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In the News from Panama

First Direct Flight From China Due Next Week

By Duncan Mcgowan

The first scheduled Air China flight from Beijing will touch down in Panama next week, Pres. Juan Carlos Varela announced Monday.

The details weren’t spelled out, but the flight will launch twice-a-week serviced from the Chinese capital. The flight will include a two-hour stopover in Houston, El Capital Financiero reports.

The new China-Panama air connection—one of the many developments in the wake of the launch of formal relations between the two countries last June—should launch a new era in travel for Panama.

“China sends more than 170 million tourists to the world and in Panama, we only have 24,000 arriving,” Pres. Varela said in a statement.  “The goal is to bring the figure to 50,000 this 2018 and the goal is 150,000 next year.”

Those are impressive goals and they should have a dramatic impact on both the tourism and real estate markets. If Panama is able to attract 150,000 Chinese visitors in a year, many of those travelers will be businessmen and women looking for investments. And China investors have a well-established reputation for investing in markets where China has strong interests and there is a growing Chinese population.

In recent months, the Chinese and Panama governments have been working out the details, including the designation of Panama as an “approved tourist destination.” Copa Airlines has also announced a code-sharing agreement, which will allow travelers to book flights through Panama to other destinations.

In addition to tourism, China is involved in infrastructure projects and expanded trade deals. Pres. Varela has also confirmed China President Xi Jinping is scheduled to visit Panama later this year.