• The report analyzes 34 locations, including the operating headquarters of leading companies, secondary markets, and emerging destinations in the Americas and Europe. 
• Costa Rica is the only Latin American country considered an emerging market, a category it shares with seven cities in the United States. 

San José, Costa Rica, March 26, 2025: Costa Rica stands out globally in Cushman & Wakefield’s 2024 Life Sciences Sector Update report, updated in March 2025. The country is named the only emerging market in Latin America, compared to cities such as Houston, Atlanta, and Phoenix in the United States. 

Job growth in the sector, development of innovative operations infrastructure, the presence of leading global companies, and its position as an essential location for the supply chain are the main aspects highlighted about Costa Rica. 

The firm’s periodic report, which uses global data to analyze a total of 34 locations, compiles in-depth information and generates forecasts of performance in key industries such as life sciences. Specifically, this report analyzed trends in venture capital funding, leasing activity, vacancy rates, and the life sciences labor market. 

The results of the analysis on Costa Rica reaffirm its position as one of the most competitive locations for the industry in the Americas. 

A map of the world with blue and green dots 

AI-generated content may be incorrect. Image: In the country, it is highlighted that the sector’s growth has been sustained and has directly impacted the development of high-level operational infrastructure and job creation. Multinational companies view Costa Rica as a key location for their production chains and market access. 

Costa Ricans in the industry 

In terms of employment, the report highlights that the life sciences industry currently employs more than 54,500 people, representing a 216% growth over the last decade. 

According to figures from the Costa Rican Coalition of Development Initiatives (CINDE), by 2024, the sector will add 2,600 net jobs, representing almost half of the total net employment generated in strategic sectors for Foreign Direct Investment. 

According to experts at Cushman & Wakefield, the country has made it easier to find the skilled labor that the industry requires and that is in short supply in other markets. The report indicates that over the last five years, global employment growth in the sector has been robust, with emerging markets like Costa Rica showing the highest figures, with 31%, surpassing the 26% and 16% growth in headquarters and secondary markets, respectively. 

Employment forecasts point to slightly slower, but still positive, growth for the next five years. In emerging markets like Costa Rica, the growth rate is expected to be around 9.6%. 

Significant Footprint 

The rapid expansion of the industry has driven significant 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 not only concentrated in the Greater Metropolitan Area (GMA), but are also expanding to the West, facilitating production and research in new regions of the country. According to Marianela Urgellés, General Manager of CINDE, “of the 21 new multinational companies that decided to open operations in Costa Rica in 2024 with the organization’s support, 19% were life sciences companies, making it the second strategic sector with the most new projects. Furthermore, of the reinvestments reported during the year, CINDE reported that life sciences represented 25% of the total, with 14 expansions and new operating plants for leading companies in Costa Rica.” 

Daniel Álvarez, General Manager of Cushman & Wakefield Costa Rica, highlighted that “the sustained growth of the sector in the country, strategic investments, and the favorable business environment in Costa Rica have resulted in a construction footprint of more than 1 million square meters (m²) of inventory dedicated to this sector, with 160,000 m² under construction and more than 800,000 m² in planning, reflecting its constant expansion.” 

Currently, more than 90 multinational medical technology (MedTech) companies operate in Costa Rica, including 13 of the top 20 original equipment manufacturers (OEMs) worldwide, taking advantage of the benefits of the free trade zone regime and a robust industrial ecosystem. 

About Cushman & Wakefield | AB Advisory 

It is the largest real estate consulting firm in Central America, based on transaction value and square meters negotiated, as well as the volume of its operations and the international recognition of its clients. The company is part of the alliance program of Cushman & Wakefield, a company founded in 1917 in New York, United States, which began as a family-owned real estate brokerage advisory business. It currently has 400 offices spread across 60 countries and employs 53,000 people. For more information, visit www.ab-latam.com 

About CINDE 

CINDE is the expert and strategic guide for investment, business development, and talent development initiatives in Costa Rica. Thanks to its 43-year track record of working with multinational companies and a key player in the investment ecosystem, CINDE has developed dozens of talent development initiatives as a key element of Costa Rica’s business climate and has supported the establishment of more than 45fi0 multinational companies.