The U.S. company American World Clinics reported that the project to be undertaken in Costa Rica includes a hospital, hotel and residences for retirees.
In partnership with a chain and a real estate developer in Costa Rica, the group American World Clinics (AWC) has announced that a resort will be developed in an area near the international airport and foresees that it will attract 10,000 foreign patients each year.
Panama, Belize and Nicaragua are competing with Costa Rica and Mexico in trying to attract retirees from the U.S. and Canada.
All of these countries are offering residency packages and tax exemptions at rates similar to those granted by Costa Rica. For example, in Nicaragua there is a law which provides advantages for retirees on items ranging from cars to building materials.
Although the country has all the potential for attracting foreign retired people to be residents, the government effort begun three years ago has not had any continuity.
"There has never been a public institution interested in following through on the effort," laments Massimo Manzi, director of Promed.
"The sectors interested in investing in projects to attract retirees argue that to do so, you need the support of organizations such as the Ministry of Finance, (to revive foreign incentives and tax benefits for importing materials) as well as the Ministry of Health, the Costa Rican Institute of Tourism and Ministry of Commerce, so as to promote the image of the country as a potential destination for that segment and attract more foreign investment to the aforementioned niche", reported Eleconomista.net review. However, there are currently no projects focused on attracting retirees.