PANAMA:
MUCH MORE THAN A CANAL
Panama is world-famous for its 48-mile canal that connects the Pacific Ocean with the Atlantic Ocean. Each year, over a million people visit the canal and are able to witness this engineering marvel at work. Panama is very proud to have this magnificent creation operating 365 days a year, enabling the world’s cargo to be shipped efficiently and safely to new destinations.
Three million years ago, the Isthmus of Panama emerged from the sea and changed the world forever. It divided an ocean and joined two continents together, triggering one of the most important natural evolution events in the history of the world. Today, this narrow land bridge in Central America is home to more species of birds and trees than the whole of North America. We invite you to discover its beautiful landscapes, rich culture, and endless tourist activities, right at your fingertips.
Some of these activities you can enjoy include rainforest tours, surfing, snorkeling, diving, hiking, camping, bird watching, white water rafting, zip-line tours, and more. In Panama City, you can enjoy world-class dining, nightlife, casinos and shopping! Panama has attracted some of the world’s most famous brands to set up shop here, including Gucci, Prada, Cartier, Hermes, Nike, Ralph Lauren, Micheal Kors, Carolina Hererra, Chanel, and countless others. Tourists from all over the world come to Panama and experience a modern, beautiful city with all the amenities one would expect from a world-famous business and tourism hub.
Panama Economic Outlook
November 10, 2020 (source: https://www.focus-economics.com/countries/panama)
The economy likely remained downbeat in Q3 on lingering domestic Covid-19 restrictions. Activity in the Panama Canal was down in the third quarter, which highlights that weak international trade continued to batter the important transport sector, albeit to a lesser extent when compared to Q2. Moreover, a raft of domestic indicators paint a similar picture: Fuel sales, cement sales and new car registrations were all down markedly in annual terms in Q3—although again to a lesser extent than in Q2—suggesting depressed domestic travel, construction activity and private consumption, respectively. Similarly, merchandise exports were down sharply in July–August. In other news, the government lifted some restrictions on 25 October, including reopening beaches and ending the Sunday quarantine. The move came after international travel resumed on 12 October and gender-based mobility restrictions ended in September, and should further support the recovery in Q4.
Panama Economic Growth
Source: https://www.focus-economics.com/countries/panama
The economy should gradually recover in 2021 from this year’s Covid-19-induced contraction, as the easing of restrictions provides room for a rebound in domestic activity and tourism. Potentially weak global trade ensuing from further restrictions abroad clouds the outlook. FocusEconomics Consensus Forecast panelists foresee the economy expanding 6.4% in 2021, which is up 0.6 percentage points from last month’s forecast. For 2022, the economy is seen growing 5.1%.
Panama Economy Data
(source:https://www.focus-economics.com/countries/panama)
KNOWLEDGE BASE
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Generally speaking Panama is a safe country. There are some areas of Panama City, as it happens with almost every bigger city in there world, that might be dangerous for "non locals", but they are probably much safer than similar areas in New York or London.
From banking and insurance to wealth the management and securitie on there financial services the teams serve
From banking and insurance to wealth the management and securitie on there financial services the teams serve
From banking and insurance to wealth the management and securitie on there financial services the teams serve
Yes, you can catch a direct flight from Frankfurt. Madrid, Amsterdam and Paris.
You'll find a lot of information about what to see in Panama on the Internet, but for us the "must see" are Panama Canal, Panama City and Bocal Del Toro Islands.
You'll probably have no problem using your card in Panama, since most of the places accept them, unless you decide to buy "a raspado" on the street.
In Panama you'll find all major hotels brands and the standard is high.
The public transport in Panama in recent years got a huge update. There are 2 metro lines and busses connect the city fairly good now, but we recommend Uber or private service.
We dont recommend walking in Chorrillo Barrio and in Curundu Barrior, but driving a car through those zones is not a problem.
It depends on what you are going to do. If you want to visit places far from Panama City, a rented car may be helpful. If you just stay around Panama City, it is cheaper and easier to use Taxi or Uber than driving in "tropical traffic"
There are a few big shopping centers in Panama City. We recommend Multiplaza Mall for luxury shopping and Albrook Mall for average shopping.
