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The height of the economy of Panama has extended the borders; an example of this is that the IMF estimated Panama’s economy will increase to a rate of 6.5% between the years 2007 and 2010. Politicians like the Mexicos former president Vicente Fox have emphasized the importance of a Panamas success as it relates to the Republics latin neighbors.
This remarkable strength of Panama’s economy has stimulated foreign investors to make tours towards Panama, among them, the members of the Spanish Confederation of Enterprise Organizations. During this visit, Jesus Banegas, president of the Commission of International Relations of this association, emphasized the "magnificent conjuncture of development and growth" that the national economy has at the moment.
In Banegas’ opinion the main attraction of the economy of Panama is the good quality of their institutions, their adequate regulatory marks and the foreseeable norms that govern the industrial activity. He additionally expressed that the Spanish industrialists wish to initiate businesses in key areas of the economy of Panama linked to the infrastructures, telecommunications and tourism.
Banegas’ opinion regarding the attractiveness of the Panamanian economy coincides with the expressed by Pedro Mejía, Secretary of Commerce and Tourism of Spain, who not only emphasized the "enormous potential of development" that the expansion of the Panama Canal offers, but also expressed that the main currency generator in Panama’s economy is tourism. And with the continued real estate growth expected this will only further the tourism trade in the years ahead.
These points of view on the strengths of Panama’s economy are reiterated in the official statistics which indicate that the tourism sector will create, approximately, 15,439 jobs during 2007, and investments will reach 1,735,000.00 dollars, aspects that without a doubt will fortify the growth of the Panamanian economy. These numbers sustain that tourism activity is an important factor in the height of the economy and social development of Panama.
In order to ensure the fortification of the national economy of Panama through tourism, the authorities are consulting at a national level to elaborate a Master Plan for Tourism 2007-2020. This strategy will serve to obtain an effective tool that allows tourism, one of the motors of the economy of Panama, to continue generating dividends that consolidate Panama’s economy.
For information on available real estate in Panama please contact us directly at Inter Panama Real Estate Agency.
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