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Panama issued 67 percent more work permits to foreign nationals in 2015 compared to a year earlier, in a sign that the government continues to welcome people from around the world. The numbers also indicate that international companies are continuing to expand in Panama City, a key driver for property sales and rentals.

According to the Ministry of Labor and Workforce Development, 20,369 permits were issued in 2015, compared to 12,141 in 2014. The permits were issued for a variety of reasons, including marriages and humanitarian reasons, in addition to simply inviting new workers to the country.

No matter the reason, the sharp increase stands in sharp contrast to many countries in the world, which are putting up more barriers to entry. Clearly Panama is continuing an open door policy, which is good news for business. Panama is welcoming international workers and executives, who want to settle in Panama to make a living and, in many cases, settle with their families.

The largest number of work permits was issued to Colombians (28.12 percent), followed by Venezuelans, Spaniards and Nicaraguans, Martes Financiero reports. All these groups are active buyers and renters in Punta Pacifica, as the luxury community tends to reflect the international trends in Panama City.

Duncan McGowan is president of 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.