By the A.M. Costa Rica staff
In an unusual showing of cooperation lawmakers have approved unanimously two loans
that will finance geothermal projects at the Rincón de la Vieja volcano
in northern Costa Rica. The vote was 49-0 on first reading.
The money comes from the Japanese Agency for International Cooperation and the
European Investment Bank. The projects are Pailas II, Borinquen I y Borinquen
II.
The Japanese are lending $644 million, and the European source is providing $70
million. The Instituto Costarricense de Electricidad is installing the thermal
generators. The Japanese loan is for 40 years with a 10-year grace period when the country
does not have to make payments. The European loan is for 30 years with a
five-year grace period. Such periods of non-payment are typical in government
loans. Both have favorable interest rates, lawmakers said.
These geothermal projects will reduce the need for Costa Rica to burn expensive petroleum during the dry season, lawmakers noted.
A good article on retiring in Latin America.
Retirees
eye lower cost of living in Latin America
Michael H. Mills
- Associate Broker
RE/MAX Prestige Ocean Properties
Panama Office: 011-506-2672-0707 Matapalo Office:
011-506-2697-0101
Cell
011-506-8867-6929
Toll Free USA and Canada
- 1-877-293-1456
Email: michael@costarica-realestate.com
Web Sites: http://www.prestige-ocean-properties.com
Check
out our newest video on Costa Rica click here
Great news considering our electric bills have skyrocketed, going up 40% in some areas over the last four years. For the first time I am see clients requesting energy options like wind and solar in single family home construction and the smart builders are prepared with a selection of products.
See the story here - http://www.costaricanewssite.com/560-million-loan-japan-renewable-energy-development/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+CostaRicaNewsSite+%28Costa+Rica+News+Site%29
Best regards,
Michael H. Mills
- Associate Broker
RE/MAX Prestige Ocean Properties
Cell 011-506-8867-6929
Toll Free USA and Canada
- 1-877-293-1456
Email: michael@costarica-realestate.com
Web Sites: http://www.prestige-ocean-properties.com
http://www.prestigecostaricaproperties.com
Great video on the "Housing recovery in the US. It all affects us here in Costa Rica eventually.
http://video.foxbusiness.com/v/2632475545001/making-sense-of-the-housing-recovery
Michael H. Mills
- Associate Broker
RE/MAX Prestige Ocean Properties
Panama Office: 011-506-2672-0707 Matapalo Office: 011-506-2697-0101
Cell 011-506-8867-6929
FAX 011-506-2672-1327
Toll Free USA and Canada
- 1-877-293-1456
Email: michael@costarica-realestate.com
Web Sites: http://www.prestige-ocean-properties.com
http://www.prestigecostaricaproperties.com
Authorities to vacation rental property owners: You must pay sales taxes
Posted:
Wednesday, August 14, 2013 - By Lindsay Fendt
Costa Rican Tourism Board and Finance Ministry to enforce tax and licensing laws.
hotel photo
Hotels are losing business to vacation rental properties, many of which don't secure proper permits or pay taxes. Courtesy of Barcelo Playa Langosta
With a new clarification on the books, the Costa Rican Tourism Board (ICT) and the Finance Ministry have redoubled efforts to enforce tax and licensing requirements for vacation rental properties throughout the country.
“We are not trying to discourage renters,” said Herman Navarro, a tourism manager with the ICT. “We are trying to level the playing field.”
Vacation rentals emerged on the Costa Rica tourism scene after the market crash in 2008. A number of people who owned vacation homes stopped coming and either began renting out the houses or sold them off to rental companies. This, combined with a drop in the number of tourists traveling to Costa Rica, has led to significantly lower hotel occupancy rates.
Hotel owners say it is not the competition for customers that causes problems, but a discrepancy in regulations and taxes. In addition to fees for business licenses and health inspections, hotels pay a 13 percent sales tax, higher industrial utility rates and social security for their employees. Vacation rentals are rarely asked to pay these fees, meaning they can undercut the prices of most hotels.
“A company that owns 20 or 30 of these places is the same as owning a huge hotel, but they don’t pay fees like a huge hotel,” said Boris Marchegiani, an owner of Gaia Hotel and Resort in Manuel Antonio and president of the tourism chamber in the Quepos and Manuel Antonio area, on the central Pacific coast. “They are just getting pure income that isn’t reproducing itself in the local economy.”
