How's the economy in the Panama City, Panama area of Marbella?
RICH Novak - RE/MAX Beaches & City! INC.
The economy of Marbella, the center of Panama City, Panama, and for that matter the economy of all of the Republic of Panama is literally BOOMING! Container ships that can fit thru the Panama Canal with its present width and depth are known as "Panamamax ships. But the Panama Canal is being widened and made deeper so that the gigantic "post-Panamamax" ships - which are 3 times the size will be able to navigate the Panama...
The economy of Marbella, the center of Panama City, Panama, and for that matter the economy of all of the Republic of Panama is literally BOOMING! Container ships that can fit thru the Panama Canal with its present width and depth are known as "Panamamax ships. But the Panama Canal is being widened and made deeper so that the gigantic "post-Panamamax" ships - which are 3 times the size will be able to navigate the Panama Canal. $5.25 Billion is being invested in the Panama expansion program. A new public mass transit system - part subway & part elevated - is being constructed with an expected completion date of February 2014. Underpasses and overpasses are being added to the roads of Panama City to ease traffic congestion. Billions of dollars are being invested to improve the sewer and sanitation system to help clean up of the Bay of Panama. Shiny new commercial skyscrapers are popping up all over 50 Street... Thanks to the Panama Canal - Panama City is expected to become the logistics center for all the world. A new $200 million dollar convention center is planned for the Amador causeway. Brand name hotels like the Waldorf Astoria, Hilton, Westin have already opened and even the Ritz Carton is headed this way. Multinational companies like Caterpillar, Dell, Halliburton and about 65 more have already opened regional offices and operations here in Panama. A brand new city named Panama Pacifico is being developed just across the Bridge of the Americas. The unemployment rate is less that 4% which equates to full employment... every Panamanian who wants to work is working. The restrictions against foreigners coming to Panama to work are easing, but this change may take some time to implement. Panama it just keeps getting better and better and better!
Posted April 28, 2013