Costa Rica Attracts Record Foreign Investment in Manufacturing and Services
Costa Rica received US$2.74 billion in foreign direct investment during the first half of 2026, representing a 23.4 percent increase from the same period in 2025, according to data released by the state export agency Procomer. Free trade zones captured the largest share at US$1.74 billion with a 35 percent surge, while the United States accounted for nearly 69 percent of total inflows. Tourism investments declined sharply by 27 percent, though manufacturing and medical device sectors showed robust gains.
Costa Rica's investment surge reflects a strategic pivot toward manufacturing and services sectors. Free-zone investments, which benefit from tax incentives designed to attract export-oriented operations, accounted for roughly 64 percent of total inflows and experienced the sharpest growth rate. Investment under standard tax regulations also accelerated significantly, suggesting diversification beyond the traditional free-zone model.
The geographic concentration of investment sources presents both opportunity and risk. With nearly seven of every ten dollars originating from the United States, Costa Rica's foreign investment framework remains heavily dependent on American corporate decisions, particularly from medical device and electronics manufacturers who have established deep operational roots in the country's zones over the past two decades.
Increased manufacturing and services investment could expand formal employment opportunities for Costa Rica's five million residents, particularly in specialized sectors like medical devices. However, the sharp decline in tourism investment may concern communities dependent on that sector's job creation and government revenues. The preliminary nature of these figures and the exclusion of a major beverage industry transaction suggest the actual investment picture may shift when final data emerges, potentially affecting policy assessments and employment forecasts.