Costa Rica is the chief exporter of high-value technology services in Latin America. The nation's IT service exports account for the lion's share of the GDP. Over the years, Costa Rica has grown from offering transactional services to premium services as a strategic outsourcing location. The nation has morphed itself into a competitive and mature environment for complex business services in the tech industry.
A bevy of government programs and initiatives by IT leaders is spurring a digital revolution and inspiring women to take up STEM careers. The New Normal has accelerated the nation's efforts toward digital transformation by adopting strict policies across cybersecurity, privacy, and e-commerce. The start-up culture, innovation incubators, growth of unicorns, and co-working spaces offer the ideal ecosystem for gig talent and companies to flourish. The overlapping central time zone with nearshore countries facilitates strategic alliances and real-time collaboration between service providers, partners, and clients. A welcoming government, stable political climate, skilled workforce, high literacy rate, robust infrastructure, and cultural affinity with the West have spurred the region's maturation as a delivery center.
All the above proof points endorse the bullish outlook of leading advisory firms, multinational corporations, and tech giants. Global sourcing practitioners are setting their sights on this "next-wave" location for the right reasons. The capital city and neighboring cities are poised to become essential poles for software industries and ITC growth by 2025. The Silicon Valley of LATAM is a nearshoring star leading the way in innovation.
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