Welcome to the Panama Weekly News Roundup! Here’s the latest.
The Panama Papers? Here’s The Real Panama Story
With all of the controversy surrounding the #PanamaPapers data leak, the country’s image has taken a bit of a hit. However, Panama is so much more than this scandal, and global economists are very aware of it. Here’s a great take from Forbes.
Contrary to global headlines, Panama is no sleazy money-laundering backwater. Quite the opposite. Panama City is becoming the financial center of Latin America, with scores of global and Latin-American financial institutions having a sizable presence there. The country has made considerable progress in transparency.
The multi-government Financial Action Task Force on money laundering removed Panama from its gray list this year. In 2012 it was taken off the OECD’s blacklist of tax havens. Panama is implementing other reforms, such as doing away with anonymous shareholder certificates, and expects to be in compliance with OECD transparency standards by 2018.
Source: Forbes
The new Panama Canal is opening soon and will cause an ‘evolution’ in a vital US industry
With the Canal getting set to open this year, many ports and port cities are preparing for an increased volume in trade business. But there is one industry that this expansion could really help propel to the next level, and in many cases, save. That is the railroad industry in the United States.
The increased capacity could have profound effects on the US transportation industry, as the cost of shipping from Asia to ports in the eastern US would drop significantly. Simply put, bigger ships are more economically efficient and have lower per-unit costs.
Larger ships and lower costs meant importers traditionally chose to bring in goods from Asia at West Coast ports and then to the eastern US by rail.
But if the canal’s increased capacity lowers shipping costs to the East Coast by enough, it could mean a sizable loss of freight volume over time for western American railroads, Nerijus Poskus, an expert on international shipping at the booking company Flexport, told Business Insider.
Source: Business Insider
10 Things To Do In Panama That Will Make You Feel Just Like A Local
Want to enjoy your stay or permanent relocation in Panama? It helps if you learn to live and enjoy Panama like a local. Here are ten fun things to do that will help make you feel just like a local here in Panama.
4. The shopping game is strong in the free zone.
The free zone is part holding area for goods on their way to Latin America and the Caribbean via the Panama Canal and part mega strip mall at mega-appealing prices. If you’d rather save your Balboas for a few cold ones on the roof of your hostel, browsing the city’s array of storefronts is stimulating enough. Don’t have Balboas? Panama also accepts US dollars.
5. The Guna Yala people are a case study in kindness.
The indigenous folks who call the San Blas Islands their home are a friendly and good-humored bunch. They are proud of their little speck of paradise. Their tropical mound is, quite literally, an island.
Source: Elite Daily
What to Look For When Buying or Renting Real Estate in Panama
If you’re planning on moving to Panama in the near future, you’ve already thought of whether to buy, or rent property when you get here. When it comes to finding the best real estate fit for you, there are many factors at play. Here’s a snipped from our latest blog on what to look for when buying or renting real estate in Panama. Enjoy!
Finding what area to live in is as important as the property you choose
Panama is a small country, but there are a lot of areas that appeal to expats to relocate to. This is a positive for you and your family. If you’re a big city person in your home country, chances are, you’ll like living in a big city in Panama. As far as this goes, Panama City is your best bet. There really are no other major cities in Panama, and even the 2nd and 3rd largest cities (Colon, David) are not quite up to the cosmopolitan or logistical standards that Panama City is.
Continue reading about what to look for when buying or renting real estate in Panama.
