Costa Rica and Nicaragua are beautiful, friendly countries for vacationing. Based on the theory that it makes sense both financially and for life enjoyment to spend half of the year somewhere warm with a low cost of living, I think that at least Nicaragua (Costa Rica is more expensive) makes sense for retirement. Costa Rica would also be a good place to retire depending on the retirement budget. The difference is that Costa Rica is much more set up for tourists-so it depends on what you prefer. If you like to have everything available to you, then Costa Rica is the best choice; if you prefer to "get away from it all" a bit more or are wanting to ensure that your investment is more likely to be "getting in on the ground floor" then Nicaragua is likely the best for you.
Recently, I have been investing in both countries, as have some of my clients and friends. We are currently working with a number of developers in both countries to assist them in providing vacation ownership opportunities to Canadians. If you would like to be kept informed as more properties come available, please contact us and we will add you to our email list. We hope to see you enjoying what these countries have to offer!