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Analysis

Trade centre ambitions: Leveraging global trade for domestic economic development
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Ever since the country wrested control of the Panama Canal in 1999, economic development has taken on several new dimensions including the rapid growth of the logistics sector. The country’s location at the epicentre of trade in the region, growing presence as a hub for logistics and trade, relatively small size and influential financial sector have in fact paved the way for some to associate economic…

Analysis

Underground works: The first phase of the new metro system is set to be ready in 2014
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Home to around one-quarter of the country’s population of 3.8m, Panama City, the capital, has been facing aggravating traffic congestion for some time. Strong economic growth has resulted in increased automobile purchases, domestic migrations from rural areas and a steady flow of international tourists and businessmen – all of which add pressure to the city’s transportation network. Phase One…

Overview

An entire country to build: Infrastructure and residential development lead the upsurge in sector activity
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One of the country’s most representative sectors, construction has been a major driver of GDP growth over the past decade. While crucial public infrastructure works are leading this surge, the private sector is also playing a significant role through residential and commercial developments, all contributing to exceptionally low unemployment figures. Following the general trend of the economy, construction…

Overview

Centre stage: Two decades of peaceful democratic transfers of power have allowed for further economic development
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For millions of years the Isthmus of Panama has been the bridge adjoining the Americas, shaping the development of life on the continent. Its importance has been magnified in recent centuries, as it is also the shortest land route for maritime goods crossing from the Atlantic to the Pacific and vice-versa. As a result, the isthmus has played a vital role in dispersing native cultures and tribes in…

Overview

Investment roll-out: Expansion and upgrades under way to keep up with growing demand
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Rapid economic growth in recent years has not left Panama’s energy sector unscathed. According to figures from Empresa de Transmisión Eléctrica (ETESA), the national electricity transmission company, demand for power will grow at around 7.5% per year until 2016 while annual averages of 5.6% are expected in the 10 years after that. Managing the balance between demand and supply, therefore, is a…

Overview

Maturing steadily: Working to keep up with current technological trends
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The information and communications technology (ICT) sector plays an essential role in efforts to consolidate the diversified services sector. While the population may not be as sizeable as those of other economies in the region, the high adoption rate of new technologies has attracted players from around the world looking to tap into Panama’s voice and data segments. According to the National Public…

Overview

Growing significance: The government’s efforts to boost the tourism sector are paying off
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The stable economic and political progress that followed the country’s return to democracy in 1989 has had a lasting impact on the development of the tourism sector. After planting the seeds of growth throughout the 1990s, the tourism sector has experienced rapid development in the first decade of the new millennium alongside broader economic growth. Panama City and the Panama Canal remain the country’s…

Overview

Setting a new course: A look at the profound effects of expanding a key component of economic growth
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The Isthmus of Panama has been used to transport goods from the Atlantic to the Pacific and vice versa for centuries. In modern times its role in facilitating international trade has been taken to new heights thanks to one of mankind’s greatest engineering feats: the Panama Canal. The canal handles around 3% of global maritime trade, including about 10% of US international sea trade, according to…

Overview

On the up: Public investment continues to drive one of Latin America’s fastest-growing economies
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Panama has leveraged its geostrategic position as the crossroads between the Americas throughout history, particularly over the past 15 years. Since 1999 – when the country finally gained control of the Panama Canal – economic progress has been all but unstoppable, with an average GDP growth of 6.8% from 2000 to 2012, according to data from the World Bank, and double-digit growth for four of the…

Overview

Helping hands: The growing middle class is expected to sustain growth
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Popular among North American and European retirees, the Panamanian real estate market consists of much more than beachfront property. As with construction, the sector is experiencing a boom supported by real demand and increased purchasing power among the local population. While prices are slightly on the rise in both residential and commercial segments, indicators suggest that the market is cooling…