Economic Growth Potential Makes Panama a Hot Property Investment

I have just read an excellent article on Panama property investment, written by Liam Bailey for the Overseas Property World blog on Wordpress.

It explained the massive boost the Panama economy is going to receive even before the Panama Canal expansion is completed in 2014.

The Panama Canal is one of the biggest contributors to Panama's GDP, and it is a well known fact that the completion of its expansion will be a massive boost to Panama's economic growth, which had average 10% in the few years preceding 2008.

Bailey also pointed out that the Canal Expansion is already proving to be a boost to Panama's GDP, because in advance of the massive boost its completion will be, Panama has become a hot investment tip, for property and all sorts of other investments. In fact, this is the reason why Panama's economy is continuing to grow (3% this year and 4% next according to International Monetary Fund forecasts) throughout the global economic crisis according to Bailey.

But Panama's economy is to receive a massive boost before the expansion is completed. Bailey believes that when global economies, including the US begin to recover, use of the Canal and neighbouring Colon Free Trade Zone will increase GDP growth, as will tourism and exports, which Bailey believes will also start to grow post-crunch.

Increased imports into America as the economy recovers will benefit many South American markets as well as many more around the world, including Italy.

Bailey forgot to mention the fact that property prices are still comparatively low in Panama, increasing the potential of it as an investment.