PBS Releases New Documentary on Panama Canal

PBS just released a new documentary as part of their American Experience series that is definitely worth watching. The 82 minute documentary is extremely well-done, as one would expect from a PBS documentary.  The film highlights the history of the Panama Canal from the original attempt by the French engineer Ferdinand de Lesseps to the present day canal expansion.  This video is perfect for anyone living in Panama who wants to appreciate what it took to complete what many believe to be one of the Seven Wonders of the World.

The entire video can be seen below.  Enjoy!

Category : Blog &Panama

Panama GDP Growth Triples that of China

Panama CanalBoquete real estate investors are happy to know that Panama continues to be one of the best countries in the world in which to invest.  According to the Economic Commission for Latin America and the Caribbean (ECLAC), Panama has been the fastest growing economy in Latin America over the last two years.  Panama saw it’s GDP grow nearly 11% in 2011 and 10.5% in 2012, despite the global recession.  This is enough to make even the Chinese jealous as Panama’s growth has nearly tripled rates in China.

And although Latin America as a whole has grown substantially, growth in Panama has been three times greater than the Latin American average since 2011.  Over the medium-term, GDP growth in Panama has been equally staggering, posting a nearly 80% GDP growth since 2005.

Panama is now the fourth richest country in Latin America in terms of GDP per capita and Panama remains in the Top 20 fastest growing economies in the world according to the World Bank.  Contributing to this rapid growth have been Panama’s business-friendly regulations that have propelled Panama to become the second most competitive country in Latin America, after Chile, according to the Global Competitive Index.

Panama is open for business.  The best is yet to come.

Category : Blog &Panama

Panamanians Most Positive People on Earth – Gallup

A shocking new Gallup poll lists Panamanians as the most positive people on Earth. This will come as no surprise to those of us living in Boquete, as most of the Panamanians I know, even those that are living seemingly difficult lives, are happy.

Panamanians were tied with Paraguayans as the world’s most positive people and interestingly, people in seven Latin American countries finished in the Top Ten, with Trinidad and Tobago, Thailand and the Philippines being the only non-Latin countries on the list.

The Gallup Organization, the world’s foremost polling organization, interviewed nearly 150,000 people from 148 countries. Five questions were asked each respondent about their lives the previous day:

1. Were you well-rested?
2. Were you treated with respect?
3. Did you smile or laugh alot?
4. Did you learn or do something interesting?
5. Did you have feelings of enjoyment?

85 percent of Panamanians answered yes to all 5 questions. During a round of interviews, 11 construction workers sharing breakfast in a Panama City restaurant before heading to work on one of the many new buildings that have popped up during a decade-long economic boom. One of the workers said he was “happy about my family.”

“Overall, I’m happy because this is a country with many natural resources, a country that plays an important role in the world,” he said. “We’re Caribbean people, we’re people who like to celebrate, to eat well and live as well as we can. There are a lot of possibilities here, you just have to sacrifice a little more.”

Wonder where the Americans appeared on the list? 35th. And Canada? 11th. The lowest on the list? Singapore, with just 46% of the respondents answering yes to all 5 questions.

Click on the link to read the Complete Gallup Article.

Category : Blog &Panama

Bid to Buy Panama’s Largest Gold Mine Fails

According to Canadian newspaper publish Globe and Mail Canadian Inmet Mining Corp. has been unsuccessful in its hostile bid to purchase Petaquilla Minerals Ltd., owner of a gold mine next to the huge copper mine it is building in the Panamanian interior. Inmet initially offered to buy Petaquilla Minerals, Ltd. two months ago for $112,000,000 in cash and stock.

Petaquilla claims to have concession rights that Inmet will need to finish their $6 billion project Cobre Panama, that when complete will represent the biggest single investment in Panama country since the construction of the Panama Canal.

Although the failure of Inmet to purchase Petaquilla is seen as a major setback, officials from the company do not see this as having a major impact on their ability to proceed with the construction of the Cobre Panama project. That being said, Petaquilla claims to own the rights to lands where Inmet plans to construct a dam.

Although the hostile takeover appears to have been averted, CEO of Petaquilla Minerals said plans to reengage with Inmet are certainly possible. Panama has continued to show strong growth and it appears that there is no end in sight. It is certainly exciting to think that a $6 billion project is on its way to being a reality in Panama. Good news for Boquete real estate owners and those considering in investing in Panama.

Category : Panama

Moody’s Raises Panama’s Rating Once Again.

In another round of good news for Boquete real estate investors, the credit rating agency Moody’s Investors Service raised the rating on the government bonds of Panama from Baa3 to Baa2. Futhermore, they also changed Panama’s outlook to positive from stable.

This move highlights Panama’s region-leading economy and continued improvement in debt indicators. The economy in Panama has increased at an average rate of 7.3 percent over the last ten years, the highest growth rate in all of Latin America and among the highest in the world. And although there has been a weakening in the World economy as a whole, Panama has continued to show high GDP growth rates during the first half of 2012, growing at over 10%.

Even though some feel these rates of growth are unsustainable in the short-term, medium range growth forecasts remain strong thanks to large-scale government projects like the expansion of the Panama Canal and construction of the new subway system in Panama City. The newly-signed free trade agreement with the United States will also play a large role in medium-term growth according to economists. Panama is also quickly positioning itself as a center of global logistics and the economy in Panama should benefit from a new massive gold and copper mining project as well. Many people in Panama feel that the government under President Martinelli has taken on too much debt but the debt-to-GDP indicator has gone down from 70 percent of GDP in 2004 to 41.5 percent in 2011. All in all, Panama is in good shape to continue its current growth pattern and government debt seems to be inline with other economies in it’s class. Good news from Boquete Panama real estate investors.

Category : Panama

About Us

BoqueteForSale is a fully licensed real estate agency located in downtown Boquete. We operate from the premise of finding our clients the best possible properties in Boquete and then negotiating hard on their behalf. Put our contacts and experience to work for you.


I have known John for over 5 years now and, aside from being excellent golfers, they are dear friends. If I ever decide to sell my house, they will be my only call. - John H.

My family and I traveled to Panama in July looking for a luxury home. We fell in love with Boquete instantly. Through their personal contacts, John was able to show us 4 amazing homes that were not listed anywhere else in Panama. See you next month! - Beth K.

My partners and I purchased a large cattle farm through BoqueteForSale earlier this year. They neogotiated hard on our behalf and we came away with what we believe to be the best investment opportunity in Panama.

- Liam R.

My husband and I purchased a villa in Valle Escondido in August. We were ready to accept the seller's counter-offer, but John insisted that we continue negotiating. We are glad we did because we saved $18,000. Thanks! - Jayne B.

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