Executive Briefings

Panama Linchpin in Caribbean's Role as Air Cargo Center

Upon mention of the Caribbean, most people think of idyllic white-sand beaches, Hollywood pirates, the magical sound of steel drums, a handsomely crafted rum cocktail. But the region ringed by Central America, the northern coast of South America and an arc of island nations stretching toward the tip of South Florida – is more than a picturesque vacation spot. It is becoming a key jumping-off point for cargo flights between the Americas and the rest of the world, including Europe, Africa and now the Middle East.

Panama's Tocumen Airport has been one of the key linchpins in the rise of the Caribbean as a cargo hotspot. Earlier this year, IATA reported that aviation and aviation-related tourism contributes around $5.9bn to Panama's economy annually, an amount equal to 12.6 percent of the country’s GDP. This is much higher than the global average contribution of 3.4 percent, which the organization said reflects the positive impact of efficient connectivity to Panama's economy.

Imports to Panama include pharmaceuticals, machinery products, iron/steel rods and electronics. Panama operates two of the busiest ocean ports in Latin America, including the Colon Free Trade Zone, which is the world's second-largest free-trade zone.

Read Full Article

 

Panama's Tocumen Airport has been one of the key linchpins in the rise of the Caribbean as a cargo hotspot. Earlier this year, IATA reported that aviation and aviation-related tourism contributes around $5.9bn to Panama's economy annually, an amount equal to 12.6 percent of the country’s GDP. This is much higher than the global average contribution of 3.4 percent, which the organization said reflects the positive impact of efficient connectivity to Panama's economy.

Imports to Panama include pharmaceuticals, machinery products, iron/steel rods and electronics. Panama operates two of the busiest ocean ports in Latin America, including the Colon Free Trade Zone, which is the world's second-largest free-trade zone.

Read Full Article