January 2009 - Issue 45  
Buy, Sell, Rent and Lease Real Estate in Panama
Beachfront Real Estate [168]
Ocean View Properties [438]
Near the Beach [261]
Panama City Properties [448]
Preconstruction [216]
Suburbs [157]
Mountain Real Estate [181]
Rivers, Lakes & Creeks [121]
Resort/Gated Communities [182]
Golf Course Community [22]
Development Opportunities [221]
Commercial Properties [91]
Casco Viejo Real Estate [6]
Priced for Quick Sale [225]
Island Real Estate [25]
Government Auctions [19]
For Rent [110]
Vacation Rentals [10]
Colon 2000 Home Port Inaugurated Last Month
Third Panama Canal Expansion Contract Awarded
Medical Tourism Takes Off
Unemployment in Panama Down to 5.6% in 2008
Experience Carnival in Panama
Featured Properties
Newest Additions
 
Featured Properties


Furnished 2 Bedroom Condo in Amador Hill of Amador Heights
$300,000


5 totally remodeled condominiums in Gamboa
$199,000


4 Bedroom Home near the Beach in Gorgona
$188,000


Estancia Santerra in El Valle
$71,250


Beach Front House for sale or rent - Great Price!
$299,900


Acreage with Stunning Mountain Views and springs just a few minutes from Penonome
$47,500


Newest Additions


Fully Furnished Penthouse for Sale or Rent
$295,000


Spectacular Secluded Estate with view of the Ocean
$1,700,000


4.25 Acre farm for sale just 30 minutes from David
$10,000


El Mare 200
$0


House in Chilibre
$190,000


Rental in La Ensenada, Farallon
$0


Oceanfront Miramar I
$490,000


Live in Punta Pacifica Panama
$170,000


Metropolitan 1
$0


Approved Condo Hotel Project for Sale with private beach access
$1,850,000


Full luxury oceanfront condo at competitive price
$450,000


Single family home in Diablo
$490,000

Colon 2000 Home Port Inaugurated Last Month

Colon 2000 is a new cruise ship terminal in Colon. It is a 10,000 square meter terminal that cost $15 million dollars to build. The port has capacity for over 2,500 passengers and 18,000 bags daily.

Royal Caribbean will use Colon 2000 as its home port, bringing throngs of tourists through the country in order to board the ships and begin their vacation. Analysts expect an increase in tourism in the country due to the exposure that Panama will receive. Other cruise lines that will use the port are Carnival Corporation, Celebrity, Cunard, Holland America, P & O, Princess, Radisson Seven Seas, Le Ponant and Regal Princess.

Royal Caribbean began offering cruises from Panama last year. Regional vice president Rama Rebbapragada said, “We are very excited to be the new home port today and are very excited to be back in Panama for a second season. Latin America has become a very important market for the company and being in Panama is part of our strategy to offer different cruise experiences to vacationers from all over the world.”

Florida has traditionally been the point of embarkation for Caribbean cruises. But due to recent visa restrictions in the United States, many Latin Americans were frustrated with the difficulty they faced when attempting to take a cruise with a large group of family or friends. Panama’s strategic positioning and more flexible visas are taking advantage of this growing market.

The 2,500 passengers who boarded the “Enchantment” for the inaugural cruise landed at Panama’s Tocumen International Airport. They were bussed to the Colon 2000 port where their week-long Caribbean cruise began. The trip will take them to Cartagena and Santa Marta in Colombia, Oranjestad in Aruba, Kralendijk in Bonaire and Willemstad in Curacao. On board, the tourists will enjoy Broadway-style shows and 24-hour room service.

Royal Caribbean executives estimate that the “Enchantment of the Seas” will set sail 20 more times from Colon in this season. Sales have already passed 60% of the ship’s total for the trips.


Third Panama Canal Expansion Contract Awarded
The Panama Canal Authority (ACP) has awarded Costa Rica's Constructora MECO the third of four dry excavation contracts to help create an access channel linking the new Pacific locks with the Canal's existing Gaillard Cut (the narrowest stretch of the Panama Canal).

Commenting on the contract award, the ACP's executive vice president of engineering and program management, Jorge L. Quijano, said, "This pivotal step in the process to build the new lane represents just one more example of the Expansion Program's steady progress. Constructora MECO is a leading construction company in Latin America with expertise in the execution of infrastructure projects such as this one.

The work will include excavation, removal and disposal of 8 million m3 of material, which will further reduce Paraíso (Paradise) Hill from 46 to 27.5 m above sea level. It also calls for the construction of about 2.5 km of access roads and the clearing of 190 ha of land containing munitions and explosives, remnants of US military training in Panama.

Expansion will build a new lane of traffic along the Panama Canal through the construction of a new set of locks which will double capacity and allow more traffic and longer, wider ships.

