Panama is known to be the isthmus that connects North America to South American mainly because of its prime location. Not only does it connect two lands, it has the Panama Canal which aids in the import and export sectors of the world. Among the nine provinces of the Republic, the province of Panama City contains half of the total population of the Country. With high population density, the presence and expansion of the Panama Canal, and overall positive economic conditions, Panama City has become one of the main business and convention destinations in the Latin America and Caribbean marketplaces.
Panama is a special place where the affability of the people, the multiculturalism and the tradition as hosts of a population of different origins, combine into a winning formula. New buildings are transforming and modernizing the capital while the interior of the country lives an accelerated development, with millionaire tourist investments and a significant improvement of the services.
Panama City is known as the 'business heart of Central America' and the International Banking Center of Panama is one of the largest in the world, with more than 80 banks from around 35 countries. The city is also Panama's political and administrative center, and many government offices are nearby. The city's major avenues all converge near the WTC building, which are just a 15 minute straight drive from Tocumen International Airport.
Furthermore, Panama has one of the most versatile and complete aerial hubs of America with the local company, Copa, allied to United Airlines.
Tourism and Investment:
Panama has become one of the destinies preferred by tourists and investors. In the last years, thousands of North Americans, Venezuelans and Colombians have transferred their residence and many of their investments to Panama, attracted by the legal and fiscal incentives and by the beauty and tranquility of the country. Two oceans, thousands of islands, an imposing central cordillera, natural life refugees, whale refuges and a passage of millions of birds in their migrations.
The government of Panama has set up a number of attractive programs and special zones in order to attract foreign investors to its shores.
One of the economic attractions of Panama is the Colon Free Zone, the second biggest free zone in the world, where a little more than two thousand companies that re-export to all Latin America, operate.
The Panama Canal, where about 5% of all the world trade passes, is one of the most important economic engines of the country and of the Western hemisphere. The broadening of the inter-oceanic passage, with a foreseen investment of 5.200 million dollars, generates new business opportunities and dynamizes very diverse sectors. The Panama-Colon axis also has the interoceanic train.
The public and private investments (including those of the Canal) in the transportation, logistic and energy sectors add up to 35.000 million dollars, a guarantee of consolidation for an economy that grows an average of 6.5%.