Corona Virus in Panama / Update 09. Dezember 2020

Corona figures in Panama had improved significantly from August to November, so that all economic sectors and tourism in Panama are open again. I have summarized my impressions during my November trip in this VIDEO (link to click). At the beginning of November, the national holidays led to an increase in private parties, which has resulted in higher case numbers since the end of November. However, Panama currently performs more tests per capita per day than e.g. Germany, which explains part of the increased case numbers.

Health (figures as of 07 Dec 2020)

• There are currently 179,230 cases and 3,212 deaths.
• The R-value is 1.18
• The mortality rate is 1.79% (global average 2.29%)
• After the USA (world leader), Panama carries out the most tests per capita on the American continent.
• The percentage of positive tests was around 10% at the beginning of November and currently fluctuates daily between 14 – 19%.
• The intensive care beds have never been fully utilized.
• In Panama, Pfizer / Biontech vaccines are expected to be available in Q1 2021. In addition, vaccine doses have also been ordered from AstraZeneca. Basically, the population of Panama is vaccine tolerant.
• The graph shows the weekly development (March – December) of new infections (bars) and the test positive rate (curve). The strong increase in June began with the opening of the first economic sectors. The increase at the end of November is due to the public holidays at the beginning of November and the immense increase in the number of tests performed daily (data link).

Economy

• All economic sectors are reopened.
• After the Panama Canal ended its fiscal year (30/09) with a turnover increase of 1.2%, the last turnover reports of the Canal Authority are also positive. In particular, business with Asian trading partners has picked up strongly again.
• Many restaurants, hotels and stores have not yet reopened.
• Current estimates assume economic growth of -9.3% in 2021 (2021: +6.4% / 2022: +5.1%) and an unemployment rate of 13.9% (2021: 9.8% / 2022: 8%) (Info-Link).

Life in Panama

• The government in Panama has introduced a “traffic light system” for the different districts of Panama, which shows the current level of risk. Different restrictive measures are then associated with the respective color. The risk is measured by the R-value, the mortality rate and the utilization of intensive care and hospital beds (info link).
• Since December 03, violations of the corona regulations have been punished by cancellation of the corona aids for the persons involved.
• In the greater Panama City area, for example, there is currently an curfew from 09.00pm – 05.00am and a prohibition of alcohol during this time.

Travel to Panama

• Panama has received the “Safe Travel Country” certificate from the “World Travel & Tourism Council” due to the corona measures introduced (info link).
• Since 12.10. the international airport of Panama City is open again.
• Travellers (no matter from where in the world) have to present a Corona negative test (max. 48 hours old) or alternatively make a quick test (results after 20 min) at the airport in Panama for 50 USD. If this test is positive, the person will be quarantined in Panama.
• Beaches and other tourist facilities are open.

FRAPAN-Invest

Klaus Happ’s company “FRAPAN-Invest” advises investors who want to invest in real estate in Panama. Furthermore, Klaus Happ will be happy to advise you personally on the subject of “Plan B in Panama”.

The real estate market in Panama is internationally one of the most interesting for investments. We would like to be your trusted local partner and assist you with the initial purchase. Additionally, we can take care of your real estate in Panama in a sustainable way.

Profitable, safe and beautiful:
Investments in Panama