Wonder

Research Outline

Prepared for Rogelio U. | Delivered December 6, 2019

Digital and Technology Trends in Costa Rica

Goals

To understand digital and technology trends in Costa Rica according to these two segments of large corporations and small to medium-sized businesses and startups. For each segment, we would identify 4-5 recent or emerging trends in the digital and technology industries. For each trend, we would explain why it is a recent or emerging trend, explain what it is, and provide 1-2 companies that are engaging in this trend. 

Early Findings

Our research on corporate digital and technology trends in Costa Rica revealed insights. Here are key pieces of information we found:
Corporate Digital and Technology Trends in Costa Rica:FintechA recent technology trend in Costa Rica that is still relatively new is financial technology (Fintech).
 Fintech is currently trending in Costa Rica and continuing to rapidly grow because Costa Rica offers a highly-educated workforce, lower labor costs, a strong macroeconomic framework, and is among the safest countries in Latin America. "A budding online business climate and relatively low levels of competition make Costa Rica a hotspot for future Fintech growth."
 This Fintech trend meets the demand of Costa Ricans for increased digitalization of financial services who have pressured financial institutions there to offer faster and more innovative services. The insurance market and booming real estate markets in Costa Rica are also driving this trend for enhanced connectivity with clients.
 Impesa is one of the major corporations that are engaging in this trend. They are "an innovator of electronic payment solutions", with their corporate office located in Costa Rica. In 2016, Impesa opened another office in Orlando, Florida that continues to focus on global expansion into North America and Europe.
Cryptocurrency Another recent trend in Costa Rica is the increasing use of cryptocurrrency. 
While many Latin American countries have limited cryptocurrency activity or outright banned it altogether, Costa Rica, welcomes cryptocurrency innovation.  Cryptocurrency "is rapidly gaining a foothold in Costa Rica, as some workers are choosing to accept a portion of their salaries in cryptocurrencies."
 Cryptocurrency is an internet-based  financial exchange which uses cryptographical functions to conduct financial transactions.
 Cryptobuyer is one of the corporations engaging in this trend and opened the first bitcoin ATM in Costa Rica.