Entrepreneurs face the end of the year with more confidence, without leaving concern about insecurity

From left to right, Rubén Acón, president of Canatur, Maritza Hernández and Jorge Luis Araya, from Uccaep, and Sergio Capón, from the Chamber of Industries. (CRH).

(CRHoy.com) -Businessmen close this year with an increase in perception and trust in the country’s economy.

This is revealed by the IV Quarterly Business Survey “Business Pulse”, the results of which were announced this Wednesday by the Costa Rican Union of Chambers and Associations of the Private Business Sector (Uccaep).

The study applied in the first weeks of October reflects that the Business Perception Index (IEP) of the Third Quarter 2023 reached a level of 5.7which equals the highest indicator of the last 24 months.

The indicator of the level of business confidence (IEC), for its part, registered a level of 5.8 by the end of 2023, showing a sustained increase in the index in the last three applications.

The results in both indices are consistent with other specific queries that were asked of the entrepreneurs, such as, for example, if they would increase their spreadsheet in the last months of the year.

To this question a 36% responded affirmatively. These are mainly hiring positions for technicians (50%), 32% for semi-skilled personnel, 7% for professionals and 9% for unskilled workers.

Meanwhile, alone one in ten companies contemplates laying off or reducing its staff at the end of this year.

When consulting the business sector about the economic situation of the country, 70% said that they consider that
authorities are taking measures to boost the economy.

56% of those consulted recognize that it is a good time to carry out investments of capital in companies.

In this sense, they mentioned the importance of having more financing alternatives, as well as the implementation of more agile contracting tools, such as the legislative approval of the exceptional working hours.

Economic variables

The survey also shows that the majority of businessmen estimate that the exchange rate will remain downward. 82% of the companies consulted believe that by the end of 2023 it will be in the range between ¢520 and ¢540.

This will continue to have repercussions on sectors whose main income is in dollarsas in the case of tourism and the industrial and agricultural sectors that are exporters.

On the real growth of the Gross Domestic Product (GDP), businessmen agree that 2023 is a year of greater dynamism, 13% point to growth of more than 6%, mainly in service and manufacturing sectors. manufacturing industry. 36% mention more moderate growth, less than 2% in real terms, mainly in sectors such as agriculture and commerce.


The wave of insecurity and crimes It was also considered as a variable evaluated by businessmen.

In this case, 18% considers that the wave of violence does have a direct impact on the development of its business activities. Besides, 4 out of 10 companies considers that the authorities are not taking the necessary security measures to protect or contain the impact of violence on the national productive sector.

Data sheet

The Union of Chambers has been carrying out the survey for 28 years as a mechanism to measure the feeling of the business sector formal and analyze current political and economic issues.

It is applied quarterly through telephone interviews to 380 owners, presidents or managers of companies from all productive sectors in the country. On this occasion it was applied between October 2 and 13.

The survey has a 95% confidence level and a statistical error of 5.6%.

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