Welcome to the Panama Weekly News Roundup! Now is the time to invest in Panama. Urban Ziplining goes viral. And we take a look at 100 years of the Panama Canal. Here鈥檚 the latest.
Investing in Panama: Why now is the time
It鈥檚 no secret that Panama has become a hot bed of international investment. And people around the world continue to take note. This year, with the economy still posting strong growth numbers, and the Canal expansion ready for completion soon, could now be the best time to pull the trigger? According to this international investment resource, the answer is 鈥測es.鈥
One huge reason for Panama鈥檚 role as a global trading and financial center is its location at the center of two oceans and two continents. The recent passing of the U.S.- Panama Free Trade Agreement will only deepen its rising financial and trade role in tying the two continents more closely together. And though when we think of safe havens and offshore banking centers, Switzerland most often comes to mind, Panama is another great option just a short flight from America.
The Republic of Panama is booming not just because of lucky geography and a smart free-market but also because investment-friendly policies have sharpened its advantages…
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The Ultimate Zipline Towers Over Panama City
Last week, a video filmed in Panama took the Internet by storm and went viral all across the web and social media. The video, which was filmed in downtown Panama City, shows adventure seekers taking the plunge and base-jumping off of a zipline, connected between Balboa Ave.鈥檚 鈥淲hite Tower鈥 and the edge of the Cinta Costera. They claim it鈥檚 the 鈥渨orld鈥檚 largest urban zipline,鈥 and who are we to argue? It鈥檚 a fun video, and great to see the city showcased as an adventure travel hot spot.
鈥淭here鈥檚 never been a zip line done like this in a city before 鈥 when you take over a gigantic building and shut down a major freeway 鈥 so we brought on the right people and they had to do a lot of research to make sure it would be safe,鈥 Graham told聽.
The line stretches from an 800-foot skyscraper in Panama City, Panama, over a marina and a highway. The producers picked Panama City in part because the city allowed them to close down the highway during filming.
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Airlines Price War Benefiting Panama Passengers
It was only a matter of time. With last month鈥檚 announcement of budget flights from Colombia to Panama being offered by Colombian carrier VivaColombia, other local airlines are lowering prices in order to compete. Most notably, Panama鈥檚 flagship carrier Copa, got in on the action, and many people in both countries couldn鈥檛 be happier.
The opening of routes from Medellin and Bogota to聽, by the airlines聽听补苍诲听聽with fares “… up to 70% less than those offered by the subsidiary of Copa Holdings” is already generating benefits to travelers reports聽CentralAmericaData.
“… Copa Airlines reduced the price of a ticket to Medellin to $170 (including taxes). Costs of the other two airlines are also not over $200.”
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The Panama Canal at 100: Celebrating a century of connecting the world
This past week, Panama culminated a month of celebrations on the 100th聽anniversary of the Panama Canal. Foreign dignitaries, local government officials, entertainers, and throngs of tourists all flocked to the locks to commemorate this historic event, and celebrate the continued growth of Panama鈥檚 engineering masterpiece.聽Check out more from our latest blog post.
As the Canal turns 100, it鈥檚 not the past, but the future that鈥檚 got people the most excited around here. Since its return to Panamanian sovereignty, it鈥檚 been a major economic resource for the country and has sparked the massive economic growth Panama has experienced in the last decade or so. It鈥檚 also about to get a major upgrade.
The Canal is nearly finished with $5.3 billion worth of an expansion, which will increase its shipping volume, and make it feasible for so-called 鈥淧ost-Panamax鈥 ships to cross. These ships are capable of holding three times the cargo load of the current ships that cross today. It鈥檚 estimated that the Canal generates 1/3 of the entire country鈥檚 economy, however if you look at subsidiary businesses that benefit from the Canal鈥檚 presence, that number is actually higher.
Read more from about the聽Panama Canal turning 100
