Panama City, the capitol of Panama boasts a population of more than seven hundred thousand people, when including the entire metropolitan area it increases to more than a million.
The economy in Panama has weakened the service industry and is principally supported by the banking sector, commerce, and tourism thanks to its favorable geographic location. In 2007 the work begun to widen the Panama Canal, a project that has been valued at more than 5 billion dollars and will be completed in 2014. The project has attracted important investments from all over the world, thanks to the favorable tax breaks offered by the current government.
The city is in a period of continual expansion: they are building many skyscrapers and among them is the tallest skyscraper in Latin America, The Le Point Tower which will be 240 meters high.
The official language of Panama is Spanish, but thanks the healthy presence of Americans and Europeans; English is also prevalent amongst the city’s habitants, one of the most accommodating populations in the world. The Pinkerton Intelligence Agency has actually classified Panama as the safest tourist destination and is also considered one of the best places to retire to.
