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Sunday, April 21 2019 @ 06:08 PM UTC

Tourists Spent $923.8 Million In Panama During First Five Months of 2012

Travel & TourismThe total expenditure of the tourists who visited Panama from January to May 2012 was 923.8 million dollars, at the rate of $416.14 per passenger, which indicates that the entry of foreigners increased by 21.1%.

This was revealed by a report from the Department of Social and Economic Analysis of the Ministry of Economy and Finance, which highlights that the increase in visitors also allowed an increase in the average number of hotel rooms occupied per day, up from 3,973 last year to 4,831 this year.

On the above, the report explains that because of the increase in the number of hotel rooms operating in Panama City, with 2,137 new rooms added or an increase of 36.5%, the overall rate of hotel occupancy declined from 68% last year to 61.3% this year. If there was no increase in the number of hotel rooms, occupancy rates would have increased to 82%.

The report shows that the activity of hotels and restaurants also exceeded last year's. Through May 2012 there was a total of 2.2 million passengers, or 22% more than last year. Of the total, there were 895,486 visitors (676,969 tourists, 56,581 on excursions, and 161,936 cruise ship passengers), increasing by 7.4% compared to 2011.

On average, the total number of visitors have increased by 6.6% every year since 2009, in response to an effort to increase the number of air links from any destination, for both local and foreign airline companies.

According to the document, with respect to conventional tourism, which has led to the arrival of the visitors, are the possibilities for shopping and conducting multinational conventions or associations. The report talks about the conventions that have taken place during the past two years, because Panama offers, free of charge, the facilities of the Atlapa Convention Center for those meetings that can ensure a minimum of at least 1,500 participants, staying at least one night in the hotels of the city.

"The plans to boost the tourism sector continue. One is the increased number of connections. The companies continue to negotiate new frequencies for the coming months", highlighted in the report, which reveals that through May 2012, the statistics of the Civil Aviation Authority indicate the connections where visitors were landed were from Bogotá (Colombia), Miami (USA) and Caracas (Venezuela).

"The places where fewer visitors landed were from Seattle and Indianapolis in the U.S. and Cayman Island in the Caribbean. In another 14 connections, no passengers were reported," says the report. (Estrella)

Editor's Comment: Tourism has been growing strongly in Panama during the past ten years or so. An average increase of 6.6% per year is excellent. This is just one more sector of the Panamanian economy that continues to expand and grow, excellent news for the overall economy. Very often future residents start their Panama experience by visiting a few times as tourists. It's nice when a tourist comes here to spend a few thousand bucks. But it's even better when they come here to spend a few hundred thousand dollars, to buy a house, buy a car, and spend all of their retirement money. So, while tourists are great, expat residents with an income and money in the bank are even better.

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