When the topic of Panama comes up, the first two things in most people’s minds are probably Panama tourism and the Panama Canal.  This is an amazing little country and even with all there is to see, Panama tourism only begins to tell its story.  Panama has a colorful history with dictators, pirates, conquerors and the 20th Century’s engineering marvel, the Panama Canal.  Even though the days of pirates, conquerors and dictators are over, other exciting things have taken their places.  Panama tourism offers you the opportunity to swim in two oceans separated by an hour’s ride in the car. Panama investment opportunities are as abundant as ever before and the country is wide open for people from other lands to partake in these opportunities.

Learning about Panama

There is a lot more to know about the country than just the Panama tourism.  This is a small country, about the size of South Carolina; Panama is an S-shaped isthmus that connects South and Central America.  Panama has over 2,600 kilometers of coastline along the Caribbean Sea and the Pacific Ocean.  The country is filled with beautiful vegetation, unique animals, a diverse geography and friendly people.

While the climate of most of Panama is tropical (temperatures generally are 85 to 90 degrees Fahrenheit during the day and 70 to 75 degrees Fahrenheit at night), temperatures in the mountainous regions tend to be much cooler.  The seasons in Panama are basically the “dry season” or summer (the unofficial Panama tourism season), which is from December to April, and the “rainy season” or winter, which is the rest of the year.  The average day in Panama is filled with sunshine and even during the rainy season precipitation generally consists of an afternoon downpour, which many times is followed by more sunshine.  Panama is neighbors with Costa Rica to the west and Columbia to the east.

Panama’s colorful past

Panama has a very interesting history.  Panama City was founded in 1519 and quickly became an important Pacific sea port.  The city continued to grow until it was attacked and destroyed by famed pirate Henry Morgan in 1671.  After a few years, the city was relocated to its nearby, current location.  The old city ruins are still in existence and are a popular stop for Panama tourism excursions.

Panama grew quickly as other countries realized that distance between the Caribbean Sea and Panama City was short and goods could be transported overland to eliminate thousands of miles of sea travel.  Spanish expeditions revealed the geographic possibility for a canal and many were drawn to the idea of building a canal in Panama.  In the late 19th Century, a French company attempted and failed at its effort to construct a canal.  After Panama succeeded from Columbia in 1903, the United States began its endeavor on the canal in 1904 and today’s Panama Canal was completed in 1914 being called by many the “eighth wonder of the world.”  Each year the Panama Canal is one of the Panama tourism’s top attractions.

Panama’s date with destiny took another unusual turn in 1983 when a military coup occurred and Manuel Noriega assumed control as dictator.  After a brutal six-year reign, he was deposed as leader and Panama’s current democracy took control.  This time proved to be pivotal for Panama as efforts could be turned to encouraging Panama investment and opening up Panama tourism.  Since then, the growth has been incredible.

Panama’s business outlook

Panama has been on a strong economic growth trend more than twenty-five years and it shows no signs of stopping.  Using the stability given by the presence of the canal, Panama has been able to attract a huge number of foreign companies and banks for relocation and Panama investment opportunities.  The government has also enacted many laws to foster the growth of such investment, including laws encouraging development of Panama tourism, reforestation projects and the Colon Free Trade Zone (CFZ).

The business outlook continues to be very good for the country and economic growth should be quite strong heading into the future.  The banking district in Panama City has become the second largest in the world and the CFZ is also the world’s second largest, trailing only Hong Kong.  The country historically has very low inflation, the cost of living is very affordable while labor rates continue to keep Panama competitive with all of Latin America and most of the rest of the world as well.  The country has also become very important in the offshore business world, having developed Panama foundations, Panama corporations, and information privacy laws that are among the very best in the world.  Panama’s business approach has literally changed how business is done in the world.

Panama’s economy is very stable; Panama tourism, not only with the canal but in all parts of the country, has the country primed for growth.  Teak plantations, a strong agricultural sector, a construction boom, mining, manufacturing and fishing have given the economy a strong base and the diversification of Panama investments continues to develop other areas of the economy as well.  As foreign investors and retirees continue to come to the country, Panama investment in real estate is at an all-time high and continues growing.  Real estate is very affordable and available throughout the country.  Again the government has enacted laws encouraging not only real estate investment but also foreign involvement in Panama investment throughout the economic sectors of the country.

Panama for travelers

For those interested in Panama tourism, Panama still offers it all.  Panama tourism has been encouraged and supported by the government and with all of the country’s diverse geography and wildlife, this is a perfect get-away.  In addition, the emerging health tourism industry is strong and Panama, with its American trained doctors and world-class hospitals, is primed to be a world leader in the emerging field of medical tourism.

Traveling to Panama is simple.  A visitor from many countries only needs a Passport; from others, including the United States, a tourist card is also necessary and can be purchased at the airport in Panama City upon arrival.  Because the US dollar is the official currency in Panama, there are no exchange problems for many tourists.  Travel is easy, both in the cities and throughout the country; foreigners are well received in Panama and English is spoken in all areas of the country by a portion of the citizens.  There is an abundance of Panama tourism attractions such as the San Blas Islands, Boquete, Panama City, Bocas del Toro and Colon.

Conclusion

Panama is a country that is primed for prosperity.  Panama investment has been a priority to government, whether in the Teak plantations, the housing industry, the Panama Canal or the Panama tourism business.  Foreign investors, retirees and tourists are all welcomed and encouraged to come to Panama.  Panama is a safe country; it is interesting, fun and now is the time to invest in Panama, a country where opportunities abound.