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Panama

Panama, a small but very stable country, achieved the region's highest growth rate in 2015, with Gross Domestic Product (GDP) expanding 6.0% in 2015. Economic growth has been driven by its open and diversified economy, its strategic geographical position, and its robust dollarized financial sector that shows very low inflation of 0.2%. Trade and tourism are very strong, even though hotel occupancy rates have decreased in 2016 after a large surge in hotel room stock. 

Over the past few years, retail preferences shifted from main streets to malls. Shopping centers and strip mall space in Panama City amount to more than 1,300,000 sq. m., and the Colon Free Zone (an emporium for wholesalers) provides an additional 6,000,000 sq. m. of showrooms and warehouses.  Class A retail construction in Panama City continues to be active in 2016, with the ongoing development of a high-end shopping center in Costa del Este.  

The highest growth retail categories are currently car sales, food/beverages/tobacco, and apparel.

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Currency

Panamanian Balboa (PAB)
EUR €0.81
USD $1
GBP £0.71

Language

Spanish
Hello: Hola
Thank you: Gracias

International Dialing Code

+507

Time Zone

GMT -5

Cost of a Pair of Jeans

85.00 PAB

Cost of a Cup of Coffee

3.00 PAB

Cities in Panama

Contact Us

Ramón Roux
Plaza Credicorp Bank, Calle 50 No. 120, Ste 502,
Ciudad de PanamÃ
+50 7 210 1675 | ramon.roux@cbre.com