Panama's Economy

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A Country on the Rise

Panama City’s skyline has transformed itself in the past decade. Lined with new financial and condo towers and upscale hotels that reminds you more of Singapore or Miami than a Latin American hub…Panama is becoming the new economic dynamo of the Western Hemisphere. Much of the boom has been due to tremendous investment in the country from both multinational companies and private investment.  Thanks to the country’s political stability, dollarized economy, lower cost of living, retirement and real estate tax incentives and developed healthcare and financial industries, the GDP will once again be over over 6% this year.  It also happened to rank as the #1 happiest place on earth according to a recent Gallup poll.

But Panama is not a common reference point for the allure of Caribbean islands such as Turks and Caicos, St. Thomas, St. Lucia or Antigua.  But investors in these traditional Caribbean destinations should consider the less known islands of Bocas del Toro, Panama. The favorite stopping point of Colombus, as he named the islands after himself, and touted by international publications, these hidden beaches here are framed by majestic tropical forest frequented by capuchin monkeys and sea turtles. Plus, it is only thirty miles from the border of Costa Rica.

Savvy sailors and Mega Yacht owners have known about this destination for years. Because these islands lie beneath the Caribbean’s hurricane belt, they are a natural stop over for those transiting the Panama Canal.  Owners and crews alike enjoy the resort amenities and vibrant nightlife. The island archipelago of Bocas del Toro IS part of the Caribbean and it has the added benefit of being part of that economic dynamo that is the country of Panama.

The Red Frog Beach Island Community lies adjacent to the Bastimentos National Marine park (with its protected rainforest and coral reefs). It is a place where people travel by boat around unique ecosystems. What makes the resort setting so extraordinary is its proximity to natural amenities; from untouched coral reefs to acres of botanical gardens and mangrove ecosystems with towering mountain ranges seen in the distance.  Bocas del Toro is truly a nature lovers dream that feels undiscovered and unexplored.