Panama News

Panama is located in Central America and shares borders with Costa Rica and Colombia. To its South is the Pacific Ocean and to its North is the Caribbean Sea. Panama is one of the region’s most important economic centers, and hence is in the news often. It is also a popular tourist destination and it is not surprising that people like to check on Panama news before they begin planning their trip to Panama. Some of the important topics that residents and visitors like to focus on include the climate, economic activity, political scenarios and the tourism in the region.

When you are looking at news in this region it is important to consider it in context of the global scenario also. If trade and economic activity is slowing down in this region, it is the same all across the world. The country has a rich history and is traditional in its customs and rituals. This is a sheer delight for visitors who are able to capture images and memories of people who are deeply rooted in their culture and society. To understand the country as it is today, you also need to understand its past. After three centuries under Spanish rule the country gained its independence only to be overtaken by military dictators. Panama was then reincorporated with Colombia. Today Panama is a democratic republic with the President as the head of state.

Panama’s Informational News Media

Panama Tourism News

Panama is not in the news only as a hot destination for holidays but is also on the global economic map. Thus, there is an increasing need for corporate rentals. There are numerous companies that have risen to the occasion and offer fully serviced apartments for corporate visits and conferences. Hence, Panama rentals are centrally located and are extremely convenient and useful for visiting businessmen.

If you are planning a holiday to Panama in the near future, you will be glad to hear the latest public transportation news. Be prepared to travel in style in one of the many new buses that the government intends to add to its public transportation. The buses will offer automatic transmission and air conditioning and make your journey to different parts of Panama more comfortable and enjoyable.

News from the World Travel and Tourism Council indicates that by 2016 Panama’s annual revenue from tourism will rise to $2.4 billion, making it one of hottest tourist destinations in the world. The number of tourists visiting the country has increased from one million in 2005 to 1.2 million in 2006. This is just a simple illustration of the immense interest that the culture and economy of Panama evokes in not just its residents but also in visitors.

Rising to the opportunity before it, the Panama government has decided on a $39.5 million publicity campaign for the next five years. The campaign will be focused on the North America and Latin America. The country has already begun work on its National Tourism Plan and this involves identifying centers of tourist interest and developing them. According to news reports along with the Panama government, private companies are also working hard to make Panama a country that will attract more foreign investment. A close look at Panama news reveals that this tourism plan is not just restricted to increasing the number of people visiting the country but also on the number of people who return to invest in real estate and economic activity here.

News reports indicate that a large percentage of the Panama population lives in rural areas and almost 12% live under the poverty line. With growth in the tourism sector the Panama government hopes to create thousands of job opportunities for its youth and channel their talent and skill effectively. The government is also focusing on creating infrastructure and providing training that will support the tourism sector optimally. This includes training of Panama service staff according to international standards.

Panama Economic News

Panama is the world’s second largest free-trade zone, second only to Hong Kong. Its GDP in 2007 rose by 11%. Like the news from the rest of the world the economy of Panama has also been affected by global recession, but fortunately not as badly as most other countries. This is the top reason why more and more global citizens prefer to buy real estate in Panama as an investment and also as a retirement home for their golden years. The country offers tremendous economic activity and potential along with its stunning scenic beauty. If you read the real estate news, you will know that you can buy land and property at cheaper prices than you would otherwise buy in the region in the next few years.

The current global economic situation has also made real estate in Panama a viable investment. It is important that you consider the process of buying real estate only with the advice and guidance of a lawyer so that you are sure that all legalities are fulfilled.

News from Panama has also caught the attention of business bigwigs such as Donald Trump, who plans to build a casino in the country. While negotiations are on, this would be Trump’s first casino outside the USA.

The government has also approved several projects to promote the use of alternative sources of energy. This is a big step towards helping Panama harness alternative energy sources and curb pollution.

Sports News

Panama is known for its boxing talent and every year tournaments are organized to give upcoming talent an opportunity to display their skill as well as receive encouragement. Panama is proud to be motherland to as many as four boxing world champions and still training new talent sure to surpass past glories. It has also given the world its share of terrific baseball players who are making a name for themselves outside the country.

News of Panama Traditions

Bringing in the New Year in Panama? Then be sure to wear underwear that indicates what you hope the New Year will bring. Wear red for love and for money, opt for yellow underwear. The culture and traditions of Panama mesmerize many a visitor and keeps them interested for years to come. When visiting Panama do check the news for the festivals that may be on while you are visiting the country or you could change your holiday dates to ensure that you don’t miss a festival that is of interest to you.

The Festival de la Mejorana is in the news every year and is considered by many as the most traditional festival in Panama. It is organized in September and showcases some of the interesting traditions of the many folkloric groups in the country. The festival includes parades, bull fights and traditional dances. The five day festival truly captures the traditions and culture of Panama and is a great event for tourists to attend.

As you can see, the news is as vital to Panama, as is to any country. So keep informed and up-dated and learn all you can about Panama News.