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PESTEL Analysis Costa Rica

Political Analysis

• Costa Rica has emphasized strongly in the development of democracy and respect for human rights.

• Costa Rica lacks armed forces therefore they are free of military infringement.

• Costa Rican law protects the formation of contracts.

• Costa Rican law protects Copyrights, Trade Marks, Encrypted Program-Carrying Satellite Signals, Industrial Designs, Patents, Geographical Indication, Trade regulations & tariffs.

• The US is Costa Rica’s main trading partner

• Anti-trust laws are enforced in Costa Rica to maintain fairness between businesses. (Central America Data, 2008)

• Costa Rica has no official pricing rules.

• Individuals and businesses living in Costa Rica are obliged to pay income tax only on income derived from sources within the country.

• Minimum wage in Costa Rica ranges from 107,883 Costa Rican colones a month for domestic employees to 397,665 colones for university graduates.

• The workweek is 6 days.

• A 60% pension in the last 240 months in mandatory after 62 years.

Economic Analysis

• Costa Rica is part of U.S.-Central America Free Trade Agreement (U.S.-CAFTA) and TLC which means Free Trade Agreement.

• A big advantage of Costa Rica is its relationship with the US and the fact the Costa Rica is the US most important trade partner.

• Currency: Costa Rica Colon (CRC).

• 1 US dollar is equivalent to 504.84 colones.

• Property taxes are only 0.25 %

• GDP (2010): $38.27 billion.

• GDP PPP (2009 est.): $48.19 billion.

• Inflation (2010 est.): 6.9%.

• Real growth rate (2010 est.): 3.6%.

• Per capita income: (2009) $6,900; (2010 est., PPP) $10,569.

• Unemployment (2010 est.): 6.7%.
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