While the rest of the Western World is trying to figure things out, Panama is soaring high above the turmoil and experiencing growth and prosperity. It has been estimated that Panama’s economic growth will exceed 2010 by 2% bringing it to an estimated 9% growth in 2011.
Panama is still holding strong as far as a country that can not only offer a low cost of living, but its cultural diversity and its natural and industrial environment still finds it in the top 5 places to retire in the world for the last 5 years running. It has been predicted that Panama will pass its South American counter parts those being Chile and Peru who are right now considered to be the leaders south of the US border. Much of the success is owed to the increase in tourism that Panama has experienced in the last 3 years. Direct flights being offered by Copa, Spirt Airlines and the Canadian direct flight charters have made Panama and easy destination for the winter escapees from North America. Other airlines are now looking to get into the action as Europe began their direct flights from Madrid and Frankfurt, Emirates and Qantas are now placing their bids to find a parking spot at Tocumen, Panama’s national airport.
Panama Pacifico the New City, which is a 40 year project involving 20 000 homes and a community offering parks, restaurants and schools is just another reason as to why Panama is #1 on the radar for investors. A host of new hotels, free tourist medical insurance, solid infrastructure and a diverse cultural nation, a refined quality of life are some of the things that are putting Panama on the map for people all over the world. Panama is the breath of fresh air for many Europeans and North Americans that are currently watching their future turn grey. Panama is becoming a house hold word and is definitely the Shangri-la for investors all over the world.