Panama Reinforces Image as Tourist Destination for 2024

Recently, Panama was recognized for the third consecutive year as the “Best Leisure Destination” in Latin and South America by the Leisure Lifestyle Awards, organized by the North American magazine Global Traveler.

In an effort to consolidate its reputation as a world-class sustainable tourism destination, Panama has made significant progress during the 2023-2024 season.

The Panama Tourism Authority (ATP) – an entity of the Government of the Republic of Panama – noted in a report that it has implemented various strategies and projects, resulting in a notable increase in the flow of tourists and the international recognition of its tourism brand.

Panama’s tourism revenues exceeded the same period of the previous year by $123.5 million.  This growth is due to several factors, including an increase in leisure tourism versus business tourism, international promotion efforts and improved connectivity have been key to this success.  Currently, the nine priority markets include countries such as Colombia, the United States, Brazil, Argentina, Canada, Germany, Costa Rica, Spain and France, which represent 61.8% of the tourists arriving in Panama.

The hotel sector has shown significant improvements, with an increase in the average daily rate, which provides competitiveness indicators and analysis of the hotel market.  Additionally, vacation rentals have seen a notable increase in demand during the first quarter of 2024, compared to the same period in 2023, boosting revenues and occupancy.  The Panama Tourism Authority noted in a report that it has implemented various strategies and projects, resulting in a notable increase in the flow of tourists and the international recognition of its tourism brand.

Sofitel Legend Casco Viejo (Panama City)

Notable projects include the rehabilitation of visitor centers, the acquisition of electric buses for historic centers and the supply of drinking water and sewage in Taboga.  These initiatives not only improve tourism infrastructure, but also promote sustainability and local economic development.

Recently, Panama was recognized for the third consecutive year as the “Best Leisure Destination” in Latin and South America by the Leisure Lifestyle Awards, organized by the North American magazine Global Traveler.  This recognition highlights Panama’s performance in the leisure, luxury and lifestyle travel segments, commitment to sustainability and innovation.  The ATP emphasized the importance of sustainability in its strategies, seeking to ensure that tourism development is compatible with the conservation of the environment and local culture.

President Laurentino Cortizo launched the “tourism, conservation and research (TCI)” development strategy, which includes the creation of a Destination Management Committee and the promotion of a new National Tourism Law.