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Banking Sectors Follow the Money, Flock to Costa Rica’s Tourist Spots

Article Summary:

Banks in Costa Rica are following the flow of money and have set up shop in many populated tourist areas, where capital that was once seen through investments is now found in tourism.

Photo Credit: Revista Summa

Original Article Text From Revista Summa via Google Translate :

Banking Services Migrate to Tourist Areas in Costa Rica

Puntarenas, Santa Cruz, Nicoya, Quepos and San Carlos are some counties that have increased the supply of banking services in recent years.

Now, close to beaches and places of rest, may also be credit transactions, credit card transactions, foreign exchange and withdrawals.

The real estate boom experienced by the country before 2008 led to major banks to start operations in areas with higher growth in construction and commercial activity, reported La Nacion, Costa Rica.

This movement was later affected by the global financial crisis, which caused a reduction in tourist numbers and a decrease in real estate development boom.

But banks now renew their hope in these areas.
“Before the crisis, the peak areas were San Carlos and San Jose, then had a negative effect. But the economy has begun to recover and the arrival of tourists, “Minor said Solano, chief commercial Bancrédito.

Thus, banks now opt to offer all its services in communities such as Flamingo, Tamarindo, Jaco, Manuel Antonio and La Fortuna, among others.

New Destination
In addition to receiving a revival on the Pacific coast and the north, banks turn their eyes to the Caribbean.

“The improvements and port development Lemon also produce increased demand for services,” said Ronald Valdez, vice president of Business, Scotiabank.

Link to Original Article:

From Revista Summa

Latin America Investment News on Viva Tropical