Direct flights from Canada to Panama ready for takeoff
June 19th :
The Canadian and Panamanian governments formally came to an agreement that will establish the initial framework for direct flights between the two countries. Currently, there exist no direct flights from Canada to Panama and all flights bound for the two countries are routed through the US. Being routed through the US, with its prison type cavity search and long flight layovers, causes headaches and is time consuming for passengers.
Minister Cannon speaking to reports said. “The new agreement will benefit passengers, businesses, air carriers and airports through a greater range of travel options…I am pleased to announce the conclusion of a new air transport agreement with the Republic of Panama, a close bilateral partner of Canada.”
Canadians and Panamanians can now rejoice at the fact that they can now fly directly into each others countries with not first getting routed through 2,3, or even 4 airports and that they can now carry on their valuable 6 oz shampoo and lotion bottles. Probably future direct flights to Tocumen International Airport in Panama City will include; Toronto, Calgary, Vancouver B.C., and other Canadian international hubs.
Furthermore, this trade agreement is very symbolic for both countries.
For Canada, it’s an opportunity to expand its economic presence in the region. According to the article, trade between the two countries totaled $115 million with Canada exporting $86.4 million of their products and services to the Panamanian market. In addition, Canada is looking to strengthen their relationship with Panama because of its strategic transportation location with the Panama Canal.
For Panama, it is a chance to establish itself in the minds of Canadian business, retirees, and tourists. At this time, Canada has direct flights to Latin and Caribbean countries such as Costa Rica and the Dominican Republic thus giving those counties a competitive advantage over Panama. But Panama is striving to become the Dubai of Latin America and sees these direct flights as a means to attract multi-national business to relocate or expand, retirees to live, and tourist to visit.
In the near future, both countries are pursuing a bilateral free trade agreement that will further strength their relation and will create more direct flights.
Link to full article:
http://www.tc.gc.ca/mediaroom/releases/nat/2008/08-h148e.htm
Increased Air Traffic at Panama’s Tocumen International Airport
Adapted from original:
La Prensa Wednesday June 25, 2008
By Roberto Gonzalez Jimenez
Tocumen Registered 18.15% More Passengers Until April
Confirming what most folks in Panama have already noticed, official numbers were released this week that show a significant increase in air traffic in Panama. With international tourism, real estate and business all booming in Panama, it’s no wonder that the Tocumen International Airport is handling more flights and passengers this year than it ever has before.
The number of passengers who used the Tocumen International Airport in Panama between the months of January and April of 2008 grew by 18.15% versus the same time period last year, reported the Tocumen Corporate quarterly report.
Overall there were 423,994 passengers who departed, arrived or made connections to other flights at the airport.
Panama is definitely one of the major – if not the top, maritime hub in all of the Western Hemisphere; but it is also trying to become a regional leader in air traffic as well. With a growing economy, Panama needs to accommodate more international contacts, connections and relations to take advantage of today’s global economy. Panama’s central location makes it a desirable location to do business, but also makes it an ideal spot to organize and redistribute regional air traffic. It would be easy to leave your home, fly directly to Panama, and then transfer onto another flight that will take you to your final destination.
According to the report, the Tocumen terminal has enjoyed the highest rate of air traffic growth in all of Latin America, beating out the regional average of 8.2%
In terms of the general movement of all air travel, including both passenger and cargo planes, traffic increased 14.4% over the first quarter of 2008.
In 2007 3.8 million passengers used the Tocumen airport.
The capacity of the airport will pass from 5 million currently per year up to 10 million once the construction of the northern dock is completed, assured Orcila de Constable, the general manager of the Tocumen International Airport.
With an additional terminal under construction that is set to double the airport’s capacity, Panama and the Tocumen International Airport may soon pass air traffic through the isthmus in a similar fashion to the way boats and cargo ships go in and out of the Canal.
Panama’s real estate and economic boom puts it on the path towards first world status
LA TIMES June 16th.
The LA Times recently wrote an optimistic article about Panama’s economic outlook. The article highlighted a number of different economic steps that Panama is taking to pursue first world status. Among Panama’s economic and real estate projects:
- The expansion of the Panama Canal. “economic activity is only going to intensify starting next year,… the $3.5-billion deal to design and build new canal locks, is awarded.”. The Panama Canal expansion is going to require housing for all the workers and their families. “(the construction company) will need 500 apartments for its employees, housing that will have to be built.”. This has many property holders in Panama excited about the potential pool of upcoming renters and an economy that is ready to take advantage of an influx of foreign dollars that is already on its way.
- Panama’s flock of foreigners: Wealthy Latinos from Venezuela, Colombia, Ecuador, and Bolivia seeking to protect their assests from left-wing governments as well as retirees from the US, Canada, and Europe searching for a cheap place to retire, is transforming Panama into a cultural melting pot that reminds people of Miami 15 years ago.
- Multi-national companies are relocating to Panama and adding jobs. “This month, 3M joined other corporate giants Hewlett-Packard, Sinopec and Singapore Aerospace in announcing that it was opening an operation here… Panama added 51,000 jobs last year, double the number in 2006″.
- Lastly, in Panama a true real estate boom has been taking place turning Panama into the hottest real estate market in the Americas. There is not a place in Panama City where you cannot see construction all around you. “The skyline increasingly resembles a mini-Sao Paulo”. The skyline is constantly adding more and more buildings and the people here say that the Panamanian national bird is a construction crane. Anyone who has toured or spent time in Panama would have to agree.
The article does point out that this economic and real estate boom is causing a few growing pains. Among them are issues regarding sanitation, electricity, and the awful traffic congestion. These are all major problems that the government has to overcome, but these growing pains are to be expected when a country, and more specifically a city, is undergoing the development jolt that Panama is experiencing. However, it is undeniable that the city is pulsating with a certain vibe that looks ahead to the future. We’ll just have to wait and see if it all goes well and Panama City can achieve first world status.
To read the full article:
http://www.latimes.com/news/printedition/asection/la-fg-canal16-2008jun16,0,7847226.story
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