How would you assess Panama’s rise from 56th to 37th place in the World Economic Forum’s “2013 Travel & Tourism Competitiveness Report”?
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Interviews & Viewpoints | OBG talks to Ernesto Orillac, Deputy Minister of Tourism from The Report: Panama 2014
For the past decade Panama has registered impressive economic growth. According to the World Bank, GDP growth averaged 6.8% from 2000 to 2012, while government figures show double-digit growth for four of the past seven years. Economic development has been fuelled by heavy public sector spending on infrastructure, particularly the $5.25bn expansion of the Panama Canal, which should ensure long-term growth.
After a challenging few years, South Africa’s tourism sector is bouncing back, benefitting from the country’s affordability as a destination and its position as a business centre.
Although the emirate’s economic growth can be primarily attributed to its vast hydrocarbons resources, it has also made progress diversifying into new sectors such as manufacturing, tourism, aerospace, defence, finance and logistics. In addition to its economic investments, Abu Dhabi has also made major contributions to social welfare as well as infrastructure, which has been identified as the bedrock for future growth.
While two major natural disasters took their toll on the Philippines’ tourism industry during the latter part of 2013, strong overall demand from both the domestic and international markets helped the industry edge close to double-digit growth for the full year.
One of four key pillars of economic growth in the Strategic Economic Plan 2010-14, the tourism sector has experienced rapid development in the past decade. According to the World Travel...