ICT

According to the National Public Services Authority, ICT revenues rose from $743m in 2007 to $957m in 2013, maintaining a contribution to national GDP of around 3%. Much of this growth has been generated through the expansion of mobile services and broadband, which continue to offer significant room for growth. Fixed-line connections also registered significant expansion, rising 14% year-on-year in 2012, with the installation of 80,000 new lines. Thanks to Panama’s location, foreign investment incentives and connection to the continent’s primary fibre-optic networks, it is well placed to become a regional ICT centre. The biggest challenge facing the sector is capacity, primarily in human resources. A combination of expatriate employment and longer-term educational efforts will be required for the sector to overcome a shortage of skilled ICT professionals and reach its full potential.