Top 10 Costa Rica

Soul Surfing School of Laguna Beach recently returned from a week long surf trip over Spring Break to Costa Rica with Thurston and Laguna Beach High School students. The students explored the jungles of Manuel Antonio National Park on the Pacific coast discovering lots of wild creatures. Among them were monkeys, crocodiles, sloths, bats, iguanas, hawks, giant turtles and several scary bugs. Thurston student Jordan Wills was overheard saying while in the jungle, “this is like walking into an episode of the Discovery Channel.”

The students got to help out a group of Costa Rican youth by pitching in to build a skateboard ramp in the town of Jaco and helping landscape a church property. Laguna High School student Wyatt Coloty on helping out said, “I’m stoked that we get to hang out with the local kids and build a skate ramp that they can ride and have fun on. I can’t wait to go back and see how good the kids get at skating.” The local youth center leader Doug Pena said that the skate park helps give the kids a fun and healthy option in a town that has it’s share of drug issues amongst youth.

The surf was amazing in Playa Hermosa. Warm waters, sunny skies and friendly locals gave all the students and coaches lots to talk about over dinner each night. Coach Chris Williams commenting on the kids surfing during the trip: “when you travel far from home you really hope that there will be fun waves, this trip provided tons of great waves and memories.”

The plane ride home was filled with laughter, recounting of best waves, and bonds that will last a lifetime.

This week, Grizwald and the gang at Frontier Airlines are experiencing a case of spring fever and travelers will reap the benefits. Frontier is having a major seven-day sale running through Monday, April 21, 2008. Flyers can take advantage of fares across the United States, Mexico and Costa Rica as low as $49* each way. Sale-priced tickets must be purchased by 9:59 p.m. MDT on April 21, 2008, for travel through May 21, 2008. Along with low fares, Frontier’s flyers can enjoy 24 channels of DIRECTV, a choice of four pay-per-view movies and the comfort of traveling aboard one of the youngest fleets in the industry. For a complete list of fares to all of Frontier’s destinations, please visit FrontierAirlines.com.

Frontier Airlines

CONTACT: Corporate Communications of Frontier Airlines, +1-720-374-4560,
media@flyfrontier.com

Web site: http://www.frontierairlines.com/

Costa Rican environmental authorities have closed three hotels in a Caribbean wildlife preserve in this Central American country for causing environmental damage, officials said.

During a surveillance and inspection operation, local authorities decided to close a recently built hotel Thursday, since it was constructed on the wetlands of Playa Negra, 185 kilometers (115 miles) southeast of San José, and also closed the extensions of two other already existing hotels.

Officials at the Environment and Energy Ministry told Costa Rican press Friday that among the irregularities detected in the first case was the construction of a three-kilometer (two-mile) road across a land-sea zone that, according to the law, must remain in its natural state.

Construction works to enlarge another of the hotels were stopped when it was found that a large quantity of trees had been cut down for use in the building project.

Hotel Almendros y Corales (Almond Trees and Corals), with four leaves of Costa Rica’s five-leaf sustainable tourism certification, has been implicated.

We’re going before the environmental tribunal to find a solution. The complete project measures 2,400 square meters (25,800 square feet) and we have worked 20 years for the conservation of the preserve. If we’ve done anything wrong, I take full responsibility and will offer a corrective plan, Aurora Game, spokeswoman for Almendros y Corales told the daily La República.

José Lino Chaves, president of the Environmental Administrative Tribunal an agency of the Environment and Energy Ministry warned of the impact that home and hotel construction is having on the preserve, located in the southern Caribbean region of the country, and said that the surveillance will continue.

The new Miss Costa Rica Universe 2008, Maria Teresa Rodriguez, was crowned on Friday April 11, with a haute couture theme reminiscent of Milan, Victoria’s Secret, and worldwide fashion weeks. Channel 7, owners of the Miss Universe franchise in Costa Rica, combined the beauty of the Costa Rican woman with fashion sense, which made a perfect alliance of creativity, taste and innovation.

