Bala Beach is located less the 45 minutes from Panama City’s Tocumen International Airport establishing Bala Beach as the closest beachfront community that Panama real estate has to offer.

(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.

This post is tagged under 10 reasons to invest in Bala Beach | beachfront condos | Caribbean beachfront | caribbean home investment | caribbean real estate | Hottest real estate market | panama blog | Panama condos | Panama investment | panama property | Panama Real Estate
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In December of 2008, Royal Caribbean is deploying 2 of its “Enchantment of the Seas” cruise ships from Colon. These ships have the capacity to hold approximately 2500 passengers and 800 seamen. The ship is outfitted with 6 hot tubs, three swimming pools, spa, gym, casino, rock climbing, 11 bars, and anything you could not possibly spare without. The journey will last 8 days and encompass Cartagena & Santa Marta Colombia, Oranjestad Aruba, Willemstad Curacao, Kralendijk Bonaire.

(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

This post is tagged under beachfront condos | caribbean home investment | Caribbean investment | Caribbean oceanfront for sale | caribbean real estate | hottest real estate markets | Panama blogs | Panama condos | Panama investment | panama property | Real estate of Panama
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Adapted from:

“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.

This post is tagged under Add new tag | cheap places to live | economic boom | economic growth | economic value | infrastructure development | invest in panama | investment yields | latin american economy | panama airflights | panama canal | panama economy | Panama Real Estate
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