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After years of disputes and false starts, Panama is finally getting serious about developing its tourism industry. Several recent moves show the government starting to put real money and organization behind marketing Panama’s many attributes, which represents a vast, relatively untapped goldmine for the country.

Traditionally, Costa Rica has led the regional tourism industry, in terms of number of tourists and international awareness. And that led to a boom in second-home purchases and new development.

There is no reason Panama can’t rival and surpass Costa Rica. Certainly, we have all the attributes to attract visitors from around the world—from the beautiful mountains of Boquete and spectacular islands to lush jungles and wide beaches. In many ways, the roster of destinations in Panama is the best in Latin America, with the inclusion of Panama City, which offers the type of urban, old city environment that can’t be found anywhere else in the region.

The only thing missing in Panama has been a concerted, focused effort to promote Panama to the world. For years, the hotel industry has complained about the lack of support, even as they invested millions in the country.

Clearly, that lackluster focus on promotion is about to change. The government recently approved a new international tourism fund that will focus on promoting Panama around the globe. Most importantly, the move created a consistent funding mechanism and organization, ensuring that the promotion will continue every year—and the money will be there to support it.

The fund is only one several moves that make it clear the government is serious about developing Panama’s tourism infrastructure. More than $300 million has been committed to the Amador Causeway, which offers a spectacular island setting only minutes from downtown Panama City. Improvements include new recreational facilities, improved roads and a modern cruise ship facility, which should add value to the entire causeway, including the popular Naos Harbour Island development.

Eddie Montes is the head of Property Management for Punta Pacifica Realty, a Panama real estate agency focused on Punta Pacifica, the exclusive neighborhood of 18 towers perched on the edge of the Pacific Ocean.