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Panama City - The Vibrant Metropolis

by Dorcas Jordan (2020-09-07)

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Panama City is the national capital of the Republic of Panama and also the provincial capital of the Panama Province, as well as the largest and most modern city in the country. There are over 1.5 million people residing in the metro Panama City area.

Panama City is a highly multicultural place, with a large diversity of people coming from different parts of the world. Spanish is the official language here, tour hồ ba bể and many speak some English too.

Situated on the Pacific Coast at the entrance of the Panama Canal, the City is the political and administrative center of the country. It is also a hub for international banking and commerce. Panama City is the center of banking as it is home to the most modern and successful International Banking Center in Latin America, which offers investors more than 100 banks from over 32 countries across the globe. The city also has a sophisticated technical infrastructure and fiber optics.

The City's is the economic and financing center of the country, and its economy is mostly service-based, and heavily leans towards tourism, banking, and commerce. The economy depends significantly on trade and shipping activities with the Panama Canal and port facilities situated in Balboa on the Pacific side. The city has witnessed impressive economic growth recently, mainly because of the 5.2 billion dollar expansion of the Panama Canal, a striking increase in real estate investments, and a stable banking sector.

Tourism is one of the most crucial economic drivers that generate substantial revenue. The number of hotel rooms rose by more than ten-fold from 1997 to 2013, with 1,400 and more than 15,000 respectively.

The country has become a vibrant modern metropolis, with various modern high rise buildings overlooking great views of the city in exclusive residential areas. This includes Punta Pacifica, Punta Paitilla, Bella Vista, Costa del Este, Avenida Balboa, El Dorado, and San Francisco. These areas offer a diverse range of upscale apartments, houses, and condominiums for sale.

Panama has a rich history. It was actually the first to be explored by Christopher Columbus and also the place where the Pacific Ocean was first discovered by the Europeans. When Pizarro and tour thác bản giốc his army managed to steal all the gold and silver from the Incan Empire, they were shipped to Panama and stored in Panama City. The gold and silver were deposited in the treasure house on the Caribbean bayside town or Portobelo where they awaited transport to the Old World. Panama City continued to flourish as an important colonial port until it became the favorite target for pirates with the intent on snatching the Spanish wealth. In 1668, Henry Morgan managed to sack the original Panama City (known as Panama Viejo), set it on fire, and leave the ruins which have been preserved and a must-see for visitors.







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