The economy in Panama remains the second most competitive economy in the Latin American region. This measurement is made according to the Global Competitiveness Index, made by the World Economic Forum. This report is responsible for making an annual assessment of the various factors driving productivity and prosperity in each country.
For this 2016, Panama is ranked 50th in the ranking of global competitiveness, out of 142 countries analyzed. Last year, Panama was in the 48th position.
Economy in Panama – Gogetit Highlights
- Panama occupies the 50th position among 142 economies evaluated, surpassing countries like: Costa Rica, Mexico and Colombia.
- The World Economic Forum report indicated that the top 10 positions in the world rankings were occupied by Switzerland, Singapore, the United States, Germany, the Netherlands, Japan, Hong Kong, Finland, Sweden and England.
- Panama has been classified as a “country in transition from efficiency to innovation”, that is to say, it makes the transition from the stage of competitiveness driven by efficiency to innovation driven.
In a study made by the World Economic Forum, known as the “Global Competitiveness Index”, it has been demonstrated that the economy in Panama has consolidated as one of the best in the region and the country continues to be a leader in port and airport infrastructure, ranking among the 10 best in the world, thanks to the logistical hub that has been strengthened with the expansion of the Panama Canal and the expansion of Tocumen International Airport.
One of the strengths that the economy presents in Panama right now, is the strong attraction of Foreign Direct Investment (FDI), since Panama remains one of the main recipients, being the country that more foreign investment by Gross Domestic Product has attracted in the region, occupying the number 9 position worldwide in the Global Competitiveness Index.
Private foreign investment per capita in Panama, remains the highest in Latin America, demonstrating that the country has opportunities that foreign investors see because of their connectivity, openness and stability.
It is important to note that the projections of the International Monetary Fund (IMF) envision economic growth for this and next year, ensuring that Panama has all the elements to continue growing 6% a year.
The entrepreneur interested in investing in Panama must know that, in general terms, the investment climate is very stable in social, political, labor and economic matters. It is also in the legal environment, as it is characterized as fair, transparent, consistent and favorable for investment.
You might be interested in: Real estate investment models in Panama.
The Republic of Panama has a number of opportunities for the investor, both abroad and the national, when visiting the cosmopolitan city of Panama, it becomes clear the scope of the activity of the economy of Panama.