In these times of mass economic hardship, many people have been left unemployed or made redundant. The world’s economy has suffered massive blows that have almost come close to causing total national disaster. You may be living in a place that simply has no forms of work or employment available to you or maybe you just want to start afresh in a new country, that’s both beautiful and economically stable, if that’s the case then Panama is the perfect country for you. Although panama is a wonderful country with many tourists’ attractions and a rapidly developing economy, many people have not even heard about it. Before you consider working in Panama, you may want a little background information.
The Republic of Panama is a country situated in the southernmost part of Central America, this country shares borders with Costa Rica on the northwest and Columbia on the south east. Panama was previously a part of what is now modern day Columbia, but due to the direct intervention of the United States Government, it was able to become independent of the republic of Columbia. The name ‘Panama’ is thought to mean ‘many butterflies’ in the language of the locals. Panama is a very politically stable nation; it uses a ‘presidential representative democratic republic’ governing system. That simply means that at any one time in history, the elected president of Panama is also automatically the head of state, government and a multi party system.
Panama features one of the lowest unemployment rates in the world, coming in at only 7%, this makes it an ideal country to work in. Recently the economy of Panama had been booming, it has experienced Growth Domestic Product of over 10.4% during the 2006 to 2008 period. It’s clear to see that Panama’s economy is one of the fastest growing in Latin America and the whole world at large. Nonetheless, like many different nations from all over the world, Panama has not been totally immune to the crippling effects of the recent economic downturn, but it has done very well economically. This country is ranked as being an upper middle class nation, but it is not uncommon to see the vivid differences between areas of poverty and areas of financial wellbeing. This means the country is very even in terms of the balance of poor to rich.
The economy of Panama is influenced greatly by its significant geographic location. Panama is located on the isthmus linking northern and southern America. It is also bordered by the Caribbean Sea towards the north and the Pacific Ocean towards the south. Panama’s main economy comes from its work in the banking, commerce and tourism sectors. Of course, these sectors have many, varied jobs, so as long as you have the right qualifications, there’s sure to be a job or two for you in Panama. Due to their previous history, this country shares many close links with the United States of America.
The booming economy of Panama is also due in part to its robust tourism industry. This is because the ideal location of this country and its renowned economic stability, has attracted many tourists from around the world. The culture of Panama is widely influenced by Spanish culture; this involves many forms of European music, dancing and art forms. This country enjoys a modern and widely diverse culture that’s very accommodating of foreign ideas and ideals.
If you want to move over to work in Panama and you’re taking your entire family with you, there are a few facts you need to know about Panama’s education system. Panama is a very well educated nation; almost 20 % of its population is literate. Panama features an education system that makes it compulsory for children aged from 6 years to 15 years old to attend school; this has contributed to the country’s high literacy rate. Panama has many well established learning institutions and has one of the world’s best education systems.
Money is also an important thing you may want to think about before moving to work in Panama. Panama’s currency is the balboa; this has close value to that of the American dollar. Although this country does have its very own currency, in practice the large majority of people use the United States dollar instead. Panama has its own coins in balboa, but all its paper money is in American dollars. Panama did once attempt to launch its own paper currency with the release of banknotes in the year 1941 under the direct instruction of then president Arnulfo Arias. These banknotes were withdrawn from circulation seven days later and were subsequently burned. Since then the country has used United States Dollars instead.
In conclusion, Panama is a well developed and all rounded country with a rich history and extensive historic sites. This country is extremely scenic and is the ideal location for anyone looking for a new beginning.