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Economy / Panama

Macroeconomic Forecast Panama

May 2012 | Macroeconomic Forecasts

More than 2mn tourists visited Panama in 2011, bringing US$2.5bn into the economy and establishing the country as a 'tourist hotspot' according to local and international press. The government's initial goal had been to reach 2mn visitors by 2014, suggesting the country is well ahead of schedule, despite tepid growth in much of the developed world which had seen weak tourism sectors in many nearby Caribbean economies. With increasing investment into the sector, we expect substantial growth in coming quarters will continue to bolster the economy, in line with our 2012 real GDP forecast of 8.1%.

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