![]() It also performs well in comparisons of democratic governance, press freedom, subjective happiness and sustainable wellbeing. ![]() It has also been cited by the United Nations Development Programme (UNDP) as having attained much higher human development than other countries at the same income levels, with a better record on human development and inequality than the median of the region. The country has consistently performed favorably in the Human Development Index (HDI), placing 58th in the world as of 2022, and fifth in Latin America. Following the brief Costa Rican Civil War in 1948, it permanently abolished its army in 1949, becoming one of only a few sovereign nations without a standing army. It remained a peripheral colony of the empire until independence as part of the First Mexican Empire, followed by membership in the Federal Republic of Central America, from which it formally declared independence in 1847. Ĭosta Rica was inhabited by indigenous peoples before coming under Spanish rule in the 16th century. Many foreign manufacturing and services companies operate in Costa Rica's Free Trade Zones (FTZ) where they benefit from investment and tax incentives. Its economy, once heavily dependent on agriculture, has diversified to include sectors such as finance, corporate services for foreign companies, pharmaceuticals, and ecotourism. The country spends roughly 6.9% of its budget (2016) on education, compared to a global average of 4.4%. It has a long-standing and stable democracy and a highly educated workforce. The sovereign state is a unitary presidential constitutional republic. An estimated 333,980 people live in the capital and largest city, San José, with around two million people in the surrounding metropolitan area. It has a population of around five million in a land area of 51,060 km 2 (19,710 sq mi). Costa Rica is bordered by Nicaragua to the north, the Caribbean Sea to the northeast, Panama to the southeast, and the Pacific Ocean to the southwest, as well as maritime border with Ecuador to the south of Cocos Island. Costa Rica ( UK: / ˌ k ɒ s t ə ˈ r iː k ə/, US: / ˌ k oʊ s t ə-/ ⓘ Spanish: literally "Rich Coast"), officially the Republic of Costa Rica ( Spanish: República de Costa Rica), is a country in the Central American region of North America.
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