Costa Rica has been recognized as the country with the highest level of economic freedom in Latin America, according to an international report that assessed 165 countries worldwide. Our country ranked 14th globally, ahead of nations such as Chile (26th), Panama (27th), and Guatemala (28th). In contrast, Venezuela was placed at the very bottom of the index.
The index evaluates five main areas: size of government (spending, taxes, intervention), legal system and property rights, monetary stability, freedom of international trade, and economic regulation. Results show a sharp difference between countries with high and low economic freedom: in the former, incomes are more than six times higher, life expectancy is greater, people work fewer hours, and levels of corruption and infant mortality are significantly lower.
Costa Rica’s leadership rests on several strengths. The country benefits from strong legal security and the rule of law, which provides confidence to both investors and citizens. Its openness to international trade through numerous free trade agreements has strengthened competitiveness. Despite fiscal challenges, monetary policy has contributed to inflation control and trust in the financial system. A balanced regulatory framework allows dynamism in business activity, while strong democratic institutions provide stability and continuity.
This recognition places Costa Rica in a favorable position as an attractive destination for foreign investment and reaffirms its role as a regional leader where democracy and economic dynamism go hand in hand. Yet challenges remain: public debt, social inequality, and the need for greater institutional efficiency are key issues to address in order to ensure that economic freedom translates into greater well-being for all. Environmental sustainability also remains essential so that economic development does not compromise the country’s natural wealth.
Costa Rica’s leadership in economic freedom is both a source of pride and an opportunity. It reflects the country’s achievements in institutional strength and openness to the world, while serving as a reminder of the need to invest in education, innovation, and social inclusion. The true goal is not only to appear in an international ranking but to use this advantage to build a more just, sustainable, and prosperous future for everyone.
