“En octubre se hara el III Foro Nacional de Competitividad,” Monday July 21, 2008, Marianela Palacios Ramsbott, laprensa.com.pa

“150 panameños estudian agronomía en Honduras,” Tuesday August 5, 2008, Roberto Gonzalez Jimenez, laprensa.com.pa

Maintaining one of the highest economic growth rates in all of Latin America over the past five years, Panama is looking to solidify its presence as a regional leader and a worldwide business center. While the current real estate and construction boom is causing great changes to take place in Panama, the majority of this development is rooted in foreign direct investment.

Supporting its position as the home to the Canal, a tax-free haven and the “Bridge of the Americas,” Panama finds itself in a strategic location that makes it a very desirable place to operate any type of international shipping, commercial or service-providing industry. Foreign money is finally tapping into Panama’s positive factors and advantageous natural conditions, but now and forever Panamanians are the ones who must ensure that all of this potential is realized and brought to fruition.

Sponsored by the National Center for Competition (CNC) and the Panamanian Association of Business Executives (Apede) the third annual National Competition Forum will be held in October; an event bringing together leaders from the private sector and the national executive body to strengthen alliances and improve upon the national competitive advantage of Panama.

This year’s meeting will analyze the goals that were set during last year’s forum to determine which challenges have been met and which have some further work still to go. A loan from the Inter-American Development Bank is in place to execute the project “Impulso Panama” which aims to help small and medium sized businesses in Panama to modernize and digitalize their daily operations, making them more competitive in the global workplace.

Besides working with already established businesses, Panama is focused on educating its youth and better preparing them for a wide range of occupational positions in the future. A group of 150 Panamanian students have received government scholarships to study in the Universidad Zamorano in Honduras. The students study the complete facets of animal husbandry, processing and agriculture while in Honduras, but as part of the scholarship they have committed to returning to Panama after their studies are over and promise to develop agriculture-related businesses near their home towns.

Panama’s central location and its famous economic resource of the Panama Canal have helped make it one of the most significant nations in the world in terms of maritime transport and commerce. The Universidad Maritima Internacional de Panama (UMIP) is sending seven of its students and one of its faculty members to the United States to spend a month as an education exchange with the Massachusetts Maritime Academy.

Working with current businesses planning for the future and also concentrating on preparing students for the dynamic work environment that lies ahead, Panama is doing all that it can to address the current economic situation and position itself as a leader always ready to take advantage of new opportunities in the future. For all intents and purposes as a developing world nation thrust into today’s fiercely competitive capitalistic international economy, Panama must compare itself with advanced industrial nations if it hopes to be successful within a truly global arena.

Hopefully the hard work it is undertaking right now will pay off in the future in the form of a capable, competitive and dynamic Panamanian workforce, in addition to sustainable economic growth rates that remain strong with or without a foreign investment boom.

Visit www.balabeach.com and email me at adam@balabeach.com for more information

The Caribbean Sea is possibly the world’s most beautiful body of water. It’s light color sands, lush jungle canopy cover, and its bathwater ocean temperature makes it the ideal setting for the famous Corona commercials. Yet, during a portion of the year the Caribbean is in a state of alert.

During the rainy season the majority of Caribbean beachfront lays within the Hurricane effect areas. Hurricanes cause numerous different emotional and financial headaches for property owners. Emotionally, residents during Hurricane season are continuously monitoring weather reports in fear of having to evacuate their homes. Financially, residents must pay increased insurance premiums and other additional insurance coverage associated with being in a high risk area. In both circumstances, owning a piece of tropical paradise is made a bit harder than it could be.

(affected hurricane areas)

But what if you could own that piece of tropical paradise without fear of a Hurricane? Well, Bala Beach is located on Panama’s Caribbean coast where there is no risk of Hurricanes. As a matter of fact, never in recorded history has a Hurricane struck Panama. Panama is located far enough to the south in which Hurricanes push towards the north making it one of the main deciding factors in favor of building the Canal here.

Bala Beach enjoys the natural beauty of the Caribbean while eliminating the financial and emotional anxieties. This makes Bala Beach affordable and worry free!

