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Hello, I am looking for someone to write an article on Emerging Market Economy in Costa Rica. It needs to be at least 2500 words. Costa Rica .is rich in plants and animals an aspect that has resulted to the improved tourism sector that has generated a significant amount of foreign exchange. One of the key national parks that have significantly contributed to the Costa Rica economy is Corcovado National Park (Netto and Trigo, 2015). According to the World Bank report of 2013, the gross domestic product per capita of Costa Rica stood at US$12,874 PPP. The country growth was negatively affected by the global recession that was experienced in 2008. One of the notable microeconomic strategies that the government of Costa Rica adopted in 2006 was the introduction of a new currency exchange system. Just like in Chile, the new currency system allowed the value of the CRC to float between 2 bands. This paper aims at discussing the various economic concepts in Costa Rica, being one of the emerging market economies in the world.
Before the recent global recession, Costa Rica had stable economic growth. The country economic growth has not only been attained as the result of tourism, but also as the result of the traditional agricultural exports that include bananas, sugar, and coffee. In addition, the specialized and industrial goods have recently expanded the country’s export trade resulting to the increased level of investment and job opportunities. The tourism industry is one of the major sources of foreign exchange due to Costa Rica attractive biodiversity (Political structures and sustainable development, 1996). As a major destination of ecotourism, Costa Rica is the most visited country in the region of Central America. The $1.92-billion-a-year tourism industry has positively impacted on the Costa Rica other industries as well as the economy. As a country that is known for its real ecotourism, Costa Rica gets 46% of its tourists from Canada and the US, 16% from the European Union (Honey, 1999). According to the Travel and Tourism Competitiveness Index report of 2008, the country reached the 44th position globally in the tourism industry. By considering the natural resource criteria, Costa Rica is in 7th position globally (Jennifer and Thea, 2008). . .