Don’t You Wish You Were Here

Have you ever seen a picture and been so moved that your entire life moved?  Sunsets can do that to me and so can beaches.  Sometimes I look at a picture and it is just absolutely calling my name.

This picture is taken at the beach in front of the Royal Decameron Resort and Hotel but at the homeowner’s section.  Just imagine this little piece of paradise could be reserved for you, just like it is reserved for me.  The villas for the homewowners are located around the various holes of their well recognized world class golf course.

How much must you pay for this little piece of paradise?  Less than a half million dollars and it can be yours.  In most of the world this sort of home and location would cost you in excess of one and a half million dollars, even in these depressed or recessionary times.  Your own golf course and golf club, your own beach club with huge pool and your own piece of a beautiful beach on a warm ocean, don’t you wish you were here?

Enjoy and Share...

What is Happening in Panama Today

Here’s some of the latest news from Panama:-

The Flat Tax

According to La Prensa, Ricardo Martinelli, the favorite for winning the upcoming general election in May, 2009, is planning to bring in a flat tax. A flat tax, or flat rate tax, is a tax policy where there is a constant rate of tax rather than progressive or graduated rates. The idea behind this is that a flat tax would attract foreign investment, create jobs and boost the economy. Martinelli’s party also plans to reduce income tax from 30% to 10-15%.

The Stanford Crisis

The Stanford fraud scandal is affecting many countries around the world and has spread to Latin America. Venezuelans and Mexicans have been flocking to Stanford Offices in both countries to try and track down their money. In Panama bank regulators have taken administrative control of Stanford Bank but there is no indication so far that there is any money missing.

PANAMA JOINS ALADI  The Latin American Association of Integration (ALADI) unanimously approved a proposal that paves the way for Panama to become a full member of the regional bloc. A report issued by that institution explains that the proposal was put to the Committee of Representatives by the Mexican ambassador, Cassio Luiselli. It is now up to the nation to accept the requirements set down in the Montevideo Treaty of 1980 (TM-80). Once their application for membership is ratified by the ALADI Council of Ministers Panama must deposit before the Uruguayan government an instrument of adhesion to the TM-80 through additional protocols and regional agreements subscribed in the Association. After 30 days of its approval of incorporation Panama will become the second full member of the Central American region, from which Mexico was first. ALADI is the largest Latin American  integrated group of countries representing about 20 million square kilometers and more than 500 million inhabitants. Its full members are Argentina, Bolivia, Brazil, Chile, Colombia, Cuba, Ecuador, Mexico, Paraguay, Peru, Uruguay and Venezuela. With permanent headquarters in Montevideo, the general principles of the treaty regard political and economic plurality and progressive convergence of partial actions towards forming a Latin American Common Market. It also offers mechanisms of flexibility and differential treatment based on the level of development of the member states as well as many forms of setting down trade measures.            Montevideo, Prensa Latina

911 Service now available in Panama Aet Elisa Tejera C. for La Critica – Finally! The “Sistema Único de Manejo de Emergencias” (Unified System of Emergency Response) (SUME 911), started operations yesterday to offer special attention during this years carnival celebrations. Medical emergencies such as car and motorcycle accidents, those injured by firearms or other weapons, pregnant women, cardiac arrest, and any other type of medical emergency can be reported by simply dialing 911 said Marta Sandoya, the Executive Director of the 911 project. As is the custom during carnival, many Panamanians travel to diverse points of the country which is why the managers of the system have installed special locations to cover the areas of Las Tablas, Capira, Aguadulce and Coco Solo in Colón. For Panama City the points of coverage will be located at Plaza Ágora, Atlapa, Centro Comercial Los Andes and Villa Olímpica.

So there is a quick look at the sort of things that Panama is doing to make the country more viable and more attractive in every way.

Enjoy and Share...

The New Face of Panama

One of the things that is dramatically changing is the height of buildings around Panama. While single family homes are still the most common form of housing, the development of condo projects has grown exponentially in the last 40 years from nothing, to this sort of amazing collection of condos.  On the Pacific beaches and in the interior around Boquete and on the Caribbean in Bocas Del Toro there are amazing residential communities which are all governed by the same law that governs these high rise developments.

There are also numerous new malls springing up all over the place to provide services to these new condo dwellers.

Like many places in the world with condo developments, Panama has had to create and bring into force laws that would allow them to sell condominiums and so the Horizontal Property Act was born. This law not only covers the high rise condominiums like you see in this picture but also covers the many beach front communities that are springing up all over Panama. Just be sure you have your lawyer carefully reviews the Horizontal Property law with you and the By-laws as it relates to the development that you are considering buying into.

There are even developments that are not covered under the Horizontal Property Act and if this is the case then you really need some understanding of how your rights will be protected and how the rights of other home owners may affect your rights and how those rights are being enforced.

Enjoy and Share...

Why is Panama a top travel destination?

