Increase in Tourism Expected in Panama

Tourists and Panamanian residing abroad take advantage of Europe's summer vacations, July and August, to visit the country.

Thursday, July 9, 2009

Spanish airline Iberia has already restarted its fifth weekly flight Madrid-Panama, a route that was suspended through April and May. The airline reports 78% occupation in July, and is forecasting 86% for August.

Gloria Clavel, Iberia Panamá manager, was quoted in as saying: "These are very good months, in terms of occupation, because relatives living there visit those living here and vice versa. Additionally, more tourist arrive because of the summer."

More on this topic

Tourist in-flow increases but Hotel Occupancy Falls

July 2014

In Panama the increase in room supply has caused a price war between hotels trying to attract travelers and increase the occupancy rate which on average is not more than 60%.

Hotel occupancy in the country has been declining since 2011, when it stood at 68.6% dropping to 59.3% within the sector this year, according to figures from the Tourism Authority of Panama (ATP).

Panama: Tourists Arrivals From Europe Up 20%

June 2014

In the first four months of the year there were 73,788 European visitors, with Spain leading the list with 19,561 tourists, followed by the French with 10,553 and the Germans with 8,221.

According to figures from the Tourism Authority of Panama, European tourists are spending more per day and on average their stays are for 9.3 days.

Hotel Profits Down 20% in Panama

June 2014

Although the number of tourists coming to Panama City continues to grow, there is still an oversupply of rooms, and in the last 3 years average occupancy has fallen by 10%.

The prevailing oversupply in the sector has begun to affect hotels, whose financial profits have been reduced by 20%.

Costa Rica Negotiating With European Airlines

October 2009

The Tourism Minister informed they are having talks with two companies, and they could announce good news next year.

Currently, there are few flights between the country and the European Continent (Iberia operates a daily frequency, and Condor two per week). According to the tourism authority, this is limiting the growth of the industry.

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