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Tag-Archive for "Local Economy"

Another Costa Rican Earthquake Rocks Jaco Jun 27

Just after everyone was getting back to normal after this mornings earthquake, and a little aftershock another big earthquake this afternoon got those nerves jumping again. This time it is the same region but slightly inland, so I am not sure if this is an aftershock or a separate plate displaced by the this mornings event. So far they have given this one a 5.9 magnitude.

Again, this quake had the un-nerving lateral movement like you are walking on a hanging bridge. These two big quakes have been smooth in the sense of the lateral movement would slow down when it reached the edge of the wave and then return in a smooth way. The earthquake on Jan. 8th was lateral but very short and rapid lateral movements which is very damaging. Any surfer who has had a big wave close on them and put them through the “rinse cycle” knows what the fast lateral movements feel like.

Here is the map location of the latest:

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costa rica earthquake july 2011,earthquake jaco
Earthquake Hits Pacific Coast in Costa Rica Jun 26

UPDATE: New reports indicate that the magnitude was 5.7 but USGS said it was 5.9

Around 11:25 Central America time, a long and powerful earthquake rocked the surfing beach town of Jaco, Costa Rica. This quake was a very powerful lateral slide that moved near 6 inches back and forth. When the earthquake hits, I ran outside to see all of the electrical poles swaying back and forth along with people running out of their homes.

Costa Rica was hit by a powerful quake on Jan. 8th which was a 6.1, this one felt much more powerful than that and was of much longer duration. This quake was definitely in the making because for the past week there was small lateral movements each day. Currently the news is stating this is the same magnitude that hits us in January.

Check back for more details, you can see the location of the quake epicenter below.
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Costa Rica’s Unemployment Ruse Jun 17

san-jose-costa-ricaAccording to the latest numbers, 15,000 people lost their jobs in Costa Rica during the month of December 2008 . Business closings and reduced revenue due to lower international consumer spending are the main reasons. Simply listen to the latest newscast and you will hear about worldwide job loss and rising unemployment in the economic superpowers. Costa Rica depends mostly on tourism for its revenue but it has reached out in the past to attract manufacturers to augment that revenue. But that is not even a good hedge bet today, Sylvania announced it will be closing its plant in Pavas, leaving another 200 josefinos unemployed.

Unfortunately, business closings will not stop with the Sylvania plant. Leading economists are predicting the cliche “things are expected to get worse before they get better.”  Many in the international banking business say the economic downturn will last more than two years. Last year, Costa Rica’s unemployment level was near 5% and in 2009 is expected to rise to 6%.

In an thinly veiled attempt to reduce the economic downturn effects on job loss, UCCAEP, Costa Rica’s union of private businesses said it will be presenting a bill to congress called the “Law of Employment Protection in Moments of Crisis”. Their proposed law would present temporary changes to the more…

san jose costa rica
Costa Rica High Season is a HIT! Jun 13

With the USA and western Europe economy suffering the worst economic depression ever recorded, the Costa Rican tourism officials had their fingers crossed entering the start of High Season.  The ICT which is the official agency that promotes tourism here in Costa Rica made a public relations event out of the 2,000,000th customer visting here.

Many hotels and industry have been hurting in Jaco as a result of the lower tourist numbers but most agree that their real money comes in during the high season. So everyone in Jaco was crossing their fingers and hoping it would be equal to last year at least. But if you are a regular here in Jaco you know the tourists are here in droves. Even the nationals are visiting Jaco in large numbers since the national schools are on vacation.

Chuck from WOW Surf told me last week that he is very busy and is not complaining. Taco Bar, a local favorite, serves fresh fish tacos has been jammed the past few days as tourists feast on the salad buffet and fresh fish. Even the shops that sell anything from a fish comb to ceramic wind chimes have been selling their wares to eager tourists.

I wish I could say the municipality was ready for this but they were not. Luckily for Jaco, tourists do not factor this when deciding whether or not to visit us. But the muni could have waited to dig up the “Pop’s” calle until after the high season instead of leaving it as a dirt road filling the main street with plenty of dust that tourists have to cover their mouths and shield their eyes when near. Jaco’s, Chinese funded, park is still not complete while tourists try and shoot photos of the large Iguanas that used to inhabit the refuge.

Check back next week for our new photo gallery and virtual tours of Costa Rica’s most famous tourist attractions.

Costa Rican Coffee to Stimulate China? May 27

Costa Rican Coffee

Million dollar loans, a new national football stadium and the construction of a China town in San Jose are just a few of the exchanges between two familiar nations. The Chinese-Costa Rican relationship has grown in leaps and bounds over the past year since the Latin American country switched its diplomatic ties from Tawain to Beijing.

Indeed, at the moment, negotiations are being arranged to form a Free Trade Agreement between the two countries, something which the Costa Rica coffee industry sees as a potential goldmine. more…

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