Sections adapted from:

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

This post is tagged under beachfront condos | best place to retire | best place to vacation | caribbean beaches | caribbean clearwater | caribbean condos | Caribbean investment | caribbean tourism | cheap places to vacation | clearwater beach | international investment | international tourism | oceanview condos | Panama investment
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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.

This post is tagged under 10 reasons to invest in Bala Beach | beachfront condos | Caribbean investment | Caribbean oceanfront | caribbean real estate | hottest real estate markets | oceanviews condos | Panama investment | Panama Real Estate
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There was a very intriguing article translated by Panama Guide’s Don Winner about the $1 billion dollar investment over the next 5 years being injected along Colon’s Caribbean coast. Developers, tour operators, restaurants, and other enterprises are among the list of businesses investing money into the Caribbean coastline.

($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?”

This post is tagged under 10 reasons to invest in Bala Beach | caribbean home investment | Caribbean investment | Caribbean oceanfront for sale | caribbean real estate | hottest real estate markets | Panama blogs | Panama condos | Panama investment | panama property | Panama Real Estate | Real estate in Panama
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