Members of the Costa Rican Associations of Private Enterprise (UCCAEP) are calling on the Solís government to issue a declaration of emergency, due to a rising tide of layoffs and companies departing Costa Rica. The group is questioning the macroeconomic stability of the country and taking issue with loss of 26,000 jobs during the last quater of 2014. Among the depatures, include Intel, Bank of America, Ichiban, Hotel La Condesa, Hotel Europa, Cartex, Cathay Bank, Volcano, and Wendys.
UCCAEP rebuffed comments from the government that layoffs and closures were part of the normal turnover of business in Costa Rica. In particular, UCCAEP is calling on the government to addresses the rising cost of electricity and the country’s deteriorating infrastructure.
At the same time the tourism industry is showing signs of decline. For the year 2015, Canatur the hotel association is forecasting that average occupancy, excluding holidays will fall below 50 percent nationally.