The economy in Panama is booming like it never has before, with the government reporting growth at an average of around 8.5 per cent each year when many other world economies have slipped into recession or are reporting minimal growth. There are many reasons that the economy is booming and that more and more multinational companies are choosing to do business in Panama.
One of the things that has been attracting international investors to the country is that the banking system there is strong and has not suffered any of the collapses that have been seen in some other Latin countries in the recent past as well as in North America and European countries too.
Another reason that many companies are also coming to the country is that the canal is being expanded and the vast amount of resources and personnel that are required to make that happen and continue on schedule means that there are huge business opportunities for many global companies. In fact, the current expansions are larger than the original canal project back in the early twentieth century.
For big trading companies it is important to realize that the country has the world's largest merchant navy and fleet and they are likely to be getting even bigger in the near future with the expansion of the canal. In addition to this, the country is the second largest free trade area behind Hong Kong. In the Americas it easily takes the region's crown.
A further point to take into account when looking at why investment in the country is booming is that behind Hong Kong it is the largest free trade zone in the world. It also has the largest merchant navy and fleet internationally. There are also plans afoot to build five international airports in the country to facilitate the current demand and all for more flights to land and take off all the time.
Aside from the structure and benefits that the national government is putting into place, there are geographical benefits to placing business headquarters in the country. It bridges north and south America, which means that businesses that are operational in both regions will have better access to their businesses on the ground and be able to monitor the operations of their businesses more closely and reduce costs. The country is not an earthquake prone zone and nor does it tend to suffer hurricanes or other natural disasters that are prevalent in South America or the Caribbean.
The booming economy and growing standard of living present in the country are compelling reasons in themselves to center your business operations in the country. But on top of this, it is a pleasant place to live with low population, stunning forests and beaches to be visited and quick access to many international locations.
The economy has been growing at an impressive rate thanks to the work of the national government to take full advantage of the natural benefits the country has and the position that it can place itself on an international scale. With more and more multinational companies choosing to open up in Panama, it is likely that we will see the economy continue to grow well into the future.
One of the things that has been attracting international investors to the country is that the banking system there is strong and has not suffered any of the collapses that have been seen in some other Latin countries in the recent past as well as in North America and European countries too.
Another reason that many companies are also coming to the country is that the canal is being expanded and the vast amount of resources and personnel that are required to make that happen and continue on schedule means that there are huge business opportunities for many global companies. In fact, the current expansions are larger than the original canal project back in the early twentieth century.
For big trading companies it is important to realize that the country has the world's largest merchant navy and fleet and they are likely to be getting even bigger in the near future with the expansion of the canal. In addition to this, the country is the second largest free trade area behind Hong Kong. In the Americas it easily takes the region's crown.
A further point to take into account when looking at why investment in the country is booming is that behind Hong Kong it is the largest free trade zone in the world. It also has the largest merchant navy and fleet internationally. There are also plans afoot to build five international airports in the country to facilitate the current demand and all for more flights to land and take off all the time.
Aside from the structure and benefits that the national government is putting into place, there are geographical benefits to placing business headquarters in the country. It bridges north and south America, which means that businesses that are operational in both regions will have better access to their businesses on the ground and be able to monitor the operations of their businesses more closely and reduce costs. The country is not an earthquake prone zone and nor does it tend to suffer hurricanes or other natural disasters that are prevalent in South America or the Caribbean.
The booming economy and growing standard of living present in the country are compelling reasons in themselves to center your business operations in the country. But on top of this, it is a pleasant place to live with low population, stunning forests and beaches to be visited and quick access to many international locations.
The economy has been growing at an impressive rate thanks to the work of the national government to take full advantage of the natural benefits the country has and the position that it can place itself on an international scale. With more and more multinational companies choosing to open up in Panama, it is likely that we will see the economy continue to grow well into the future.
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