Tiquicia

Foreign Investment Expected to Fall

Direct foreign investment is expected to fall some $245 million according to an estimate by the Costa Rican Central Bank.  In 2007 direct foreign investment reached $1.885 billion and is expected to fall to $1.640 billion this year. The reason stated is the recession in the United States since in 2007 over 50% of every $100 that was invested into Costa Rica came from that country.  The primary sector that will be impacted is real estate. In 2007 the sectors that received the lion's share of foreign investment were industrial, real estate and tourism. For instance the industrial sector received $435 million in 2006 and last year that figure increased to $691 million.  Real estate increased some 70% from 2006 to 2007, surging from $373 million to $638 million. And tourism had the largest increase, from $132 million to $329 million. The provinces of Puntarenas and Guanacaste were the leaders in the attraction of foreign capital into the tourism and real estate sector and are expected to lead again this year. Projects like the Hacienda el Dorado in Golfito (Puntarenas) and the Hyatt and Hilton projects (Guanacaste) will keep the money flowing into those provinces.  In 2007 investment in Puntarenas totaled $215 million, which was 1/3 of the total direct foreign investment in real estate in 2007 and was 140% more than in 2006 when $91 million was invested into that sector in Puntarenas.  Other provinces received the following investment amounts in 2007: Guanacaste at $127 million, Alajuela at $103 million, San Jose with $89 million, Limon with $52 million, Heredia at $19 million and Cartago at $16 million.  Following the United States. the principal providers of capital were Canada, Germany, Italy, Portugal and France.

Link to La Nacion article (Spanish): http://www.nacion.com/ln_ee/2008/marzo/31/economia1474018.html

President Arias Gets High Marks in Recent Poll

In a recent opinion poll by La Nacion President Oscar Arias received high marks.  79% gave a favorable opinion of the current president, versus 19% unfavorable.  Personally, I believe Arias is doing a stand-up job.  He is half-way through his four year term and progress has been made by his administration on many levels. First, he was instrumental in pushing through the TLC (free trade agreement with U.S.).  Second, he has made country-wide improvements in infrastructure that were long overdue.  These infrastructure improvements are a great benefit to local commerce, tourism and are lending to the continuing increase in foreign investment into the country, mainly in the form of real estate investment and development.  The economy of Costa Rica is strong and inflation is finally on the decrease.  The one area where improvement is urgently needed is in combating the surging violent crime rate that could threaten progress in other areas.  A new law is currently under proposal in the legislature that will increase penalties for violent crime as well as provide for other measures to combat this alarming surge.  I am very optimistic that the "state of the union" of Costa Rica is strong with Arias at the helm and will grow stronger over the next two years.

Pura Vida Arias!

Turrialtico Mountain Lodge and the Rio Pejibaye

I have written before about the amazingly beautiful area known as Turrialba (article appeared in the April 2007 issue of The Zine).  Recently I had another great experience in this natural wonderland.

The place is known as Turrialtico Mountain Lodge and it is located just a few minutes from downtown Turrialba.   I had stayed here once before, and this recent experience reminded me what a wonderful place this is to visit.  I thought I had to share my experience with readers of The Costa Rica Zine.  More specifically, Turrialtico is located on the slopes of the mountains that you must past if you are traveling from Turrialba to Limon, on the road to Siquirres.  It is a small and rustic lodge with incredible views of the valley below (See photo above).  The place is very affordable with rooms in the $60 per night range.  We arrived late and I was starved. Let me tell you the food in the restaurant was delicious, as was the breakfast the next morning. Another thing that really stood out was how comfortable the beds were.  The management of this little place really knows how to make you feel at home.  While eating breakfast we were watching Montezuma Oropendulas flying about.  These are beautiful tropical birds that have a very unique nest (see photo at left).  I would highly recommend Turrialtico as a place to stay in the area.  For those of you who want something a bit fancier, there is the nearby Casa Turire, which is 4-star and a bit more luxurious than the rustic Turrialtico.  I wrote about Casa Turire in the previous Turrialba article.  Both places are highly recommended.

