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Sam Taliaferro
Nov 24, 2008, 12:08:45 AM11/24/08
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If you can't click the links below, cut and paste this link
http://primapanama.blogs.com/_panama_residential_devel/
------------------------------------------------------------
Crisis, what crisis? [1]
Looking at the various economic prognostications in the local
papers [2]one might be led to believe that Panama is immune
from the economic turmoil engulfing the rest of the world. But
what many are touting as Panama's strengths protecting it, is
really nothing more than timing and time may soon be running
out. Panama will succumb to the same problems and in some ways
they may be more severe if its leadership does not take steps to
mitigate them.
Boquete's 30 year flood [3]
It has been drizzling in Valle Escondido for 5 solid days and
raining hard above us on the continental divide for almost a
week. Today we received a call from the civil protection agency
(Sinaproc) asking for help with food and blankets for the many
people who have been displaced by flooding. See the photos.
Crisis in paradise: Meltdown leaves ghost resorts in Caribbean
[4]
"I've been in the business 38 years. I have seen the impact of
the Gulf War. I have seen the recession of the '80s. Certainly
Sept.11," said Robert Sands, senior vice president of external
affairs at Baha Mar. "But nothing has been of a global nature,
which makes the current financial situation we're in much more
worrisome."
Piracy causes further decline in Suez canal transits [5]
This story about the number of shipping companies who are
avoiding the Suez canal points out an unexpected vulnerability
engineered trade routes are subject to. Pirates with only the
crudest of weapons and vessels are able to significantly damage
the shipping industry and nowa major source of income for Egypt.
This bad news comes on the heels ofa significant decline in
traffic due to the world recession.
Business travel shows strength ONLY in Latin Ameirca [6]
South American business travel is the only bright spot in an
otherwise declining segment of the travel industry according to
the International Air Transport Association. [7]Friends who
have been traveling first and business class to and from Europe
tell me getting seats is difficult.
Selling tourism to Panamanians [8]
Panamanians by their nature are very friendly,especially to
foreigners and all of the schools already have classes about
tourism and its benefits to the country. The only area of the
population who are notorious in their mal-treatment of tourist
are government employees such as police, immigration officers,
border officials and the many minions who work in public
offices. Rather than spend millions trying to reach the ordinary
Panamanian, I suggest the government just mandate kindness and a
smile to everyone in the country whether they are tourists or
not.
Car sales in Panama put on the breaks [9]
Well, this may be a sign of consumer maxed out or it may be just
a factor of the credit crunch, but there has been a significant
slow down in car buying over the last month. In this article
from La Prensa(translated) you get some interesting statistics.
Foreign retirees may save U.S. housing market if.... [10]
Just like Panama, immigration is the over riding challenge for
the foreigners who want to live in the U.S., but there are other
factors that foreigners may not be considering. High cost of
living, high cost of health care and high property taxes are at
the top of the list. Atleast for now, Panama is a better deal in
these areas.
Last man standing [11]
The headline from AP reads "Dubai property market on edge amid
global slowdown" [12]and is pointing out that some cracks are
beginning to show in this real estate driven speculative
madness. Combine dropping oil prices with scarcity of European
buyers and it looks like Dubai's building boom maybe coming to
an end.
Spinmasters say they are no longer "dependent on IMF" [13]
Obviously the public is being led to believe that Panama is not
beholden to the IMF. With nearly $11 billion in foreign debt
currently, Panama is paying debt service of about $1.1 billion a
year and the interest on that debt is about $600 million. So
their repayment of this piddling $1.3 million repayment
represents about a half a days interest.
Hats off to Panama [14]
John Miller, a Kentucky-bred ex-patwho used his 10 years of
training as a river guide at North Carolina's well-regarded
Nantahala Outdoor Center to found the paddle-centric Boquete
Outdoor Adventures in western Panama a few short years ago.
Trump Baja project in trouble [15]
With developers unable to get financing for projects sold
using the Trump name it may do more than just tarnish his image.
