Essential News

-San Jose, Costa Rica also ranked third and fifth in two more categories.

-International ranking analyzes 12 industry sectors and was elaborated by Conway, Moody’s Analytics, Tractus and Oxford Economics.

San Jose, Costa Rica, November 23rd 2015. This morning the Costa Rican Investment Promotion Agency (CINDE) announced that San Jose was the breaking leader of four categories among Latin American sites in the “The World’s Most Competitive Cities 2015” ranking that analyzes the most competitive cities for investment around the globe.

Costa Rica’s capital led in Latin America categories like:

• Best hub for Life Sciences.

• Best hub for Electronics Manufacturing.

• Best hub for Business and Financial Services.

• Best hub for Information Technologies.

• Third best hub for Transportation and Logistics Services.

• Fifth best hub for Chemicals and Plastics.

The ranking analyzed the competitiveness of cities around the world to host companies of industries related to the sectors of: aerospace, automotive, business and financial services, chemicals and plastics, electronics manufacturing, energy, food and beverages, IT and communications, life sciences, enginery, metals, and transportation and logistics.

The report was elaborated by a prestigious group of firms specialized in the analysis of potential hubs for the establishment of multinational operations. This group includes: Conway, Moody’s Analytics, Tractus and Oxford Economics.

The methodology implemented by the consulting firms in this study took into account attractiveness and competitiveness to attract investment in urban areas with more than 500.000 people. The conclusions derived from the results of the applied surveys and the analysis of hard data.

The Minister of Foreign Trade, Alexander Mora, was pleased with this important news. “In four of the twelve evaluated sectors, San José ranks as the most attractive city for investment in Latin America; and in another two it stands out among the five preferred locations. This is not by chance nor improvisation. Companies that have chosen the country as their business hub frequently highlight the high quality of the Costa Rican human resource as a main element of our value proposal to the investor. The trust that prestigious companies have put in Costa Rica fills us with pride; but, most importantly, it motivates us to double efforts to continue standing out as a competitive high value hub in the region and in the world. This administration is committed to continue investing in the professional careers that the country requires in order to continue offering talented human resource, besides working in the reduction of costs associated with the companies’ operability and improving the country’s infrastructure”, he said.

CINDE’s Managing Director, Jorge Sequeira, commented “occupying positions of privilege in this specialized ranking shows the good positioning that Costa Rica has among a very strong international competition for attracting quality investment that impacts the country in a positive way. The Life Sciences and Services sectors excel among the best qualified in the country, according to the ranking. The performance of these sectors has been outstanding and has a high impact. In 2014 from Costa Rica’s total exports, 17% belonged to the services sector, IT and other technologies, and 13% belonged to medical equipment, currently the main industrial exportation product of Costa Rica”.

In the area of business and financial services, area in which San Jose leads the ranking, the study reported: “Companies like Citi, State Farm, Teleperformance, Wells Fargo and JP Morgan andamp; Chase add the most quantity of projects each, in cities like Phoenix and Columbus in the United States, Belfast in the United Kingdom and San José in Costa Rica.

The complete study can be accessed here: http://siteselection.epubxp.com/i/592128-2015