Page 22 - Panama Review

Final Thoughts
Regardless of the circumstances that brought us to Panama, we had a wonderful time
and a very pleasurable experience. The Panamanian people are some of the friendliest
(and prettiest) people I have ever met. The city appears to be growing, evidenced by all
of the construction that is taking place. I would really like to see what this city is like
in five years. I would also like to explore the outskirts of Panama City as the potential
for investment or as living as an expatriate. As a tourist destination, Panama City has
a lot to offer with its rich multiculturalism, beaches, high-rise hotels, and eateries.
However, I must admit, the poorer sections of the city took me aback. As we headed
to some of the excursions in and around the city, the worn and dilapidated high-rise
apartment tenements with laundry strewn out across open windows left a painstaking
and indelible impression on me that I still cannot get out of my head. That is
something the hotel and vacation websites do not mention. I was not prepared for
that. Just remember, for all intent and purposes, although Panama is amongst Central
America’s most thriving economies, the average GDP per Capita is only $13,700
compared to the United States GDP per Capita of $52,194.90 (Trading Economics/World
Bank -2016). According to Forbes,
“Panama's dollar-based economy rests primarily on a well-developed services
sector that accounts for more than three-quarters of GDP. Services include
operating the Panama Canal, logistics, banking, the Colon Free Trade Zone,
insurance, container ports, flagship registry, and tourism and Panama is a
center for offshore banking. Panama's transportation and logistics services
sectors, along with infrastructure development projects, have boosted economic
growth; however, public debt surpassed $37 billion in 2016 because of
excessive government spending and public works projects.”
https://www.forbes.com/places/panama/
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