Costa Rica: Expectations for Commercial Sector in 2016

Projections for sectors such as retail, real estate and franchising anticipate a better year for entrepreneurs, provided that new taxes are not approved.

Tuesday, January 26, 2016

The moderate expectations of entrepreneurs in Costa Rica in recent years took a positive spin at the beginning of 2016. However, the semblance of confidence is fragile, depending on the response of the government, particularly on fiscal issues, said Francisco Llobet, President of the Chamber of Commerce of Costa Rica to Elfinancierocr.com , when referring to the creation of new taxes.

El Financiero reports that "... in the coming months the arrival is expected of at least of 39 transnational corporations, the opening of 40 stores and fast food and "casual" restaurants and 8 new cafes. Also, 7 convenience stores will open in July, as well as more than 12 fashion stores, approximately 25 appliance stores and the automotive field will see the opening of 3 branches, a distribution center for parts and accessories as well as a workshop specialising in repair of minor damage. "

"In real estate, it is anticipated that six office centers will be ready this year, eight hotels will open their doors and 7 large commercial projects will come to life, while 3 projects for industrial parks and 6 construction projects where businesses are expected to be occupied for their own employees will be developed. Meanwhile, national franchises grew by 10% this year, while international ones by 5%. Last year the growth rate was 3%. The investment data for this year, was obtained in consultation with more than 25 companies, institutions and experts in the Costa Rican retail sector. "

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