“Recortes de Continental no afectarán a Panamá,” Friday August 1, 2008, Roberto Gonzalez Jimenez, laprensa.com.pa

“Turismo al día, Copa anuncia nuevos destinos y Tocumen licita el muelle norte,” Thursday August 7, 2008, Roberto Gonzalez Jimenez, laprensa.com.pa

                                                                        

 

More Flights Over Panamanian Skies

 

With all of the economic hardship making the news these days, airline companies have stood out as some of the hardest hit. Many air carriers are trying to survive any way that they can by laying off workers, adding new fees for passengers and by cutting back on flights.

 

Continental Airlines announced in June that it would be firing 3,000 employees and eliminating its least profitable flights. They have already begun to reduce their activity in Colombia, Ecuador, Mexico, Chile and the Dominican Republic.

 

Panama however does not appear on this list. Continental Airlines manager in Panama Ana Lorena Arroyo says that the airline is actually adding the capacity for more passengers to its Panama flights by bringing in an airplane that seats 25 more people. Nor will the US-based company be dropping any of the 90 employees that it currently has working in on the ground in Panama.

 

While Continental reinforces its commitment to Panama, many other airlines are also strengthening their presence in the isthmus. The Amsterdam based KLM Airlines used to fly once a week directly to San Jose, Costa Rica. Observing changes in market opportunities, the company decided to shift this flight to Panama instead. The KLM non-stop Amsterdam – Panama flight was initially offered only once per week but as occupancy improved, KLM has now decided to operate the route five times per week.

 

Direct flights between Panama and Toronto are currently operating every Sunday and more flight options between Canada and Panama are expected to come as we approach the tourism high season in the coming months.

 

Panama-based Copa Airlines is expanding from Panama outward, opening new connections with Valencia, Venezuela; Oranjestad, Aruba; and Santa Cruz, Bolivia starting in December. Copa is also adding six new airplanes to its fleet bringing it up to 43 airplanes in total.

 

In order to accommodate all of the new activity, Panama’s Tocumen International Airport is proceeding with plans to add a new northern terminal by 2010. This expansion will effectively double the overall passenger capacity at the airport which has seen a 22.1% increase in passenger activity in the first semester of this year versus the same time period in 2007.

 

Panama continues to be an increasingly popular place to visit and major airline companies worldwide are responding. Even in today’s times of economic hardship, Panama is a location receiving lots of attention from all over the world, primed for consistent development and growth.

 

When thinking about where to retire, residents from all over the world, younger and older, have a new exciting option for international living and for the cheapest place to retire. Panama offers a unique opportunity for affordable living with and active and exciting lifestyle.

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.

This past week marked another milestone for the Bala Beach Resort in Maria Chiquita, Panama as heavy equipment began operations to install primary infrastructure on site. Before any individual buildings can be constructed initial water and electric channels must be completed. The access road is already in place and fully functional since June, allowing for trucks and bulldozers to enter onto the beachfront and start with the new task at hand.

A new full time construction workforce will be a common sight alongside this small section of Panama’s Caribbean coast, joining the team who had already been regularly cleaning and maintaining the sandy beach. New changes are already evident as small sections of land are being cleared in order to prepare for the storage of the construction materials. The heavy machinery is beginning to open up pathways which will allow for the drilling of freshwater wells to provide clean drinking water for the resort. Other operators and equipment are starting to mark and dig out new spaces to put in electric and natural gas lines.

The dramatic change in the landscape of this small Caribbean fishing village is just now beginning to take form. After making many trips to the Bala Beach site without seeing any heavy work being done, it was hard to imagine how this raw piece of land would be transformed into the foundation for a large residential development composed of an orchestra of multiple concrete structures. But now with just a little bit of deisel powered action taking place, Bala Beach is taking its first steps toward its final goal.

It is an exciting time to be in Panama and especially exciting if you are in any way following or involved with the progress at Bala Beach. Development and opportunity are on the horizon, and the coming months will start this project on its way to becoming a reality. Almost all of the work still remains ahead of us, but from these first days forward, it will be easier and easier to imagine a new life in Maria Chiquita and at Bala Beach.

To see more visit www.balabeach.com

(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

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.