The developers say the 30% deposits collected have gone to land,
working on the plans and starting the work and they don't have
it to give back even though the buyers were told it was going
into escrow. I hope the Donald go this money up front for his
branding as the name is getting pretty badly trashed of late.
Airline woes may spell trouble for property markets, analysts
say [16]
Troubles in the budget airline industry could send ripple
effects through second-home markets around the world. Property
industry executives have long believed there is a direct
correlation between the availability of cheap flights and the
growth of a vacation market. Although specific data is scarce,
anecdotal evidence supports the conclusion, especially in
smaller cities in countries like Spain and Bulgaria.
Container Traffic Worst Since 04 [17]
Cargo volume dropped further than expected in October, pointing
the way to the lowest annual container volume at the nationÃÔ
ports since2004. The downturn in the nationÃÔ economy has
already cut into retail sales, and the traditional holiday peak
is shaping up to be disastrously slow as the latest report from
Port Tracker forecasts light volume for the rest of the year.
Panama reports UK visitor boom [18]
More good news from the UK.Panama expects to have doubled last
yearÃÔ UK arrivals figures by the end of this year. Last year,
8,000 Britons visited the Central American country; this year,
7,400 had already done so by the summer. PanamaÃÔ tourism sector
grew 24% to become the countryÃÔ number one industry last year.
----------------------------------------------------------------
References
[1] http://m1e.net/c?88452906-Cth5o0AMa/URI%403781765-5EvEhI8ic6dKs
[2] http://m1e.net/c?88452906-KpF8jm7Z4r85A%403781766-rQPjmUz9.whgs
[3] http://m1e.net/c?88452906-pNkNDmdg3pOSk%403781767-edI3OLD4QbuXo
[4] http://m1e.net/c?88452906-FHIkpLItfLwVA%403781768-doaHMok4dn1HE
[5] http://m1e.net/c?88452906-rQsQASZPADVmg%403781769-ggwJ9cC0vC0iI
[6] http://m1e.net/c?88452906-d6LhtE.sdoGTU%403781770-D2BycgEBpTvEM
[7] http://m1e.net/c?88452906-jI/Arefsz8UBQ%403781771-ftbqrDgq2ROkQ
[8] http://m1e.net/c?88452906-uJHf529yJYaxA%403781772-YW08j6L2SZFos
[9] http://m1e.net/c?88452906-AnJhH8xo/4I1g%403781773-t/gHq60RKhHhc
[10] http://m1e.net/c?88452906-uKlNvkm5rCs9U%403781774-HlPpBMxR4wOuU
[11] http://m1e.net/c?88452906-XPznrgRgKgPPY%403781775-vCpQta2y8qINw
[12] http://m1e.net/c?88452906-0r8rktz02DpIA%403781776-LEg28DFyPrj8M
[13] http://m1e.net/c?88452906-MaWTwumUPhfOM%403781777-lsy9c/0L06/bE
[14] http://m1e.net/c?88452906-V8OHJd3B/GW7c%403781778-O4TyhHYN0bBMs
[15] http://m1e.net/c?88452906-NShcxOGAL3eRI%403781779-FV6ggpMJCTYuc
[16] http://m1e.net/c?88452906-eqdQh5PJRoOyU%403781780-4h8N49GkqXTmg
[17] http://m1e.net/c?88452906-3iHxWCMNZby4.%403781781-n/VFlqH9h22HM
[18] http://m1e.net/c?88452906-i3FPWu5MLjq1Y%403781782-mn7n8yubBDqF%2e
------------------------------------------------------------
Did you know there is a new country in Central America and it has
quickly become the top retirement destination in the western
hemisphere? Be sure to visit the Republic of Chiriqui and find
out why. http://therepublicofchiriqui.com/
------------------------------------------------------------
To unsubscribe/change profile:
http://www.listcast.com/x?u=88452906r-59ac083a
To subscribe:
http://www.listcast.com/x?oid=26634a
Prima Panama
PO box 87-2100
Plaza Concordia Zona 7
Panama City, Other 0000000
Panama
Email list management powered by Listcast
If you can't click the links below, cut and paste this link
http://primapanama.blogs.com/_panama_residential_devel/
------------------------------------------------------------
Crisis, what crisis? [1]
Looking at the various economic prognostications in the local
papers [2]one might be led to believe that Panama is immune
from the economic turmoil engulfing the rest of the world. But
what many are touting as Panama's strengths protecting it, is
really nothing more than timing and time may soon be running
out. Panama will succumb to the same problems and in some ways
they may be more severe if its leadership does not take steps to
mitigate them.
