Why are more and more millionaires investing in Costa Rica, and what does that mean for you?
More and more millionaires have begun to leave the United States. The “American Dream” is failing. Millionaires are looking for opportunities as well as happiness, elsewhere. Costa Rica has become a destination for those searching for better investment options, a better lifestyle, and a safer place to raise their families.
From the years 2013 to 2019, the net inflow of millionaires to the US varied from 6,400 to 10,800. In 2022, the net inflow dropped 86%… to only 1,500 high net worth people. Millionaires no longer feel the United States is the best option for their money and this is not just because they want to evade taxes.
High net worth individuals are tired of political tensions, the increase of crime rates, gun violence, social issue conflicts and an unpredictable market in the United States. Costa Rica offers a breath of fresh air. Here, foreigners can own titled land, easily attain a Costa Rica residency, never worry about a military or gun violence, and most importantly have a safe place to raise their families.
This shift is easy to see. Just in the Papagayo region, four new 5 and 7 star hotels/resorts will be opening. The Ritz Carlton, Six Senses, Waldorf Astoria, and One & Only are all breaking ground. At the Guanacaste International Airport, they are planning on building a new terminal specifically for private jets due to the fact that private flights have increased from 460 to 1,300 in 2022. Property values are going up and many more million dollar homes are being constructed.
Thankfully, Costa Rica is not just for millionaires. But the fact that high net worth people are investing here should give you peace of mind. If a millionaire is comfortable investing $7,000,000 dollars in an ocean view home, the $200,000 dollar walk to the beach condo you have been dreaming about is a safe bet!
You don’t have to be a millionaire to have access to a warmer, safer, and more “Pura Vida” future. We have begun to see a variety of people moving down to the Papagayo region. Young families, digital nomads, and regular everyday people just trying to escape the rat race. Costa Rica has opportunities for all budgets, not just millionaires and retirees. Plus your property value is bound to go up, as the airport begins to fill with private jets.
Follow the millionaires. Forget the “American Dream” and just live in Costa Rican Paradise!