We often get questions regarding the future of Panama City as a viable capital city and international investment and travel destination. While few of us were around before the days Panama City rose to stardom, it’s sensible to ask whether, without the real estate boom and tourism surge, without the newfangled industries rising in the nation’s capital, will Panama City make it in the long run?

Panama City was already a thriving place without all the silly towers. It was already a fun place for bachelors to visit on weekends. It was already a trade and banking hub. If real estate and tourism were to dissolved tomorrow, Panama City would still have all the following going for it. Granted, it may attract a different crowd, but in response to questions whether Panama City “will survive after the bust”, the answer is undoubtedly yes.

1) Great nightlife: Many people in Panama, both natives and foreigners alike, have a secret urge to live in Miami. OK, well maybe not many, but there is certainly an undercurrent of “Miami hip” in Panama City, albeit at around half the price. Trendy sushi parlors and slick nightclubs are a way of life during Panama nights: from beautiful women to bouncing dance floors, the nightlife and entertainment in Panama City is attractive enough to draw visitors on its own.

2) Good dining: Don’t get me wrong, the dining in Panama City is not yet world class. But it does certainly rival that of your second or third-tier US city. There are a number of pretty good restaurants in Panama, not a whole lot of extraordinary ones, but this backbone of quality and consistent fine dining represents arguably the best food capital in Central America.

3) Great geographic location: You don’t have to be a cartographer to realize Panama, and more specifically it’s capital, is perfectly located for a number of industries. It’s proximity to North and South America is ideal for business and travel, and it’s fairly well established as a trade hub. This ease of access, both coming and going, as the crossroads of the new world, will be an attribute forever.

4) Trade: Oh, yeah and it has something called…the Panama Canal. Because Panama’s been able to rely on the consistent income of the Panama Canal, it’s rarely needed other industries to survive. Meaning, unlike Costa Rica who’s entirely dependant on tourism or Dubai who’s entirely dependant on real estate, Panama has much more depth in its portfolio. I’d like to think that this un-neediness will breed a confident progression.

5) Melting pot of cultures: Panama City has, and always will be, a mixture of cultures and identities from around the world. It is a feeling semi-reminiscent of what made immigrant magnet cities like New York such interesting places to be. Compliment that with Panama’s rich history and strong indigenous culture and you have a rich and steamy melting pot which one can’t help but enjoy to be around.

Do you have any reasons you think Panama City will be a survivor? After the real estate boom has passed, do you think Panama’s capital city will stay strong?

This post's rating:

Related Stories

Filed under: Real Estate on June 5th, 2008