Panama City
Panama City and its commercial real estate market are unique in many respects. Did you know…
- Panama City is the capital and largest city of the Republic of Panama. It has a population of 880,691, with a total metro population of 1,272,672, and it is located at the Pacific entrance of the Panama Canal, in the province of the same name. The city is the political and administrative center of the country, and a hub for international banking and commerce.
- With an average GDP per capita of $11,700, Panama has been among the top five places for retirement in the world, according to International Living magazine.
- Panama City was chosen to be the American Capital of Culture for 2003 (jointly, with Curitiba, Brazil).
- Being the economic and financial center of the country, Panama City’s economy is service-based, heavily weighted toward banking, commerce, and tourism. The economy is dependent, to a significant extent, on trade and shipping activities, associated with the Panama Canal, and port facilities located in Balboa.
- Panama City is responsible for the production of about 55% of the country’s GDP. This is because most Panama businesses and premises are located in the city and its metro area. It is a stopover for other destinations in the country as well as a tourist destination in its own right.
For more information, contact:
Patrick Moultrup
Phone: +1 (408) 402-5270
Email: pmoultrup@itraglobal.com
