Why Invest in Panama Today?
projected GDP growth for 2019
Dynamic, strong and stable economy..
2019 Panama Economic Facts & Figures
- The International Monetary Fund predicts slower GDP growth in the US—2.5%; Europe—1.6%; Canada 1.9%
- Panama's GDP growth rate rebounding with a predicted growth of 6.3% for 2019
- “Despite slowing in 2018, Panama is expected to remain among the most dynamic economies in the region with strong fundamentals.” (IMF)
- Hotel occupancy in January rose 9.3% and Average Daily Rate rose 17.2% to $110.89
- "Panama's economy remains among the most dynamic and stable in Latin America.” (IMF)
Construction Keeps Driving the Economy
Large scale construction and infrastructure projects will continue to drive Panama’s strong economy for many years to come. Some of these projects include:
- New Canal Bridge: the work on a 4th bridge over the canal, connecting Panama City and the interior of the country, has already started. This bridge will ease traffic in and around Panama Cit and will also accommodate the third line of the metro; pedestrian and cycling paths.
- Cobre Copper Mine: the world’s largest copper mine started operation in Panama in January 2019. The mine, a $10 billion investment by Canadian firm, is projected to create more economic growth than the Panama Canal.
- Amador Causeway Cruise Terminal: this $165 million cruise port is scheduled to open in 2019. It will have a berthing capacity for two cruise liners with the ability to accommodate five of the world’s largest ships. It will increase daily tourism and Panama’s reputation as a top tourist destination.
- Tocumen International Airport Expansion: the new terminal has already begun test operations and will be fully operational by the end of the year. It will increase passenger capacity to over 18 million by 2022. Panama continues to be one of the busiest airports in Latin America with more than 80 direct flights to 36 countries.
- Amador Causeway Convention Centre: This $193 million project with 624,000 square feet of exhibit space will have the ability to accommodate up to 25,000 convention goers daily.
- Panama City's Metro Expansion: Line one is operational with 180,000 riders daily, and line two opening soon. A further of 4 lines will be constructed.