San José, Costa Rica, May 6th, 2025: Costa Rica was prominently featured in
Cushman & Wakefield’s 2024 Life Sciences Trends Update, and updated in March 2025, standing out as Latin America’s only emerging market for
life sciences. The country appears alongside U.S. cities such as Houston, Atlanta, and Phoenix within this exclusive category.
Among the primary factors highlighted for Costa Rica are employment growth in the sector, the development of an innovative operational infrastructure, the presence of leading global companies, and positioning as a key supply chain hub
. The report, published periodically by the firm and based on global data, analyzed 34 locations in total, gathering in-depth information and generating projections for key life sciences industry trends. Specifically, the report covered trends in venture capital funding, leasing activity, vacancy rates, and the labor market within the sector.
Findings from the analysis of Costa Rica reaffirmed its positioning as one of the most competitive industry hubs in the Americas.
The report emphasized that the sector's growth in Costa Rica has been sustained, directly contributing to the development of high-quality operational infrastructure and job creation, while multinational companies view Costa Rica as a key hub for their production chains and market access.
Costa Ricans in the IndustryIn terms of employment, the report highlighted that the life sciences industry currently employs more than 54,500 people, reflecting a 216% increase over the past decade.
According to figures from
CINDE, in 2024, the sector added 2,600 net new jobs, accounting for nearly half of the total net employment generated in strategic Foreign Direct Investment sectors.
For
Cushman & Wakefield experts, Costa Rica has provided the qualified workforce that the industry requires – talent that is in short supply in other markets. The report indicated that, over the past five years, global employment growth in the sector has been robust, with emerging markets like Costa Rica showing the highest figures: 31%, compared to 26% and 16% growth in core operating hubs and secondary markets, respectively.
Employment forecasts point to a slightly slower, though still positive, growth rate over the next five years. In emerging markets like Costa Rica, the growth rate is expected to hover around 9.6%.
Significant FootprintRapid industry expansion has driven substantial real estate development, with the creation of specialized spaces such as clean rooms, laboratories, and high-tech manufacturing plants designed to meet the highest international regulatory standards. These state-of-the-art facilities are concentrated not only within the Greater Metropolitan Area (GAM, from its acronym in Spanish) but are also expanding westward, facilitating production and research in new regions of the country.
According to Marianela Urgellés, Managing Director of CINDE, “
Of the 21 new multinational companies that, with CINDE’s support, decided to open operations in Costa Rica in 2024, 19% were life sciences companies, making it the second most active strategic sector in terms of new projects. Additionally, of the reinvestments reported during the year, CINDE noted that life sciences accounted for 25% of the total, with 14 expansions and new operational plants by leading companies in Costa Rica.”
Daniel Álvarez, Managing Director of Cushman & Wakefield Costa Rica, emphasized that “
the sector’s sustained growth in the country, along with strategic investments and Costa Rica’s favorable business environment, has translated into a construction footprint of more than 1 million square meters of dedicated inventory, with 160,000 square meters under construction and over 800,000 square meters in planning – reflecting its ongoing expansion.”
To date, more than 90 medical technology (MedTech) multinationals operate in Costa Rica, including 13 of the world’s top 20 original equipment manufacturers (OEMs), taking advantage of the benefits of the
free trade zone regime and a robust industrial ecosystem.
About Cushman & Wakefield | AB AdvisoryCushman & Wakefield is the largest real estate consultancy in the Central American region, both in terms of transaction value and square meters negotiated, as well as operational volume and the international recognition of its clients. The company is part of the Cushman & Wakefield alliance program. Founded in 1917 in New York, United States, Cushman & Wakefield began as a family-owned real estate advisory business. Today, it operates 400 offices across 60 countries and employs 53,000 people. For more information, visit [www.ab-latam.com](http://www.ab-latam.com).
About CINDE CINDE is Costa Rica’s expert and strategic guide for investment, business development, and talent initiatives. With more than 43 years of experience working with multinational companies and as a key player in the investment ecosystem, CINDE has developed numerous talent development initiatives as a core element of Costa Rica’s business climate and has supported the establishment of more than 450 multinational companies.
