The New York Times Rates Panama as the #1 place to Go In the world!
It’s been 12 years since Panama regained control of its canal, and the country’s economy is booming. Cranes stalk the skyline of the capital, Panama City, where high-rises sprout one after the next and immigrants arrive daily from around the world. Among those who have landed en masse in recent years are American expatriates and investors, who have banked on Panamanian real estate by building hotels and buying retirement homes. The passage of the United States-Panama free trade agreement in October is expected to accelerate this international exchange of people and dollars (the countries use the same currency).
Among the notable development projects is the Panama Canal itself, which is in the early stages of a multibillion-dollar expansion. The project will widen and deepen the existing canal and add two locks, doubling the canal’s cargo capacity. For those who want to see the waterway as it was originally designed, now is the time. The expansion is expected to be completed by 2014, the canal’s 100-year anniversary.