Panama podría ser sede de una feria turística de ITB - 3 de Julio 2008, Roberto Gonzalez Jimenez

Turismo mundial creció 5% entre enero y abril - 3 de Julio 2008, Roberto Gonzalez Jimenez www.laprensa.com.pa

The arrival of international tourists grew by 5% between January and April of 2008 according to a recent report by the World Tourism Organization. All regions showed positive results for tourism growth with the highest levels witnessed in the Middle East, Asia and Central and South America.

Panama joined the United States, Cuba, Jamaica, Costa Rica, El Salvador, Chile, Peru and Uruguay as the only countries in the Americas that experienced double digit tourism growth during these first few months of 2008.

Even as the world economy has experienced a slow-down in many important sectors, the World Tourism Organization is confident that this positive growth in international tourism will continue.

Panama’s record economic growth is related in many ways to this international tourism as it continues to attract foreigners who are increasingly coming to Panama to vacation, invest or even retire here.

Most foreigners travelling internationally are looking for a place with an agreeable climate, natural beauty and low prices. Panama offers all of those things and so much more, to the point where foreigners are committing an even larger amount of their time and money to this small, strategically located isthmus.

While commercial and financial incentives are certainly responsible for the surge in economic growth and activity occurring in Panama, the expansion and diversification of the tourism industry has also translated into more foreigners purchasing second homes, making investments and even deciding to retire full-time in Panama rather than in their home country.

Investing in Panama is more popular now than it has ever been before. It is attracting more and more attention as one of the best and cheapest places to retire because of the beautiful natural terrain and weather, easy access to North America and Europe, and the financial incentives offered to investors along a host of other reasons.

With the Panamanian economy booming like never before, the nation is building and growing in order to keep up with an insatiable new demand. Most of this new development is coming in the form of construction, infrastructure and services, and it’s forcing Panama to look for new solutions to accommodate new markets.

Major infrastructure projects are already underway including the Cinta Costera coastal road in Panama City, the new Panama-Colon Highway and the Panama Canal Expansion, but these projects are all located in the vicinity of Panama City and the Canal. Tourism minister Ruben Blades recently spoke on how a new airport is needed in Chiriqui in the western part of Panama in order to link and integrate all parts of the country into the booming tourism economy.

A German tourism company based out of Berlin named ITB is interested in holding its world famous tourism conference in Panama next year when they look to focus on the Caribbean region in 2009. A group of ITB representatives was in Panama earlier this month to review convention centers and infrastructure conditions to see how effectively the nation could host a tourism fair expected to draw nearly 200,000 visitors and presenters.

The ITB representatives had many productive conversations in Panama and left the country pleased with what they saw. Panama’s easy access with direct flights to the US, Europe and Latin America, its dollar based economy and high level of safety and security are just some of the reasons why the investigators left with a very favorable impression of the country and its potential to host such an event.

Already known as an international banking and commercial center with over 90 foreign banks and an outstanding world economic resource in the Panama Canal, Panama’s growing tourism industry only continues to solidify its presence and help it to realize its potential as one of the fastest growing countries in the world. Panama is in many ways a leader in its region and as it continues to develop it is making a name for itself as one of the central hubs of economic activity in the Western Hemisphere.

Find out more about the most promising new development in Panama:

visit the Bala Beach website at www.balabeach.com

]]> http://balabeach.com/balabeachblog/panama-investment-riding-wave-of-increased-tourism/feed/ 0 http://balabeach.com/balabeachblog/10-reasons-to-invest-in-bala-beach-5-we-are-offering-condos-under-99k/ http://balabeach.com/balabeachblog/10-reasons-to-invest-in-bala-beach-5-we-are-offering-condos-under-99k/#comments Thu, 24 Jul 2008 23:42:50 +0000 admin http://balabeach.com/balabeachblog/?p=58 Here at Bala Beach have recognized a problem both in Panama and worldwide for that manner: Why are beachfront homes with ocean views only accessible for the wealthiest among us?

Typical beachfront developments that include an ocean view range in price from $300K well into the millions. These are beautiful developments that overlook the tropical oceans of Panama. However, these developments are priced out of range to a sizable majority of potential residents looking for a place on the beach either in Panama or elsewhere in the Caribbean. The units that are affordable are second tier units without ocean views or are set off of the beach.