The winner, Ms. Rodriguez, is 21 years old, and stands at 170 cm (5 feet 7 inches) and studies Marketing. The runner-up was Marilyn Marin, followed by second runner-up Diana Mackenzie. The panel of judges were: Marianela Dobles, ex Miss Costa Rica; Mike Blum, German photographer; Lorena Velasquez, TV presenter and international chef; Nancy Soto, ex Miss Costa Rica; and Luis Kaver, odontologist.

CLEVELAND — Rising diesel prices may convince a Central American country to divert exports from Miami, Florida to Cleveland, Ohio.

Down at the Port of Cleveland, the longshoremen are masters of unloading the salties, the big ocean going freighters. With the Great Lakes open, the ships arriving in port are on a tight schedule.

In Cleveland Friday the docks were busy as huge 15 ton coils of steel were unloaded from the Netherlands. But by this time next year, the crews could be handling big containers of pineapples from Costa Rica.

For many years companies in the Central America would ship almost everything to the overcrowded port of Miami, Florida. The merchandise would be trucked or sent by train across the country.

But now skyrocketing diesel fuel prices are changing the business model for shippers. It now makes economic sense to keep the containers on a ship and bring the load directly to the Midwest via the Port of Cleveland.

The new plan would have the huge container ships go from Central America up to Halifax, Nova Scotia. Then smaller freighters would take the goods via the St. Lawrence Seaway to Lake Erie.

Steve Pfeiffer, the vice president of Maritime Services at the Port of Cuyahoga, says it makes sense to use Cleveland at the gateway to the Midwest.

“We have such an amazing asset with Lake Erie and our great port in Cleveland,” said Pfieffer. “Because not every community has that. There are no red lights from here to the rest of the world by water.”

At the Cleveland’s famous West Side Market, the idea of shipping those boxes of pineapples from Costa Rica directly to Cleveland and skipping Miami is a winner.

Vendor, Mina Eskander told Channel 3’s Mike O’Mara, “instead of buying the whole box of pineapples for fifteen dollars, maybe it will cost us ten. We can sell it for less and more of our customers are happy.”

Vendors hope that the Costa Rican-Cleveland conneciton catches on. Cleveland Mayor, Frank Jackson, who helped negotiate the new deal with the President of Costa Rica, is determined to spread the message.

“We can’t just keep waiting around and expecting people to discover us,” Jackson said.

Sam Ibrahim, a produce stand owner, said “if they bring it from Miami, that means someone in Miami is making the money. But if it’s coming direct to Cleveland, that’s what we need.”

Costa Rica exported $3.8 billion to the United States in 2006, according to the U.S. Department of commerce.

There has been talk for some time of a presidential decree limiting the height of high rise buildings in Costa Rica since the towers in Jaco started construction. The reason for this decree is because of 2 reasons 1) Costa Rica’s earthquakes could bring one tumbling down, 2) It makes Costa Rica’s Coast line ugly and very Americanised. The decree was signed on Wedensday by the President Oscar Arias and is now in effect on any new developments.

The decree its led limits building height to under 15 metres within 4km of the coast.  Currently if you look at place like Playa Hermosa, Jaco and Tamarindo from the Ocean the coastline is starting to look riddled and ugly with higher rising buildings.  Land in Jaco has got so expensive that the only way for developers to make any money is of course to build up.  The decree is split into 4 distance sections:

1) 0-50 meters from the beach is public property.

2)50-200 meters is ruled by the maritime law and you can construct with concessions.

3) 200-1000 meters = no buildings above 24 meters.

4) 1000-4000 meters is limited to 36 meters.

The decree will set the stage for the next 4 years as the decree is temporary and much like a band aid until a more solid law can be enforced to limit buidlings.  Therefore any developers looking to build high rise buildings may have to wait up to 4 years for the decree to be deemed powerless.  However it it hard to see how Costa Rica will revert back off this decree and allow developers to destroy the air above the beaches.

There is however good news for developers who have already had plans approved as the decree is not retroactive and these approved constructions will not be held accountable to the decree.

Bill Gates met with President Arias in 2007 regarding tech support for Costa Rica.

