From it’s beaches to it’s mountains, Panama has a world class draw that is just now getting the attention that it deserves.
The revenue generated by tourist arrivals is almost two times higher than the income received by tolls at the Canal.
The growth in the number of visitors to Panama and the amount of money they spend in the country has been so rapid that it already far exceeds the revenue generated by tolls on the Canal.
“Just five years ago, both sectors generated similar income according to the Comptroller General of the Republic. In 2009, tourists expenses generated $1.483 billion, while revenue from Panama Canal tolls totaled $1.465 billion. ”
“For this reason, the Panamanian Chamber of Tourism (Camtur), the Panamanian Association of Hotels (Apatel) and the Tourism Authority of Panama (ATP), agree that public-private partnerships should be strengthened focussing on promoting Panama as a tourist destination because they are seeing results from those efforts.”
Source: Capital.com.pa
Even if for no other reason, seems this is a reason why Panama MUST clean up the trash and the crime!!! Too much is at stake for this country.
I assume those are gross revenues. I would be curious to know how the net revenues break down.
Believe much has to do with Panama’s gteat marketing strategy & benefits to business establish ed to draw in the tourist as well as conferences.
Great article Tom, thank you. Happy Easter to you and your family.