Panama City

Panama City is a vibrant, modern and beautiful metropolis that has not forgotten its past as it moves forward into the 21st century. Since the departure of the last U.S. troops from the Canal area in 1999, the city has experienced dynamic growth, becoming a world-class center for business, investments and tourism, leading some to call the city “The American Dream of the South.” For this and many other reasons, a large number of former residents from Colombia, United States and Canada now call Panama City home.

Panama City is growing in area and in height, as it currently experiences an impressive construction boom of glass-and-steel skyscrapers, some of which will reach the 100-story mark (including the tallest buildings in Latin America.) The city’s metropolitan area is home to over 1,100,000 residents. As a blossoming cosmopolitan metropolis – Panama City features numerous tourist attractions, world-class hotels and fine restaurants.  Tourism is a fast growing industry in the city, which has a considerable share of historic landmarks and monuments, along with the Panama Canal as its next-door neighbor.

The city has two modern airports, the recently-remodeled Tocumen International Airport, located in the eastern outskirts of the city, accessible via the Tocumen Highway and the new Corredor Sur expressway and the Marcos A. Gelabert Airport, servicing domestic and international flights, located in the former U.S. air base of Albrook.

Panama City also has a number of art galleries which frequently exhibit works by Panamanian and international artists. The some of the country’s best museums are located in the city such as the Contemporary Arts Museum (MAC), the Reina Torres de Araúz Anthropology Museum (MARTA), the Panama La Vieja Museum and the Inter-Oceanic Canal Museum.

Interesting facts about Panama City:

-  The city’s climate is rainy most of the year, from May to December. The dry season, which locals call “summer,” extends from January to April.

-  Panama City is the economic, political and administrative center of the country. It is the seat of the National Government and of 35 permanent diplomatic delegations

-The country’s capital is considered an International Banking Center with 75 banks, among them 17 Panamanian financial entities and one multi-national bank. The rest are foreign-owned. The list of Panamanian-owned banks includes Banco Nacional de Panama and Caja de Ahorros (managed by the State), Banco General, Banco Continental, Global Bank, Multicredit Bank, Metro Bank and Tower Bank private-owned.)

Some of the best-known international banks in Panama are: HSBC, BBVA, BLADEX, Standford Banks, Scotiabank, among others.

-   The city is a prestigious insurance and re-insurance center and features a growing stock market.

-  Panama City is a shopping paradise, where shoppers will find merchandise from all parts of the world at excellent prices. It features traditional shopping avenues as well as world-class malls, including:

Albrook Mall next to the bus terminal (303-6255;) Flamenco Shopping Plaza Amador, on the Amador Causeway (314-0908;) Mall Multipaza Pacific, on Vía Israel (302-5380/5381;) and Multicentro, on Avenida Balboa, in the neighborhood of Paitilla, 208-2500.