Boquete's 30 year flood [3]
It has been drizzling in Valle Escondido for 5 solid days and
raining hard above us on the continental divide for almost a
week. Today we received a call from the civil protection agency
(Sinaproc) asking for help with food and blankets for the many
people who have been displaced by flooding. See the photos.
Crisis in paradise: Meltdown leaves ghost resorts in Caribbean
[4]
"I've been in the business 38 years. I have seen the impact of
the Gulf War. I have seen the recession of the '80s. Certainly
Sept.11," said Robert Sands, senior vice president of external
affairs at Baha Mar. "But nothing has been of a global nature,
which makes the current financial situation we're in much more
worrisome."
Piracy causes further decline in Suez canal transits [5]
This story about the number of shipping companies who are
avoiding the Suez canal points out an unexpected vulnerability
engineered trade routes are subject to. Pirates with only the
crudest of weapons and vessels are able to significantly damage
the shipping industry and nowa major source of income for Egypt.
This bad news comes on the heels ofa significant decline in
traffic due to the world recession.
Business travel shows strength ONLY in Latin Ameirca [6]
South American business travel is the only bright spot in an
otherwise declining segment of the travel industry according to
the International Air Transport Association. [7]Friends who
have been traveling first and business class to and from Europe
tell me getting seats is difficult.
Selling tourism to Panamanians [8]
Panamanians by their nature are very friendly,especially to
foreigners and all of the schools already have classes about
tourism and its benefits to the country. The only area of the
population who are notorious in their mal-treatment of tourist
are government employees such as police, immigration officers,
border officials and the many minions who work in public
offices. Rather than spend millions trying to reach the ordinary
Panamanian, I suggest the government just mandate kindness and a
smile to everyone in the country whether they are tourists or
not.
Car sales in Panama put on the breaks [9]
Well, this may be a sign of consumer maxed out or it may be just
a factor of the credit crunch, but there has been a significant
slow down in car buying over the last month. In this article
from La Prensa(translated) you get some interesting statistics.
Foreign retirees may save U.S. housing market if.... [10]
Just like Panama, immigration is the over riding challenge for
the foreigners who want to live in the U.S., but there are other
factors that foreigners may not be considering. High cost of
living, high cost of health care and high property taxes are at
the top of the list. Atleast for now, Panama is a better deal in
these areas.
Last man standing [11]
The headline from AP reads "Dubai property market on edge amid
global slowdown" [12]and is pointing out that some cracks are
beginning to show in this real estate driven speculative
madness. Combine dropping oil prices with scarcity of European
buyers and it looks like Dubai's building boom maybe coming to
an end.
Spinmasters say they are no longer "dependent on IMF" [13]
Obviously the public is being led to believe that Panama is not
beholden to the IMF. With nearly $11 billion in foreign debt
currently, Panama is paying debt service of about $1.1 billion a
year and the interest on that debt is about $600 million. So
their repayment of this piddling $1.3 million repayment
represents about a half a days interest.
Hats off to Panama [14]
John Miller, a Kentucky-bred ex-patwho used his 10 years of
training as a river guide at North Carolina's well-regarded
Nantahala Outdoor Center to found the paddle-centric Boquete
Outdoor Adventures in western Panama a few short years ago.
Trump Baja project in trouble [15]
With developers unable to get financing for projects sold
using the Trump name it may do more than just tarnish his image.
