Foreign direct investment in Costa Rica shot up 71% in 2006, according to a study released yesterday by the U.N. Conference on Trade and Development (UNCTAD).

Known as the World Investment Report 2007, the study found that foreigners directly invested $1.469 billion in Costa Rica last year.

That puts Costa Rica in fourth place in the region as far as per-capita foreign direct investment, behind Panama, Chile and Uruguay.

The United States remains Costa Rica's main investor, with 47% of foreign direct investment coming from there. Another 23% came from Canada and 5% from Colombia.

The report says the increase in investment in Costa Rica is “partly due to a large sale in the financial sector and partly to rising foreign direct investment in tourism.”

Foreign direct investment in Costa Rica has grown by leaps and bounds since 2004, when it reached $617.3 million and was growing by single digits.