ECONOMIC GROWTH IN PANAMA
Panama is home to the fastest-growing economy in the Americas. Almost overnight Panama City has changed from a Casablanca-on-the-Pacific to a slice of Manhattan transplanted to the tropics.
Today Panama, one of the major shipping ports in the world, has a population of over 3 million people, of which half live in the thriving metropolis of Panama City. Due to its importance to global commerce, it is a shoppers’ paradise. World-class medical care is readily available here at greatly reduced prices and an abundance of restaurants represent almost every country and ethnicity in the world.
THE PANAMA CANAL
The country’s most important man-made attraction is without a doubt the world-famous Panama Canal, which is considered one of the architectural marvels of the 20th century. The Canal’s spectacular construction goes through the interior of the rainforest, joining the Atlantic with the Pacific Ocean through the artificial Gatún Lake. The fascinating crossing of huge container vessels and cruise liners, and their elevation and descent in the locks, transform the Canal into a highly interesting attraction for nationals and visitors alike. At this present time the canal is being doubled in width to accommodate super tankers.
- The Government continues to prioritize projects that improve quality of life for Panamanians
- Investments are made without resorting to new borrowing
- Continuity and the creation of social programs promoted in this administration has resulted in over 100 thousand Panamanians escaping poverty
- Panama meets the golden rule of any successful hub: location, location, location. Shipping remains a crucial industry and multinationals, such as Procter & Gamble, SAB Miller, and the UN have made Panama their regional base.
- There are no tedious visa restrictions, as in Miami. Five submarine-optic cables also pass through the country. Copa, the well-managed local airline, is meanwhile so busy it alone accounts for 4 per cent of Gross Domestic Product.
DEVELOPMENT IN THE PEARL ISLANDS
The Pearl Island Archipelago sits in shallow Pacific waters off the coast of Panama and is made up of a few hundred islands, mostly uninhabited and pristine with refreshing sea breezes and an abundance of bird and marine life.
CONTADORA ISLAND – GATEWAY TO THE PEARL ISLAND ARCHIPELAGO
Contadora is nestled in sparkling clear turquoise waters in the Gulf of Panama within 15 minutes by daily plane and 1 and a quarter hour by daily ferry from Panama City.
Due to the close proximity to Panama City and the ease of access in the 1960’s and 70’s Contadora became “the island” for the international jet set and a weekend getaway for the Panama elite, with construction of high-end residences.
Once a favorite among Hollywood elite such as the likes of John Wayne, Elizabeth Taylor, and the Shah of Iran, wealthy Panamanian families have kept vacation homes on Contadora for decades.
Contadora is the most developed island in the Pearl Island Archipelago with a medical clinic, police force, restaurants, gas station, excellent runway serviced by local airlines, hotels, Bed and Breakfasts, and three mini markets. Today the island is fringed with many second homes of some of the wealthiest and most powerful families of Panama and a small group of expatriates from USA, UK, Germany, Italy, Argentina, Spain and Venezuela.
Isla San Jose
Isla San José is a large private island in Panama’s Pearl Islands. The second-largest island in the archipelago, Isla San José is 55 miles from the coast of Panama and perfectly private.
The island features picturesque rocky cliffs and is framed by white-sand beaches and crystal-clear water. With over fifty beaches to choose from and an abundance of marine life, Isla San José is the perfect destination for scuba on primeval reefs, snorkeling, and deep-sea fishing.
There is an extensive trail system that runs through the forests and provides excellent opportunities to view the local wildlife such as anteaters, iguanas, parrots, reptiles, deer and peccaries.
Don’t be fooled by Isla San José remote and private location, as the island boasts over 50 miles (80 km) of roads, an airstrip and a water purification plant.
Isla San José has one private resort, Hacienda del Mar, which is a luxury eco-fishing lodge which features charming air-conditioned beachside bungalows with terraces overlooking the Pacific Ocean on Isla San Jose’s south coast.
A few miles north of Isla Del Rey is the island of Viveros, featuring Mara’naa, a twelve room boutique hotel. There is also a Jack Nicklaus Signature Golf course on the island in which guests can enjoy ocean views from 15 of the 18 holes.
Mara’naa boasts a full service state-of-the-art marina and is a short 90 minutes journey from one of the world’s most famous fishing areas, the Pinas Bay.
The Pearl Island Development on Pedro Gonzales Island
On Pedro Gonzales island the Pearl Island is now home to a Ritz Carlton Residences flag and a low-impact and low-intensity community designed by world-renowned New York architecture and master planning firm Hart Howerton.
The Saboga Island Paradise Development
Set on Isla Saboga’s meandering western coastline, El Encanto Bay, which literally translates to ‘the Enchanted Bay’, features a collection of luxury two and three Bedroom villas that are nestled among the spectacular coastline of the Saboga Island paradise resort.