We’re all breathing a sigh of relief here in Panama. Yesterday ended a strike at both ends of the Panama Canal – due to workers walking out on strike. Thankfully, for all parties involved, it did not disrupt shipping on our vital waterway.
Crane operators and harbor towage workers in Balboa and Cristobal walked out in the morning, but have now resolved a dispute with the government concerning wages.
Because the dispute was settled amicably, our economy and the expansion work will not be hindered. The Panama Canal is responsible for roughly 5% of global shipping, and is about 1/5 of Panama’s total economy.
The Cristobal port, on the Atlantic side, handles mostly container ships. The Balboa port, on the Pacific side, is one of the largest ports in Latin America.
Our economy in Panama is booming, and so is the housing market. Are you thinking of relocating or retiring in Panama? Visit our blog and our website for all of the latest information on Panama, our development, and land specials! Go to www.panama-land-for-sale.com for more information.
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