Medical Tourism Takes Off

By Ursula Kiener Ford - Pana-Health

“Medical tourism” is a buzzword of late in Panama, but what exactly does it mean? Sometimes called “medical travel”, it is the globalization of health care. There are many reasons why people will travel to another country to receive medical treatment: cheaper costs abroad, innovative technology, shorter waiting periods, or better quality than one’s country of residence. Medical tourism has been the subject featured on the covers of magazines such as Time, Newsweek, US News. The consulting firms McKinsey and DeLoitte have also released positive reports on the growing trend.

The cost of health insurance increased 91% in the United States between 2000 and 2007 (compared to a 24% increase in wages). Many people do not have health insurance and most Americans cannot afford medical procedures. And even when one does have insurance, not all procedures are approved for coverage, especially those which are considered “elective procedures” like plastic surgery or dental work.

Add on the widespread recession and increasing deductibles and the result is the need to save money more than ever. But people cannot afford to cut back on health care, so the globalization of this industry is the perfect solution.

Medical tourism is becoming more and more common, so much so that even insurance companies such as Companion Global Healthcare, Blue Cross Blue Shield, Aetna, and WellPoint are releasing plans allowing clients to travel overseas for medical expenses.

Panama is the perfect place to go. Doctors in Panama are trained abroad, many in the United States. Expat Sandey Stayanoff from the United States who has 33 years of nursing experience told me: “I have been very impressed with the level of medical care I have seen here and received here. I moved here preparing to be highly skeptical of what medical care I would find here. I have been pleased and more than once.” Now, she and many other expats encourage their family members to be treated in Panama because of the reduced costs and high quality of treatment.

Hospitals in Panama have international affiliations. The most well known one is Hospital Punta Pacifica’s partnering with John Hopkins Medicine International. But other hospitals have affiliations to Baptist Health, The Cleveland Clinic, Tulane Health, Miami Children’s Hospital, among others.

Panama provides people with less culture shock than other destinations because it has direct flights to most major cities in the USA and uses the dollar. The country has very modern infrastructure and 14% of the country speaks English. Being in the insurance industry, I noticed that most insurance plans do not cover preventative medicine and that most people do not actually do routine checkups, which results in complications later in life. Preventative medicine, including routine checkups, lab work, EKGs, is something which a tourist can take of advantage while they are in the country.

People considering traveling for medical reasons should be aware that the main purpose of their visit is to get the procedure done, more than a vacation. Guidance in this process is essential; this is why medical tourism companies such as Panahealth Corp. exist.

For those coming for invasive surgery, we offer full concierge service, including pickups to and from the airport, a companion to doctor appointments, hotel and tour booking, a cell phone, and personalized attention from one of our medical coordinators in English, at no cost to you.


Unemployment in Panama Down to 5.6% in 2008

Unemployment in Panama dropped to 5.6% in 2008 according to the Ministry of Labor, and they estimate that in 2009 the Panamanian economy will maintain the conditions necessary to continue to generate new jobs. "One should not fear an apocalyptic scenario because there are conditions to generate dignified and decent jobs," said Labor Minister Benjamin Salamín today, Wednesday, making reference to the international financial crisis. Salamín said unemployment in Panama was at 14% in 2004 and that it has been continuously lowering. "2008 closed with an unemployment level of 5.6% which is very positive - it means approximately 215,218 new jobs have been created in the country," he said.

The economic activities that have contributed more to the creation of new jobs are commerce, construction, and tourism among others. The government has said sustained growth of the economy based on public and private investment has allowed Panama's poor access to new jobs.


Experience Carnival in Panama

Since the early 1900s Carnival has been celebrated in Panama four days prior to Ash Wednesday. During this extensive celebration, all the regular activities in Panama come to a stop and the streets are suddenly overflowing with confetti, costumes, masts, parades and floats. Carnival celebrations are held throughout Panama, but the largest are in Las Tablas and Panama City.

Las Tablas is situated approximately 130 miles to the west of Panama City. You will find the folkloric atmosphere in Las Tablas to be the ideal place to celebrate Carnival, with its unique blend of creative costumes and colorful floats and a fun filled rivalry among locals as they compete with one another to come up with the most original designs.

In Panama City, the celebration kicks off with the crowning of the Carnival Queen and her court. This is definitely a Carnival event not to be missed. Throughout the entire festival there are also a number of other events scheduled, including numerous dancing and eating events that are hosted by various hotels throughout the city.

On the first day of the festival you will get a small taste of what is to come. A friendly atmosphere full of people intent on socializing and having fun descends upon the city. The party atmosphere continues on throughout the night and over into the next day when the pollera parade is held. During this event literally thousands of girls and women don the country’s colorful national dress as they participate in a large parade. Perhaps the biggest day of the event takes place on Shrove Tuesday. This day is marked with some of the brightest and best floats and a city-wide party that continues well into the wee hours of the next day.

The 2009 Carnivals will be celebrated from February 21 to February 24.


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