Welcome to the Panama Weekly News Roundup! Here’s the latest.
Panama City Named Among Top Places to Live and Invest
Living and investing overseas has become popular for many people looking to change their lifestyle or diversify their business interests. And as far as up-and-coming places, Panama City is square in the sites of the international community. In a recent global ranking, Panama scored high marks for lifestyle and investment. Here’s why:
Some key elements that make Panama City desirable for expats and investors include its prime location as a major transportation hub, its increasing prominence on the international banking scene, and the incredible infrastructure improvements it’s undergone over the past few years.
I’m also especially optimistic about the resurgence that’s taking place in some of the poorer areas of the city. With so much development opportunity, it’s an ideal place for the entrepreneurial expat to get a good return on investment while also influencing the future of the area.
Source: PTY Life
Panama Opens International Book Fair
This week, Panama launched its 11th international book fair, and both readers and writers are excited to participate. The event runs now through Sunday, August 23rd at the Atlapa Convention Center.
‘The Book Fair is the most important cultural event in the country and is the fourth largest in America. Its contribution in raising the education level is the engine that will include us in the first world countries list’, said to the reporters Ms. Orit Btesh, President of the Panamanian Chamber of Book.
Meanwhile, the ambassador of Guatemala, Anamaria Dieguez, highlighted how pleased she was of knowing that this way the literature and culture of her country can be appreciated in its proper perspective. The exhibition event is attended by over 60 writers from 16 countries and the program includes 250 artistic, educational, recreational and professional activities.
Source: Prensa Latina
U.S. Travel Agencies Set Sights on Chiriqui Province
Panama’s Chiriqui province is a hidden gem for both domestic and international tourism; but more and more, people are starting to pay attention. Towns like Boquete, Volcan, Boca Chica, and the surrounding areas of David are drawing more tourism than ever, and now, travel agencies want a piece of the action.
Chiriqui travel agencies will have the opportunity to increase the number of U.S. visitors to the province thanks to a strategic agreement made during a meeting in Panama City that took place at beginning of July led by a group of major U.S. tour operators.
The new partnership between representatives of Panama travel agencies and U.S. tour operators promises mutual benefits as both markets are seeking greater cross promotion of products and services offered by both countries.
Source: The Visitor/El Visitante
How Will the Panama Canal Affect Your Offshore Investments in 2016?
The Panama Canal expansion project is in its last year before completion, and that means big potential changes for the Panamanian economy. It also means a great deal to the success and durability of your offshore investments. In our latest blog post, we discuss this, and more about 2016 and how it will affect your bottom line. Here’s a sample:
The most immediate growth you’ll see from the Panama Canal that will affect your offshore investment is in the shipping and logistics sector. New warehouse space, shipping container storage, ground support, and import/export will see a huge spike in demand. This also means that industries that rely on shipping and logistics will see an increase in business as well. This should correlate to big business for pharmaceuticals, machinery, electronics, and other consumer goods. With the new, wider Canal Expansion, you will see supermax ships capable of massive cargo increases, which should nearly double the volume of ships, and ship cargo that passes through daily.
Read more about the Panama Canal affecting your Panama investments.
