Welcome to the Panama Weekly News Roundup! Here’s the latest.
As Panama grows, so does its reputation for being an “expat paradise”.
Panama has been growing as an expat haven for years, and the present time is no exception. In a recent BBC article, they lay out a few of the basics on what draws expats here, and the process of setting yourself up with work and living situations. It’s a good read, and a good window into the fast-moving pace of Panama expat culture.
Expats are lured by the warm climate, slower pace and the country’s connection with both North and South America. Fast growth has brought a slew of hotels, modern condos and office space, but many companies still lack the human capital necessary for expansion, said Remy Swaab, executive director of Panama’s World Trade Center, where companies including freight forwarder Henco, search firm MRINetwork and law firm Guerra, Sierra & Atie have offices. “There are both opportunities and voids in the market,” he said.
Source: BBC.com
From ocean to ocean, through the Panama Canal
The Panama Canal holds a great reputation for being a powerful, and inspiring travel experience. And sometimes, it’s great to get a look into why. Cruising through the Canal is very popular amongst visitors, and is growing year by year. Here’s a great account of one couple’s journey, and why they fell in love with Panama and all it’s beauty.
On one sunny (and very hot and humid) fall morning, throngs of passengers leaned on deck railings to watch as the ship slowly edged into a series of canal locks lifting it 85 feet (26 meters) above sea level for entry on the Pacific side and lowered it the same amount as it sailed into the Caribbean Sea at late afternoon. Twenty-six million gallons of water can flow into a lock in just eight minutes.
Gravity fills the locks with water from Miraflores and Gatun lakes, which are located on the continental divide between the locks in this 48-mile-wide (77-kilometer) isthmus. Electric locomotives attach cables on both sides of ships to ensure they are centered while slowly motoring on their own power through each lock. Our huge cruise ship had just a few feet to spare on each flank.
“It’s a fantastic experience,” said Ronny Borg, captain of the Norwegian Sun. “I never get tired of it, and I’ve been through the canal maybe 20 times.”
Source: SFGate
Panama Canal Expansion Will Have Big Effect on Energy, Water, and Grain in U.S. and China
The Canal Expansion continues to gain momentum as it’s finishing date gets closer, and many economists predict a global economic flux in certain industries because of it. Specifically the economic boost is heading to China, where some big sectors will be affected upon its completion.
The expansion project’s effects on Panama’s economy and management also are extraordinary. Both the Caribbean and Pacific entrances are swollen with new construction. Proposals for big power generating, fuel storage, logistics, and transport projects in the canal corridor are under review by national authorities.
The canal’s ability to drive economic growth is evident in Panama City, the capital, where an impressive skyline of seaside white towers bloomed in the last decade. The Pacific coast city of 1.5 million people has quickly become a modern maritime hub where jobs are plentiful and employees are needed for almost 100 banks holding over $US 100 billion in assets, hundreds of shipping firms, and busy container terminals.
Source: Circle of Blue
The Cost of Living in Panama in 2015
Measuring the cost of living before you move is a very important aspect of relocating to another country. In Panama, things are moving fast, and the country’s economy is growing at a break-neck pace. That’s why it’s important to keep track of prices, and make sure you get a good gauge of the cost of living regularly. In our latest blog post, we go over some updated numbers for 2015, and tell you what the general cost of living is.
The cost of basic goods and services in Panama tend to be cheaper than North America and Europe, but not by much, and often cheaper than many countries in Latin America. Local produce, grains, dairy and meat will run you about $300 per month to feed about 2 people if you buy domestic products, and $600 if you buy imported.
Many expats tend to lean towards the higher amount, as Panama offers nearly all the grocery comforts of home, if you’re willing to pay for it. Pharmaceuticals are very cheap, even if you don’t have insurance, and cleaning/bathroom products are about on par with the US and Canada.
Read more about cost of living in Panama 2015
