Panama’s Parallels With Dubai
Panama and Dubai…Long Lost Cousins?
It’s true, I like to make absurd comparisons and outlandish statements. For several years now, I’ve been calling Panama “The Dubai of Latin America”. This usually results in assorted chortles and eyeball rolls from whomever is within earshot of my rants.
But seriously, the more time I spend in Panama and the more I read about Dubai (no, I’ve never been and don’t plan to go), the stronger my hunch that these two distant countries may just share some common DNA.
What would lead me to such a wacky conclusion? I present to you, the evidence:
Exhibit A: Skyscrapers That Nobody’s Occupying
There’s a building boom in both countries, but most figures indicate that the absorption rates are far outpaced by construction. Do you know anybody rushing to move to Dubai or Panama…or is it investors and speculators who are hyping these not-yet-popular tourism destinations?
Exhibit B: More Business Than Pleasure
Plenty of business people go to Panama and Dubai. Both are world-class business hubs whose fancy hotel suites are visited by heads of state, captains of industry and various grey-area super rich. What the countries are both sorely lacking is any reason to visit OTHER than business. I can speak for Panama’s amazing (and untapped) tourism potential, but I think I’ll take a pass on Dubai’s indoor ski resorts, thanks.
Exhibit C: Brass n’ Glass
My grandmother used to say that you can’t buy class, but apparently that proverb never reached these kissin’ cousins. Real estate projects in both Panama and Dubai too often resemble the gaudiness of the United States’ own 80’s era excess. Brass n’ Glass anyone? Rather than focus on smart design, Scandanavian minimalism or German “form follows function” efficiency, architectural renderings in Panama and Dubai seem inspired by the eternal question: “Would a gold toilet be TOO much?”.
Just check out a few of these delightfully tacky, crazy expensive promo sketch-ups and guess quickly, Panama or Dubai?
Vegas baby, Vegas!
It’s kinda like a post-modern pyramid
I’m no engineer, but is this is even possible?
The correct answers to questions above are: 1) panama 2) dubai 3) panama
Exhibit D: A Penchant for Giant Pools
Both Panama and Dubai have contracted the exact same company to build their over-the-top, gigantoid mega pool projects. What other countries could celebrate such brazen excess while the rest of the world is talking about eco-solutions and hybrid vehicles? Well done, Clampett Cousins!
Exhibit E: Out of Land? Build More!
this oughta show Nature who’s boss!
Not to be outdone by Dubai’s island building initiative known as “GEO 1″, Panama too wants to show the world that it can also forge new earth. Preliminary designs have been approved to construct a series of new islands off of Panama City’s bay. I bet these same developers who sold “unbroken ocean views forever” off Punta Pacifica never mentioned this little ace up sleeve.
Exhibit F: Big Assets
the Panama Canal is a big bucks operation
Both countries sit upon invaluable assets coveted by the world’s short list of superpowers. Panama’s Canal was a good reason for the U.S. to operate major military facilities there for nearly a century and stage Operation: Just Cause. Likewise, the vast oil fields of the UAE were among the motives for the U.S. engagement in Gulf War I. No surprise then that Dubai and Panama have eerily similar politics when it comes to their allegiance with the U.S. They are considered to be strong U.S. allies and have permitted U.S. military presence in their past (Panama still?). They are also among the few foreign nations that still demonstrate support of President George Bush. Is it by any coincidence then, that both are flourishing nations who are among the greater included in today’s globalized economy?
Conclusion: Am I Nuts?
Perhaps I’m exaggerating, per usual…but I think there’s probably a LOT more to my superficial comparisons between these otherwise very different nations. What do you think?
| Written by Casey Halloran |  |
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Filed under: Business on September 3rd, 2008
Casey, great article on the similarities between these 2 geographical hotspots. Back in late April while researching material for a blog post on comparison of Panama’s recent boom to that of Costa Rica’s I realized that they had less in common than the situation that is developing in Dubai. I came across some interesting statistics and observations that helped me understand more of the situation prevailing here in Panama.
You can catch the post here:
http://www.thinkpanama.com/panama-weekly/comparing-panama-to-dubai
Casey, I found an interesting article of reasons not to move to Dubai. The funny thing is, so many of the complaints in the article are every day issues in Panama as well. One huge advantage Panama has over Dubai is that you can drink anytime, anywhere in Panama - not so much in Dubai. Sorry Dubai, Panama has my vote!
You can read the list of reasons not to move to Dubai here: http://www.escapeartist.com/efam/94/art_20_Reasons_Not_Move_to_Dubai.html
Rebecca
[...] Panama. Dubai and Panama already have a lot in common as Casey Halloran pointed out in an earlier entry. Like Panama, Dubai has an ever growing population of foreigners. Though Panama is relatively [...]