Economy

In short: Panama closed 2025 with 3,004,266 international visitors, the first time it has passed three million, and tourism revenue of 6.583 billion dollars. In the first half of 2026 growth accelerated to 17.4%, with 1,755,998 visitors and spending of around 3.7 billion. Tocumen Airport moved almost 21 million passengers in 2025 and projects 23 million for 2026, cruises are growing 21.6% and international conferences have doubled. The World Travel & Tourism Council forecasts that the country's tourism GDP will grow 8.4% this year. Behind the figures lie concrete opportunities for hotels, transport, food, real estate and professional services. Contents…

In short: Panama maintains four special regimes to attract companies with international activity. The Colón Free Zone, the largest free trade zone in the Americas, moved 22.615 billion dollars in 2025 according to preliminary figures from the Comptroller's Office and has more than 2,600 companies dedicated to re-exporting. Panamá Pacífico, on the former Howard base, combines a special economic zone, logistics and offices under Law 41 of 2004. The SEM regime for multinational headquarters, created by Law 41 of 2007, brings together 192 companies and some 10,000 jobs. The EMMA licence, under Law 159 of 2020, covers manufacturing and production-related…

In short: the Panama Canal is the largest source of direct income for the Panamanian State and the axis of its logistics platform. In fiscal year 2025 it billed 5.705 billion dollars, 14.4% more than the year before, and handed the National Treasury 2.965 billion in surplus, per-ton fees and charges, the highest figure in its history. From the time Panama took over its administration in 2000 through 2024 it had contributed 28.267 billion dollars, more than half of it earmarked for public investment. Radar Panamá explains how it generates that money, how it reaches the budget, which sectors live…

In short: a company operating in Panama pays income tax of 25% on its net Panamanian-source income, charges and passes on the 7% ITBMS if it exceeds the turnover threshold, withholds dividend tax when it distributes profits, pays each year the Notice of Operation tax of 2% of its equity and the flat annual fee of 300 dollars, and bears the employer contributions to the Social Security Fund and the education insurance on its payroll. Companies that only generate income outside the country pay no income tax, but do pay the flat fee and the resident agent. This Radar Panamá…

In short: Panama's economy rests on five pillars that reinforce one another: the US dollar as legal tender since 1904, the Canal, an international banking centre with more than 160 billion dollars in assets, a logistics and services platform built around the interoceanic waterway, and a territorial tax regime that only taxes income generated inside the country. With them, gross domestic product grew 4.4% in the last full year measured by the National Institute of Statistics and Census, to 90.462 billion nominal dollars, driven by transport and Canal tolls. Its weaknesses are structural too: double-digit unemployment, informality close to half…