The Vortex of Consumption in Panama

Every dollar changes hands 28 times a month, compared to the 6 times that it does in other Latin American countries.

Thursday, December 5, 2013

An article in Panamaamerica.com reports that the voracious consumption rate is primarily caused by Panamanians "free markets, open trade policies and the environment of doing business that allow prices to be affordable and quality good."

A second factor is the very high level of liquidity in the economy of Panama: "There is an excess of money in the street and people use it to buy and consume."

Thirdly, there is the velocity of circulation of money, which is much higher than other countries in the region.

Mainstream consumer psychology is the factor which helps us to understand the feverish consumerism in Panama . . "In Panama if there is no party to buy for they invent one. Which explains how easily Black Friday was adopted. There will soon arrive Red Monday and Green Sunday. We consume to live and we live to consume."

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