Hire your remote team in Puerto Rico

According to the World Economic Forum, Puerto Rico has one of the world's most competitive economies, with a high cash flow and significantly better job opportunities. The pandemic did have a significant impact on this Caribbean island, but the country has made a remarkable recovery. Prior to the pandemic, the country's unemployment rate was around 9%. Nonetheless, a rapid decrease in these numbers has been observed, indicating that more opportunities for the working sector are being opened. The service sector, which includes trading, finance, and government work, is one of the country's economic driving forces.

In terms of living expenses, this island is 15% less expensive than the United States of America. The cost of living in this area varies depending on the location sought. The only disadvantage is that real estate prices have recently risen due to the COVID-19 pandemic. However, the rates are not as high as in America's major cities. Despite rising property prices, there are a few places in Puerto Rico where one can live comfortably.

One can look for places to live based on their budget. One advantage of living in Puerto Rico is that rental properties in good areas can be found at reasonable prices. Certain areas can be pricey, but living here is generally affordable, with an average monthly rent of around US $300 - US $1500.

Labor contracts are governed by state and federal labor statutes, and dealing with employees is a highly regulated process. Before starting a new job, a few factors should be considered, such as

- Onboarding expenses

- Cost of training an employee

- Variation in costs concerning the salary and perks

- Interview and background check cost

- Time invested

The country relies on both traditional and modern modes of living. Because it is a high-income country, a wide range of skills are in demand. Because the economy is rapidly improving, the country has welcomed many skilled individuals such as technicians, doctors, graphic designers, artists, and so on. Here, enthusiastic immigrants are welcomed with open arms. ‍

If you are an employer and are looking to hire in Puerto Rico, these are the major skills and areas which have witnessed a recent growth:

1. Pharmaceuticals

2. telecommunication

3. Clothing and Textile Industry

4. Petrochemical Industry

5. Electronics

6. Medical Science

Each city in the Commonwealth of Puerto Rico has its own set of values, landscapes, cultures, and opportunities for the people who live there and the immigrants who come with their dreams. The colors, lights, and diversity here are all points of interest for tourists, and the opportunities that the country offers only add to that.

- San Juan is the capital city of the Commonwealth of Puerto Rico and the city with the most people. This city is the 46th largest under US jurisdiction, with a population of 395,326 people and an average salary of US $48,000. Significant progress has been made in the tourism sector, and the city has welcomed numerous multinational corporations. This has resulted in an increase in the demand for skilled workers in various sectors, particularly the secondary sector.

- Bayamón: Bayamón is yet another city in the northern coastal valley. The city is beautiful, and it is known for its cultures, lights, and festivals. The city has a total population of 185,996, and the average salary is US $16,000. The fauna and flora are spectacular, and the tourism industry is expanding. This is one of the reasons why the city is opening a variety of entertainment centers, which has increased demand for qualified employees.

- Carolina: Located to the east of San Juan, this city has a population of 157,832 people and an average salary of US$ 45,946. Along with the entertainment industry, the sports industry has grown in this city. The government and private sector companies want to train and hire people for a variety of critical roles.

The agricultural sector is the least affected on the island. The government is investing heavily in this sector to ensure that local production of goods is promoted in order to combat imports and increasing reliance on other countries. Furthermore, capital-based industries are growing to replace industries that manufacture goods such as tobacco, textiles, and so on, which account for 48.5% of total GDP. Despite being severely impacted by the pandemic, the industrial sector remains stable and largely unaffected.