The Panamanian Institute of Tourism was created in 1962 during the Presidency of Ernesto De La Guardia.  Since it’s founding the institute has had 19 people in charge including the current Minister Ruben Blades.

The purpose for which the Panamanian Institute of Tourism was created was in order to increase tourism in the country and give follow up to the inherent activities of such task. The Panamanian Institute of Tourism has among its functions: to promote, coordinate, facilitate and develop everything related to the tourism activity.  The Panamanian Institute of Tourism also promotes the increase of the income and the continuance of visitors in the country.

The mission of the Panamanian Institute of Tourism is to define objectives, unify criteria and execute actions destined to positioning Panama as a preferred destination.  The Panamanian Institute of Tourism has as a goal to provide a diversity of attractions, within a frame of security and with a high level of quality that provides visitors with tranquility and the desire to return.  The Panamanian Institute of Tourism works diligently to change this country into a Top Notch Institution regarding the subject of providing services in the business world.

The task of reinforcement and promotion of the image of this country performed by the Panamanian Institute of Tourism has contributed to the growth of the tourism activity. Statistics of the Panamanian Institute of Tourism indicate that the tourism activity is one of the most generators of foreign exchange, above the banana exportations and shrimp.  Official figures of the Panamanian Institute of Tourism reveal that in 2006 the tourism activities reached about 1,445.5 million dollars in concept of foreign exchange.