Panama Tourism Revenue Reached $4,054 Million by August

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By LatAm Reports Staff Writers

Panama received a total of 1.85 million international visitors between January and August, of which 1.41 million were tourists who stayed longer in the country.

The country generated more than $4,054 million in tourism revenue between January and August of this year, according to the preliminary report of the Panama Tourism Authority (ATP).

This represents an increase of 9.6% or an additional $354.9 million over the $3.7 billion reported in the same period of 2023 and does not include the cost of international transport.

In these eight months of the year, Panama recorded the arrival of more than 1.85 million international visitors, 9% more than in the same period of 2023.

Of the total number of visitors, 1.41 million were listed as tourists because they stayed more than 2 days in the country, an increase of 11.8% in contrast to the 1.26 million recorded in the eight months of last year.

The ATP report notes that a tourist’s average stay time in Panama increased to 8 days, and the average spending was $2,182, about $2,73 per day.

Of the total number of international travellers entering the country, 201,371 were cruise passengers, 10.4% less than between January and August 2023, when 224,846 people visited the country along this route.

Tocumen International Airport was the main passenger entry port, with a proportion of 74%. The terminal reported a 15 per cent increase compared to the eight months of 2023, totaling 1.37 million people.

The Canoas Pass Border recorded a decrease of 4%, while cruise ports decreased by 10.4%. By Paso Canoas 67,209 people entered, on cruise ships 201,371 visitors, and another ports accounted for the arrival of 214,063 people.

According to the ATP, at the end of August the hotel occupancy was 51.2%.

Where do the tourists come from?

The largest number of visitors comes from the United States, with 314,067 people accumulated in eight months, followed by Colombia with 202,568 visitors and Venezuela with 58,884 travellers who entered by formal means.

From Brazil, 51,786 travellers entered Panama; 50,339 from Mexico; 47,928 people from Spain; and from Argentina, 44,371 visitors.

Visitors to South America who entered Tocumen International Airport in the period from January to August 2024 accounted for 37% of the total, followed by North America (28.8%), Europe (14.3%), Central America (9.9%), the Antilles (4.8%) and Asia (4.6%).

Overall, 196,740 people visited Panama from Europe, 4.4% more than in the eight months of last year. From North America, including Mexico and Canada, 396,630 visitors arrived; from Central America, 136,093 people (an increase of 37.4%); and from South America, 508,509 travelers, representing an increase of 17.7%.

This article was translated after appearing in Prensa