The World Tourism Organization rates PANAMA as one of the top performers in tourism results for 2008. Central America managed to grow by almost 8% despite global recession. The growth has a sustained for Panama with an average rate of 12% per year between 2004 – 2008, 1,609,699 visitors entered Panama in 2008, and 211,472 more tourism traffic than in 2007. The Panama Tourism Authority reported that tourism spending totaled $2.2 billion, and 23% more than in 2007, which represents 12% of Panama’s GDP of $18.6 billion last year. Hotel occupancy was at 79% average with a 9 day average stay. The projections for 2009 are 1.8 million visitors and 2 million for 2010, + 200,000 more visitors per year.

Excellent Business opportunities, the Business Center Capital of Latin America, beautiful beaches on two oceans 50 miles apart, Nature, great Caribbean weather, safe, friendly people, easy access, US dollar no exchange rates, tax incentives for investors, favorable asset protection laws, and ranked the best ” guy-getaways” destination in the World by the press, is among the top reasons that Panama is so attractive for business travelers today.

Panama is south and east of Costa Rica, enjoys the same weather, rainforests, rich natural diversity, beaches, surf, but with a very cosmopolitan city and rich business environment. Panama is on U.S. Eastern standard time, same time as Miami, Atlanta, and New York. A direct flight from Miami is only two hours, thirty minutes, 2.5 hours. Airfares Miami International airport are as cheap as $251 – $321 on American Airlines, and Continental, depending on your booking requirements and itinerary flexibilities.

Panama has direct daily flights to & from Miami, Orlando, Ft. Lauderdale, Houston, Dallas, Washington D.C., New York, and Los Angeles, serviced by American Airlines, Delta Airlines, Spirit, Continental, COPA, as well direct flights to major cities in Latin America and Europe, serviced by KLM, and IBERIA.

PANAMA 2008 TOURISM FACTS

• PANAMA Tourism Growth since 2004 – 2008 is + 12% on avg.
• 1,609,699 tourist entered Panama in 2008.
• Panama Tourism Authority projects 2 million tourist arrivals by 2010.
• U.S. visitors lead the list of countries visiting Panama, with 308,991 visitors in 2008.
• U.S. visitors in 2008 grew by + 19.6%
• Hotel occupancy rates average: 79% occupancy rate, one of highest in the World.
• Hotel occupancy rates grew by + 12%
• Total nights sold in Panama last year: 2,522,595 hotel nights.
• Average stay is 8.9 days
• Tourism sector created a total of 129,200 jobs for Panama in 2008.
• Crimes involving tourist was at a LOW 0.04% , Panama is a very SAFE country.
• European travelers arrivals are at all time high due to direct flights increasing.

But Panama desperately needs more hotels. there are very few on the Caribbean other than in Bocas Del Toro and on many of the best Pacific beaches there are few hotels. Panama offers wonderful financial incentives to people who want to get involved in tourism.  So bring your money and come.

Enjoy and Share...

New Folks in Panama

I just had some friends from Canada and the US arrive in Panama.  They have jut spent a month in Peru, and now their month in Panama begins

First impressions are always fun to share  as it doesn’t matter how many times they have seen the pictures, they are completely stunned by the construction boom that is happening in Panama.  Heading down the causeway into Panama for the first time truly takes your breath away as it is sky high skyscrapers as far as the eye can see and when you see it, you are driving along the edge of the ocean.  Panama is truly a breathtakingly beautiful city.

Then they report on the cost of their rooms and the trip to the hotel restaurant for breakfast.  Expensive is the assessment.  The prices in Peru are only 1/3 as high as the prices they are finding in Panama, but they are here right as Carnival begins, the middle of Panama’s summer and the point in the cycle where everything is full, full, full.  Prices too are up, up up.  But if you are looking to invest, doesn’t this sound like opportunity?  Panama offers great financial incentives to those who want to come and build or invest in tourism projects.

They have just arrived at the Royal Decamaeron Resort and Hotel which is where we live and they are in awe.  The view form the hotel down to the ocean is fantastic.

Then of course we discuss the differences in temperature.  They have been in Lima, Peru, where the temperature is equivalent to here but they have recently been in Cusco which is located an at an altitude of 11,000 feet.  It is much, much cooler.

Generally they are excited by the energy in the air that they find in Panama and looking forward to some beach, sun and the beautiful and welcoming ocean. 80F is the temperature and it really does not ever change much.  What is terrific for people coming to our beach area is the friendliness that they will find and the safety.  Panamanians are so friendly and so helpful they  just can’t help themselves.

I promise them that we can go to areas of Panama that are cooler if they like and in the meantime they are off to try the ocean.  That is what is so wonderful about Panama.  You have choice of temperature but you never have to deal with true extremes of any sort.

Enjoy and Share...

Mansions by the Sea

One of the real estate developments that is attracting the attention of the rich Panamanians and others is Buena Ventura.  This is a beautiful beach front development, which will soon be host to a Jack Nicklaus designed golf course and will have a signature hole along the ocean. 

But not every home in this development is a million dollars, or even close.

Buena Ventura has a variety of homes in various price ranges.  The developer is cognizant of the need to keep prices reasonable for many of those who are seeking to retire to Panama and yet there is opportunity for wealthy folks to build fantastic homes along the ocean, on one of the nicest sand beaches in Panama.

