican dream. Amazingly, prices at Los Cielos Estates start at only $50,000. I don’t have to tell you, that prices like that are unheard of these days in Costa Rica. Obviously, such low prices are due to the “early bird” nature of the market on the Caribbean side of the country. (And you know what they say about the early bird.)

A word to the wise: You can expect to pay four times that amount for similar properties on the Pacific side. So, it goes without saying that at Los Cielos, time is of the essence. Interest is running high as the word gets out and more and more investors are discovering the incredible values on this side of Costa Rica.

John Wessman and his wife Joanna recently purchased property in Los Cielos and they couldn’t be happier. “My love and I have for many years said we where going to buy a piece of paradise in Hawaii, well we let too much time get by and got priced out of Hawaii. But when we felt Los Cielos we knew one of the reasons why we waited, it is pure, and it is the real PEACE in PARADISE. You know it is the place when you have that cold Imperial Beer, with your feet in the sand, listening and feeling the peace that the ocean brings in paradise. That is Pura Vida!!”

So, long story short, if you’re considering moving here or investing in Costa Rica, this is a must see project. Truth be told, the only thing I enjoy waking up to more than the sounds of all the many exotic birds and the ocean right outside my door, is waking up to the realization that investing in land in Costa Rica was one of the best decisions I ever made. Who says you can’t mix business with pleasure?

Escape the Rat Race and Retire Young

A friend of mine retired to Costa Rica from northern California at the age of 40. He lives in his debt-free small hotel, which is run by his hotel manager and enjoys a healthy life eating his fill of fresh fruit and seafood daily. He was able to retire early because he moved to Southern Caribbean part of Costa Rica, which is one of the world's best retirement destinations.

Four years ago, he sold his Northern California home at a tidy profit. He took the money he made on the sale of his home and bought a piece of land in Costa Rica and built small hotel consisting of main house and lobby where he resides and five cabanas which he rents. He bought it free and clear because he likes the fact that he is not indebted to anyone.

He sold many of his belongings and the rest he packed in his two cars and with the help of his friends they drove it to Costa Rica. From the border at Nogales, it was one in the lifetime eleven day drive. They drove through Mexico, Guatemala, Salvador, Honduras, Nicaragua and to Costa Rica.

He's settled into life quite nicely here. He owns a beautiful tropical hotel built out of exotic wood with gorgeous swim-up bar an in-ground swimming pool, and outside gourmet kitchen. He lives frugally but well off income he gets from hotel rents, the interest he earns on his savings and investments.

His typical day goes like this: He wakes at about 6 a.m., enjoys freshly roasted Costa Rican coffee and a little papaya or mango for breakfast, and checks e-mail and the news from home. Then he welcomes Jorge (the guy who runs his hotel) and takes the dog for a walk on the beach, which is about 200 yards from his place.

Other days he may go to the local tienda (local grocery store) where he'll stock up on fresh fruit or buy the ingredients for seafood chiopino. On the way back he'll buy freshly caught tuna or barracuda and the crab for about $1 per pound.

After the hour long walk or jog along secluded white sand beach and swim in 85 degree crystal clear ocean water it's time to start thinking about lunch. But only after a quick dip in the pool. For lunch he might go to a favorite restaurant that has the freshest and most delicious local foods, and a beverage for $6. Some days he'll drive 30 minutes to border town with Panama where he can buy duty free products and more-than-he-can-eat best free range rotisserie chicken for $5. Washed down with a $1 beer, of course.

Then it's back home for a siesta. But first he has to pay his maid $10 for a full day's work. After another late-afternoon swim, my friend will usually sit down with hotel guests and listen to their rat race stories. Or grab a book and hit the hammock. After another stroll on the beach, he's ready for dinner. Since he had a big lunch, he'll most often head for one of the towns food establishments that offers free live music. (In Puerto Viejo, you can find free entertainment somewhere in town every night of the week.) He might pay a couple of bucks for huge slice of local gourmet pizzas maybe another buck for a fresh watermelon, pineapple, or orange juice.

Some night’s he'll opt for a nightcap at one of the many local bars along the beach. Finally, he'll head for home and a good night's sleep so he can do it all over again the next day.

If this sounds like a good life, I can assure you it is. This economy has taught us that there is NOTHING wrong with living debt free and enjoying the simple things in life.

"If I were still in the States I'd still be working and watching my 401K going down. Hoping that when I turn 67 I can retire and be able to take my dog to the local city park for walk and share my worries about economy, government bailout plans and my health coverage with others"- he says. Instead, he's happy, stress-free, and retired at 45...in the world's best retirement destination.

“I do not want to spend my whole life working to retire at the age of 67 and STILL pray that I do not outlive my savings. What kind of lifestyle is that? I’m enjoying the best years of my life!”