Panama to Grow 9.9% in 2021: World Bank
The World Bank has released their global estimated growth rates for 2021, and Panama is leading the pack. Latin-America and the Caribbean have been one of the regions most economically affected by the COVID-19 health crisis, having suffered an economic decline of 6.7% during 2020. However, there is light at the end of the tunnel, with forecasts estimating that the region will grow an average of 4.4% during 2021. However, Panama is projected to more than double that growth rate.
Panama benefits from an economical stability that is unique to the region, due to its service based economy and consistent revenue pull from the Panama Canal – one of the main forces in global commerce. One of the most reliable sources worldwide in regards to economic projections, the World Bank, estimates Panama will grow by 9.9% in 2021, an unparalleled growth rate that makes it by far the leader in the region. Honduras and El Salvador are projected to take 2nd and 3rd place, with growth rates of 4.5% and 4.1% respectively.
These projections are already strengthening investors’ interest in the country, since they prove once again that the small Central-American nation is resilient and continues to bounce back economically, even after circumstances far out of its reach that have caused economic turmoil in other nations. As a result of strong growth prospects and continued political stability, Panama is seeing an influx of investment from throughout the region, with strong interest in the real estate sector coming from Peru, Mexico, Chile, Colombia and Brazil in particular. Investment is on the upswing from Canada and the United States as well.
If you are interested in investing in Panamanian real estate, don’t hesitate to contact us. We have many options, ranging from simple investments around $50,000 USD with a Buy-Back guarantee, to elite designer apartments that you can buy at exclusive pre-sale pricing.