As a result of the reduction of the permitted capacity for meetings and events to be held in Costa Rica, businessmen of the sector will have to adjust their expenses and contain costs in a better way.
In order to contain the advance of the pandemic, during the rest of the month of May, capacity reductions and restrictions to the circulation of vehicles will be applied, measures that will be applied throughout the national territory.
Through a press conference, the Costa Rican Government announced that as of May 13, sanitary measures will be applied, which will be based on the modification of some existing ones.
After foreign exchange revenues from tourism in Costa Rica fell from $4 billion to $1.343 billion between 2019 and 2020 due to the closure of borders and airports, it is projected that the sector will remain in the red during 2021.
March 2020, when most countries began to register Covid-19 cases, was the month in which revenues began to fall. Statistics from the Central Bank of Costa Rica (BCCR) show that in this context of pandemic, between April and October of last year, the Costa Rican tourism industry practically did not earn any foreign currency.
In order to mitigate the effects of the pandemic, local authorities decided that from Monday, May 3 through Sunday, May 9, all commercial establishments operating in the cantons of the Central Region and which are not classified as essential, must close to the public.
These establishments will be able to operate under the non-face-to-face modality by means of home delivery or self-service. The rest of the country will not be affected by closures, informed the Presidency of Costa Rica.
In the first week of April 2021, El Salvador, Nicaragua, Honduras, Dominican Republic and Guatemala were the countries in the region where the number of people visiting establishments identified as supermarkets was higher than the figures reported before the pandemic.
Over the course of the months and in the context of the reactivation of commercial activities, more Central American consumers have visited locations identified as supermarkets and pharmacies.
In order to reduce the effects of the pandemic that caused the outbreak of Covid-19, from April 27 to May 16, there will be restrictions on vehicle traffic from 9:00 p.m. to 5:00 a.m. the following day.
Given the speed of the increase in the number of infections and hospital occupancy, some of the most severe epidemiological data since the beginning of the pandemic, the health authorities made the decision to change the restriction schedule, according to an official statement.
Central America must be the driving force behind a globally accepted document that will be vital for the recovery of the global economy and tourism in particular.
The generation of a physical or digital document of global acceptance (like national passports) that certifies that the bearer has been vaccinated against Covid-19 will facilitate the movement of people that has been severely restricted as part of the measures adopted by governments, both locally and internationally, to contain the pandemic.
As a result of the economic crisis generated by the pandemic, it is estimated that four out of every five Central American companies were forced to increase their debts in order to sustain their operations.
According to the 2021 Regional Survey on economic reactivation prepared by the Federation of Chambers of Commerce of the Central American Isthmus (Fecamco), the resources obtained through indebtedness, served the companies to pay payroll, face rents and support operations.
Twelve months after Central America began a health and economic crisis triggered by the covid-19 outbreak, Guatemala was the fastest recovering economy and Panamanian economic activity is the slowest to return to pre-pandemic levels.
In March 2020, the first cases of covid-19 began to be detected in the countries of the region. The highly contagious disease, which at that time had already claimed the lives of thousands of people around the world, forced Central American governments to establish mobility restrictions.
During 2020, it is estimated that the average price of a ton of steel increased 19%, a rise that impacts the construction industry and is explained by the increase in logistics costs and the suspension of the extraction of the material due to the outbreak of covid-19.
Central American businessmen report that during last year, which was marked by the sanitary and economic crisis, the average price per ton of steel increased by $130, going from $670 to $800.
In the first quarter of 2020, just before the crisis generated by covid-19 began, there were 72,972 formal businesses registered in Costa Rica. In the second quarter the figure fell 6% and by September there was a slight recovery.
Data from the Costa Rican Social Security Fund indicate that between the first and second quarters of the year the number of registered companies fell from 72,972 to 68,946. At the end of the third quarter the figure recovered slightly, with 69,412 companies registered.
Analyzing the economic and financial situation of the company, implementing a resistance plan, identifying what products customers need and what opportunities can be exploited in this context, are some of the tips for businesses in the new and complex reality.
In response to the arrival of the covid-19 virus in the region, Central American economies have taken different measures, in scenarios ranging from severe mobility restrictions, as in Guatemala or Honduras, to others that are less strict but equally negative for economic activity, as in Costa Rica.
Allowing import, export and transit processes to be carried out efficiently is the recommendation of the region's businessmen to avoid product shortages in the regional market.
For the Federation of Chambers and Industrial Associations of Central America and the Dominican Republic (Fecaica), governments should continue to take the measures considered necessary so that the cases detected so far do not continue to multiply, or at least, the contagion curve can be minimized, taking actions such as activating and expanding emergency response mechanisms and informing the population about the risks and ways to protect themselves.
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