Working & Shopping: Panama's Economic Landscape
Part 15 of the 100 Things series: Employment restrictions, free zone shopping, and the Canal's economic impact.
Business & Economy
71. Protectionist Employment Laws
Many professional categories and job types are legally reserved for Panamanian citizens. These protective regulations limit employment opportunities for foreigners while safeguarding positions for locals. Companies requiring specialized foreign talent must navigate complex justification processes in order to hire for those exception positions.
72. Free Zone Shopping
The Colón Free Zone offers duty-free shopping opportunities that attract both locals and visitors. This massive commercial area features wholesale and retail operations with discounted goods. Regular shopping expeditions to this zone have become tradition for many Panamanian families.
73. Real Estate Multiple Listings
Panama lacks a centralized Multiple Listing Service for real estate. Properties often have multiple agents and even multiple prices simultaneously. Viewing appointments might include several competing agents showing the same property. This fragmented system requires buyers to be particularly diligent.
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74. Cash Payment Tradition
Despite digital payment advances, many transactions still require in-person cash payments. Utility bills, government fees, and some services may not accept cards or online payments. This creates monthly routines of visiting payment centers with cash in hand.
75. Panama Canal Economic Centrality
The Canal directly and indirectly influences countless aspects of the Panamanian economy. Canal-related jobs carry prestige, stability, and above-average compensation. The Canal's revenue contributions to the national budget impact everything from infrastructure projects to social programs.