Key Market Indicators
Panama's tourism industry is projected to see modest growth in the coming years. Tourist arrivals are expected to increase from approximately 2.54 million in 2023 to around 2.55 million by 2028, marking an average annual growth rate of 0.1%. This follows a historical trend where demand has risen by 0.4% year on year since 2000. In terms of revenue, the Panamanian tourism sector is forecasted to generate nearly $2.29 billion by 2028, up from about $1.83 billion in 2023. This represents an average annual growth rate of 3.5%. Historically, since 2000, the market has experienced a more robust annual growth rate of 5.6%.
