Most Common Interesting Facts About Panama

Panama Expat — Sat, 12 Dec 2009 20:46:11 +0000

As Panama is mostly visited by tourists as a developing country and one that is involved in trade, tourism, real estate, commerce, and banking, it can be observed that there are many interesting facts about Panama that may range from infrastructure, economy, politics and its culture. The interesting facts about Panama leave a trademark of what Panama is all about. There are several points that can be marked but we can just limit it to the six most common among many observations on Panama.

First, the most common interesting fact about Panama is the Panama Canal. Aside from real estate, the Panama Canal is one of the popular things when you talk about Panama. The canal is the waterway which joins the Atlantic and Pacific oceans. It becomes interesting because of its complex engineering structure that makes it the most difficult and largest project ever undertaken Panama. Ships from the two oceans emerge in this canal making it a conduit of most international shipping. Travel time from the Pacific Ocean to the Caribbean Sea is only two hours when you pass by the Panama Canal.

The second common interesting fact about Panama is its currency. Panama uses the US Dollar for bills but the coins are called Balboa. Yet, the official national currency of Panama is the Balboa, which is pegged to the US Dollar.

When it comes to population, there are also interesting facts about Panama. Although it is the most industrialized country in Central America, Panama real estate is really affordable, and Panama has the lowest population in Central America. Its population is composed of 70% mestizo that comprises a mixture of Europeans and Native Americans. Panamanians speak mostly Spanish although most can relate to English.

Again, one of the common interesting facts about Panama is that the place Boquete is one of the best destinations for retirees per Modern Maturity magazine. In other popular magazine, the International Livings, Panama is the number one place in the world to retire. Basically, there are many real estate buyers and investors in Panama that are retirees. They enjoy the affordability and tax incentives in Panama for real estate.

Another interesting fact about Panama is that it has large number of banking and financing institutions. Because banking forms part of its main economic activity, Panama has several banking laws that protect business from foreigners. The total number of these banking laws is 40 and this includes banking privacy law and foreigner to local equality laws.

Finally, for miscellaneous observations, there are also interesting facts about Panama. Baseball is the most common sports in Panama together with boxing and soccer. If Hong Kong has the largest duty free zone, Panama has the second largest. Also, it has the second largest registrant for offshore companies second to Hong Kong.

Of course there are still many interesting facts about Panama in other aspects in the society that you can observe or read from books about Panama, but the most common are the above. You can readily pinpoint other interesting facts about Panama when they differ from the current place and culture from which you live or when the certain facts are unique only to Panama.

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Most Common Interesting Facts About Panama