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Panama - Hotel & Restaurant Equipment

15/11/2016

This is a best prospect industry sector for this country. Includes a market overview and trade data.
Overview
Unit: USD Millions
Hotel and Restaurant Equipment Statistics
Note: The above statistics are unofficial estimates.

The market for hotel and restaurant equipment in Panama continues to be strong.  A number of new hotels and restaurants are opening throughout the country, not only in Panama City but also along the coasts and in the mountains in the interior, near the Costa Rican border.  Major U.S. hotel brands are present in Panama and a variety of restaurants, including well-known U.S. franchises of fast food and other restaurants, can be found in Panama City and other major cities in Panama.
 
Part of the hotel boom is due to government laws providing tax incentives and other benefits for new hotel construction.  The restaurant boom has resulted from a large influx of tourists and coincided with increased immigration from Venezuela, Colombia and other countries.  Large infrastructure projects such as new hospitals, a new convention center, etc., as well as the expansion of the Panama Canal have also attracted a large number of new residents and temporary workers and executives.
 
The hotel and restaurant market is very competitive.  The U.S. holds a leading position in this market, with main competition being from France, Italy, Spain, and Brazil.


Sub-Sector Best Prospects
Best products are kitchen equipment, chafing dishes, industrial stoves, laundry equipment, and furniture in general.


Opportunities
The growth of the economy and the increasing flow of tourists, as well as the Free Trade Agreement between the U.S. and Panama, which reduced import duties to zero for hotel and restaurant equipment, are indicators of excellent market opportunities for U.S. exporters of hotel and restaurant equipment.


Web Resources
  1. Camara de Turismo de Panama: http://www.camtur.com
  2. Autoridad de Turismo de Panama: http://www.atp.gob.pa
  3. Asociacion Panamena de Hoteles: http://apatelpanama.com
  4. Government of Panama’s Telecom Regulatory Agency: http://www.asep.gob.pa/
  5. American Chamber of Commerce in Panama:  http://www.panamcham.com
  6. Panama Chamber of Commerce: http://www.panacamara.com
  7. Expocomer (Commercial Trade Show):  http://www.expocomer.com
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