According to a report of major economic indicators to be released later this month by the Comptroller’s Office, Panama had 462,000 tourist arrivals during the first quarter of 2009, a 6.4% increase over the same period last year. These numbers will come out hot on the heels of a visit President-elect Ricardo Martinelli is currently making to Costa Rica to discuss and find ways to develop a strong tourism alliance between the two countries that could become a brand for both destinations.

A visit that is not only generating plenty of news, but also a very strong indication of how much importance the new president will be putting on new and innovative ideas for the nation’s tourism industry.

It’s good news that President-elect Ricardo Martinelli’s government is putting an early focus on Panama’s tourism industry with a mind to long term thinking and innovation.

And speaking of long term thinking, the U.S. based Hilton Hotels chain has announced that it will build four new hotels in Panama City which are slated to open between 2010 and 2011. The flagship hotel, planned for Balboa Avenue, will include a Las Vegas style casino. No report on if the other three hotels will also include some form of casino area.

The consulting firm Indesa has estimated that Panama’s economy grew by 3% during the first quarter of 2009. Later this month the Comptroller’s Office will release the official numbers. But if these estimates are correct, Panama will continue to have one the highest GDP (gross domestic product) growth rates in the entire Latin American region.

The recent passing of Law 23 relating to titling ROP land on islands and coastal areas combined with Panama’s having one of the highest growth rates in the region, will certainly increase not only the investment potential in Panama, but the speed and intensity of development throughout the country. Another excellent sign that Panama will be a safe haven for investment during these troubling economic times.

According to the IMF (International Monetary Fund), Panama is in a position to be more insulated from the economic crisis that is devastating Latin America and the rest of the world, with the fund forecasting a 0.5% shrinkage in the region, while Panama is forecast to grow by 3% in 2009. This is great news for anyone considering Panama as a place to invest, to retire or even to visit as a tourist. Economic growth is a great predictor of social stability, lower crime and of course, opportunity for investment.

With three property sales this season and now only five titled real estate properties left in our project, I am not suprised by the confidence that the international economic community has in Panama. It is a stable country and is on track to weather this economic storm better than many of it’s neighbours.

If you are looking for a safe harbour in these rough economic times, Panama may just be the port of call you are looking for. Real estate prices have dropped to a more reasonable level in many areas of the country and material and labour costs are still a great value.

According to the Signatures of Foreign Policy and AT Kearny and as reported on CNN Espanol, Panama is now considered to be the most globalized country in Latin America. Panama’s financial services sector has long been on the global radar, as has the Panama Canal and it’s international role in global trade and commerce, but to be considered the most globalized country in the entire region of Latin America, speaks volumes about the advances the country has made in terms of tourism, regional trade and commerce, as well as it’s growing reputation as a place for multinational organizations to headquarter their regional divisions.

All this bodes very well for the future growth and stability of Panama’s economy, it’s commitement to a global presence and certainly to all of us who have invested our future here.

In short, you can’t go wrong with Panama!

Well, it appears folks are still out and about looking for their future, regardless the world’s economic woes - finca buena vida’s residential project of titled land for sale has just welcomed two new neighbours. Lot 1 - Phase Three has been sold, and hot on it’s heels Lot 5 - Phase Two found a new owner only days later. We have grown by one retired American fellow and one youthful Canadian on the fast-track to a slower, simpler life and early retirement. G. will be moving down within months and our Canuck friend sees his ETA as within two years or “when they downsize me” as he put it…

Welcome to the neighbourhood gentlemen!

With all the bad news numbers flying around these days - stock market indices, foreclosures, unemployment, deficits and debt, it’s with great pleasure that I am able to announce some happy numbers.

The 2008 tourism stats for Panama are in and, with a 12.7% increase over 2007, Panama had 1.6 million visitors last year.

No word yet on visitor stats for the first few months of 2009, but there are still plenty of folks filling up the boat tours coming out to our front yard to see the dolphins and occupancy rates in the city are still quite high.

One more reason to consider Panama if you are looking for a place that your investments can ride out the economic tsunami that Allan Greenspan masterminded and George W. helped proliferate…

Coming in second only to Chile in all of Latin America and 58th worldwide, Panama moved up one ranking from last year’s World Economic Forum’s annual competitiveness index.

Evaluated based on property rights, financial markets, infrastructure and macroeconomic stability,the index gave Panama excellent scores. For the first time, Panama beat out Mexico and again this year bested Costa Rica.

Two more huge transnational corporations have chosen Panama as the headquarters of their Latin American operations. The Caterpillar company, as well as Sony Corp. are the latest in a continuing pattern of international corporations viewing Panama as the preferred location for Latin American operations. Panama’s fast growing economy, coupled with the dollar currency, English as a common second language, a very stable social climate and a well educated work force are all factors in understanding why so many corporate giants are choosing Panama as a place to invest.

The huge Panama Canal expansion, along with massive growth in Read the rest of this entry →

We have been hearing more and more that it is becoming nearly impossible to find a room in Panama City hotels and now there is statistical proof of the rumour. Panama City came in second place in the world just behind Perth, Australia for hotel occupancy levels.

Perth took first place with 85.1% occupancy, Panama City second with 84.7% occupancy and Qatar third with 84.5%.

This ranking was compiled from a list of 165 cities with the criteria being that the hotels have over 100 rooms.

And it appears that those rooms are being filled with more and more travellers choosing Panama as a travel destination, with a 36% increase over last year in visitors to Panama in the first 2 months of 2008. Some 542,000 people visited Panama during January and February compared with 500,000 during the same period in 2007.

Regardless of the recession that is overtaking the United States, folks are still actively persuing real estate purchases in the sunny south. We have equalled last season’s real estate and land sales and the residential project here on Dolphin Bay, Bocas del Toro, Panama reached that magic number of 70% sold last week. Phase One is officially sold out with the purchase of the last remaining lot by a young couple from the Northwest US. As well, a young couple from the Southeast US has purchased a lot in Phase Three and a French couple who are already in Bocas fulltime, have purchased Lot 3 in Phase Four.

Big hearty welcomes to all our newest neighbours and thanks for helping us reach the 70% sold mark - It is a testament to the integrity of this project, as well as a definite sign that folks the world over are looking for a different approach to life and some are finding it right here at Finca Buena Vida.