In the News from Panama

Tourism Dollars Flowing Into Panama

Panama continues to ramp up its tourism promotions, mining what many see as an untapped gold mine for the economy.

Newly released data from Promtur, the Tourism Promotion Fund of Panama, shows the economic impact of tourism continues to grow. In the half of the year, tourism generated $902 million for the Panama increase, a 17% increase from initial projections, the agency reported. By the end of the year, it is estimated tourists will leave $1.8 billion in Panama, according to coverage in La Prensa.

For us, there is also the incalculable value of having visitors from around the world exposed to the beauty of Panama and the potential to live here and invest in property. An increase in tourism always correlates with interest in buying property in Panama, 

The nine top priority markets for Panama tourism — the United States, Colombia, Brazil, Canada, Costa Rica, Argentina, Spain, France, and Germany — all experienced increases in the first half of the year, Promtur general director Fernando Fondevila told the newspaper. The average length of stay for tourists from priority markets increased from 8 to 11 days in the first half of the year, he said.

Fondevila told the paper: “We are progressively generating more demand from our key markets and attracting our priority audience, those travelers whose interests align with the vision of sustainable tourism for Panama and who generate a more significant economic and social impact since they tend to stay longer, carry out more activities and spend more at the destination.”

A new cruise ship terminal on Amador Causeway is also part of that mix. The facility is about to enter its third season and has booked 31 transit calls that are expected to include 25,948 passengers, Seatrade Cruise News reports. Those passengers will spend about $11.5 million in Panama, in addition to introducing the beauty of Panama to a whole new generation of travelers.

Ships are expected from Norwegian Cruise Line, Royal Caribbean International, MSC Cruises, Phoenix Reisen, Princess Cruises, Peace Boat, Swan Hellenic, Viking, ResidenSea, Scenic, Holland America Line, Windstar Cruises, Oceania Cruises, Regent Seven Seas Cruises, Silversea and Seabourn, the trade magazine says.