According to Navarro, vacation homes have always been subject to the same rules as hotels, but they were rarely enforced. Last week President Laura Chinchilla signed a decree clarifying this law, and it will be published in the official government newspaper La Gaceta in the next few weeks.
To begin enforcing the law, the ICT just concluded a year-long investigation in which it identified hundreds of vacation rentals through posted Internet ads and information from municipal governments. The ICT has now passed this information to the Finance Ministry.
Of some of the tourist hot spots investigated, the ICT found 23 rentals in Jacó (central Pacific), 36 in Manuel Antonio and 38 on the Caribbean coast.
“There are plenty of tourists around, but they're not at hotels and restaurants. They're at the supermarket,” said Mike Witte, owner of Roca Verde Hotel in Dominical.
Although the ICT has primarily targeted rental companies in this sweep, the law applies to any lodgings rented for less than 15 days. This includes renting a room or guesthouse in the home where you reside.
“It doesn’t matter if you rent it out five times a year or one time,” Navarro said. “These laws apply to anyone renting to tourists.”
Though the Finance Ministry has not yet released results, Navarro said a significant percentage of the rentals investigated have not paid the required taxes. This not only leads to unfair competition against hotels, but also less money in municipality coffers.
“I don’t have a problem with the rentals as long as they are carrying their own load,” Witte said, “but they can’t expect us to keep the roads paved when they are the ones earning all of the money.”
Vacation rentals do contribute less to an area’s economy. According to data from the Central Bank and the ICT, every dollar spent at a hotel is spent again three to five times within Costa Rica. For vacation rentals, a dollar is only re-spent 1-1.3 times.
This is partly because most vacation homeowners don’t invest in tourism infrastructure or service staff. In Dominical, for instance, hotels help pay for lifeguards to watch the beach. Though vacation rental owners don’t pay for things like that, their guests still reap the benefits.
Even if vacation rental owners do end up paying taxes and raising prices, hotels may still face stiff competition and low occupancy rates. But hotel owners say they can handle that.
“It will never go back to how it was, and it shouldn’t,” Marchegiani said. “We don’t mind the competition as long as we are all on an even playing field.”
Michael H. Mills
- Associate Broker
RE/MAX Prestige Ocean Properties
Panama Office: 011-506-2672-0707 Matapalo Office: 011-506-2697-0101
Cell 011-506-8867-6929
FAX 011-506-2672-1327
Toll Free USA and Canada
- 1-877-293-1456
Skype: papagayohermosa
Email: michael@costarica-realestate.com
Web Sites: http://www.prestige-ocean-properties.com
http://www.prestigecostaricaproperties.com
Mike Periu, a Miami-based financial expert whose work has appeared in CNN and Yahoo!, recently published a report on the five most expensive places to live in Latin America. Costa Rica occupied fourth place, which closely follows Uruguay, Brazil and Venezuela.
It is important to note that Uruguay has a high economic development index and Brazil is the “B” of the BRICS nations slated to become the next world economic powers, the other countries being Russia, India, China, and South Africa. Venezuela is a top oil producer. So how did Costa Rica, the Switzerland of the Americas, end up being more expensive than Switzerland herself?
Mr. Periu wrote the article with a specific audience in mind: People who are contemplating moving to a Latin American country. He urges people to think about security, stability, employment opportunities, but -above all- the cost of living. Mr. Periu chose the Big Mac Index used by The Economist over other indicators such as the Consumer Price index to make his point. The Big Mac Index, which is loosely based on the purchasing power parity (PPP) concept, is a fun way to compare how currency exchange rates fare across nations.
The Big Mac Index is fun and populist, but in many cases it should be taken with a grain of salt -or with a packet of ketchup. In fact, The Economist has commented on its own, unique index:
“Burgernomics was never intended as a precise gauge of currency misalignment, merely a tool to make exchange-rate theory more digestible.
PPP signals where exchange rates should be heading in the long run, as a country like China gets richer, but it says little about today’s equilibrium rate. The relationship between prices and GDP per person may be a better guide to the current fair value of a currency.”
So The Economist admits that pricing a Big Mac around the world should not be equated to economic theory by Adam Smith, John Maynard Keynes, Shinzo Abe, or Ben Bernanke. Mr. Periu does not consider per capita gross domestic product (GDP), nor does he consider ongoing monetary policy by the United States Treasury or the Central Bank of Costa Rica. Mr. Periu wrote his oft-cited article back in March of 2013, and he appears to have used the “gourmet” version of the Big Mac Index at the time. If we check The Economist’s interactive currency-comparison tool (highly recommended), we see that Colombia has beat us at the expensive game, at least in late July 2013, and that a Big Mac in the U.S. costs more than in Costa Rica.
