This publication explores how the travel and tourism industry in Panama is set to significantly contribute to the country’s economy in 2024, with future projections highlighting its importance and sustained growth.
The travel and tourism industry in Panama is projected to significantly contribute to the country’s economy in 2024, reaching $13.5 billion. This figure will represent 19.5% of the Gross Domestic Product (GDP) and create approximately 392,000 jobs. According to a study by the World Travel and Tourism Council (WTTC) and Oxford Economics, Panama stands out as an attractive destination both by air and sea, also noted for its commitment to sustainable tourism. The expected growth of the tourism sector will continue over the next decade, with a projection of $19.1 billion by 2034 and creating jobs for 472,000 people.
Panama has shown remarkable capacity to attract tourists, not only for its natural beauty and rich culture but also for its sustainability and environmental preservation initiatives. The tourism industry is a fundamental pillar for the Panamanian economy, significantly contributing to the country’s development and well-being. The diversity of activities and tourist attractions, from beaches and tropical forests to the iconic Panama Canal, helps the country remain a top choice for international visitors.
This growth will benefit not only sectors directly related to tourism, such as hotels, restaurants, and tour operators, but will also positively impact other areas of the economy, fostering infrastructure and services development. Investment in airport, port, and road improvements and expansions is a clear indication of the country’s commitment to strengthening its tourism sector.
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