Panama Tourism Numbers Encouraging for Overall Growth

The Panama Post reported last week that more than 1.6 million tourists visited Panama in 2008. All-in-all, Panama is well-positioned for an overall increase in tourism, regardless the global economic crisis…..

There were over 1.6 million tourists that entered the country through a variety of entry points to the country. According to the Tourism Authority of Panama (ATP), over 1.02 million visitors flew through Tocumen International Airport in Panama City, over 110,000 people entered Panama through the Costa Rican border, Paso Canoa, and the seaports accounted for over 235,000 visitors. Carl Fredrik Nordstrom, the ATP’s assistant administrator, claims “Tocumen displays exciting numbers. Through this airport we receive the kind of tourist who usually desires hotels, restaurants and tours”. Overall, there has been a 21% growth rate in tourism, based on entry and exit forms processed by the National Directorate of Immigration and Naturalization and the Comptroller General of the Republic (over 175,000 more visitors than in 2007). The tourism numbers have been supported by the Royal Caribbean port in Colon for the Enchantment of the Seas ship, and from the added destinations to Panama City by Copa Airlines.

The President of the Panamanian Association of Hotels (APATEL), Jorge Loaiza, has indicated that hotel growth can be attributed to advertising initiatives, as well as efforts by the government and the business communities. Hotels reported occupancy rates of 80% with rates of 68% in the metro Panama City area.

Panama is strongly positioned in tourism and its current economy. Currently, tourism contributes over $2 million to the economy. Within the past year, the ATP processed over $2.5 billion in new hotel investments and still sees a need for more and better hotels. The organization has stated that even if only half of the projects are completed, the country will still be in a good position. The Latin American market has been consistent and is expected to weather the economic meltdown.

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