Nice Live Inn Panama

In recent years, foreign investment in Panama has climbed significantly and Panama has become recognized an international hotspot. Major publications such as Fortune, Newsweek, London Financial times, International living, AARP, and the New York Times have spread word about Panama’s real estate market, tax incentives, low cost of living, and fabulous weather causing international attention from retirees, investors, and vacationers. In 2007 international arrivals in Panama went up 30% to 1.1 million which was the fastest growth in the hemisphere.

The countries real GDP grew 11.2 percent in the same year and 9.5% percent the year after. The IMF forecasts 7.5% growth in 2009, a relatively small change considering nearly everywhere outside of Panama is in global recession. Unemployment in Panama is currently 5.5% percent which is the lowest it’s been in 40 years. Additionally, prior to the 2009 world recession, Panama had averaged 1.5% inflation for twenty years. Although slightly affected because of
global rising food and fuel cost, when visiting Panama you would not even notice there is a recession! In fact, IMF directors commented that Panama’s financial sector has not been negatively affected by the global financial turmoil, noting the ‘remarkable turnaround’ in the non?financial public sector as well; these factors, combined with the strong economic growth, earning the country a BB+ (stable).

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