The developers say the 30% deposits collected have gone to land,
working on the plans and starting the work and they don't have
it to give back even though the buyers were told it was going
into escrow. I hope the Donald go this money up front for his
branding as the name is getting pretty badly trashed of late.
Airline woes may spell trouble for property markets, analysts
say [16]
Troubles in the budget airline industry could send ripple
effects through second-home markets around the world. Property
industry executives have long believed there is a direct
correlation between the availability of cheap flights and the
growth of a vacation market. Although specific data is scarce,
anecdotal evidence supports the conclusion, especially in
smaller cities in countries like Spain and Bulgaria.
Container Traffic Worst Since 04 [17]
Cargo volume dropped further than expected in October, pointing
the way to the lowest annual container volume at the nationÃÔ
ports since2004. The downturn in the nationÃÔ economy has
already cut into retail sales, and the traditional holiday peak
is shaping up to be disastrously slow as the latest report from
Port Tracker forecasts light volume for the rest of the year.
Panama reports UK visitor boom [18]
More good news from the UK.Panama expects to have doubled last
yearÃÔ UK arrivals figures by the end of this year. Last year,
8,000 Britons visited the Central American country; this year,
7,400 had already done so by the summer. PanamaÃÔ tourism sector
grew 24% to become the countryÃÔ number one industry last year.
----------------------------------------------------------------
References
[1] http://m1e.net/c?88452906-Cth5o0AMa/URI%403781765-5EvEhI8ic6dKs
[2] http://m1e.net/c?88452906-KpF8jm7Z4r85A%403781766-rQPjmUz9.whgs
[3] http://m1e.net/c?88452906-pNkNDmdg3pOSk%403781767-edI3OLD4QbuXo
[4] http://m1e.net/c?88452906-FHIkpLItfLwVA%403781768-doaHMok4dn1HE
[5] http://m1e.net/c?88452906-rQsQASZPADVmg%403781769-ggwJ9cC0vC0iI
[6] http://m1e.net/c?88452906-d6LhtE.sdoGTU%403781770-D2BycgEBpTvEM
[7] http://m1e.net/c?88452906-jI/Arefsz8UBQ%403781771-ftbqrDgq2ROkQ
[8] http://m1e.net/c?88452906-uJHf529yJYaxA%403781772-YW08j6L2SZFos
[9] http://m1e.net/c?88452906-AnJhH8xo/4I1g%403781773-t/gHq60RKhHhc
[10] http://m1e.net/c?88452906-uKlNvkm5rCs9U%403781774-HlPpBMxR4wOuU
[11] http://m1e.net/c?88452906-XPznrgRgKgPPY%403781775-vCpQta2y8qINw
[12] http://m1e.net/c?88452906-0r8rktz02DpIA%403781776-LEg28DFyPrj8M
[13] http://m1e.net/c?88452906-MaWTwumUPhfOM%403781777-lsy9c/0L06/bE
[14] http://m1e.net/c?88452906-V8OHJd3B/GW7c%403781778-O4TyhHYN0bBMs
[15] http://m1e.net/c?88452906-NShcxOGAL3eRI%403781779-FV6ggpMJCTYuc
[16] http://m1e.net/c?88452906-eqdQh5PJRoOyU%403781780-4h8N49GkqXTmg
[17] http://m1e.net/c?88452906-3iHxWCMNZby4.%403781781-n/VFlqH9h22HM
[18] http://m1e.net/c?88452906-i3FPWu5MLjq1Y%403781782-mn7n8yubBDqF%2e
------------------------------------------------------------
Did you know there is a new country in Central America and it has
quickly become the top retirement destination in the western
hemisphere? Be sure to visit the Republic of Chiriqui and find
out why. http://therepublicofchiriqui.com/
------------------------------------------------------------
To unsubscribe/change profile:
http://www.listcast.com/x?u=88452906r-59ac083a
To subscribe:
http://www.listcast.com/x?oid=26634a
Prima Panama
PO box 87-2100
Plaza Concordia Zona 7
Panama City, Other 0000000
Panama
Email list management powered by Listcast
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