Rio Pejibaye

One of the main attractions of this area (there are many, such as the Turrialba Volcano and Rio Pacuare) is the beautiful Rio Pejibaye.  Rio Pejibaye is less known for rafting than the nearby Reventazon and Pacuare rivers. Nevertheless it is a beautiful place to visit. The day we were there was during Holy Week and many locals were enjoying the cool clear waters of the river.  It is a great river for swimming (there are many deep spots with rocks that you can climb and jump off of you are daring enough, or just watch the locals do it) or you can just sit back and enjoy the natural beauty of the place. It is also a great place to go biking as well.  The next time I go there I am going to see how the river fares for tubing (I did see some locals enjoying this activity). I used to take my kids tubing in the Blue Ridge Mountains and boy did we love it.  It appeared as if the Pejibaye would be a great tubing river.  There is a neat little family-run restaurant near the river where you can catch your own Tilapia and they will cook them for you (Que Rica!).  And this place has the most sugar cane that I believe I have seen anywhere in Costa Rica.  The hills are blanketed with sugar cane fields that in some areas have big sections carved out as if some great giant came along with his scythe and cut it down.

I reiterate my recommendation of Turrialba as one of the “off the beaten path” and truly special places of Costa Rica.  You will not have to worry too much about tourist crowds around this place.  The natural beauty of the place is really something to behold.  Don’t miss it!

Pura Vida!

Costa Rica Oceans Possess 3.5% of Planet's Biodiversity

You often hear about Costa Rica's biodiversity as it relates to land animals, plants and trees, but an article today in La Nacion (see link below to article in Spanish) brought to light the incredible diversity underneath the tranquil waters of its Pacific and Caribbean coasts.  According to the article, while Costa Rica's oceans only encompass 0.16% of the planet's oceans, the level of biodiversity lurking beneath the waves is another story.  Costa Rica's oceans possess 6,778 different identified marine species, the equivalent of 3.5% of the total diversity of the planet.  This astounding fact has come to light via a new book that inventories the marine species of the country and confirms that Costa Rica is indeed a "hotspot" of global biodiversity.  For example, Costa Rica has 1,300 species of mullusks (the equivalent of 22% of all known species) and 1,000 species of fish (17% of total).  There are 34 different species of marine mammals that frolick in its waters.  As for a comparison of the Pacific versus the Caribbean, there are 4,754 different marine species on the Pacific side, which encompasses a coastline of 1,254 kilometers. On the Caribbean there are 2,321 different species, but only 212 kilometers of coast.  Therefore, for its small size, the Caribbean, while containing less species overall, is superior in diversity.  For example, in the Pacific there are 4 different species for each square kilometer, while in the Caribbean there are 9 per square kilometer.  288 different species can be found on both coasts.  This new catalogue of species was published in June and is available at Amazon.com.  The authors are Ingo Wehrtman and Jorge Cortez.

Link to La Nacion article: http://www.nacion.com/ln_ee/2008/marzo/25/aldea1470867.html

Internet at the Top of Chirripo?

An interesting article appeared in La Nacion today (see link below in Spanish).  Now those fortunate and hardy enough to make the hike to the base camp (known as Base Crestones or albergue Crestones) will be able to connect with family and friends via the internet.  This is pretty amazing considering that the altitude is 3,400 meters (the summit of Chirripo is 3,821, the highest point in Costa Rica).  The power generated at the base camp is completely from renewable sources of wind, solar, and water.

I made the hike to the summit of Chirripo last year with my daughter (See ealier Chirripo Post), and it as an unforgettable experience.  The hike to the base camp is about 8 hours, with the hike the next day to Chirripo being another 5 hours.  Having internet available will allow hikers to send back news and photos of their experience to friends and family. If you have not been to Chirripo, and you have a pretty good endurance for long and difficult hikes, make Chirippo a part of your next Costa Rica experience.  The pain is worth it!!

Link: Agua, viento y sol hacen posible Internet en el cerro Chirripó - EL PAÍS - nacion.com.

