• 1 404 382 0398
  • 507 320 4310
  • +507 6909-6781
  • lisa@panamaequity.com
  • English
    • Español
  • Start Here
  • Panama Properties
    • For Sale
    • For Rent
    • List Your Property
    • Panama City Building Directory
    • Panama City Pre-Construction Listings
  • About Us
    • Blog & Guides
      • Panama Guides
      • News & Insights
    • List Your Property
    • Property Management in Panama
  • Join Our Team
  • Contact Us
Menu
  • Start Here
  • Panama Properties
    • For Sale
    • For Rent
    • List Your Property
    • Panama City Building Directory
    • Panama City Pre-Construction Listings
  • About Us
    • Blog & Guides
      • Panama Guides
      • News & Insights
    • List Your Property
    • Property Management in Panama
  • Join Our Team
  • Contact Us
  • About
  • Buy
  • Rent
  • Sell
  • Guides
  • Property Management
  • News & Insights
  • Join Our Team
  • Contact
Menu
  • About
  • Buy
  • Rent
  • Sell
  • Guides
  • Property Management
  • News & Insights
  • Join Our Team
  • Contact
  + 011 507 320 4310
1 404 382 0398
  • English
    • Español
San Carlos Ocean Front Condo For Sale
Investment Property Ocean Front Condo In San Carlos
  • Start Here
  • Panama Properties
    • For Sale
    • For Rent
    • List Your Property
    • Panama City Building Directory
    • Panama City Pre-Construction Listings
  • About Us
    • Blog & Guides
      • Panama Guides
      • News & Insights
    • List Your Property
    • Property Management in Panama
  • Join Our Team
  • Contact
  • My Account
Menu
  • Start Here
  • Panama Properties
    • For Sale
    • For Rent
    • List Your Property
    • Panama City Building Directory
    • Panama City Pre-Construction Listings
  • About Us
    • Blog & Guides
      • Panama Guides
      • News & Insights
    • List Your Property
    • Property Management in Panama
  • Join Our Team
  • Contact
  • My Account
  • English
    • Español (Spanish)
  • 1 404 382 0398
  • 507 320 4310
  • +507 6909 6781
  • lisa@panamaequity.com
Panama Economic and Business Update

Panama Economic and Business Update

By

Kent Davis

Posted in Blog, Economy, Exploring & Living in Panama On July 12, 2012

The Spanish Are Coming!
Economic and Business Update
From our July 2012 Newsletter

A sagging European economy combined with Panama’s six year growth trend have led a number of large and medium sized Spanish companies to enter the local Panamanian economy.  Citing the various business opportunities available in Panama. Construction giant SACYR forms a part of the consortium that won the contract for the design and construction of the third set of locks in the Panamanian Canal expansion project and the group Fomento de Construciones will play a major role in another massive project,  the Metro.  These two projects combined are worth over $5B and have certainly gotten the attention of local businesses back in Spain.

Other industries that have seen an increased Spanish presence in Panama include the water treatment, renewable energy, and telecom sectors.

With all this growth, Panama’s first quarter GDP surged to 10.6%, led in part by a robust mining sector along with strong local demand at both the retail and wholesale levels.  According to the Capital Financiero article published on June 25, 2012, strong across the board numbers were reported in the telecom industry, tourism, and agricultural production.  The mining sector was up by over 278% from last year fueled by local construction demand for sand and stone along with strong gold exports and mine expansion.  Experts expect the final year-end GDP to be somewhere around 6% although government administration figures are pointing to a number closer to 9%.  Canal tonnage is also up by over 20% compared to last year along combined with a gain of 7.5% in the wholesale goods sector.

While tourism continues to show gains in the number of visitors to Panama, hotel occupancy is down for the year due mostly to a surge in recent hotel openings and thus an increase in the availability of of hotel rooms.  Expect hotel room prices in the city to trend downward in the short term as hotels are forced to stay competitive.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Search
Generic filters

Categories

Featured Properties

Featured
Nuovo Panama Bella Vista condo for rent
View Property

Luxury Living In Nuovo By Armani/Casa: Furnished Corner Condo For Rent

This furnished corner condo for rent is an excellent property…

Bedrooms
2
Bathrooms
3
Area
100 m2
For Rent

$2,100

Featured
Rivage Panama Avenida Balboa condo for rent
View Property

Beautiful Furnished Condo for Rent in Avenida Balboa

Breath-taking views and comfort in this mid-floor condo located on…

Bedrooms
2
Bathrooms
2
Area
176 m2
For Rent

$2,300

Featured
View Property

Incredible Views From Every Angle In This Avenida Balboa Condo for rent in PH Destiny

This recently renovated condo for rent in P.H Destiny Tower…

Bedrooms
1
Bathrooms
1.5
Area
95 m2
Rented

$1,350

Contact Us

EDIFICIO SORTIS, OFICINA 20TH FLOOR OBARRIO, PANAMA
OFFICE: +507 320-4310
USA DIRECT: +1-404-382-0398
  • About
  • For Rent
  • Panama Guides
  • News & Insights
  • Contact
Menu
  • About
  • For Rent
  • Panama Guides
  • News & Insights
  • Contact
  • For Sale
  • List Your Property
  • Panama City Building Directory
  • Best Places in Panama
  • Property Management
Menu
  • For Sale
  • List Your Property
  • Panama City Building Directory
  • Best Places in Panama
  • Property Management
Facebook Twitter Instagram Linkedin Youtube
Send Email
  • English
    • Español (Spanish)
  • Account
  • Blog Posts
  • Pre-Construction
  • Join Our Team
  • Privacy Policy
Menu
  • Account
  • Blog Posts
  • Pre-Construction
  • Join Our Team
  • Privacy Policy
Copyright © 2023 Panama Equity. All Rights Reserved.