Download - Public Works Projects And Growth In Panama
Public Works Projects and Growth in Panama
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Public works projects such as the Panama Canal Expansion and the new Metro 1
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combination subway and elevated train are main factors in the continued growth of Panama.
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However, Panama also is a magnet for foreign investment.
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For several years Panama has had the highest per capital rate of foreign investment of any nation in Latin America.
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The economy in Panama grew at 6.8 % rate in August of 2012.
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The worst recession in 75 years missed Panama as its economic growth rate dipped to 3.5% and then rebounded.
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A major reason for the continued economic expansion in Panama improvements is infrastructure.
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Banking, Insurance, Transportation, Hotels, and Catering
Not only is there a connection between public works projects and growth in Panama.
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The fact that the Panama Canal is here makes Panama a hub for container shipping and reshipping.
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The country is a tourist magnet and a combination of business travelers and tourists fill the hotels and give the catering industry a boost.
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In addition, the Panama City banking district, “bancaria,” is as closely packed with banks as any outside of Zurich.
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Panama has a thriving insurance industry as well.
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Growth Year after Year
While public works projects drive growth in Panama this year the country’s economic growth is not a flash in the pan.
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Its growth rate in 2011 was 10.5% for the year.
http://panama-repossessed-properties.com/public-works-projects-and-growth-in-panama/
Panama has matched the growth rate of China for the last decade.
http://panama-repossessed-properties.com/public-works-projects-and-growth-in-panama/
Cars and Inflation
Prosperity has put roughly 4,000 new cars a month on the streets of Panama City.
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To cope with excess traffic new roads have been and are being built.
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Modern buses are replacing the old US school bus system of buses, the diablos rojos or red devils.
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The capital city is building a state of the art metro system as well.
http://panama-repossessed-properties.com/public-works-projects-and-growth-in-panama/
Along the way this author’s “egg index” has doubled in the last five years.
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The egg index, by the way, is the cost of a dozen grade A large eggs at the El Rey supermarket a block away for this author’s home.
http://panama-repossessed-properties.com/public-works-projects-and-growth-in-panama/
Not only has the cost of eggs gone up but real estate prices as well.
http://panama-repossessed-properties.com/public-works-projects-and-growth-in-panama/
One who might consider Latin American investments could do a lot worse than to look to the growing economy at the cross roads of the Americas, Panama.
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While the Panama economy is thriving there are always business failures and person problems
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that put both business property and residences back in the hands of the bank that holds the mortgage.
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For information about investment opportunities in Panama repossessed property, contact us at www.RobertGirga.com.
http://panama-repossessed-properties.com/public-works-projects-and-growth-in-panama/
