Costa Rica vs Panama
A data-driven side-by-side: investment score, economy, business climate, political stability, and tax, to help you decide where to invest, incorporate, or relocate.
Overall: Panama ranks higher
Panama scores 65/100 on our composite investment index, ahead of Costa Rica at 60/100. This blends economic strength, political stability, business climate, financial maturity, and growth outlook. Read the breakdown below to see where each country actually leads.
Category breakdown
58
Economic strength
Panama leads
65
68
Political stability
Costa Rica leads
58
62
Business climate
Panama leads
70
52
Financial maturity
Panama leads
68
55
Growth outlook
Panama leads
58
Macro snapshot
71
GDP (USD bn)
-11.5 bn
82
3.8%
GDP growth (%)
+0.3 pp
3.5%
$13,200
GDP per capita (USD)
-5300.0
$18,500
1.8%
Inflation (%)
-0.2 pp
2.0%
4.5%
FDI (% of GDP)
-1.0 pp
5.5%
62%
Public debt (% of GDP)
+7.0 pp
55%
5.2
Population (M)
+0.8M
4.4
Costa Rica: strong sectors
- Technology7.0% of GDP72
- Tourism8.5% of GDP68
- Medical Devices6.0% of GDP65
- Agriculture5.5% of GDP55
Panama: strong sectors
- Logistics & Canal18.0% of GDP78
- Financial Services14.0% of GDP70
- Tourism8.0% of GDP62
- Construction10.0% of GDP58
Frequently asked
Which is better for investment: Costa Rica or Panama?
Our composite investment index gives Costa Rica a score of 60/100 and Panama a score of 65/100. Panama ranks higher overall, but the right answer depends on your sector and risk tolerance. See the category breakdown above.
Is Costa Rica a safer market than Panama?
Risk classification puts Costa Rica as moderate (Growing economy with manageable risks - suitable for diversified portfolios) and Panama as moderate (Growing economy with manageable risks - suitable for diversified portfolios).
Which has higher GDP growth: Costa Rica or Panama?
Costa Rica is currently growing at 3.8% per year, vs 3.5% for Panama. Costa Rica has the faster headline growth rate today.