{"id":12862,"date":"2015-03-11T13:29:17","date_gmt":"2015-03-11T18:29:17","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=12862"},"modified":"2015-03-11T13:29:17","modified_gmt":"2015-03-11T18:29:17","slug":"top-real-estate-agency-names-panama-city-as-city-of-the-future","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/top-real-estate-agency-names-panama-city-as-city-of-the-future\/","title":{"rendered":"Top Real Estate Agency Names Panama City as \u2018City of the Future\u2019"},"content":{"rendered":"<p><a href=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2015\/03\/PANAMA82.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-12863\" src=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2015\/03\/PANAMA82.jpg\" alt=\"PANAMA82\" width=\"629\" height=\"393\" srcset=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2015\/03\/PANAMA82.jpg 960w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2015\/03\/PANAMA82-300x187.jpg 300w\" sizes=\"auto, (max-width: 629px) 100vw, 629px\" \/><\/a><\/p>\n<p>My friend Duncan McGowan who is the President of Punta Pacifica Realty in Panama City wrote a great article about Panama making headlines once again.<\/p>\n<p dir=\"ltr\" style=\"margin: 1em 0; padding: 0; -ms-text-size-adjust: 100%; -webkit-text-size-adjust: 100%; color: #606060; font-family: Helvetica; font-size: 15px; line-height: 150%; text-align: left;\">Respected international real estate consultancy Knight Frank has named Panama City a \u201cCity of the Future,\u201d citing the growing number of the world\u2019s wealthiest individuals calling the Panama capital home.\u00a0 \u201cInvestors are attracted by the strongest economic growth offered in the region and also a very competitive tax environment,\u201d says Knight Frank in its annual Wealth Report, which tracks trends among the wealthiest property buyers around the world.\u00a0 Panama was one of 15 countries in the world to experience a growth in 2014 of at least 5 percent in the population of ultra-high-net-worth individuals (UHNWI), defined as an individual worth more than $30 million, according to Knight Frank\u2019s research. Panama is now home to 85 UHNWI, the report found.<\/p>\n<p dir=\"ltr\" style=\"margin: 1em 0; padding: 0; -ms-text-size-adjust: 100%; -webkit-text-size-adjust: 100%; color: #606060; font-family: Helvetica; font-size: 15px; line-height: 150%; text-align: left;\">Knight Frank chose \u201cCities of the Future\u201d for a variety of economic and social factors, in addition to the growing population of wealthy individuals. These cities are \u201clocations whose influence we believe is growing strongly\u201d and \u201cshould certainly be on the radar in terms of their wealth creation opportunities,\u201d the report states.\u00a0 Panama City fits the bill in many way. The city offers a \u201chigh degree of economic and regulatory stability,\u201d Knight Frank reports. In addition, \u201chigh quality transport and health care and a growing presence of global hotels brands have drawn investment from entrepreneurs looking to expand on a strong food and lifestyle scene.\u201d The Economist magazine recently labelled Panama City the \u201cSingapore of Central America,\u201d which seems \u201cincreasingly prescient,\u201d Knight Frank notes. The number of high net worth individuals \u2013 wealthy people who haven\u2019t achieved \u201cultra\u201d status &#8212; has more than doubled since 2007, growing to 4,700 in 2014. That number is expected to grow to 7,000 by 2024, the agency predicts<\/p>\n<p dir=\"ltr\" style=\"margin: 1em 0; padding: 0; -ms-text-size-adjust: 100%; -webkit-text-size-adjust: 100%; color: #606060; font-family: Helvetica; font-size: 15px; line-height: 150%; text-align: left;\">Other cities singled out for their growth opportunities included Belgrade, Serbia; Addis Ababa, Ethiopia; Yangon, Myanmar; Overall, Knight Frank found the population of wealthy people around the world continues to grow, despite the economic turmoil.\u00a0 After a 3.1 percent jump in 2014, the population of UHNWI has grown by 61 percent in the last decade, Knight Frank says. That trend is expected to continue, with the number of UHNWI expected to increase by 34 percent to 231,000 in the next decade.\u00a0 The United States, which supplies the most buyers to Panama City, will continue to lead the world in UHNWI, with more than 51,000 forecast in 2024, a 25 percent increase from current levels. In contrast, Japan will have the second largest group, with only 19,916; China is forecast to boast 15,681 in the next decade.<\/p>\n<p>Knight Frank has provided great data about Panama from a global perspective but I live here and I can tell you that they simply scratched the surface of what is happening in the city. Panama will soon be enjoying another explosion in tourism as significant \u00a0investments pour into the infrastructure of Casco Viejo and the Amador Causeway. All the new hotels are already choking with reservations for the opening of the new Panama Canal. We don\u2019t get hurricanes in Panama but if we did, this would be the perfect storm.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>My friend Duncan McGowan who is the President of Punta Pacifica Realty in Panama City wrote a great<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12862","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Top Real Estate Agency Names Panama City as \u2018City of the Future\u2019 - Blog and Newsletter<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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