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Panama City, Panama

Panama City
Panama City is the capital city of Panama in Central America. The city has a population of approximately 950,000, with a metro area population approaching 1.7 million. Panama City is located on the Pacific Ocean entrance to the Panama Canal. Panama City’s economy is based on banking, finance, commerce, and tourism. Much of the economy relies on trade and particularly shipping activities and traffic through the Panama Canal. Due to the canal, Panama City has become a major location for offshore banking and tax planning. Lawyers and accountants assist corporations in regulatory laws pertaining to the shipping practices in Panama. There has also been much real estate investment in Panama CIty due to the expansion of the canal. There are over 80 banks located in the city, and at least 15 are local. The city accounts for 55% of the country’s GDP, and the city has become a transit point and tourist destination as well. The city has over 15,000 hotel rooms and millions of visitors yearly. Panama City is served by Tocumen International Airport for all international service, and Albrook Airport for domestic and Central American service via AirPanama.
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