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New Construction in David

Old buildings are being torn down as new construction in David is booming.

New mini malls are springing up with new start up businesses all over the city in addition to the newly added chains from North America that are now here.

One new mini mall in David on Calle Miguel Angel Brenes, Mall Jerusalem has filled up fast. It now has a new Novey hardware store, Arrocha pharmacy, Subway, a nice stationery store, Dollar Store, Warala Coffee Shop, Vianney bedding store, another Gelarti ice cream place and a few more empty stores that will soon be full.

Another modern new mall is located by the Fire station. It is a full block long and currently only has a few stores open, but they include a Vitamin Shoppe chain store from the US , a very upscale jewelry store and another Wing Zone restaurant.

 

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David Grocery Stores

David is adding grocery stores all the time. As the economy grows people have more disposable income for groceries and not just staple items.

Once most grocery stores were located where the mass of the population was highest. Now, however stores are popping up on the outskirts of the city or in neighborhoods previously having no such conveniences.

Always leading the way having the most stores is Romero’s. In addition, now David has two Super 99’s and six Super Baru’s and of course Supermarcado Rey at Plaza El Terronal.

We are expecting a Riba Smith soon in David. This is a grocery that has everything including a lot of imported items from North America as well as well-known brands from all over the world.

Another new grocery opened up recently the Dorado Center. It is pleasant to go inside and find nice wide aisles, clean spaces and well stocked shelves.

In addition, a new grocery is being built on the Interamericana highway. No date for the opening yet.

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New Convention Center to be Built in Boquete

Alcaldía De Boquete has announced that a new convention center will be built in Boquete. This will be the second convention center in Latin America that will be built eco friendly.

The design will be based on modern architecture that will also complement the environment and surroundings. It will also be eco based.

The new convention center will provide seating for over two thousand people; have a theme park and wastewater management system. It will be located just outside of town with room for parking, great views of the valley and Volcan Baru.

It is hoped that a convention center in Chiriqui will attract businesses and venues to use the facility. Once here, tourists can sight see other areas in Chiriqui. It is also hoped that the extra visitors may influence and encourage the need for direct flights arriving to David from North America.

The convention center will help provide local hotels, restaurants and other businesses to generate more revenue and begin a successful start to tourism for Panama and Chiriqui.

Construction is hoped to begin next year in 2017.

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What Does The Panama Canal Expansion Mean to the Economy?

Recent projections indicate that the revenue from the expansion will go up by over 45% in 2017 alone. This means that over 400 million dollars may be added to the countries coffers in 2017.

By 2025 the Panama Canal Authority (ACP) projects a 50% increase in tonnage which again, will add to the GDP of the country.

This may allow the country to reduce their deficit, thereby be raised in the Fitch Ratings. The Fitch Ratings measure the debt and financial strength for corporate, public and finance debt markets. Currently Panama is rated BBB with only three more levels to the top.

In addition the economic growth for Panama is expected to be at least 5% for the next 10 years due to the canal expansion. Also being forecasted is the growth around the surrounding area of the new expansion with new investments pertaining to shipping. It is estimated that this area will see a 40% growth in infrastructure and business.

Panama continues to be the fastest growing economy in the region and statistics bear that to be true, with a drop in poverty and inequality rates which have dropped in the last two years.

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Inauguration of New Canal Expansion on June 26th

The Panama Canal expansion which began in September of 2007 is finally completed. It has been a major project to add this third set of locks and the delays and costs have risen exponentially.

The canal has now been widened at an estimated cost of more than $7 billion. The canal has tripled its capacity and can now allow the newer bigger bulk carriers to cross through the canal. These larger vessels were previously not allowed access to the canal because of their weight and size.

On April 29th, a determination was made by lottery as to which vessel would  have the privilege to be the first to transit through the Expanded Canal when it will be inaugurated on Sunday, June 26th.

The 985-foot container ship, China COSCO Shipping’s Andronikos, won the April 29 drawing. This vessel has a maximum capacity of 9,400 TEUs, according to the Panama Canal Authority.

The Canal Authority reports that as of May 2nd more than 100 Neopanamax ships have already made reservations for commercial transit through the new locks starting on June 27.

It looks like this new expansion already has positive results for Panama and the world.

The added revenue for Panama is just another sign that this country is booming and moving ahead with a passion for the future.

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The Zika Virus in Panama?

The Zika virus is not new but has proliferated among the Americas this year. As for Panama we currently have cases reported mostly among the Guna Yala in area of Panama on the Caribbean Coast east of the canal to the Columbian border.

This area has traditionally been inaccessible for most but the indigenous people and it is mostly dense jungle areas where mosquitos love to breed.

For densely populated areas of Panama, regular and ongoing spraying of mosquitos for control has been happening for some time as a regular maintenance against all mosquito breed diseases.

There is no reason to avoid Panama. Taking a few basic precautions and eliminating exposure are all that are needed to become protected against mosquitos.

Always use common sense and wear protective clothing when hiking or walking in foraged areas where there will be tall grasses or tree coverage.

In addition use insect repellents on exposed skin and reapply if washed off. Keep inside if possible after dusk and wear light colored clothing.

Basically the same risk is anywhere mosquitoes exist which can be closer to home than you think. So don’t let the scare tactics keep you away from Panama. Come on down, be wise and enjoy!

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Panama’s Ecotourism is Set to Grow

Just released in February by the Panama Audubon Society is the new accounting of bird species for Panama. The new number is 1002 which is up from 997 counted in 2015.

As the Audobon Society has always promoted birding, the Panama Audobon Society sees the population and diversity of birds in Panama as a untapped source for tourism. This is especially true as Panama has the highest species count of all the Latin American countries.

While the Panama Audobon Society has always promoted and targeted education about birds to Panamanians, it also recognizes the potential for the growing interest in birding around the world.

The society regularly has field trips to engage in sightings of birds for local schools and interested groups within Panama.

 

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Panama is the Number One Place to Retire

Once again, Panama is named the number one place to retire according to International Living’s Annual Global Retirement Index for 2016.

That is why over 50,000 expats have chosen Panama as their retirement home. In all ten categories that are ranked to choose the number one county, Panama topped them all.

The categories included cost of living, environment, health care, safety, climate and infrastructure.

Panama is definitely one destination where a couple can live well under $1500 a month and enjoy many amenities not found in other Latin American countries.

Panama continues to move forward in 2016 with several large projects underway including the widening of the canal and finishing off the Pan American highway between Santiago and David. The country is strong and doing well.

The population of Panama is excited and optimistic for the future.

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It Is Carnival Time

Once again it is Carnival time in Chiriqui. While a few towns celebrate more than others, all take advantage of the holiday to close down businesses to party and spend time with family and friends. In Chiriqui, Dolega is the place to be for the biggest parties and festivities. This year however, David is getting in on the action too.

From February 6th, Saturday, through February 9th, Tuesday, Carnival is underway in Panama.