Why Spending US Dollars in Costa Rica Can Be Surprisingly Difficult
When money is the subject, I am as old school as anybody. Cash is king in my world. The thrill, the feel of a stack of banknotes will always beat looking at a set of digits on my phone screen. Like precious metals, classic cars and gemstones, paper currency is tangible; You can touch it, hold it, photograph it fanned out in your hand like some young dude on his way to the pawn shop to get his gold chain out of hock. When it comes to greenbacks– US dollars– I am clearly part of a vanishing breed. Only about ten percent of the US dollar supply is represented in cash and coins. The rest is numbers on a screen, digital transactions accessed in a few seconds, no counting of change needed. Our dominant method of payment is as common worldwide as locally. India, Brazil and China – three of the major BRICS countries– are also the top three in percent of digital transactions. As for Costa Rica, the number is around thirty percent of transactions still done with cash, which is the secto...