Buying affordable beachfront condos with ocean views doesn’t have to be this way. People can have a world class beachfront community with all the amenities and ocean views for an affordable price. Bala Beach delivers beachfront for under $99K! A full 60% of the units offered are under $150K and even the 2 story penthouse lofts with rooftop terraces are priced in the low $300k.

Nay-sayers will protest “Well Bala Beach has to cut back on the amenities to sell at that price.” Not true. Bala Beach is raising the bar for standard amenities here in Panama and this is how:

Floor to ceiling glass windows with views instead of only small viewing windows.

Open American style kitchens and floor plans instead of closed-in Latin style.

Large balconies overlooking the Caribbean instead of cherry picker sized ones.

Hardwood flooring instead of tile flooring.

Natural stone countertops instead of Formica.

Basin style sinks instead of sunk steel sinks.

2 story world class health and wellness center with onsite nutritionist, personal trainers, machine and free weights, yoga and other exercise classes instead of unused condos with a couple of medicine balls.

Our philosophy is to get people from around the world onto the Caribbean for an affordable price. This philosophy does not only try to serve a high minded purpose, it has a business practicality component to it as well.

We know from market research what the average John and Jane Doe getting off the tarmac are able and willing to spend. These people want to live or have a second home/rental property on the beach but do not want sell a member of their family to afford it. With our prices now and even after the forecasted property appreciation, we will offer affordable units to 80% of the John and Jane Does of the world.

To the Panama and/or real estate investor, you are able to buy into a development, receive property appreciation, and still be able to resell or rent to the masses thus vastly increasing your number of potential customers. Where as having a million dollar unit, you have a lot of property appreciation on paper, but you have a very small market of people to sell for.

Bala Beach has brought beachfront back.

($1Billion investment going to Panama’s Caribbean coast)

This surge of capital being poured into the coastline stretching from Maria Chiquita to Isla Grande stems from the government’s efforts to spice up the once sleepy Caribbean getaway. The Panamanian government has enacted two major initiatives that are attracting both Panamanian and foreigners alike.

One of the main components fueling this is the new Panama – Colon Highway. This highway is going to uncover this whole area to weekenders and tourists. Currently, the drive is more than an hour and a half and is extremely frustrating for commuters. However, with the completion of the next highway coming in less than 9 months (April 2009), this commute is going to be dramatically reduced to 45 minutes.

The second part of the government initiative is to reclassify the entire region from Maria Chiquita to Isla Grande as a tourist zone. As a result, investors, developers, and entrepreneurs have been given the proper financial incentives in the form of tax breaks and other measures to encourage the commitment of their capital.

The combination of a much reduced commute and rezoning has resulted in approximately $1 billion dollars being poured into the area. There are residential developers from Spain, Holland, and other countries building at least 4 new developments that will have the capacity to host more than 20,000 residents and tourists annually, which is 5 times the current capacity.

(Beachfront cafes and resturants)

What does this mean for Bala Beach?

In addition to the millions of dollars we are spending to develop our tropical beachfront community, the area is seeing hundreds of millions more in other residential, commercial, and entertainment ventures. In Bala Beach, you have the opportunity to invest in a place that is on the cusp, with the combination of infrastructure and financial fundamentals to create something unique.

In addition to the $1 billion dollars of initial investment, the second wave of investment is coming down the road. These later changes will be in the form of commercial strips, beachfront restaurants and cafes, tour companies and sailing expeditions, and other secondary entrepreneurs who will round out the community.

(Sailing expeditions)

Bala Beach and the incoming investment around it, is not a “someday it will happen” pipedream that never comes to fruition. On the contrary, the construction of the highway has commenced and the rezoning has already taken place, making this investment not a matter of “if,” but “when?”

(Tocumen International Airport)

What does this mean for the Panama Investor or a person just looking to live or retire in Panama?

Well first off, Panama’s fastest growing and most sustainable sector of the economy is tourism. Every year hundred of thousands of tourists make Panama their vacation destination and this number is increasing rapidly. A solid number of these tourists are searching for a tropical place to stay that is located close enough to the Panama City, so that they can drop into the city and see the sights and then bounce back to their beachfront rental. Thus, Bala Beach is best suited to satisfy this desire because of its 45 minute proximity to Panama City.

