How's the economy in the Panama City, Panama area of Casco Viejo?

With the road construction the old town, Casco Viejo seems to be strangled in traffic but the businesses are doing well.  Most restaurants in the section of Panama City, Panama, are well populated most nights the hotels are on average 70 -80% full.  When we first came here the area didn't have enough people to sustain the restaurants or shops but now it is thriving.
 

With the road construction the old town, Casco Viejo seems to be strangled in traffic but the businesses are doing well.  Most restaurants in the section of Panama City, Panama, are well populated most nights the hotels are on average 70 -80% full.  When we first came here the area didn't have enough people to sustain the restaurants or shops but now it is thriving.
 

The economy of Casco Viejo in Panama City, Panama is based mostly on tourism. The area has been in constant renovation / repair during the last 10 years, which has greatly improved the infrastructure. Several small nice boutique hotels operate in the area, as well as many restaurants and shops. Festivals and cultural events are very common lately, bringing more people to the area and keeping business going.

 

Although more private and government investment is...

The economy of Casco Viejo in Panama City, Panama is based mostly on tourism. The area has been in constant renovation / repair during the last 10 years, which has greatly improved the infrastructure. Several small nice boutique hotels operate in the area, as well as many restaurants and shops. Festivals and cultural events are very common lately, bringing more people to the area and keeping business going.

 

Although more private and government investment is needed to fully fix old buildings and plazas, I believe that soon Casco Viejo will be without a doubt one of the best colonial neighborhoods in the region.

 

 

 

 

The Economy in Panamá

 

Since the 15th century, the Isthmus of Panamá has been the obliged path for worldwide trade and commerce.  More recently, with the expansion of the Panamá Canal, large ports abroad are renovating their facilities to to accommodate the big ships that soon will cross the canal, bringing millions of freight containers.

 

These days, the economy of this small country of  Panamá...

The Economy in Panamá

 

Since the 15th century, the Isthmus of Panamá has been the obliged path for worldwide trade and commerce.  More recently, with the expansion of the Panamá Canal, large ports abroad are renovating their facilities to to accommodate the big ships that soon will cross the canal, bringing millions of freight containers.

 

These days, the economy of this small country of  Panamá is the envy of bigger ones, because even in the middle of the economic crisis, Panamá is booming, and according to statistics of the most important organizations in the world, will continue to grow at a rate of at least 5%.

 

Every city and town in Panamá has benefited with all this new economic activity,  including "Casco Viejo", which is part of the San Felipe neighborhood, inside the city of Panamá.  This place is also known as "Casco Antiguo", and is one of the favorites of locals and visitors to visit, due its historic colonial buildings, the narrow brick streets, old Catholic churches, picturesque houses with balconies surrounded by the sea, the Presidential Palace and many other attractions, such as the many outdoor "coffee shops", the National Theater, small arts and craft shops, the French Embassy and  "The Bóvedas". 

 

Casco Viejo will be soon be surrounded by the "Cinta Costera", which is a beautiful boulevard that goes parallel  to the Panamá Bay, on Avenid Balboa until the causeway in Fort Amador, which is the entrance of the Panamá Canal.