Published: Monday, 21th October 2024
The Standard of living in Costa Rica is 1.08 times better as compared to Cuba.
In this page, you will find side-by-side Standard of Living comparison between Costa Rica and Cuba. We have created 53 standard-of-living indicators. We average the values and ranges of all those indicators and take a mathematically calculated approach to determine which country has a better standard of living between Costa Rica and Cuba.
 Indicators  | Costa Rica  | Cuba  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $85.590 billion USD | $147.194 billion USD |
GDP Per Capita (2023)  | 16,213 USD | 13,128 USD |
GINI Ratio (2023)  | 0.47 | 0.38 |
Inflation on Consumer Prices (2023)  | 0.53 % annually | Yet to Update |
Central Government Debt (2023)  | 71.1 % of GDP | Yet to Update |
Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced within a country in a specific time period, usually a year. It is used to gauge the economic performance of a country and indicates how wealthy and productive a nation is. In simple terms, GDP tells us how much a country is producing and how well its economy is doing.
As per the statistics from the World Bank Data for the year 2023, the total GDP of Costa Rica is $85.590 billion USD and that of Cuba is $147.194 billion USD.
On the other hand, Gross Domestic Product (GDP) Per Capita is the average economic output per person in a country. Simply put, it shows how much, on average, each person contributes to the economy, giving an idea of the standard of living and economic well-being of the people in that country.
From the above data, we can say that a person living and working in Costa Rica contributes more to the country's economy compared to a person working in Cuba.
Indicators | Costa Rica | Cuba |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.806 | 0.764 |
Human Capital Index (HCI) (2024)  | 0.63 | Yet to Update |
Literacy Rate (2023)  | 98.04% (15 years+ above age) | 99.67% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 78.6 years | 73.7 years |
Healthy Life Expectancy Ratio (2023)  | 67.6 years | 64.6 years |
Poverty Ratio (2023)  | 25.5% of total Population | Yet to Update |
Unemployment Rate (2023)  | 8.3% of total labor force | 1.16% of total labor force |
The Human Development Index (HDI) is a measure used to assess the overall well-being and quality of life of people living in a country. The key dimensions that give a country good HDI rank are a long and healthy life, being knowledgeable and having a decent standard of living.
From the above given statistics, we can see that the HDI of Costa Rica is [ 0.806 ] and the HDI of Cuba is [ 0.764 ].
The data shows that the people living in Costa Rica has better income, life expectancy and education level compared to Cuba.
Indicators | Costa Rica | Cuba |
|---|---|---|
Gross National Expenditure (2023)  | 95.71 % of GDP | 108.78 % of GDP |
Total Health Expenditure (2023)  | 7.57 % of GDP | 13.79 % of GDP |
Research and Development Expenditure (2023)  | 0.28 % of GDP | 0.32 % of GDP |
Government Expenditure on Education (2023)  | 6.28 % of GDP | 9.39 % of GDP |
International Tourism Expenditure (2023)  | 697 million USD | Yet to Update |
Number of International Tourists Arrivals (2023)  | 1,146,500 | 1,086,000 |
Military Expenditure (2023)  | Yet to Update | 2.88 (% of GDP) |
The total Gross National Expenditure of Costa Rica is 95.71% of its GDP and the total Gross National Expenditure of Cuba is 108.78% of its GDP.
From the above data, we can say that Costa Rica spends 1.14 times less of its GDP on Gross National Expenditure compared to Cuba.
Indicators | Costa Rica | Cuba |
|---|---|---|
Number of Doctors (2023)  | 25.18 (Per 10,000 People) | 94.3 (Per 10,000 People) |
Number of Nurses (2023)  | 60.8 (Per 10,000 People) | 75.7 (Per 10,000 People) |
Number of Pharmacists (2023)  | 11.6 (Per 10,000 People) | Yet to Update |
Available Hospital Beds (2023)  | 1.1 (Per 1000 People) | 5.33 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 97.6 % of total Population | 99.1 % of total Population |
Costa Rica has 3.75 times less Doctors compared to Cuba (Per 10,000 People).
Costa Rica has 1.25 times less Nurses compared to Cuba (Per 10,000 People).
Indicators | Costa Rica | Cuba |
|---|---|---|
Agricultural Land (2023)  | 18,110 Sq Km | 64,010 Sq Km |
Forest Area (2023)  | 30,512.4 Sq Km | 32,420 Sq Km |
CO2 Emissions (2023)  | 0.06 kg per PPP $ of GDP | Yet to Update |
Access to Electricity (2023)  | 100 % of total Population | 100 % of total Population |
Access to Internet (2023)  | 82.6 % of total Population | 71.12 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 3.14 Billion cubic meters | 6.96 Billion cubic meters |
100% of the total Population of Costa Rica has access to the electricity in their homes, whereas, in case of Cuba, 100% of the total Population has access to electricity.
Indicators | Costa Rica | Cuba |
|---|---|---|
Time Required to Start a Business (2023)  | 23 Days | Yet to Update |
New Businesses Registered (2023)  | 20,733 (New Businesses) | Yet to Update |
New Businesses Registration Density (2023)  | 5.8 (Per 1000 People) | Yet to Update |
Cost of Business Start-Up Procedures (2023)  | 9.6 % of GNI Per Capita | Yet to Update |
Indicators | Costa Rica | Cuba |
|---|---|---|
Imports of Goods and Services (2023)  | 33 % of GDP | 48.79 % of GDP |
Total Fuel Imports (2023)  | 12.72 % of Merchandise Imports | 28.82 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 500 USD | Yet to Update |
Time to Import Border Compliance (2023)  | 80 Hours | Yet to Update |
Cost to Import Documentary Compliance (2023)  | 75 USD | Yet to Update |
Time to Import Documentary Compliance (2023)  | 26 Hours | Yet to Update |
Indicators | Costa Rica | Cuba |
|---|---|---|
Exports of Goods and Services (2023)  | 37.29 % of GDP | 40.01 % of GDP |
Total Fuel Exports (2023)  | 0.02 % of Merchandise Exports | 3.22 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 450 USD | Yet to Update |
Time to Export Border Compliance (2023)  | 20 Hours | Yet to Update |
Cost to Export Documentary Compliance (2023)  | 80 USD | Yet to Update |
Time to Export Documentary Compliance (2023)  | 24 Hours | Yet to Update |
Indicators | Costa Rica | Cuba |
|---|---|---|
Gross National Savings (2023)  | 12.63 % of GDP | Yet to Update |
Tax Revenue (2023)  | 14.35 % of GDP | Yet to Update |
Taxes on Exports (2023)  | 0.2 % of Tax Revenue | Yet to Update |
Taxes on Goods and Services (2023)  | 24.51 % of Tax Revenue | Yet to Update |
Taxes on International Trade (2023)  | 4.18 % of Revenue | Yet to Update |
Time to Prepare and Pay Taxes (2023)  | 151 Hours | Yet to Update |
Customs and Other Import Duties (2023)  | 2.66 % of Tax Revenue | Yet to Update |
We hope you enjoyed the detailed guide on the standard of living comparsion between Costa Rica and Cuba.
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