Costa rica (Republic of Costa Rica)
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The sovereign state is a unitary presidential constitutional republic. It has a long-standing and stable democracy and a highly educated workforce. The country spends roughly 6.9% of its budget (2016) on education, compared to a global average of 4.4%. Its economy, once heavily dependent on agriculture, has diversified to include sectors such as finance, corporate services for foreign companies, pharmaceuticals, and ecotourism. Many foreign manufacturing and services companies operate in Costa Rica's Free Trade Zones (FTZ) where they benefit from investment and tax incentives.
Costa Rica was inhabited by indigenous peoples before coming under Spanish rule in the 16th century. 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. 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.
The country has consistently performed favorably in the Human Development Index (HDI), placing 58th in the world, and fifth in Latin America. 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. It also performs well in comparisons of democratic governance, press freedom, subjective happiness and sustainable wellbeing. It has the 8th freest press according to the Press Freedom Index, it is the 35th most democratic country according to the Freedom in the World index and is the 23rd happiest country in the 2023 World Happiness Report.
Currency / Language
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