Panama Growth to Be Helped by Brits

Ttglive.com, the UK’s travel website, announced this week that Panama expects to double the amount of UK visitors from 2007.

Among the highlights of the article that cite Panamanian growth:

• In 2007, 8,000 Britons visited Panama. Already in 2008, there have been 7,400 visitors.
• Panama’s tourism industry is the country’s #1 industry and has grown by 24% over the past year.
• Tax-free inducements are offered to hotel developers until 2015.
• There are 104 new hotel projects underway.
• Investment in real estate and hotels in Panama is more than in Central America and the Caribbean combined.
• 20% of properties at Nikki Beach have been pre-purchased by Brits.

View the entire article here.

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Panama Lighting Up Due to Growth

Panamanian President, Martin Torrijos announced on Monday plans for “Operation Light Bulb”. The project will involve handing out roughly 6 million energy-saving light bulbs to Panamanian citizens (an average of 2 per citizen).

The purpose of the project is to lessen the increasing demand for electricity in Panama. By switching to the energy-saving bulbs, blackouts can be prevented – which had begun to peak in May with increasing electricity demand.

Due to the developmental and rapid growth in Panama, local energy providers are strained. The country is currently building another 15 energy generation facilities, due by 2012.

The government has purchased $13 million worth of the fluorescent energy-saving bulbs in order to take the strain off of the current electrical providers. The energy-saving bulbs are far more more efficient than their incandescent bulb counterparts. If Panamanian residents would use the bulbs, it could replace the construction of a 60 megawatt power plant that would cost ten times what the energy-saving bulbs are capable of.

Similar energy saving plans have already taken place in Cuba, Venezuela, Europe and Australia to great success. 3 million energy-saving bulbs will be delivered later this month and distributed at no charge to poor areas outside Panama City.

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