The estimated GDP for 2017 is US$61.5 billion, up significantly from the US$52.6 billion in 2015 while the estimated 2017 per capita (purchasing power parity) is US$12,382….Economy of Costa Rica.

Spanish is the official language of Costa Rica: it’s also the most widely spoken language throughout the country. All official business and major newspapers are in Spanish, whereas English is widely used in areas frequented by tourists.

Having fluent Spanish in Costa Rica is not essential, but it may help you to avoid embarrassing situations. In tourist areas, you’ll have more English speakers, of course, especially at hotels, shops, tour companies, and bars and restaurants. But be persistent and speak it, even if you get replies in English.

Costa Rican colón

Using US dollars Something many visitors to Costa Rica find convenient is the fact that U.S. dollars are accepted virtually everywhere. This means you won’t have to waste a lot of time converting your cash into Costa Rican colones before you can start shopping.

Tipping in Costa Rica is not mandatory, though restaurants do add a service charge on the final bill that includes 10 percent gratuity. This is considered a sufficient amount for a tip when dining out, but you can always leave a few extra colons (or CRC) if the service exceeds expectations.

Food and Dining Out You can expect a lunch or dinner to cost around $5-7. Costa Rica’s staple meal is called a casado, and it includes rice, beans, salad, meat, maybe some plantains, and a savory sauce.

Alcohol, or liquor in Costa Rica, can be quite expensive, depending a lot on what you drink and how much. Very important to know is the fact that there is a lot of contraband around, most of it is bad quality liquor. If a liquor bottle does not carry the interior dispenser cap, it’s probably adulterated liquor.

A trip for two weeks for two people costs ₡1,163,694 in Costa Rica. If you’re traveling as a family of three or four people, the price person often goes down because kid’s tickets are cheaper and hotel rooms can be shared. If you travel slower over a longer period of time then your daily budget will also go down.

Eat on a Budget in Costa Rica – Restaurants

1. We suggest eating at local places called “sodas” if you are trying to stick to a budget.
2. Another option is to eat a large meal at lunch and just snack for dinner.
3. Don’t be shy about asking for a to-go box in Costa Rica.

Tap water in Costa Rica is generally clean and safe to drink. In some areas of the country, though, mainly on the Caribbean side and in non-touristy pockets around the country, it’s best to stick to bottled water.

How Much Does Beer Cost in Costa Rica? One beer from the grocery store costs about 720 Colones or $1.25 US. If you want to have a beer at a restaurant or bar, you can pay between 1,000 Colones ($1.75) and 2,000 Colones ($3.50) for Imperial beer which is the local Costa Rican light beer.

Cost Comparison Chart:

Top Ten Complaints about Living in Costa Rica

• It’s not like home.
• It’s not necessarily cheap.
• Crime and corruption are problems and getting worse.
• Health care costs less but Medicare and other U.S./Canadian insurances are not accepted.
• Traffic is horrific and getting worse everywhere.

Prices for prostitutes ranged from between $100 to $150 but buyer-beware is a good maxim not to forget in Costa Rica. Some women of the night will stay with you all night and others will be checking their watch and after 20 minutes.

One option to finance a home purchase in Costa Rica could be owner financing. Some owners are willing to finance, probably at 50% LTV (Loan To Value) or less, for a short period like 2 – 5 years. Some developers in Costa Rica offer owner financing options for foreigners without residency.

After two years of pensionado, rentista, or inversionista status, application can be made for permanent residency in Costa Rica. This is usually unrestricted, and working is permitted. Citizens of Spain can apply for permanent residency right away. Permanent residents must visit Costa Rica at least once each year.

Affordable Day-to-Day Living in Costa Rica A single person can live on between $1,400 and $1,700 a month. Some single people scrape by on considerably less, and others spend hundreds of dollars more, depending on their lifestyle. Many retired couples live well on $2,000 per month and even better on $2,500 to $3,000.

You will be required to put a minimum of 15% down, though 20% is a more common requirement for a primary residence. A minimum 35% down is required for secondary homes and lots. Financing is available in U.S. dollars or Costa Rican colones.

Costa Rica is very safe, but it’s still possible to get burned. Costa Rica is among the safest countries in Latin America. Having said this, when it comes to buying property in Costa Rica, there are still plenty of sharks out there willing to take money from naïve expats looking to buy into their dream.

In fact Costa Rica is considered one of the five best emerging real estate markets in the world. If you look for VALUE properties, you will not go wrong. Many a wise investor knows that to make money, it is often necessary to do the opposite of the masses. Most people are hesitant to invest now.

Can a foreigner purchase Costa Rica real estate? Any foreigner, resident or non-resident has the same rights as a citizen, except for voting rights in presidential and municipal elections and can, therefore, purchase and own Costa Rica real estate legally. -A foreigner cannot own 100% of a property in a Maritime Zone.

90 days

Costa Rica provides universal health care to its citizens and permanent residents.

Expats in Costa Rica: Pros and Cons of Living in Costa Rica

• Pro: Costa Rica Has Beautiful Beaches and Rainforests.
• Pro: Costa Rica Has Astonishing Biodiversity.
• Con: Expats Have Had Mixed Experiences with the Public Health Care System in Costa Rica.
• Con: You Need to Choose Where You Live Carefully in Costa Rica.

Costa Rica is expensive – certainly, it’s the most expensive country in Central American and one of the most expensive in Latin America (though we still save 33% over our U.S. cost of living). And Costa Rica has a high rate for robberies and burglaries, like much of Latin America.

Is it expensive to live in Costa Rica? Generally: no. The average cost of living in this tropical country is less than 2,000 USD, and most of that is due to housing costs. Expats who want to spend even less should look at studio apartments or places that are away from the main cities and tourist areas.

Main problems faced by children in Costa Rica:

• Poverty. One Costa Rican child in four lives below the poverty line.
• Health.
• Education.
• Child labour.
• Violence against children.
• Child trafficking.
• Children of Minorities.