“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.

 

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