Many of you have started feeling the cold rolling in and have begun dreaming of a warm tropical place. To many that place is Costa Rica. I was raised here in this beautiful country and have a different idea of what December brings. To me, the weather is the best at this time of year with tropical breezes and bright blue skies. Once the breezes start it makes me think of Christmas, a time to be with our families baking cookies and boiling tamales.
But to start the month off we celebrate a very special holiday, the abolition of the Costa Rican army. December 1st was declared a national holiday in 2021 but it was in 1949 that the president actually abolished the army and turned the army headquarters over to the National Museum. Having eliminated the army has allowed the country to focus on organizing the government and being a strong democracy, providing funds to improve the infrastructure, education and social benefits. Read more about the abolition of the army here.
This year December has brought many more gifts to Costa Rica thanks to our current president. It is the first time in years that the price of electricity, propane and gasoline are being reduced during this month. Usually due to inflation the cost-of-living increases at this time of year but this is changing and there is a decrease in prices.
Another great gift is that Costa Rica’s unemployment rate is being lowered according to tradingeconomics.com. The unemployment rate is the lowest it has been in 5 years at 8.10%. This was for the third quarter of 2023 and it is well known that during this period the economy is struggling due to low season so I can only be enthusiastic about what will come for the final quarter of the year.
There are various indicators such as a recent statement from the IMF (International Monetary Fund), an update from country.eiu.com stating the economy is growing, and the Central America Group that are showing Costa Rica as growing economically and becoming a more stable country to invest in. The government is working hard to strengthen the CCSS and provide better service to the population. There are plans for new hospitals and many new clinics that will help provide better medical attention.
The housing industry is growing due to Costa Rica being an attractive tourist attraction after being declared the travel destination of the year for 2024 by Travel & Leisure. The year-round mild climate, a friendly culture known as Pura Vida and stable economy have made this a hot spot for many seeking peace and quiet. So do not hesitate to reach out to us here at JB Real Estate where we can answer any questions about buying homes in Costa Rica and find your dream home.