The cost of living is so low in Costa Rica that it’s one of the cheapest countries in Latin American, according to a new report from the Economist Intelligence Unit.
Costa Rica is ranked among the least expensive countries in the world for a number of reasons.
One of the reasons for that is that Costa Rica has a low tax rate, and the country’s GDP per capita is among the lowest in the region, at US$1,842.
Costa Ricans also have low infant mortality rates, and its government also does not tax people on their earnings.
However, its lack of public transport makes it difficult for residents to get around the capital.
And Costa Rica’s low average temperature, at minus 19 degrees Celsius, makes it particularly challenging to get to work.
The Economist Intelligence unit said Costa Rica had a “high degree of mobility” with access to cheap transportation.
“Costa Rican government subsidies are available to many people, but most of these are used for public transport,” the report said.
While Costa Rica was ranked the second-cheapest country in the Americas, it fell short of the US and Australia in terms of the amount of money spent on health, education, health care and social welfare.