Anyone who lives in or has visited Costa Rica’s sunny shores knows what makes many of its first-time visitors into repeats: beautiful beaches, impossibly green rain forests, ecologically diverse cloud forests, and one of the world’s most active volcanoes, complete with natural hot springs. The country’s latest famous visitor, Bill Gates, arrived last Friday, April 4, along with his wife, Melinda, and two of his three children, aged 8 and 10.

Bill Gates and his family flew into the five-star Arenal Kioro Suites & Spa yesterday, with more style than most, in a private helicopter. The computer mogul and family traveled first to the Four Seasons in Guanacaste where they have been staying, and opted for a four hour trip to see the hot springs in Arenal, during which time they reserved a suite and the children ordered hamburgers. Their afternoon stay was accented by beautifully manicured grounds, a spa that offers almost every indulgence you can imagine, and spectacular views of Arenal Volcano.

As one of the most active volcanoes in the world, Arenal and its neighboring La Fortuna are one of the most visited locations in Costa Rica. While there, visitors climb to la Catarata de La Fortuna (La Fortuna Waterfall), luxuriate at Tabacón Thermal Resort, boasting some of the area’s most beautiful hot springs, and wait to watch orange lava tumble down the volcano’s side, cloud cover permitting.

After their visit to el Volcán Arenal, Bill Gates and family, informally dressed and looking like any other vacationing family, headed back to the Four Seasons. Located on the Papagayo Peninsula, the five-star resort offers incredible views, a world class spa, and beautiful suites fit for, well, Bill Gates and family.

Papagayo has long been known for its incredible white sand beaches, friendly service, lush vegetation, and almost year-round beautiful weather. Unfortunately, the Gulf of Papagayo has been in the news recently not for its beauty, but for its sewage and pollution problem. The Four Seasons Resort is not directly affected by the pollution, though Papagayo lost its blue flag, helping prompt the country to undergo a proposed $500 million sanitation makeover.

Though Gates is the latest celebrity to visit Costa Rica, the country has played host to several vacationing stars. In fact, love seems to flourish here: Pink and her then-boyfriend, Carey Hart, married in front of 100 guests at the Four Seasons - Guanacaste in 2006. Angelina Jolie and Brad Pitt spent Christmas 2006 and its following New Year’s Eve here, helping Columbian refugees and enjoying the sun. Recently-engaged Ashlee Simpson and fiancé Pete Wentz spent the beginning of 2008 in Costa Rica, as well.

In addition to the country’s visiting lovers, Costa Rica has also lured Mel Gibson, who purchased a $28.5 million ranch along the Pacific, and several famous musicians, including members of Incubus and the Red Hot Chili Peppers, who are known fans of Costa Rica’s big surfing waves.

Clearly, though Bill Gates’ visit to Costa Rica was unexpected, he is not the first celebrity to add a Costa Rican stamp to his well-traveled passport.

There’s no shortage of things to do this weekend in the Central Valley, with arts festivals, national hero celebrations and outdoor food frenzies taking over the streets.

The latest ingredients to be thrown into the mix are 2,000 kilograms of beans and 1,800 kilograms of rice for the first-ever National Gallo Pinto Day Sunday in downtown San José’s Paseo Colón.

The day is in homage to Costa Rica’s favorite breakfast dish, gallo pinto, which consists of one- to two-day-old rice, black beans, diced peppers and onions, Lizano sauce and some other optional herbs and spices.

From 9 a.m. to 3 p.m. organizers are expecting some 30,000 people to attend.

It is an unstated attempt to beat Nicaragua, which rivals Costa Rica’s claim to being the birthplace of the dish, and whose record “ gallopintorama ” in September served up the stuff to more than 20,000 people.

Ticos, emboldened by today’s commemoration of their national hero and airport’s namesake, Juan Santamaría, could be up for the task.

The feast also comes during a weekend of spectacles in the 11th International Arts Festival (FIA) program, which runs through April 20 in San José, Alajuela, northwest of the capital, and the central Pacific port city of Puntarenas. The festival is showcasing the best of Costa Rican performing and visual arts, as well as 70 international arts from 20 countries.