In the past, The Costa Rica Star has commented on the apparent pricing disparity of McDonald’s products between, say, Cleveland and San Jose. It is easy to come away with the impression that Costa Rica is the most expensive country in the world if a restaurant in Cleveland is running a “Two for Tuesday” special and Big Macs cost just a buck. Most of the time, however, Americans are paying more for their beloved Big Macs than Ticos do.
Back in February, Lisa Smith of iExpats explained with regard to the Big Mac Index:
“The UK, along with the United States, Chile, New Zealand and Costa Rica are rated as being in the -/+ 10% for their currencies, which puts them at the centre of the survey.”
The fact that many tourists and expats are victims of sticker shock as soon as they land at the Juan Santamaria or Daniel Oduber Quiros airports does not make Costa Rica as expensive as Norway -a top oil-producing nation. There is no question that San Jose is the most expensive city in Central America, and that Managua is the cheapest; this would imply that tourists get more bang for their buck in Nicaragua, a country where tourism is not even a fraction of what her southern neighbor constantly realizes. Oh, and to add fuel to the fire: Real estate in San Jose is the most expensive in Latin America, but that does not seem to stop buyers.
A better PPP index that also uses pop culture to make it more accessible is the UBS Wealth Management annual survey of the world’s most expensive cities, which takes into consideration a basket of 122 goods and services in addition to the currency exchange. On top of the Big Mac, UBS adds buying an iPhone, purchasing groceries, paying for rent and utilities, and other factors. No cities in Costa Rica make UBS’ list, but it is fun to follow part of its rationale:
“In Tokyo it takes nine minutes of work to earn enough to buy a Big Mac, while in Nairobi it takes 84 minutes”
How long does it take for a Tico worker to buy a Big Mac in Costa Rica. Let’s assume the salary of a Fuerza Publica police officer in the 80th percentile, which means she earns about $800 per month working between 40 and 48 hours a week. She makes a little less than $4.20 per hour, so it would take her about 50 minutes of work to buy a Big Mac -or about 15 minutes of her shift to buy a delicious cheese empanada. Not quite Tokyo, but definitely not Nairobi.
- See more at: http://news.co.cr/is-costa-rica-really-that-expensive/23633/#sthash.4Mdoox5X.dpuf
Andaz Papagayo Ronald ZurcherOne of Latin America’s most exciting new hotel openings will be unveiled this December on the dramatic Papagayo Peninsula on the northern Pacific coast of Costa Rica. Andaz Papagayo will represent the debut of the Andaz brand in Latin America.
A truly original and inventive resort designed by iconic Costa Rican architect Ronald Zurcher, Andaz Papagayo will showcase groundbreaking ‘naturalist’ design that will change the face of modern Costa Rican architecture and go back to the country’s ancient roots. Zurcher’s design taps into Mother Nature for its inspiration, turning its back on the traditional architectural thinking of the last three decades, which focused on a more colonial style. Zurcher’s vision will unite the Andaz brand’s creative bohemian focus with a refined, yet comfortable atmosphere and signature personalized service.
Located adjacent to Marina Papagayo and overlooking the Bay of Culebra on a 28-acre parcel of oceanfront, Andaz Papagayo will feature 153 guestrooms including 21 luxury suites – four of which have plunge pools – and one vast Presidential Suite with a private, full-size pool. All rooms and suites will have spectacular views of the ocean and will balance modern design with touches of character that blend into the natural surroundings such as woven textiles, solid woods and carved local artifacts. Each will further have balconies and complimentary health-minded minibars and bath products created by local artisans.
There will be three themed restaurants and a Marina Bar offering farm-to-table ingredients, locally inspired cuisine and a Latin-inspired cocktail menu. Chefs will infuse dishes with the finest regional ingredients, including Costa Rica’s legendary coffee and exotic fruits.
For those with pure relaxation in mind, there will be an 11,000 square-foot Sanctuary Spa featuring nine treatment rooms and an array of therapeutic treatments, along with a state-of-the-art gym. There will also be two swimming pools and a private beach.