Tensions Ease in Colombian-Ecuadorian Conflict

If you have been following the news in my part of the world you should know that Colombian military recently crossed the border into Ecuador in order to attack a company of the FARC.  Eradicating the FARC (Fuerzas Armadas Revolucionarios de Colombia) has been and continues to be one of President Uribe's top priorities.  He took advantage of intelligence that indicated that the second in command of the FARC, Raul Reyes, was in this area.  In the attack Reyes and some 20 or so FARC guerrillas were killed.  Ecuador regarded this as an attack on its sovereignty and began amassing military forces along its border with Colombia.  Not to miss out on the party, Hugo Chavez (a staunch opponent of Uribe) did the same along the Venezuelen border (although this whole affair had absolutely nothing to do with Venezuela).  Both Ecuador and Venezuela broke diplomatic relations with Colombia.  Later, even Chavez crony Daniel Ortega (current Sandinista President of Nicaragua) also broke relations with Colombia.  Well everyone gathered recently in Dominica and it appears that the situation has been resolved for now.  Even though there were some heated words traded by President Uribe (Colombia) and Correa (Ecuador) in which Uribe accused Correa of being in bed with the FARC and Correa responded that this was a lie.  However, there is clear evidence that both Ecuador and Venzuela have supported the FARC in various ways. 

As for me, I defend the right of Colombia to protect its people from this terrorist group that has killed and kidnapped for decades.  Let's look at it this way, if the U.S. had intelligence that Osama Bin Laden was just across the border in Mexico do you think the U.S. government would waste a second going through diplomatic channels with Mexico before taking advantage of the opportunity to get rid of this menace once and for all?  I don't think so.  This situation is NO DIFFERENT.  In fact, the FARC has killed many more Colombian citizens than Bin Laden has American.  I am a supporter of President Uribe.  His country is one of the richest in the world in terms of natural resources, but the activities of the FARC and the Narcos (drug trafficers) that they support and protect have impeded the country's progress for far too long.  I recently visited Medellin and it is a beautiful place and the efforts of Uribe have made it more safe to travel there.  I also applaud the attitude of Uribe reflected in the following comment made during the summit in Dominica (translated into English)....

I hope the tone of today, with the exception of the tone of President Correa (Ecuador) and my own at the beginning, will endure. On my part, I am going to try to maintain this for the diginity of the people that I represent.

It is refreshing (and rare) to hear a politician admit when he is wrong.  I believe the Colombian people should be proud of the way their President represented them in this situation.

New Volcano Discovered in Costa Rica

As if Costa Rica weren't already exotic enough, now scientists have confirmed the existence of a new volcano, known as Vulcán Porvenir.  There were hints of its exitence as early as 2005 when infrared photography from Nasa indicated the presence of an enormous crater at the peak of Cerro Porvenir.  The location is in dense cloud forest in the Parque Nacional del Agua Juan Castro Blanco located in San Carlos between the cities of Zarcero and Cuidad Quesada. The altitude of this new volcano (not really "new" since it has been there, hidden to human eyes, for about 2 million years) is 2,300 meters (7,360 feet).  This makes it considerably higher than Arenal (at 1,640 meters), but smaller than Poas (at 2,700 meters).  The crater is massive at 200 meters in diameter and 60 meters in depth (some 8 times larger than the crater of Turrialba).  The volcano is located in an area very inaccessible and normally covered in dense clouds.  Scientist endured an 8 hour hike to the summit before making a dangerous descent into the crater to gather rock samples to determine its age.  The volcano is located between the two very active faults known as the Congo and the Porvenir faults.  Scientists confirmed that while vegetation indicated that an eruption has not occurred for 100s of years, there was clear evidence of past eruptions of considerable magnitude.  Scientists do not believe that there is any imminent danger from this volcano.

Link to article in La Nacion (in Spanish): http://www.nacion.com/ln_ee/2008/marzo/08/aldea1454085.html

Costa Rica Ranks High in Latin America

Costa Rica was recently ranked in second place among countries in Latin America and the Caribbean for tourism competitiveness. Only Barbados ranked higher.  The rankings were according to a study conducted by Foro Económico Mundial.  The study evaluated 130 nations around the world.  Costa Rica ranked 44 overall, while Switzerland ranked first.  The rankings were across 3 basic categories: Regulatory, Business Environment and Infrastructure, Human and Natural Resources. Costa Rica ranked 48th, 56th and 24th, respectively, in these categories.  Ranking behind Costa Rica were such Latin American countries as Puero Rico (46th), Brasil (49th), Panama (50th), Chile (51st), Mexico (55th) and Jamaica (57th) among others.  One factor cited by the study as weak was security, as Costa Rica has recently experienced a surge in violent crime.  Also of concern were the country's roads, which, though the current Arias administration is taking great measures to repair in many areas, still have much room for improvement.  It is of note that Costa Rica's tourism is on the increase since in 2007 there were 1.9 million tourist arrivals, 175,000 more than in the previous year (a 10% increase).  The Foro Económico Mundial is an independent organization founded in 1971 and based in Geneva.  Below is a link to the article that recently appeared in La Nación (article in Spanish) citing the study.