In Santa Ana, southwest of San José, the Luz de Luna Festival is still underway this weekend. Tonight’s “Moonlight” program sees Latin jazz, tomorrow has theater and dance and Sunday, tango and a circus, starting at 6:30 each evening outside Santa Ana Church.
National hero celebrated April 14

Today, April 11, is the actual day, which commemorates one of Costa Rica’s national hero attributed with saving the country from the mid-19th century U.S. citizen William Walker, who sought to turn Central America into a slave-trading colony.

Most Costa Ricans will take off work on Monday, as decreed by the country’s labor law. Anyone who works that day has the right to double pay.

Many institutions and offices including the U.S. Embassy will be closed Monday.

The Arias administration took steps Thursday to discourage the casino business in Costa Rica. Various ministries unveiled a total of five decrees that, among other things:

• emphasize the unenforced restriction that casinos must be within hotels rated at three stars or higher by the Instituto Costarricence de Turismo;

• created a special health permit for casinos that will cost $5,000 a year;

• forbids free alcoholic drinks in casinos;

• sets casino hours at 6 p.m. to 2 a.m.;

• suggests that casino owners and others will have to donate for psychological help for addicted gamblers;

• appears to put the operation of slot machines under the consumer protection laws and demands a payback of 85 percent by the casino to players;

• requires the casino owner to be the same as the owner of the hotel;

• brands casinos as places that can encourage prostitution, drug addiction and insecurity.

The decrees, that will have the force of law when published in the la Gazeta official newspaper, did not establish any other special taxes for casinos. The measures set a six-month window for compliances except some of the major rules, like the one that says a casino must be part of a hotel, go into force immediately.

The decrees also did not address the flourishing business of online casinos that are run without any supervision whatsoever in Costa Rica.

At a press conference to announce the decrees Thursday afternoon there was little said about casinos, such as the Horseshoe at Avenida 1 and Calle 9 that are not part of a hotel. The officials said there were 48 existing casinos that are associated with hotels in the country.

There was no mention of the plans by an international/Russian casino company to set up shop in Costa Rica. The company is remodeling the Hotel Bulevar just off the Avenida Central pedestrian mall. Local officials have vowed to try to keep the company out of Costa Rica.

The rules for having a casino in a hotel say that only 15 percent of the space of the hotel can be dedicated to gambling. This is similar to the contents of a casino proposal that is languishing in the Asamblea Legislativa. A series of casino proposals has been awaiting action for years.

The decrees, on the other hand, are done deals, signed by President Óscar Arias Sánchez and relevant ministers. Some casino operators are certain to appeal the measures to the Sala IV constitutional court. One ground might be the ex post facto nature of some of the rules that are being imposed on existing operations.

One decree is dedicated to the addicted gambler. The decree seeks to cast the condition as a mental infirmity. It cites a 1980 declaration by the World Health Organization.

There were other health concerns. The health minister, María Luisa Ávila Agüero, said that another danger exists when gamblers win a lot or lose a lot and run the risk of having a heart attack. Members of the audience laughed and acted as if the health minister had told a joke, but she quickly said that such events were serious problems.

Another decree spells out the need for a casino to be an adjunct to a hotel and not the other way around. The idea originally was to use casinos to stimulate tourism in Costa Rica. However, Carlos Ricardo Benavides, the minister of Turismo, said that Costa Rica is not Las Vegas and that he does not think people come here to gamble.

The clientèle of most casinos now appear to be residents rather than tourists, although that might not be the case in geographically isolated hotels.
Some casinos in the metropolitan area are 24-hour a day operations and employee armies of dealers and support personnel. The decrees would seem to put people out of work if the time allocated for gambling is eight instead of 24 hours.

The hotel rules say that a casino must be in a hotel with at least 60 rooms. The well-known downtown hotels seem to meet this requirement. The Hotel Del Rey has 104 rooms, employees said. The Sleep Inn, the hotel associated with the Casino Colonial, has 86 rooms. A casino can have 10 gaming tables for the first 60 rooms. There are increments after that.

One problem for the Casino Colonial will be the fact that the management maintains two casinos on the premises. A smaller one is a non-smoking casino. The decrees forbids more than one casino per hotel.

