This article speaks to both the construction and tourism industry in Costa Rica. They have been hit much harder than originally thought and they will soon head into low season.
Excerpts from Canada.com:
Once-bustling construction sites on Costa Rica's Pacific coast are lying silent as a real-estate boom fuelled by tourists and U. S. expatriates slumps due to the global financial crisis.
At a dozen building sites around the picturesque Tamarindo resort town, where workers once crawled up and down hulking concrete structures, now only security guards stand vigil in the midday tropical sun.
Now the beach, normally crowded at this time of year, Costa Rica's busiest tourist season, is half-empty as cash-strapped travellers opt to stay at home.
Tourism is Costa Rica's No. 1 source of foreign-exchange earnings, so any dip can have a major economic impact on the country, also known for its eco-lodges in tropical jungles.
"We didn't expect this to happen, no one saw the crisis coming," said developer Guillermo Cubas, whose six-unit Brisas del Monte condominium stands idle.
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