Panama has excess office and hotel space

Panama has currently found itself with an excess of hotels and offices.

The country's growth as Central America’s banking capital and its aggressive recruitment of multinational companies with tax breaks made it a magnet in recent years for foreign investors.

But the country’s average hotel occupancy has fallen to 49.9 percent in the first 10 months of this year from 72.5 percent in the same period of 2008, according to Smith Travel Research.


Source: Wall Street Journal