Panama is consistently ranked internationally as the best and cheapest place to retire in the world because it offers residents such a great value. With 13,000 baby boomers from the US retiring daily and even more internationally, this demographic is sizeable and will continue to grow. Similar to the vacationers, retirees are seeking a place that is out of the traffic congested streets of Panama City for a more laidback lifestyle. However, retirees want to be close to Panama City to conveniently drop into the city a couple times a week or month. They do not want to drive 2 plus hours or pay the high prices to fly there.

(Tropical living at Bala Beach)

Furthermore, retirees want to be located close to the Panama’s best medical facilities, most specifically the John Hopkins center in Punta Pacific. John Hopkins medical center is one of the biggest, if not the top selling point that retiring in Panama has to offer. Once again, being 2 plus hours or an expensive flight away is not ideal or desirable for timely medical services.

(Bala Beach is the closest beachfront community to John Hopkins medical center)

Before investing you must understand some of the deciding factors for people you are going to rent out or sell to. As I have explained above, being the closest beachfront community in all of Panama, Bala Beach is able to satisfy the location desires of both vacationers and retirees in Panama.

(Royal Caribbean coming to Colon)

Royal Caribbean is beginning to switch their point of embarkation more and more to cruise liners to Colon, Panama for two main reasons.

First, Colon has a strategic location. 1. Colon has a deep enough water port able to accommodate a cruise ship the size of the “Enchantment of the Sea”. 2. Colon is situated on the Panama Canal, as a result, cruise ships have the possibility of traveling to both the Caribbean and the Pacific. 3. Colon is right next to the up-and-coming tourist destination of Colombia. Colombia is quickly shedding its violent reputation and places on the Caribbean like Cartagena and Santa Marta are becoming international destinations.

Second, Royal Caribbean is attempting to expand its business operations into the rapidly expanding middle classes of Brazil, Argentina, Chile, Peru, Colombia, etc… These Latin American countries represent the best opportunity to diversify out of the recession affected economy of the United States. But persuading Latinos to depart from Florida which requires a visa to enter is not an easy task. Panamalaw.org article offers great insight into the complications for a Latin citizen trying to obtain a US tourist visa.

“The visa process involves waking up early in the morning to go stand online at the USA Embassy waiting to go in for an interview. Numerous documents are required, reasons for the trip, why you are not a risk for overstaying the visa etc. There are fees involved, which are about $165 a person. Many people do not wish to go through this process. Many others are willing to go through the process but are unable to get the visa for various reasons. “

(long lines at US embassies)

These overburdensome requirements turn a vast majority of Latinos off from cruises. In addition to the difficulties acquiring a US visa, Latin American citizens do not want to endure the 10 plus flight to the north of Florida to take a trip to the southern Caribbean.

What does this mean for Bala Beach community? It will offer our Caribbean beachfront community some direct benefits:

First, 2500 passengers four times a month will be passing by Colon. Colon is not the most attractive of Panamanian cities and people will be looking for accommodations before their ship departs the following day. Bala Beach is less than 20 minutes from Royal Caribbean’s terminal and we are the closest beachfront community and hotel. Therefore, Bala Beach has the potential pool of 10,000 vacationers monthly seeking accommodations close to the Colon departure and a place to stay on their way back.

(beaches around Portobello)

In addition to wanting a place to stay, a large portion of these vacationers will be introduced for the first time to Panama’s beautiful and scenic Caribbean coast. In both cases, Bala Beach beachfront community is going to have direct exposure… Thanks to Royal Caribbean!!!

http://www.panamalaw.org/cruise_port_colon.html

“Actividad económica crece 9.48%” Diego Quijano of La Prensa, laprensa.com.pa

Wednesday, June 25, 2008

And

“Panama pierde liderazgo en crecimiento de AL” Marianela Palacios Ramsbott, laprensa.com.pa

Thursday, July 3, 2008

Economic Activity Grows by 9.48%

Panama closed 2007 with the highest economic growth rate in all of Latin America after registering an historic record of 11.2%. Now well into 2008, new information shows that the Panamanian economy continues to perform and expand at a high level.

