Real Estate Boom in Panama Continues

I have been interviewing a lot of people in the real estate industry in preparation for the March Magazine and there is no doubt that the boom in real estate is alive and well. First of all in Panama there were never the excesses in the market that you saw in Dubai, in the United Arab emirates or London England or Las Vegas, Nevada and other places where the bubble exceeded all reason.  Secondly, retirement is a real issue and there are lots of people nearing retirement from all over the globe who find Panama interesting and attractive for a variety of reasons.

Many people want a second home to escape their own country at certain times of the year. In addition, many people are looking for a total change of lifestyle, in their retirement years and Panama is attractive to them. There is an incredible energy in Panama as business is still good. Many businesses from places around the world are moving here. Real estate is selling well, businesses are doing well, the banks are sell capitalized and ythere is little “sub-prime” debt except amongst the bigger international banks like Citi and HSBC.

Business in the canal and in the Free Zone is strong.  What’s not to like.

Come and see for yourself

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Expocomer

This huge Latin American Trade Fair held in Panama in early March 2009 has drawn participants from all over the world.  There are embassies from many, many countries including Korea, Brazil, France, Spain, Taiwan, mainland China, Holland.  But in addition to these embassies are businesses looking to do business in Panama or out of Panama.

I learned that Vietnam is famous for ceramics and tile and that Bolivia is ready to do business.  France is of course here to sell their famous skin care products and perfumes and their cars.

Brazil has a huge exhibition and there are so many products you could spend the entire day just getting to know what Brazil has on offer.

But Brazil is not alone. Spain too is here and Mexico and El Salvador.
One of the things that is clear from the huge number of exhibitors and the tremendous energy. No one sees Panama as having any problems in the days and weeks and months ahead. The crowds at night are huge as the business people of Panama finish their day jobs and come to see what else they can sell or add to their retail outlet. It is clearly business as usual, and business is booming.

From our vantage point with the Colon Free Zone there is a constant stream of business owners from other countries looking to set up operations in the Colon Free Zone

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Panama Expocomer

Panama Today Magazine was asked by the administration of the Colon Free Zone to be guests at their booth at Expocomer one of Latin America’s largest trade fairs. The Colon Free Zone is the second largest Free Trade Zone in the world, second only to Hong Kong and the largest one in the western hemisphere. We were introduced to the press as their publicists as they know that the trend is to the internet and the days of printing magazines are drawing to a close.

In Panama this trend is not yet evident as the Panamanians love their printed magazines, and there are literally hundreds of them. An interesting environment in which to launch an online magazine, but none the less, this is where we find ourselves. We know, and the Colon Free Zone knows, that growth is on the internet and the people who are looking at Panama today, check it out first on the internet.

The visionary management at the Colon Free Zone is aware that if they are going to grow dramatically in this tougher economic climate of 2009, then they must access the world and encourage their merchants to access the world’s markets through the internet. No longer can one safely sit and wait for the world to beat a path to Panama’s doors. There are a lot of people recognizintg that big changes in how the worlld does business are happening right now and you either wake up and realize things are changing dramtically or you will miss this opportunity.

Panama is currently in a very favored position in the world as a small population and large water resources really make them desirable as the world today is running out of water. Panama is alone in Latin America with drinkable tap water, a location which keeps them safe from many of the climatic problems such as hurricanes, and fierce winter ice and snow storms that trouble a great deal of the world, so they so far have weathered the economic downturn which is sweeping the world.

But money is fickle and it is very mobile, so to draw people with money and ideas to Panama, and to draw more business to the Colon Free Zone they have asked us to work with their merchants to make their world presence larger and to continue to make the Colon Free Zone known as one of the top destinations for companies wishing to participate in world trade.

We thank the Colon Free Zone for their confidence in us and we will continue to produce virtual magazines and brochures of the highest possible quality, so that the world will know Panama is ready to do business.

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