Architect Ronald Zurcher is known for his integration of culture, natural history and the flow of the landscape in his design, which fits the Andaz mission to stimulate the creative senses of guests in refreshing ways. Zucher’s vision for Andaz Papagayo was to integrate organic forms and shapes of flora and fauna of the peninsula which he achieved by creating an imaginary gathering of animals using the shapes of cocoons and shells. As Zurcher says, “Costa Rica is known for its peace-loving attitude and I felt tapping into Mother Nature’s energy was the best way to connect the resort with the overall vibe of the country.”
The free-flowing environment Zurcher has created at Andaz Papagayo is in keeping with the Costa Rican ‘Pura Vida’ philosophy, which the hotel abides to. Meaning ‘Pure Life’ Andaz Papgayo reflects the authentic flavour of Costa Rica and compliments the brand’s own philosophy with no desks at check-in, no processes, no formality and thus, no stress. Guests are made to feel at home right away as hosts will welcome them in the open-air lobby and handle check-in seamlessly.
There will also be 8,200 sq ft of flexible meeting space and open air social spaces designed for anything from brainstorming sessions to wedding receptions which further reflects the social nature of the brand.
Península Papagayo offers a multitude of activities both on land and at sea including an 18-hole Arnold Palmer championship golf course, world record class fishing, surfing and eco-adventures like zip-lining and whitewater rafting. Local cultural sites of interest include the Palo Verde National Park, Monteverde Cloud Forest and Arenal Volcano. The Marina Papagayo offers 180 slips, impressive state-of-the-art facilities, and a full menu of boating services catered primarily to the yachting community.
Andaz Papagayo will be located approximately 20 minutes from Liberia International Airport (LIR), which offers daily services from several major U.S. gateway cities, frequent regional service from San Jose, the capital city, and seasonal service from other main international destinations. San Jose’s Juan Santamaria International Airport (SJO) has regular connections to several gateway cities in Europe and Latin America.
Personal and uncomplicated, Andaz is a new hotel experience that is a fresh, stylish blend of engaging hospitality delivered in vibrant settings, created with simplicity and locality in mind. Andaz Papagayo will join nine Andaz hotels that are currently open around the world, in destinations such as New York, California and Georgia in the US, London and Amsterdam in Europe and Shanghai in China.
Article by HotelDesigns.co.uk
-
See more at: http://news.co.cr/hotel-andaz-papagayo-by-iconic-costa-rican-architect-ronald-zurcher/23855/#sthash.260NfEb3.dpuf
Four Johnny Rockets restaurants will open in San José, Heredia and Alajuela. Courtesy of Johnny Rockets
California-based burger chain Johnny Rockets will open its first restaurant in Costa Rica – one of two in the region – in August.
The new eatery will be located at Mall Lincoln Plaza food court in Moravia, north of the capital.
Desarrollos Gastronómicos Internacionales, owner of the local franchise, expects to add new restaurants in Escazú, southwest of San José, and in the provinces of Heredia and Alajuela by next year.
The Costa Rica location will open simultaneously with one in Tegucigalpa, Honduras, as the company also owns the rights to open restaurants in that country, as well as in Nicaragua, Guatemala and El Salvador.
Each restaurant will create 30-40 direct jobs and requires an investment of some ₡250 million ($500,000). Most of the materials will be imported from California “to ensure that customers have the same experience as walking into a restaurant in the United States,” Antonio Burgos, a spokesman for the company, told the weekly El Financiero.
Johnny Rockets is a themed restaurant brand depicting 1950s and '60s U.S. burger joints. There are 300 locations in 30 states in the U.S. and in other 16 countries.
It has been more than five years since public officials from the National Tourism Board in Costa Rica (known by the initials ICT in Spanish) traveled to Playas del Coco in Guanacaste to give their approval for an ambitious development project that will bring a massive luxury marina with enough dock space to accommodate almost 300 yachts and host of administrative and business facilities.
The Marina de Playas del Coco project, which is also known as Coco Marina in English, has been on the drawing board for nearly a decade. When the ICT public officials left the Punta Centinela area, the investors and developers of the most ambitious marina in Costa Rica hoped that bureaucracy would not get in their way, and it didn’t: The ICT gave a green light to the project in just a couple of months.
