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downtown Panama City

By Elsie Forbes
Have you been yet? Panama Q Magazine has been writing about the boom for years and it is happening even more so today. Just about everything is on the up-tick from real estate to favorable pricing to the welcoming arms of the Panamanian people.

When the global economy began sliding in 2007, Panama was one of the few places that held its own and continues to prosper. The key sign in any society is how healthy the middle class is, and here it is growing and strong. Because of that, and a government that favors growth, encourages tourism and foreign residents, Panama is reigning as one of the top destinations in the world. President Ricardo Martinelli has worked hard and accomplished so much in improving the quality of life for all, from native Panamanians to businesses to investors to expatriates. Public transportation is evolving from the ‘Red Devil’ buses to newer, cleaner ones, improving the ride, the appearance and the air itself. And of course, the major investment in enlarging the size and capacity of the Panama Canal has brought tremendous revenues, resources and new residents stimulating the economy even further than anyone could have imagined.

red devil bus

International businesses have flocked to this market. Retailers such as Porsche, Mercedes Benz, Hummer, BMW, Toyota and other automotive manufacturers are doing extremely well here. The luxury market is also making a big play here. You can find the finest shops in the world making their home in Panama City. Shops such as Cartier, Bulgari, Ermenegildo Zegna, Hugo Boss, Nike to name a few, fill the Multi Plaza Mall in Punta Pacifica. Not everything is high-end merchandise; there is a wonderful mix of the extremely affordable goods as well. If you are looking for bargains, they are everywhere, in small shops or Conway Department stores.

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swiss metals


 

Copyright© 2011, Pan Am Publishing S.A., Republic of Panama