Software development companies in the US are finding it increasingly difficult to remain competitive because of the soaring costs and low availability of software engineers. Offshore outsourcing is slowly becoming a less viable option due to the diminishing quality of products stemming from vast differences in time zones.
In recent times, an unlikely source for engineering talent has emerged in Costa Rica. Intel’s entry into the country back in 2008 established its reputation as a quality provider of IT solutions.
In this blog, we take a look at the factors that make Costa Rica such an important hub for software development.
Highly Educated Workforce
According to The Global Innovation Index, Costa Rica ranks as one of the top three most educated countries in Latin America. This is mainly due to its decision to abolish its army in 1948, and free up resources in order to provide free education for all of its citizens. The number of university graduates has been increasing since 2010 and a highly educated workforce has made it an ideal hub for outsourcing software development projects.
Additionally, the government places great emphasis on acquiring proficiency in the English language for its citizens. In terms of innovation, Costa Rica takes second place, just behind Chile.
Stable Business Environment
After abolishing its army, Costa Rica has been one of the most economically and politically stable countries in Latin America. It also ranks high amongst the countries listed as easy for doing business, as well as one of the safest.
Costa Rica is set to become the world’s first carbon-neutral country by 2021. It has eliminated the need to rely on fossil fuels and hasn’t burned any for energy since 2014. The country relies almost entirely on renewable energy due to a constant supply of rainfall, generating hydropower and providing electricity throughout the year.
Another source of renewable energy comes from consumers’ solar panels that sends surplus electricity to the national grid. Costa Rica is also the only tropical nation that has reversed its deforestation rate.
Advanced Infrastructure and Telecommunications
The Global Competitiveness Report lists Costa Rica as possessing the 2nd most-developed telephony and electricity infrastructure in Latin America. The telecom sector delivers modern, sophisticated, and quality services at relatively low prices across all major cities. High-speed internet is easily accessible and spreads to rural areas as well. Its internet infrastructure is well-developed and downtimes are uncommon.
These are some of the solid reasons why we think Costa Rica is a prime location for outsourcing software development projects. Outcoding provides nearshore outsourcing services in Costa Rica to provide businesses across a myriad of industries with quality software solutions. Contact us today for more information.