Building the New Panama Canal

Panama is a diverse nation of more than 3 million persons representing every nationality. This remarkable diversity in its citizenry is matched by the many facets of its economy.

In the 90’s, Panamanian officials began to notice that increasingly large ships exceeding the width able to pass through the canal (PanaMax Class) were beginning to appear in increasing numbers. In response to this challenge, the Panamanian government announced a canal expansion in 2006 to insure that Panama would not be unseated from its role as the best maritime shortcut from the Atlantic to the Pacific.

The expansion announcement boosted Panamanian GDP nearly 2 percentage points in 2006. In the years since, Panama’s rate of economic growth is ranked as the fastest growing in Central America and the Caribbean, and among the fastest growing on the planet.

The canal expansion is also a big boost to subordinate industries like logistics, exports, free zones, and ports. The Colón Free Zone is already recognized as the second largest in the world. If management at Hong Kong’s Hutchison Whampoa has its way, Balboa will soon be the largest port in Latin America. In addition, two new passenger terminals are now serving the rapidly growing cruise and yachting industries.

As Panama’s economy grows, prospects for real estate ownership in country improve as well. Investments in Panamanian real estate continue to outperform any in the region. As a chilly wind blows through real estate markets world wide, Panama’s warmth and red hot economy, continue to keep real estate here warm and cozy.
Real estate is a long term investment. A predictable economic future for your host nation is essential. Panama is a superstar in this capacity. Its super diverse economy stands alone at the top of it region insuring a safe haven for investors for many years to come.

If you are interested in investing in Panama, gaining residency here, doing your offshore banking in Panama, starting a business, meeting the right people, or finding the ideal retirement location on the beach contact one of our Panama experts today.

Email us at The Panama Club for discrete answers to any questions you may have about Panama.

+507-836-6542 / 43 (Panama) | 1-(305)-503-9957 (USA)