The casino also can have one slot machine for each hotel room, said the decrees. Until now there did not seem to be any oversight on the payback of slot machine money as winnings. The decrees say that payback must be at least 85 percent, and there is a complicated certifying process involving the Ministerio de Gobernación, Policía y Seguridad Pública. Some Las Vegas casinos promise a 97 percent payback. The decree also prohibits slot machines anywhere but in casinos.

The decrees were constructed by an executive branch commission that was set up just last March 26. Also deeply involved in the drafting was Laura Chinchilla Miranda, vice president and minister of Justicia y Gracia. She also is the acting security minister until April 25.

Storm International is the company that said in late February that it would invest $5 million to refurbish a downtown hotel. The casino rules seem to be directed at this newcomer. The proposal would just meet the decreed requirements. The project will include a 60-room hotel, said the company at the time.

Storm International said it is diversifying and opening casinos overseas because of restrictive laws being passed in the Russian Republic that require the firm to put casinos in geographic zones. Costa Rican officials are nervous because Russian gambling operations and many other businesses are influenced by ex-KGB officials who are ruthless in business and related criminal activities.

Costa Rica has recently caught many eyes as a hot tourist spot but also as a great place to purchase real estate. With so much public attention and a vast number of tourists visiting Costa Rica every year, the country offers a great investment environment for real estate. Below are seven great reasons to invest in Costa Rica Real Estate.

1. Stable Government:

Costa Rica is a democratic republic with three branches of government and has enjoyed one of the most democratic governments in Latin America. As of 1948, Costa Rica abolished it’s army and since 1949 has enjoyed its peaceful democratic existence, often being referred to as the “Switzerland of Central America”. The government is one of the people and one that very much sees the value of tourism. Over the past few years the government has incentivized foreigners to come and retire in Costa Rica. Stable government ensures that the money you put into your property is safe. Political turmoil will never be a reason for illiquidity in your Costa Rican investment and also provides reason why Costa Rica is a great place to buy. There are many other locations around the world that investors think of to go and buy, but stability is very important and should play a huge factor in anyone’s investment decisions.

2. Stable Currency:

Investors want to know if their money is safe in Costa Rica
Stability of the government has helped to maintain a solid and stable currency.
The Costa Rican colon, also denoted as CRC is the official currency of Costa Rica. (Currently $1 USD = 516.245 CRC). Colones come in notes of 1,000 up to 10,000.
US Dollars are also accepted as legal tender in Costa Rica. Both are widely accepted and exchanged throughout the country with approximately 90% of the places of business in the country accepting the US Dollar.

3. Tax Incentives:

This seems to be the one everyone loves! As mentioned earlier the Costa Rican government has created one of the most attractive investment environments in Latin America.

Capital Gains Tax= 0% in Costa Rica. The capital gains taxes are exempt for a business if the money is derived from an activity that is not the normal course of business for the company (This exemption is established through the use of SA, or Sociedad Anonima). Property Taxes in Costa Rica = .25%. This rate is significantly lower than most places in the world. As a result people are buying in Costa Rica which increases demand and ultimately increases value. There are not many places where you can buy a piece of property that has incredible appreciation potential with such low holding costs.

Corporate Tax: The Sociedad Anonima (S.A.)
These forms of corporate structures allow owners of property to keep their names away from the corporations they own (literally translates as “anonymous society”). Ninety percent of all property in Costa Rica is purchased through these S.A.’s. When a property owner purchases property through these S.A.’s they use a shareholder’s loan to fund the purchase. Rental income generated is taken out of the corporation as dividend income and deducted against the initial investment and thus no taxes are paid.

Income Tax: Only income generated in Costa Rica is subject to income tax
Costa Rica offers large amounts of income to be deductible and free from any tax

**all tax information should be verified by independent tax professionals **

4. Proximity to Major U.S. Cities:

When investigating vacation destinations and environments for second homes or investment property, it is important to factor travel times to the destination. Costa Rica’s proximity to major US Cities gives even more reason why investors are buying property in Costa Rica. Great tourist destinations need to be close and easily accessible.

