Panama: 6% Increase in Income of Hotels and Restaurants

Between January and September 2010 the total turnover was $ 650.6 million, 6.2% higher than the same period of 2009.

Monday, January 24, 2011

Details of the Comptroller General's Office indicate that the amount invoiced by hotels and restaurants in the district of Panama and San Miguelito was $ 545 million, 5.6% higher than the same period of 2009.

"But statistics show that in the rest of the country revenue from hotels and restaurants had a higher growth. Gross income was $ 105 million, 9.2% more than in 2009," reported Prensa.com.

More on this topic

Panama: Restaurants and Hotels Growing

July 2012

During the first quarter of 2012 revenues of restaurants and hotels grew by 11.3% compared to the same period last year.

Revenues from restaurants and hotels were $255 million in the first three months of the year, $25.8 million more than in the same period in 2011, according to the Controller General of the Republic.

Revenue Grows at Panama Canal

April 2010

In the first quarter of 2010 the Canal netted $359.7 million in revenue, 3.1% more than the same period of 2009.

The Economy and Finance Ministry (MEF) reported that revenue increased despite a 4% drop in the number of vessels passing through the Canal.

MEF explained that fewer vessels carried more cargo due to more efficient use of available space.

Panama’s Revenues Grow

April 2012

The amount collected by the State of Panama during the first three months of 2012 was what was budgeted, exceeding the expected amount by 5%.

From a press release from the Ministry of Economy and Finance of Panama:

Current revenue during the first quarter of 2012 amounted to $1.5495 billion, exceeding the amount budgeted by $73.6 million (5%) and the results from the same period in the previous year by $294 million (23.4%), said the Deputy Finance Minister Mahesh Khemlani at a press conference.

Panama Canal Revenue Increases in $68 Million

September 2009

Despite a traffic reduction of 4%, revenue for the first half of the year was up 9%.

This is due to an increase in transit fees to container ships and passenger vessels larger than 30.000 tons.

Regarding the reduction in traffic, a study by the Panamanian Economy Ministry detailed that "the most affected route was U.S.-Asia, with a 10% decrease.

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