The Republic of Panama is the southernmost nation in North America. Panama boasts an abundance of wilderness and natural beauty complemented by a rising economy, fuelled by rapidly growing service and tourism industries.
One of Panama’s most distinct features is the mountain range that divides the continent. This mountain range undergoes three name changes: in the northwest, it is the Cordillera de Talamanca, then it turns intoSerrania de Tabasar, and finally, it becomes the Sierra de Veraguas when it approaches the Panama Canal.
North-western and north-eastern Panama offer a wealth of white sand beaches: Surfers will truly get stoked in Bocas del Toro. There’s cool hillside life in Boquete. Those seeking heritage experiences will be impressed at the number of indigenous tribes all over Panama. And the country has a large pristine rainforest.
Panama’s service industries, especially banking, are on the rise, as well as manufacturing, shipping, and tourism. Trade is a major contributor to the economy, largely due to the Free Trade Zone. The export of coffee and other agricultural produce also boosts Panama’s GDP.
Panama in practice adopted the US dollar at independence (by fixing its currency, the balboa, at parity to the US dollar).
Panama’s economy grew by a robust 6.2% in 2014, after real GDP growth rates of 8.4% in 2013, 10.8% in 2012, 10.9% in 2011, 7.5% in 2010, and 3.9% in 2009, according to the International Monetary Fund (IMF). The economy is expected to expand by 6% this year and by another 6.3% in 2016.
Tourist numbers have risen by 83% over the last five years, according to Panama America. In 2014, the total number of tourist arrivals rose by 4.7% to 2.3 million people from a year earlier, according to the Panama Tourism Authority. Of the total, 48% came from South America, 24.3% from North America, 12.7% from Central America, and 2.5% from the Antilles.
Likewise, tourism revenues increased 5.5% to US$3.23 billion in 2014.
Properties in Panama
Coronado is considered the epicenter of beach living in Panama, so it’s no doubt that this developer chose to put their project in this popular Panama beach community. There are plenty of models to choose from in this development, including duplex style homes along with apartments varying in size up to just over 3,500 square feet.
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Limited number of exclusive oceanfront lots for sale in Panama on the Azuero Peninsula. Forming part of the Andromeda project on Panama’s Pacific Coast, just outside the colonial town of Pedasi, these spectacular lots enjoy beachfront location on Panama’s stunning Azuero Peninsula. The unique location – 20 mins away from Isla Iguana, a diving and fishing destination, and a 45 min flight from Panama City
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Located on Avenida Balboa and Calle 53, in the heart of the financial center of Panama City, Hotel Las Americas Golden Tower Panama offers exclusivity and comfort in an architectural and avant-garde interior design, created by renowned architect Carlos Ott in a 30-story luxury tower. 285 rooms and suites with the best views of Panama City; with Gourmet restaurant on the 29th floor,
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