Major US Carriers offer direct flights to and from Costa Rica from the following international airports (3-5 hour flight times)
-Miami
-Houston
-Atlanta
-Dallas
-Chicago
-New York
-Los Angeles
-Toronto

5. Healthy Local Economy:

For baby boomers and entrepreneurs, spiraling costs of living abroad, oppressive taxes and government regulation in the US have placed Costa Rica high atop the list of places to retire without sacrificing standard of living. This is what savvy investors are looking for!

6. No Ownership Restrictions:

Foreign Ownership is promoted in the country of Costa Rica. In many foreign countries fee simple title is only available to locals and without titled ownership your investments can be at great risk. All foreigners enjoy the same rights as Costa Ricans when it comes to real estate ownership. Titled, fee simple properties are all registered in the National Registry of Costa Rica properly protecting your ownership rights.

7. Excellent Lending market:

Prior to 2006, there was no market for lending in Costa Rica and investors bought and sold property on a cash basis. With the recent surge by worldwide and US lenders as well as the strengthening of the Costa Rican market, financing at reasonable rates is now an available option. This addition to the real estate industry has made it possible for many more investors to buy property in Costa Rica and will only increase the demand over time.

As you can see there are many great reasons to invest in Costa Rica. Many people believe that it is too late to make any money. This is not the case! The time is now to invest in this beautiful country and incredible vacation spot.

- Celebrity bloopers here

The 14-year old who received a kidney transplant from a murdered girl, was sitting up and talking Wednesday, reported his mother.

The youth, Brandon José Sancho Campos, received a kidney transplant soon after doctors told his family that he would not live much longer.

Sancho’s mother Rosibeth Campos, travels to Hospital Mexico daily on a bus to visit her son. The drive is about an hour from her home in San Rámon, Alajuela, said Ms. Campos, who made the trip alone Wednesday.

Ms. Campos was clad in a pink polo shirt and had a bright face despite the news that her son will have to stay hospitalized longer than first expected. She is worried about her child, she said, because she heard about another boy whose body rejected the kidney he was given. But so far everything is functioning well for her son, who was sleeping Wednesday afternoon, she said.

Ms. Campos was ready to donate her kidney but was told at the last minute that her heart was not strong enough for the operation. Just when all seemed lost, the parents of a girl fatally shot over the weekend decided to donate their daughter’s organs. The 11-year old girl was killed when robbers chasing her uncle shot into the family’s house in San José.

By the A.M. Costa Rica staff

Like most countries, a lot of people in Costa Rica will have their hand out waiting for the tip (la propina).

Restaurants

Costa Rica is a little bit easier as the number one tipping spots are restaurants and bars, and generally they already add ten percent (10%) to the bill before you get it. It is almost always right there below the food/drink and just above or below the Tax (impuesto).

So what do you do? Nothing? Tip a little?

The majority of Ticos eat out and never leave anything extra, so it is simply not expected. That is their culture and many Tico friends think I am nuts to add anything. I feel that 10% is a bit low, so when I am in a restaurant, I evaluate the service and may add another 5% (easy to do… just take the 10% shown and add back half). If the service was just so-so, I will not add anything. In any case, you will never get “the look” from a waiter normal only receives the 10%.

Hotels

For anyone handling my luggage, I give $.50 per bag. I give bit more if the person had to climb stairs or walk a mile to get to our room.

The maids, (mucamas), don’t make a great living, so when I check out; I always leave about a dollar per day of visit. Sometimes if I am going to be there for several days, I may give her something on the first day. Amazing how the room seems to get better attention!

Those parking guys

Everywhere you go in San Jose and in many other areas, there are these guys who sort of guide you into your parking space, supposedly watching your car while you are eating, shopping, whatever, and guide you out, and times stopping the traffic for you. I always give them 200-300 colones, about $.50 or a little more. Like the hotel maids… they won’t be retiring on their tips and their lives are hard.