Link: País segundo en competitividad turística en América Latina - ECONOMÍA - nacion.com.

Welcome to My New and Improved Blog

After reading up on blogging I quickly realized how little I knew about the subject.  Wow there is a lot to know about something that seems so simple......writing and posting to the web.  Anyway, not to pooh pooh my Blogger.com experience, but I must announce (as if it weren't obvious) that I have moved my blog to Typepad because it seems to offer more robust features and my dream is to grow up to be a real blogger.  I thought I needed a more powerful program...so sue me!  The blogs below all have the same posting date.  That is not because I all of a sudden became divinely inspired to write 20 new blogs in one day.....but because I republished all the blogs from my previous blogger.com blog.  I decided not to republish the time sensitive ones so as not to offend any readers that are particularly irritable. 

I hope you enjoy my new blog....and as always.....

Pura Vida

P.S. Some of the older blogs after republishing are a little (or maybe a lot for some of you, like me) hard to read...therefore, I am adding a link here back to the old blog so that readers can go back and read those old articles there if preferred.....

Old Blog Link: http://costaricaexpert.blogspot.com/

Where is Costa Rica?

I was working as a mergers and acquisitions consultant for my own firm and on a prospecting trip to Greensboro, North Carolina. I stopped to see an attorney who I had a hunch might have a deal for me. She told me about a guy in Costa Rica who owned a university. My first reaction was, where the hell is Costa Rica? She informed me that it was in Central America and so my second reaction was, isn't it dangerous down there? She assured me that it was safe and I asked for the contact information for this gentleman. The next thing I know I am on a plane to this mysterious place. I had never traveled to Latin America and knew virtually no Spanish whatsoever. However, being a pretty good salesman I landed the deal and after two years of very intense work, sold the university to an American company then known as Sylvan. Little did I know that that fateful meeting in Greensboro, North Carolina would change the course of my life forever!

Being by nature a curious person, I was immediately overwhelmed by Costa Rica. Driving through San Jose that fateful day of my first Costa Rica experience I was taken by the beauty of the mountains that surround the city. The smells, the people who seem to be everywhere, the architecture, which was so different from what I was use to, and, of course, the beautiful ladies, oh my God, the beautiful ladies........All of these things drew me in and ultimately I became another Costa Rica addict.

If you are intrigued by the idea of traveling to Costa Rica, I will give you my top ten reasons why you should go ahead and get on the plane and experience it for yourself. Don't get me wrong, it is probably not for everyone. If you prefer the whitewashed streets and two car garages and manicured lawns and sidewalks and streets that are empty because all the people are inside watching their large screen home entertainment centers. If you prefer a society that is more into living to work rather than working to live, then you might not like Costa Rica that much. Yes it is very different down here. A different pace of life. A different outlook. Different values. Different language. Different food. Different everything. So if you want to be different, here are ten good reason to come to Costa Rica, in random order:

• Something to do all the time....most of it outdoors.
• A topography that is as varied as the U.S., but in a space the size of West Virginia.
• As much biological diversity as the entire continent of Africa in a country, yes, the size of West Virginia.
• A place where you can find almost perfect weather somewhere.
• Beaches that are uncrowded and waves of all sizes.
• People who are as warm and friendly as you will find anywhere.
• A culture that is rich and inviting, with good food, great music and dance and a live and let live spirit.
• The most beautiful women on the planet (didn't I already mention that?)
• A place where you can live on a portion of what you live on in the states and like a king!
• A place where you can take a Sunday drive into the country and understand why this is The Last Country the Gods Made!

Intrigued? This blog is dedicated to exposing my experiences, thoughts, knowledge and probably a little bullshit about the country I have come to know and love, Costa Rica. I hope you enjoy it. By the way, if you are interested in traveling to Costa Rica, check out my travel site, Package Costa Rica.