Panama: Tourist Spending Continues to Slow Down

From January to October 2017, tourist spending grew by only 1.6% compared to the same period in 2016, significantly lower than the 13% recorded between 2015 and 2016.

Friday, December 22, 2017

According to figures from the Office of the Comptroller General of the Republic, during the first ten months of the year tourists who arrived in the country spent $3.798 billion, an amount that exceeds by $60 million the $3.738 billion registered in the same period in 2016.

See: "Will Chinese tourists come?"

For the periods in question the number of tourists increased from 6.3 million in 2016 to 6.7 million in 2017, however, this line also recorded a slowdown, since the growth of 2017 versus 2016 was 5.7 %, very far from the 11% increase between 2015 and 2016.

See statistics by the Contraloria. (In Spanish)

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More on this topic

Tourism: Income Doesn't Improve

November 2019

Between January and August 2019, approximately 1.5 million tourists arrived in Panama, generating revenues of close to $3,314 million, 1% less than the amount reported in the same period of 2018.

The most recent report of the General Comptroller of the Republic of Panama details that between the first eight months of 2018 and the same period of 2019, the expenditure made by tourists who arrived in the country decreased by $32 million, going from $3.346 million to $3.314 million.

Tourist Expenditure Increases to 4%

October 2019

During the first semester of 2019, foreign tourists in Costa Rica spent $2,228 million, exceeding by 3.8% what was reported in the same period of 2018.

Data from the Central Bank of Costa Rica indicate that between January and June 2018 and the same period in 2019, tourist spending increased by $81 million, from $2,147 million to $2,229 million.

Panama: Tourist Spending Slows

November 2017

In the first nine months of the year, tourist spending in the country grew by 2.7% compared to the same period last year, well below the 11% increase registered between 2015 and 2016.

Figures from the Comptroller General of the Republic show that at the end of the third quarter of the year tourists who visited Panama spent $3.499 billion, while in the same period in 2016 theses expenses amounted to $3.407 billion. 

Tourism Numbers Growing in Panama

June 2015

Between January and April this year, 2.4 million tourists came in, with expenditures of $1.29 billion, up 8% and 15% respectively compared to the same period last year.

The same upward trend can be seen when looking at monthly data on expenditures, which went from $308 million in January to $322 million in April, confirming the rise in visitor spending.

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