Panama: Fewer Tourists Spend More Money

Between the first quarter of 2017 and the same period in 2018, the number of visitors that arrived in the country registered a slight decrease of 1.4%, but the overall expenditure made by them increased by 2.7%.

Thursday, May 31, 2018

According to sector's figures, between the first quarter of 2017 and the same period of this year the number of tourists fell from 734,000 to 723,000, and the currencies received registered a slight increase, going from $302 million to $310 million.

The president of the Panamanian Hotels Association, Armando Rodríguez, explained to Prensa.com that " ... the high season of 2018 was slightly better than last year, but he indicated that they are far from the numbers that the sector saw seven years ago, when they had 70% occupancy rates in the months of greatest activity. 'The results of these first months indicate that the rest of the year will not be positive'." 

"For his part, Gustavo Him, administrator of the Tourism Authority, said that important markets for Panama such as Argentina and Brazil are recovering and hope that the situation improves in the coming months. He added that they are preparing a specific campaign to increase the entry of South American passengers, a region that showed a negative trend in the first quarter of the year." 

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More on this topic

Panama: More Tourists from Europe, Less from North America

September 2016

The number of visitors from North America who came into the country between January and July fell by 3% year on year, while the flow of European tourists grew by almost 7%.

In order to recover some lost ground in the US, Canadian and Mexican markets, an important part of international tourism promotion contract for the next two years will be run in North America. In the first months of the year the number of Canadian tourists who arrived in Panama fell by 27% compared to the same period in 2015, the flow of Mexican tourists fell nearly 5%.

South American Tourism Grows in Panama

June 2014

Colombians, Venezuelans and Brazilians make up the majority of tourists coming from South America, while there has been a rebound in the arrival of Ecuadorians and Paraguayans.

Efforts to promote tourism made by Panama and the improved economic performance of the countries in South America account for most of the visitors arriving in the country from that region.

Hotel Occupancy in Panama Improves

May 2013

During the first four months of 2013 the convention and congress sector revived the hotel sector which recorded an average occupancy of 61%.

Prensa.com reports that "in total, between January and April 831,593 visitors were reported, which is an increase of 4.4% with 34,893 additional travelers compared to the same period last year."It is estimated that during this period about $847.7 million entered the Panamanian economy.

More Hotel Supply than Tourist Demand

June 2012

The average occupancy of hotels in Panama during the first four months of 2012 was 62.6%, 6% lower than in the same months of 2011.

The opening of new hotels and less tourists entering has influenced the dip in occupancy rates.

According to projections, in order to maintain the occupancy rates of hotels with the opening of new hotels, tourist numbers need to increase by 12%, but the reality has been different.

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