While many parts of the world are experiencing job losses and economic stagnation, Panama’s economy is creating jobs and growing. The Index of Monthly Economic Activity (IMAE) in Panama registered an increase of 9.48% for the month of April 2008 compared to the same period last year. The overall increase in economic activity for the first four months of 2008 was 8.01%

The report published yesterday explained that the growth was witnessed in many different economic sectors including, construction, mining, hotel and restaurant services, transportation, warehousing, communications, real estate, and other public and private services without getting into many further details.

With positive growth taking place in a wide range of economic areas, Panama looks to develop further each year and utilize resources such as the Canal to solidify itself as an economic leader in the region.

Even though it maintained a strong economic growth rate of 8.4% during the first trimester of 2008, Panama lost its first place ranking in the region to Uruguay with growth of 11% and Peru at 9.2% according to official statistics. The economy of Argentina expanded at the same rate as that of Panama during the first three months of 2008.

These four countries rank far ahead of the Latin American average and some of the strongest economies in the region including Mexico (2.6%), Chile (3%), Brazil (5.8%) and Venezuela (4.8).

Even though Panama has fallen off from last year’s record numbers, the country continues to diversify, develop and expand. With many large scale infrastructure projects currently under works including the Panama-Colon Highway, the Panama City Cinta Costera coastal road and of course the expansion of the Panama Canal, the Panamanian government is confidently looking toward the future and understands the huge economic potential that exists within this small country.

As infrastructure and opportunities develop, market inefficiencies start to diminish and profit margins begin to increase. With Panama’s advantageous position at the center of the Americas and its world famous resource in the Panama Canal, the country is becoming every day more attractive as a strategic location to do international business. Panama is perfectly positioned to take on a greater role and significance within the new global economy.

]]> http://balabeach.com/balabeachblog/panamas-economystill-growing/feed/ 0 http://balabeach.com/balabeachblog/10-reasons-to-invest-in-bala-beach-1-panama-to-colon-highway/ http://balabeach.com/balabeachblog/10-reasons-to-invest-in-bala-beach-1-panama-to-colon-highway/#comments Wed, 09 Jul 2008 20:37:23 +0000 admin http://balabeach.com/balabeachblog/?p=36 I have compiled a 10 point list of why the Investor in Panama, or an individual just looking to have a high return on their money, should buy at Bala Beach. Bala Beach community has a number of unique features that sets itself from any other project here in Panama and here is why:

1. The new highway from Panama City to Colon.

Currently, Panama is constructing a new 4 lane highway from Panama City to Colon that will drastically reduce the commute to Bala Beach from 1 hour and 15 minutes to 45 minutes. This is not a just a slab of asphalt with 4 lines painted on it, the new highway will be a first world, center divided, with a state-of-the-art drainage system and will be complete April 2009.

Panama City-Colon Highway on youtube

What does this mean for Bala Beach? Well, if you were to look at property values worldwide you would notice that property values located in areas with a high quality infrastructure are worth A LOT more money, typically 2-10 times more. This trend is especially more pronounced in developing world countries because of the shortage of high quality infrastructure or infrastructure at all.

(usual developing world infrastructure)

To the Panama investor, there are a lot of articles and sales people touting their projects as located on the most beautiful beaches, in the most authentic towns, having the best views of the mountains or ocean, coolest climate, cleanest air etc… These are all great reasons and we all have an assortment of them because Panama is so well endowed with beautiful landscape and vibrant culture. However, when it comes to being less than 45 minutes away from Tocumen International Airport, no other project has it.

To reach these other projects, visitor and residents have two exhausting options to choice from. First, get in a car or bus from the Airport for another 2-10 hours. Second, wait in Tocumen to take another plane to a regional airport and take another car ride to the area. These might not sound appealing to someone who had just got off international flight.

With Bala Beach, these inconveniences do not exist. The new Colon-Panama City highway will make our beachfront community the closest such community that Panama Real Estate has to offer. Bala Beach will be 45 minutes from Panama City and International Airport. If the global trend continues pertaining to real estate values with high quality infrastructure, when the new highway is complete Bala Beach units will have gained and continue to gain a significant amount of property appreciation.

These infrastructure and location factors are one of the 10 reasons that Bala Beach community stands apart from any other residential project in Panama today. People who invest in Bala Beach are going to be making a very profitable decision.