That was, however, in 2008. While the officials of the ICT’s Interoffice Commission on Tourist Docks and Marinas evaluated the Marina de Playas del Coco project, the housing market in the United States was coming to the end of its inflationary bubble period and beginning its painful burst. Months after the ICT told the developers of Coco Marina to go ahead with their project, the subprime mortgage meltdown and the credit crunch almost collapsed Wall Street. The Great Recession set upon the U.S. and the European Debt Crisis loomed.
Costa Rica, like other countries in Latin America, fared better than expected during the global financial crisis, but the key tourism sector took a major hit since the flow of dollars was fueled by the misguided economic optimism that the housing bubble in the U.S. would never end. As a result, projects such as Coco Marina were shelved until conditions improved. That time seems to be now.
Sources familiar with the Marina de Playas del Coco project and Guanacaste realtors who work in the area have recently noticed some activity, and they seem to think that construction will begin in earnest later this year. The Coco Marina will be a boon to tourism in the area; Playas del Coco is already a magnet for visitors, and the marina is expected to generate business and employment both directly and indirectly.
The Municipality of Carrillo will be in charge of issuing business permits and contracts while the El Coco Marina Development Association (ASODEMAC in Spanish) will be responsible for construction and adherence to environmentally-friendly policies and requirements.
Live in this private 2 bedroom condo while renting the other two bedroom unit to generate income. Grocery shopping, restaurants and the beach in Playa Hermosa are all within a 5 min walk. CIMA Hospital and Liberia Airport are 25 min away. Large fenced back yard with pool, patio on lower level and balcony and 2nd level. It would not be difficult to make this a 4 bedroom home. Granite counter tops in both kitchens and bathrooms. This will not last long so call me today!
•Two floors, 2 bed condo each level with
Kitchen / Dining room / Living room 2 bath each level, •Double carport
• A/C in every bedroom & living rooms
• 2 Covered Terraces, Fenced back yard, private, landscaped, Private pool
Lot size – 891.32 square meters
Each condo is over 1200 square feet.
Reduced to $250,000
Prestige Ocean Properties
Michael H. Mills - Associate Broker 8827-5418
michael@costarica-realestate.com
Toll Free USA and Canada - 18772931456
Format: ???
Duration: --:--
|
OCEAN
VIEW 4 BED VILLA REDUCED IN PRICE.
Casa
Feliz – Monte Paraiso  
This 7 year old 4 bedroom, 4
bath villa is located in the prestigious “Monte Paraiso Estates” overlooking
Playa Hermosa and the Gulf of Papagayo. Privacy guaranteed (with the
exception of monkeys and parrots) as there is a large “park” green area next
to the home. One bedroom currently being used as an office on the main floor
with 3 more bedrooms upstairs. Living Room, reading room, laundry room and
kitchen are on the ground floor. Granite counter tops in the kitchen with
plenty of cupboard space. Balconies and terraces with large patio doors on
all levels. Infiniti edge pool, bathroom with shower, bodega and large patio
on the lower level along with an outside wet bar. Central air conditioning,
generator and alarm system are all inclusive. Fully furnished with all
appliances and ready to move in.
3853
square feet of living area on a 10301 square ft. lot
To
view pictures and video click here - $690,000
Michael H. Mills
- Associate Broker
RE/MAX Prestige Ocean Properties
Toll Free USA and Canada
- 1-877-293-1456
Email: michael@costarica-realestate.com
|
As a commercial project, the Inter-Oceanic Canal in Nicaragua is economically unfeasible, in particular because the uncertainty over the return on investment to be made is so large. But for a country destined to be a world leader, as is China, for whom finance of $40 billion is no small thing, possession of a dominion over a waterway in the backyard of its greatest commercial competitor makes this investment a bargain.
President Obama conducted a routine visit to Central America in his second presidential term, and the most important thing he left behind was stories about the menus at the formal dinners. In contrast, Chinese President Xi Jinping left hundreds of millions of dollars in loans for projects, which are, of course, well tied to the convenience of Chinese companies.
Xi Jinping did not visit Nicaragua. However, it could become the most important country for China on the American continent, in this century and the next.
Nicaragua is, under its current institutional conditions, with a Sandinista government which rules with the factual and dubiously democratic style of leftist Latin American governments - often going above the heads of opposing minorities - the Central American country where it is possible to develop this brilliant geopolitical Chinese operation.
