Almost everyone agrees that Latin America is one of the main investor hot spots for the coming decade and Panama is extremely well placed to take advantage of this investor interest. This is an absolutely ideal time to invest in Panama as prices are still low.
Panama offers visitors two distinctive personalities: on the one hand a modern vibrant city - Panama City - the financial heart of Central America, a banking metropolis, with modern skyscrapers, good night life and great shopping. Yet just on your doorstep you can find pristine beaches, spectacular mountains, first-class fishing and great water sport facilities, with the added thrill of two oceans to choose from.
The climate is wonderful, boasting consistently high temperatures throughout the year.
Political and economic stability
Panama City is one of the most modern urban centres in Latin America and is home to around 150 banks from all over the world. Panama is known as the financial heart of Latin America and, as such, ranks as one of the most important banking centres globally. As a result of the incredible Panama Canal, the country also commands enormous strategic importance. In addition to this pivotal role within Latin America, Panama also benefits from the lowest inflation rate, highest income per capita and lowest cost of living in the area and hence, undeniably the most stable economy in Latin America.
The Panamanian economy is based on a large service sector (about 75% of GDP) and it has experienced substantial growth in the past few years. This service sector derives much of its income from the Panama Canal, Colon free trade zone, financial services and ship registry. Industry contributes 18% of GDP (construction, cement, sugar refining). Agriculture employs 20% of the work force and accounts for 7% of GDP. Main trading partners are USA, Costa Rica, Netherlands, Antilles, the EU, Japan and the other Central/South American countries.
Stable Currency
The national currency (technically the “Balboa”), is matched on a 1:1 basis with the US$, and for all but minor transactions, the US$ is normally used. Naturally, being allied with the world’s foremost currency has its benefits, and the net result has been monetary and price stability almost unique in emerging markets.
Low Interest Rates
Panamanian banks tend to set interest rates roughly in line with US rates which should mean rates are relatively low and stable for most of the time. Now could hardly be a better time to look for property in this City of surprises.
Plenty to do for people of all ages
Panama offers an abundance of opportunity for the visitor. World-class shopping, eating out, sport fishing and some of the finest golf courses in Central and South America.
For those of a more adventurous disposition, then there’s wildlife watching in the rain-forest as well as excellent diving opportunities. If you’re looking for great beaches then look no further than the islands of Panama Bay; amongst the finest beaches on the planet.
