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It is refreshing to hear that Panama’s Master Plan for Tourism will let Panama remain Panama while at the same developing tourism throughout the country. Andres Castro, speaking for the new Panama Tourism Authority, has stated that Panama does not want to become another “Cancun.” The Panama Tourism Authority wants to keep the flavor of Panama while developing sites throughout the country.

Mr. Castro was not disputing the success of Cancun but rather the impression that Cancun could be any warm beach resort as progressive development has taken away some of Cancun’s Mexican flavor.

Panama Tourism Authority

The Panama Tourism Authority is a new agency of the Panama government charged with developing tourism. This task involves first of all cataloging tourism opportunities in Panama. Then the Panama Tourism Authority wants to develop tourism throughout Panama. Finally the Panama Tourism Authority wants to bring the tourists closer to tourism locations in Panama’s interior and coastal areas.

Much of Panama tourism is centered on cruises through the Panama Canal and visits to Panama City. Although locations like the highlands of Chiriqui and Bocas del Toro and reachable from Panama City’s Tocumen International Airport the transfers take time and often require an overnight stay in Panama City.

Besides cataloging and facilitating tourism development the Panama Tourism Authority intends to facilitate the building of an international hub airport in the middle of Panama. This airport would allow tourists to arrive in a central location and transfer immediately after customs to a connecting flight to their final destination.

Maintaining Panama while Developing Tourism

The hub airport idea allows Panama to develop tourism in many locations. The hub airport idea allows for easier access to eco tourism in the untouched natural areas of Panama as well as cultural tourism in Panama’s comarcas or autonomous areas.

Thus Panama tourism investments can develop in the logical locations without being overly centralized. Also, tourism in Panama can continue to be a Panama experience and not a theme park or tropical beach indistinguishable for other locations.

Panama’s Law 8 provides tax incentives for tourism related investments in areas currently devoid of the necessary infrastructure. More ready access to Panama’s interior will make investments under Panama Law 8 even more attractive.

Investment in tourism in Panama has paid off with hotels, marinas, casinos, and the like. It will be nice to see further development in Panama’s interior to make access easier and to provide jobs to people in more remote locations.

If Panama does this right they will avoid the recurring problem of development where people coming to see nature or culture or history manage to destroy what they come to see by sheer weight of numbers and need for services.

 If you are interested in investment opportunities in Panama tourism contact us at ABPanama. We do business throughout Panama and have over 23 years experience managing real estate investment portfolios.