Clearly, franchising the Inter-oceanic Canal directly to the Chinese state would have been much resisted and even unfeasible in political terms, both inside and outside of Nicaragua. As we have seen, the government of President Ortega found no obstacle to giving ownership of this concession to a nearly non-existent company. However, given the style of Chinese developmental policy, it is highly unlikely that the company will not be dependent on a government that has a clear need to ensure mastery of global sea routes, not only in terms of trade but also of military strategy.
It is clear that the construction of the Inter-oceanic Canal - if realized - would revolutionize and boost the economy of Nicaragua, to the well deserved benefit of its inhabitants, but it could also convert the country - and region - into a focus for geopolitical tensions, with unpredictable consequences.
What is absolutely certain is that we should hurry up and learn Chinese ...
Yesterday I was asked if Jaquar Village in Hacienda Del Mar, in Playa Panama was in the same situation as all waiting for water developments in Ocotal, Playas Del Coco and Playa Hermosa, not being able to building condos because building pe...rmits are not being granted due to the water situation.
I am happy to announce we have our own wells, have water permits, building permits, we have the foundations in and are working toward the second floor of the Jaguar Village condos. All our developer lots also have water and water letters so any developer can start building IMMEDIATELY. Jaguar Village is fully funded, no presale nonsense so they can finance building. The 12 ocean view condos are all being built at once with a model unit ready in the next few months. Glass elevators, restaurants on site, Beach Club under construction, all infrastrucure complete, gym, Casa Club and 24-7 security in this luxury gated community. Reservations are being accepted, there are 10 left.
Michael H. Mills
- Associate Broker
RE/MAX Prestige Ocean Properties
Panama Office: 011-506-2672-0707 Matapalo Office: 011-506-2697-0101
Cell 011-506-8867-6929
FAX 011-506-2672-1327
Toll Free USA and Canada
- 1-877-293-1456
Skype: papagayohermosa
Email: michael@costarica-realestate.com
Web Sites: http://www.prestige-ocean-properties.com
http://www.prestigecostaricaproperties.com
Costa Rica News – Let’s all be honest here. Costa Rica and Laura Chinchilla just sold the soul of Costa Rica. The price tag was $1.5 Billion, but I guess we can add that to the running total which includes the national stadium.
Do not forget that this includes a $900 Million line of credit for an oil refinery on the Caribbean coast. Showing once again that the Costa Rica government is not really wanting to go “green” and be carbon neutral. It also shows once again they do not care about the Caribbean coast of Costa Rica.
During an official visit by Chinese President Xi Jinping, the two countries signed nine cooperation agreements totaling $1.5 billion that will provide resources for improving Costa Rican roads and public transit fleets, purchasing solar panels and the building of a new police school.
Costa Rica is the only Central American country that has diplomatic relations with China, the world’s second-largest economy, and has been rewarded with projects and visits by two sitting Chinese presidents since it first recognized the Asian giant over Taiwan in 2007.
The refinery, in Puerto Limon, is small and old and refines about 18,000 barrels of imported crude a day. The remodel could boost production to 65,000 barrels a day, with the Chinese sharing in the profits. Costa Rica sought help from China in updating the facility.
But the project is under debate as Costa Rican economists and politicians question the Chinese feasibility studies, and 
say the money would be better spent seeking alternative forms of energy.
Rene Castro, minister of environment and energy, said that the agreement only means having a line of credit available and that Costa Rica’s government still has asked state universities for analysis to determine whether the project is feasible.
The Chinese also ratified Costa Rica’s sanitary protocol to allow the export of pork to China, while the largest dairy business in the country, Dos Pinos, announced new exports of fresh and flavored milk.
Costa Rican President Laura Chinchilla said her country will make the visa process more flexible to increase the number of Chinese tourists and business vistors.
Foreign Minister Enrique Castillo said Costa Rica will speed up the process for Chinese who already have visas from other countries, such as the U.S. and European Union, and will add people in the Beijing and Shanghai consulates to process paperwork quicker.
China has more than 100 million tourists traveling worldwide, Castillo said, noting that if Costa Rica could get 500,000 of them, it would boost tourism visits by 25 percent. Currently Chinese tourism to Costa Rica is very small because of visa problems.
But the Costa Rica government is making sure these tourists are pushed to the Pacific Coast of Costa Rica. If there is an oil spill they are not worried as it will only hurt the a coast filled with people that the leaders of Costa Rica with their racism have deemed unimportant.
But I am sure this president as well as some of the former presidents will have a nice retirement villa waiting after this term in office. Bought and financed by China