Last week, further good news for Panama’s development emerged – the Panama Canal has hit record-high revenues in 2008.
The 2008 income for the Panama Canal Authority hit a record high of 2.007 billion dollars, with the fiscal year ending September 30, 2008.
According to numbers by the PCA, the numbers for 2008 were up 14% from 2007, which resulted in income of 1.76 billion dollars.
The Panama Canal Authority’s Vice-President of Canal Operation, Manuel Benites, has reported that the organization is doing surprisingly well considering the global fiscal crisis. According to Benites, the Canal reported increases in passenger vessel transits up 17.6%.
Further growth is anticipated due to the increased time required for ships to cross the Canal, which measures 80 kilometers. Current wait time for cargo ships is 31.55 hours, up from 27.84 hours in 2007. The PCA credits the wait time to maintenance on botht he Pedro Mighel and Miraflores locks. On a brighter note – the number of accidents fell from 1.09% to .68% per thousand transits.
Amazing development is occurring in Panama – are you interested in moving or relocating??? Visit our site and our blog as a resource for information about the new growth and prime properties for sale near Panama City!!! Check out www.panama-land-for-sale.com.
Showing posts with label panama growth and development. Show all posts
Showing posts with label panama growth and development. Show all posts
Monday, October 27, 2008
Wednesday, October 15, 2008
Panama Banking is Good for Growth...
Reuters reported this week that Panamanian President, Martin Torrijos, is reporting a strong Panama banking system, amid the current global credit crisis.
Torrijos pledged preparation, responsibility, and management in order to insure that the country stays in a positive financial position. At an appointment ceremony for new Banking Supervisor Olegario Barrelier, an experienced banker.
Barrelier cited that Panama’s liquidity is at 58% of total deposits, with a total of liquid assets at $13.54 billion US dollars. Fortunately, Panama is not reliant on external funding. Advantages are due to the fact that Panama has no sub-prime mortgage market and is aggressively tightening up current credit. The banking environment is now home to over 80 international banks, and is one of the largest banking centers in Latin America including banks like HSBC, Citigroup, and BBVA.
Make your investment here in Panama! It is a great time to relocate or retire in Panama – the US dollar buys a significantly better quality of life. Despite the global financial crisis, Panama’s economy is expected to post a growth of 9.5 percent this year. Make your move – visit www.panama-land-for-sale.com to see our incredible land specials in Panama!
Torrijos pledged preparation, responsibility, and management in order to insure that the country stays in a positive financial position. At an appointment ceremony for new Banking Supervisor Olegario Barrelier, an experienced banker.
Barrelier cited that Panama’s liquidity is at 58% of total deposits, with a total of liquid assets at $13.54 billion US dollars. Fortunately, Panama is not reliant on external funding. Advantages are due to the fact that Panama has no sub-prime mortgage market and is aggressively tightening up current credit. The banking environment is now home to over 80 international banks, and is one of the largest banking centers in Latin America including banks like HSBC, Citigroup, and BBVA.
Make your investment here in Panama! It is a great time to relocate or retire in Panama – the US dollar buys a significantly better quality of life. Despite the global financial crisis, Panama’s economy is expected to post a growth of 9.5 percent this year. Make your move – visit www.panama-land-for-sale.com to see our incredible land specials in Panama!
Monday, September 8, 2008
Panama Tourism Indicates Further Growth and Development
Yesterday, the Sun-Sentinel reported about the growth in Panama taking a bite out of South Florida’s tourism.
This year, Panama’s international tourism was up 30% from last year, having placed hundreds of millions into the city’s hotels. Many are now calling Panama the ‘new Miami’ and the ‘hottest spot for new hotels outside the Middle East’s Dubai’.
Panama’s visitors from South America and the Caribbean have increased, and many are moving to the country as well. Travelers and retirees from the U.S., are drawn to the country due to its use of the dollar and its closeness to Florida (3 hr flight).
The growth will continue as well. The Seminole Tribe’s Hard Rock International has plans for the area. It will be their first Latin American hotel. Other luxury hotels are moving to the area with hopes of luring an upscale crowd to the area.
Nikki Beach Hotels & Resorts, Buddha Bar, and Breezes Resorts are all planning to open hotels in Panama City.
These are very exciting developments, and are due to the local government’s accommodations that are encouraging hotel investment and development. With the expansion of the Canal, the city is planning over 8,000 new hotel rooms.
This is terrific news for those of us who have decided to live and invest in Panama. The growth continues….It’s not too late to get in on the action! Visit our website at www.panama-land-for-sale.com for information on our land investment deals!
This year, Panama’s international tourism was up 30% from last year, having placed hundreds of millions into the city’s hotels. Many are now calling Panama the ‘new Miami’ and the ‘hottest spot for new hotels outside the Middle East’s Dubai’.
Panama’s visitors from South America and the Caribbean have increased, and many are moving to the country as well. Travelers and retirees from the U.S., are drawn to the country due to its use of the dollar and its closeness to Florida (3 hr flight).
The growth will continue as well. The Seminole Tribe’s Hard Rock International has plans for the area. It will be their first Latin American hotel. Other luxury hotels are moving to the area with hopes of luring an upscale crowd to the area.
Nikki Beach Hotels & Resorts, Buddha Bar, and Breezes Resorts are all planning to open hotels in Panama City.
These are very exciting developments, and are due to the local government’s accommodations that are encouraging hotel investment and development. With the expansion of the Canal, the city is planning over 8,000 new hotel rooms.
This is terrific news for those of us who have decided to live and invest in Panama. The growth continues….It’s not too late to get in on the action! Visit our website at www.panama-land-for-sale.com for information on our land investment deals!
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