There is a huge difference between Panama and Dubai, which is why Panama’s real estate continues to sell well and Dubai is looking like a ghost town beside the sea.  Dubai,wWith many many developments built to attract the very wealthy and most prices in excess of $1Million or even one million euros, suddenly Dubai has very few buyers.  Panama on the other hand has very few homes prices in excess of $500,000.00.  There are some as these beautifu homes make apparent, but there are lots of reasonably priced homes close to the ocean of course with full access to the Beach club, the ocean and the golf course when it is built.

Enjoy and Share...

The Panama Canal Mules

What is a Panama Canal mule?  They say a picture is worth a thousand words so here is a picture.

This train engine is called a mule. The mules and there are usually several attached to the large ships, front and back, are there to stabilize the ships and keep them from crashing hard into the side of the canal or into the gates. The ships move through the canal under this own power.

Here you get to look up from the Canal as the water is pushed out and see the mule far above. Keeping those lines taut during the journey of these huge tankes through the canal is a real art form.

So now you know what the mules of the Panama canal look like

Enjoy and Share...

Valentine’s Day in Panama

Sunny and bright was the weather of the day and everyone was heading to the beaches or the mountains to get out of the city for a nice weekedn with a loved one. For the romantic latin Valentines day is their favorite day.  The ladies get roses and chocolates and usually a special dinner

Chocolate nice and dark with raspberries and coffee beans were my goodies along with something special for breakfast, banana pancakes with strawberries and maple syrup.  Mmm good!  Even a little champagne and orange juice

Everyone should have their favorite foods on Valentines.  Sure hope you had yours.  Filete mignon for supper with mushrooms in a wine sauce, a  baked potato, Caesar Salad and brownies with ice cream for dessert, fresh pineapple ice cream even.

Well time for me to run and get my martini

Enjoy your day just the way you like it, and call everyone you know to tell them you love them.

Enjoy and Share...

February – It’s Carnival!!

Our 2009 Carnival! issue of Panama Today Magazine is now online for your reading pleasure. Please click on the cover to open your February Panama Today Magazine. Enjoy!

If you would like to have a copy on your computer, you can download a PDF version of the magazine. To download your copy CLICK HERE

Enjoy and Share...

Canada Comes to Panama

Global Vision’s Junior Team Canada Spring 2009 Trade Mission will be exploring investment and export opportunities in the emerging Central American market, in light of Canada’s economic and diplomatic reengagement with the Americas. A 15-member delegation of University students from across Canada will have access to various government and private sector officials to discuss opportunities for trade.  The young folks will be representing a consortium of Canadian companies and the Government in Canada to assess the viability of opportunities in the Latin American market. They will be visiting Panama from February 12^th to the 18^th and Costa Rica the following week.

On Thursday, the day they arrive in Panama, they will have an opportunity to meet with the Senior Trade Commissioner for Canada and many business leaders from Panama. They will be welcomed to Panama by the Canadian Ambassador. On Friday they will take the train to Colon, visit the port and Manzanillo Terminals, and they will have an official trip through the Colon Free Zone. In this way they will be familiarized with the import-export opportunities and the logistics of trade. After lunch at the lovely Melia Hotel on the Panama Canal, they will have an opportunity to visit the Smithsonian Research Facility in Punta Galeta, before taking the train back to Panama City.

On Saturday they are being taken to visit an Embera Indian Village and then a reception at the Ambassador’s residence. Monday begins with a meeting with the PanCanada Chamber of Commerce and the various Canadian businesses already doing business in Panama. Here the students will be matched with mentors, business men who can assist in getting them the contacts they seek to really find what their sponsoring companies are wanting, business opportunities in Panama and or Central America, based in Panama.

They then visit the Howard Airport base which is being converted into a business friendly mecca for companies wishing to establish a presence in Panama. The next day they have an opportunity to meet with the Ministry of Commerce and Industry, (MICI), tour Casco Viejo, visit the Canal Museum and enjoy lunch with the First Lady, Vivian Torrijos at the Presidential Palace. Their final day in Panama includes a visit with the Mining Industry for Panama, a trip to Miraflores Locks and The City of Knowledge.

In and around this formal schedule the young men I met with are really serious about engaging with business men and women who might truly have an interest in the businesses they represent. This includes FinCad, a software designed for assessing derivative products in a large number of markets, great for anyone who has to hedge forward such as the airlines who need to lock in oil prices while prices are low, or world traders who need to determine commodity prices or currency prices; Beachcomber Hot Tubs, the Mercedes Benz of hot tubs, already in 40 countries and looking for a Central American representative; Metropolitan Aromatherapy, the ultimate in products to promote natural healing and living well; and Hayden Drill Bit Industries, the answer for the mining industry, dealing with difficult to access mineral deposits.

I met Colin Chau and Colin Bussiere, both from the Vancouver BC area. I know Colin Chau’s Mom real well. It was terrific fun to show them a little bit of Panama and get their excited reaction. Ahhh the resilience of youth; they had both just flown in to Panama, having spent the night camped out in the Mexico City airport and yet their excitement and seriousness were palpable.

I look forward to talking with them after their trip to get their impressions.

Enjoy and Share...

Next Page »