Back in Feb, 2007 U.S. retail mega-giant Wal-Mart Stores Inc., the world's largest retailer, said they would spend $49 million to open 14 new stores in Costa Rica and all within a year. The business hype was simple, it would create 1000s of new jobs, keep the government happy with additional tax revenue, keep prices down, and provide Costa Ricans with some of the US luxuries (like electronics) … [Read more...]
Costa Rica, Rod Blagojevich and Robert Vesco
04/16/2009 by Leave a Comment
When I heard that the ousted major of Chicago, Rod Blagojevich, who pleaded not guilty to federal racketeering and fraud charges last Tuesday is trying to become a contestant in a reality show to be filmed in Costa Rica, my head shook slowly, dropping to my chest. I understand that Costa Rica’s economy is bad right now (tourism down 50%) but really, is Costa Rica that hard up? It appears the … [Read more...]
Cell Phones in Costa Rica. Renting, ICE and Coverage
04/15/2009 by Leave a Comment
Time and time again, I get questions about cell phones, whether or not US cell phones will work in Costa Rica. First, let’s make it very clear; Costa Rica is not like the US cell phone companies, where there are a bunch of “competition.” Costa Rica has only one cell phone company, and it is a government run and operated monopoly, Instituto Costarricense de Electricidad (ICE). “Okay. No big … [Read more...]
Costa Rica and China – Caribbean Refinery, Investments, Bonds and Aid
04/08/2009 by 1 Comment
Is China using its $1.8 trillion in foreign exchange reserves, the world’s largest such cache of foreign currency, to further its political and diplomatic goals, despite promises that it would not do so? Are they using these reserves to win the support of the people, by first building the $84 million, new National Soccer Stadium in Parque La Sabana for the Costa Rica Sports and Recreation … [Read more...]
Free Trade in Costa Rica – Is it working?
03/08/2009 by Leave a Comment
Back in Oct, 2007 Costa Rica (by a close vote (53/ 47) approved a free trade agreement (FTA) with the United States. The vote split the country, with supporters arguing it would bring economic development, and critics warning (mostly labor unions) that it would hurt the little guy, like farmers and small businesses. This trade agreement was suppose to expand Costa Rica's access to the US market … [Read more...]
Costa Rica Gambling – Online Betting Casinos Bookies
Costa Rica has long been one of the more loosely regulated jurisdictions for online casinos and sports books. Operators need only a business license from the government to set up Internet gambling servers. And because of this, you can just about count on that every online bet is being funnel through Costa Rica. Online betting websites like Bodog and BetUS are two of the biggest in the World, … [Read more...]