The central banks of both the United States and the European Union have approved measures to lower risks to the ethical economy. Together, these markets represent 63% of the $7,000 million in sales of exported goods and 59% of tourists to Costa Rica, so their economies matter a lot to Costa Rica. If they are in bad shape, people will be less likely to buy our imported goods and take trips, negatively affecting the Costa Rican economy.
Both countries reduced their interest rates following signs of a possible recession. This is a positive move for debtors in foreign currencies and the placement of Eurobonds for the Costa Rican government.
Costa Rica is also doing its part to combat the issue. The ICT has launched a campaign in New York City called “Only the Essentials.” It’s meant to attract American tourists, which represent 44% of the 1.7 million visitors to Costa Rica between January and July of this year.
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