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Panama has always positioned itself as an attractive destination for expats, businessmen, retirees and foreign investors. Forty percent of real estate assets in Panama above USD$140,000 are purchased by foreigners. Despite the pandemic we can see that the Panamanian real estate market is going through a boom by international buyers. Work from Anywhere Both commercial and residential real estate market trends are changing due to COVID-19. Before the pandemic, digital nomads were a phenomenon of the digital revolution. Traveling and seeing the world with a flexible job working online was a unique way of life for a small group of freelancers, innovative entrepreneurs or highly digitized specialists. But in 2020 an emerging trend became a mass movement. Large, traditional companies that previously demanded a work culture from their employees where the team must be physically "present" in one place, suddenly felt compelled to jump into the 21st century, and all within a few days. Home Office - The New Normal But the home office lifestyle has not only created new fashion trends, sudden shortage of office supplies such as home printers, change of laws, and strange and sometimes even comical situations due to the use of new means of communication such as Zoom, Google Meet, Skype among others, for team and client meetings. People are waking up to new possibilities: Why do I live in an apartment whose rent eats up most of my income, if work can be done after a morning run on a Caribbean beach, while saving a lot of money living in a warm place? Because of the COVID-19 crisis, millions of people are starting to work from anywhere. Even big hotel chains are remodeling their rooms in order to convert them into small, temporary, beach-side home offices for holidaying remote workers. Something for Everyone The type of real estate available in Panama is very varied. The isthmus of Panama boasts mountains and beaches, and allows you to wake up in the Caribbean and have lunch overlooking the Pacific. Although Panama City is a dynamic and modern city, much of inland Panama remains quiet and remote. This geographical diversity converts Panama into an interesting market for buyers who prefer the city, as well as those who do not. In recent months we can observe two trends of real estate buyers in Panama, the purchase of unique spaces located in the interior of the country and the investment in centrally located apartments in Panama City with the aim to put them up for rent and thus create an additional source of income in the long term. Foreign Real Estate Investment in Panama Alberto Grajales, commercial director of encuentra24, a digital portal specialized in classified ads, indicates that 250,000 visitors are registered monthly in the English version of the portal, of which the vast majority are looking for information about real estate properties in Panama. Unlike other tourist destinations, foreigners and nationals can buy almost any type of property in Panama. It is also possible to own and sell property titles in your own name (although it is not recommended) or through corporations or foundations, even without being a resident, only with tourist status. Panama has a fully dollarized economy, with the US dollar being the legal currency in the country, which allows diversification out of the Euro zone. And the current exchange rate between the dollar and the euro favors European investors even more. New demand and opportunities arise from changing lifestyle circumstances due to the new way of remote working, global economy and financial and personal priorities.

Do You Want to Expand to the LATAM Market? Consider These Three Key Factors Due to the current situation caused by COVID-19, we can observe an explosive growth in online sales. This ongoing trend brings new business opportunities, as well as new ways to access the Latin American market (LATAM) for entrepreneurs from Europe, the United States, and Canada. The LATAM e-commerce market is expected to grow by 29% from 2020 to 2024. 25% of online customers made their first online purchase in March of this year. The products with the highest online sales in LATAM include computers and accessories, home appliances, clothing and shoes, tools and building materials, home accessories, and furniture. But in order to sell successfully online, you have to analyze and study the consumers, their preferences, and local tastes, as well as cultural differences. For this reason, in this week’s Blog, I have summarized three key factors to consider when expanding or starting your online business in LATAM: 1. Web Design In the virtual world the website of any business, store, or professional service is a business card to the outside world. Just like any restaurant, hotel, dental clinic or law firm tries to create a pleasant physical space to receive their diners, guests or clients. The creation of a business web space should follow the same concept to receive its virtual clients. When creating a website for the LATAM market local consumers expect its content to be visually pleasing, fast website navigation, and preferably a chatbot that is available 24/7 to answer the most urgent questions. LATAM online consumers appreciate the ability to purchase without registering and a variety of payment methods which, of course, should ensure a safe shopping experience. 2. Marketing and Customer Interaction The typical LATAM online consumer is young and likes technology. 85% of the population in LATAM is an active user of social networks, the most popular being Whatsapp, Facebook, Youtube, Instagram, and Twitter. This is why network marketing campaigns and constant interaction with customers are key in the online expansion into the LATAM market. The communication methods preferred by consumers are email (57%), text messages (27%), via a business' own mobile app (26%), Facebook (23%), Whatsapp (10%), and Instagram (10%). 3. Seasons and Shopping Campaigns Let's be honest, we're all bargain hunters. The typical LATAM consumer loves bargains. It's very common to wait for a special campaign or sale to make purchases. In the retail sector, 78% of sales are made for Christmas, 68% for Black Friday, 58% for Cyber Monday, 53% for Mother's Day, and 52% for Valentine's Day. Other special occasions for smart spenders are Children's Day, Father's Day and Back to School. Before launching a new business or expanding your existing company into the Latin American market, remember to study and analyze the preferences of your market and your future customers. Although LATAM is a large market with a lot of potentials, it is necessary to fragment the various regions taking into account that there are cultural and traditional differences along with specific local characteristics and challenges.

Here are the vendors you can expect to see at the BCP Tuesday Market on October 13th

BCP is preparing to re-open our Tuesday Market in its new location in the Arco iris Salon at the Feria grounds. This is a great location where all vendors will be under one roof, and we have a wonderful selection of vendors, including some who are new to the Tuesday Market. We will be enforcing whatever health measures are required at the time of opening, including social distancing.

We are at last able to give you our good news about the future of BCP’s Tuesday Market! Over the years, BCP’s Tuesday Market has evolved from its humble beginnings at the Fundadores Hotel to its recent location at what is now TapOut. We are now able to move into a better location than ever before. As soon as the health precautions allow, we will be opening in the Arco Iris Room at the Feria grounds. As before, this is just over the bridge, but now on the left - the room is right on the corner. This room is so large that even obeying social distancing with 2 meters between tables, we will be able to have all our vendors under one roof. You will no longer have to brave the wind and the rain to reach everyone. The room is bright and clean, the lighting is good and there are excellent bathroom facilities We are very excited to be able to use this facility which is a very positive step from all that has gone before. We are working with MINSA to ensure that the market will be held in such a way that everyone will be safe. Whatever limits are put on us we will be ready to welcome you back. For more information email info@eventsboquete.org To inquire about being a vendor: email market@eventsboquete.org

Sept. 2, 2017, will be the 1st Puerto Armuelles Saturday Market. 8am to 1pm. It will be at Heavenly's Hotel, which is right on the beach. It will always be on the 1st Saturday of every month. It is free for vendors. But you must bring your own table. Heavenly's Hotel is even offering a deal for vendors only. It promises to be a fun shopping experience. Come if you can. Then you can say you were at the 1st Puerto Armuelles Saturday Market. You can find more information, on livinginpanama.com/market