Airport

After you leave customs, you exit the airport and have to turn in your cart. If I am traveling light, I just carry it myself. But if I have 3 or more bags, I get a skycap to assist me to take the stuff to my car or through to the Arrivals area if I am being picked up. Same deal as the hotel handlers, $.50 per bag.

US dollars (not coins) are always welcome as tips.

The Instituto Costarricense de Electricidad (ICE) put the brakes on the expansion plans by Radiográfica Costarricense (RACSA) - a subsidiary of ICE - to invest millions in internet service, to stop the competition.

RACSA had plans to invest us$300 million dollars in a fibre optic network that would permit 360.000 internet connections to residential and commercial customers. The fibre optic network would provide wide band service of up to 20Mbps.

Notwithstanding, the president of ICE, Pedro Pablo Quirós, Racsa will be stopped from competing with the institution and there is no need for RACSA to have its own fibre optic network.

“Imagine the ridicule, doing this ‘A La Tica’ (Costa Rican way of doing things), RACSA digs trenches and then after they close them, we come along to add things to it, duplicating everything”, said Quirós.

ICE currently has a fibre optic network providing a connection of up to 4Mbps, much lower than that proposed by RACSA.

The RACSA expansion plan was approved by its board of directors, of which Quirós is a member, last October 17 and includes an investment of us$100 million dollars in a data centre and another us$100 million dollars in applications and value added services.

Quirós was emphatic that RACSA should concentrate on value added services and applications and has no need for a separate fibre optic network.

The ICE president added that the institution is evaluating the transfer of RACSA’s 20.000 internet client to it, adding that it would be done as part of a process of restructuring, however, no details on the plan are yet concrete.

The president of RACSA, Róger Carvajal, has yet to offer comment on the plans by the parent company. Although some 300 Racsa employees sent a letter to ICE questioning the validity of the plan to take away internet from RACSA.

Quirós, like a hardnosed parent, said that ICE is preparing a proposal where RACSA will be told “this is what we want and the way we want it”.

The plan is expected to be present to RACSA on December 15.

The Costa Rican government has announced that its economy will not suffer a downturn from the U.S. slump. For the first time in 50 years the Costa Rican government was left with a $174million budget surplus. It is expected that the U.S. slump will do no more than limit Costa Rica’s growth to 3.8%, down from 6.8% last year. Costa Rica has long been one of the best developed Latin American countries, because of forward thinking leadership.

Disbanding the military in the 70s freed up millions of dollars to develop the country’s health and education sectors as well as the infrastructure. Thanks to that move, Costa Rica has a 95% literacy rate and one of the best educated populations in the Southern Hemisphere.

From starting life as a banana republic reliant on Banana and coffee exports, Costa Rica now has flourishing hi-tech and medical manufacture and export sectors, and services sector, on top of a rapidly growing tourism sector and successfully diversified agricultural export sector.

The hi-tech sector has attracted companies like Panasonic and Intel, the latter having invested some $800million into Costa Rica’s coughers, with plans to invest a further $90million this year. 11,000 Costa Ricans are employed in the hi-tech industry, and hi tech exports were valued at over $2million in 2005. The fact that Intel has invested so heavily and continues to invest shows that it is still a growth sector. Working from developing countries like Costa Rica keeps costs down and profits up — a portion of which is then reinvested in said developing country thus keeping the growth cycle going.

The agriculture sector has had to diversify because of regional competition and a changing global economy, but Costa Rica’s agricultural industry has stayed strong by changing with the market. Costa Rica has complimented its original coffee and banana exports with pineapples, watermelons, papaya and tropical flowers, as well as diversifying agricultural methods to capitalise on new fair-trade exports, and luxury organic produce.

Costa Rica’s perhaps less talked about industry is its flourishing services sector, with companies like Western Union, Microsoft, Unisys and Oracle operating call centres in the country.

Tourism to Costa Rica grew by 10.6% 2006-2007, receiving over 1.6 million visitors last year. Costa Rica has also been clever enough to diversify its tourism industry to keep up with demand, and is now offering eco-tourism holidays and medical tourism (plastic surgery) holidays.

This ability to adapt to changes in the global economy makes the outlook for Costa Rica’s economy bright, and a property investment there even brighter.