1. A powerhouse in Central America
Panama is a powerhouse in Central America, boasting the largest expenditure on resource consumption of any country in the region. This has enabled the country to become one of the most developed economies in the area, with a strong focus on infrastructure, education, and healthcare. Panama's economy is largely driven by its service sector, which accounts for over 80% of the country's GDP, and its strategic location as a major shipping hub. The country is also a major tourist destination, with its tropical climate, stunning beaches, and vibrant culture drawing in millions of visitors each year.
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2. A Country with a Rich History and Vibrant Culture
The Republic of Panama is a Central American country with Spanish as its official language. However, English is widely spoken by the majority of Panamanians, making it a great destination for travelers who are looking to explore a new culture while still being able to communicate with the locals. With its diverse landscape, vibrant culture, and rich history, Panama is a great place to visit and experience the best of both worlds.
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3. A Constitutional Democracy with a Unique Currency System
Panama is a Constitutional democracy with a unique currency system; the Balboa and the U.S. Dollar. It is the first Latin American country to adopt the U.S. Dollar as its own, a move that has been seen as a sign of economic stability and strength. This has allowed Panama to become a major player in the global economy, and has helped to create a strong and prosperous nation.
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4. Catholicism is the predominant religion in Panama
In Panama, Catholicism is the predominant religion, with around 85% of the population identifying as Catholic. The remaining 15% of the population are Protestant, with a variety of denominations represented. This religious diversity is reflective of the country's rich cultural heritage, with influences from both Europe and the Americas.
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5. A Tropical Paradise with Cooler Climates
Panama is a tropical paradise, boasting high temperatures, high humidity, and very little seasonal variation. However, if you're looking for a cooler climate, the higher parts of the mountain ranges provide a welcome respite from the heat. With temperatures ranging from the mid-70s to the mid-80s, and humidity levels hovering around 80%, Panama is the perfect destination for those looking for a tropical getaway.
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6. The Sun Rises in the Pacific and Sets in the Atlantic
In Panama, you can experience a unique phenomenon - the sun rising in the Pacific Ocean and setting in the Atlantic Ocean. This is the only country in the world where you can witness this incredible sight, making it a must-see destination for anyone looking for a truly unforgettable experience. From the Caribbean coast to the Pacific coast, Panama offers a variety of landscapes and activities to explore, making it a great place to visit for a truly unforgettable vacation.
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7. A Major Hub for International Trade and Commerce
Panama is a major hub for international trade and commerce, boasting the second largest duty free zone in the world and the second largest registrant for offshore companies. This makes it an attractive destination for businesses looking to take advantage of the country's low taxes and relaxed regulations. The duty free zone, located in Colon, is home to over 1,000 companies and provides a wide range of services, including warehousing, distribution, and logistics. The offshore companies registered in Panama are also a major draw, as they provide a secure and confidential way to conduct business. With its strategic location and business-friendly environment, Panama is an ideal destination for businesses looking to expand their operations.
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8. A Country with a Diverse Agricultural Sector
Panama is a country with a diverse agricultural sector, producing coffee, sugarcane, bananas, cotton, veal and beef. It also has a thriving industrial sector, with food processing, chemicals, machinery, textiles and metal products all being produced. These products are then exported to other countries, with Panama's main exports being coffee, shrim, lobster, tobacco, cotton and bananas.
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9. Panama Canal: A Major Factor in Country's Economic Stability
The Panama Canal is a major source of economic activity for the country, accounting for approximately one-third of Panama's entire GDP. This vital waterway has been a major factor in the country's growth and development since its completion in 1914, connecting the Atlantic and Pacific Oceans and allowing for the transportation of goods and services between the two. The canal has also been a major source of employment for the country, providing jobs for thousands of people and contributing to the overall economic stability of the region.
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10. Panama City's Rainforest is a Unique and Popular tourist Destination
The bustling capital of Panama, Panama City, is unique in that it is the only city in the world with a rainforest within its city limits. This lush rainforest is home to a variety of wildlife, including monkeys, sloths, toucans, and more. It is a popular tourist destination, offering visitors the chance to explore the rainforest and its many wonders. The rainforest also serves as an important source of oxygen for the city, helping to keep the air clean and healthy.
More facts on
- Countries in Central America
- Countries in North America
- Transcontinental countries
- Spanish-speaking countries and territories