What about Panama?

What About Panama?

Some of the most inspiring projects in my career have involved branding countries, cities, and even entire emirates. It began in the late 1990s when Brazil, despite having one of the world's most advanced banking technologies, struggled to export its financial products and expertise to the U.S. The country's global image, largely shaped by carnival and soccer, created a barrier to success, necessitating a strategic rebranding effort.

Dubai followed. In the early 2000s, it had not only a tarnished image due to recent terrorist attacks but was virtually unknown to most Americans. A personal anecdote illustrates this: Upon returning to San Francisco from Dubai, I was nearly detained by border control. The officer inspecting my passport did not recognize the Arabic stamp or know where Dubai was. It was only when I mentioned "Middle East" that alarms were raised—a reaction that prompted me to ask whether, if a place was considered so dangerous, they should at least be knowledgeable about its location. My remark did not sit well.

Working closely with different cultures has taught me an unfiltered love for the world and its stories—stories that are often misrepresented or misunderstood due to Western biases or historical distortion.

The Spark of Interest: Panama

A few months ago, an inappropriate office joke about cocaine led to a heated discussion on marginalization and Western ignorance. A colleague from Panama challenged my lack of knowledge about the country, making me realize I was part of the problem. Recently, Panama even made headlines during the U.S. Inauguration. So, what about Panama?

A Brief History of Panama

Panama’s history is shaped by its strategic location, serving as a crossroads between North and South America and linking the Atlantic and Pacific Oceans. Key historical moments include:

• Pre-Colonial Era: Home to indigenous groups like the Guna, Emberá, and Ng?be-Buglé.
• Spanish Colonization (1501-1821): A vital part of Spain’s empire, facilitating the movement of gold and silver from South America.
• Independence from Spain (1821) & Union with Colombia: Panama voluntarily joined Gran Colombia but later struggled under Colombian rule.
• Separation from Colombia (1903) & U.S. Influence: The U.S. helped Panama gain independence in exchange for control of the Panama Canal Zone.
• Panama Canal & Economic Growth (1914-1999): The canal transformed global trade and Panama’s economy, though U.S. control sparked nationalist sentiments.
• Noriega’s Dictatorship & U.S. Invasion (1989): The U.S. ousted dictator Manuel Noriega, restoring democracy.
• Post-1999 Panama & Economic Boom: With full control of the Panama Canal, the country experienced significant economic growth in banking, logistics, and real estate.

Debunking Misconceptions About Panama

Like many places, Panama suffers from a narrative skewed by misconceptions, often perpetuated by the media. Here are some of the most common:

1. Myth: Panama is Just a Tax Haven - Truth: While Panama does have a favorable business climate with strong banking and financial services, it is much more than a tax haven. The country has a diverse economy driven by trade, logistics, tourism, agriculture, and real estate. The Panama Canal, one of the world's most important trade routes, plays a critical role in global commerce.
2. Myth: Panama is Unsafe and Crime-Ridden - Truth: While some areas experience crime, Panama is one of the safest countries in Latin America. It has a stable government, no standing army, and lower crime rates compared to regional neighbors like Honduras, El Salvador, and Colombia. Most crime is petty theft rather than violent crime, and ex-pats often feel very safe in the country
3. Myth: The Panama Canal is the Only Thing That Matters - Truth: While the canal is essential for global trade and contributes significantly to Panama's GDP, the economy is much more diversified. The country has a booming real estate sector, a growing tech industry, a well-developed banking sector, and one of Latin America’s fastest-growing tourism industries.
4. Myth: Panama is a Tropical Jungle with No Modern Infrastructure Truth: Panama City is one of the most modern capitals in Latin America, with a skyline resembling Miami’s. It has a metro system, high-end shopping malls, luxury hotels, and a strong banking sector. While the country has rich biodiversity and rainforests, it also has well-developed infrastructure, especially in urban areas.
5. Myth: Panama is Poor and Underdeveloped - Truth: While economic inequality exists, Panama has one of the highest GDP per capita in Latin America. The country has strong economic growth, modern infrastructure, and a booming real estate sector. It is a hub for international business and logistics.
6. Myth: Panama is a Corrupt Narco-State - Truth: While corruption exists in some sectors (as in many countries), Panama is not a narco-state. The government actively cooperates with the U.S. and international organizations to combat drug trafficking. The Panamanian police and military forces frequently seize large drug shipments and work to disrupt trafficking networks

It's time to reinvent Panama's narrative

While Panama has successfully boosted tourism as one of the big economic factors in recent years, the newly sparked debate and attention might be a chance to rebrand the country as a nation poised for the future. Now, please bear in mind that the following is just a personal viewpoint — rebranding a country requires more than an expert’s opinion and must come from within, reflecting the voices of all stakeholders, its deep history, and its future. It should surely not be solely shaped by a Westerner's viewpoint. But in the spirit of finding new positive narratives, here is my first vision based on what I have learned over the past weeks:

A Nation Poised for the Future

Panama is more than a country—it is a statement of resilience, ingenuity, and vision. Rooted in centuries of indigenous wisdom, elevated by technological innovation, and strengthened by political stability, Panama is positioned to lead Latin America into a sustainable and prosperous future.

And here is why:?

A Legacy Rooted in Sustainability and Cultural Heritage

Panama’s history is woven with the resilience, wisdom, and ingenuity of its indigenous communities, whose stewardship of the land has made the country a beacon of sustainability. The Guna, Emberá, Ng?be-Buglé, and other indigenous groups have safeguarded ecosystems for centuries, embodying a way of life that harmonizes with nature. Their sustainable agricultural practices, use of medicinal plants, and intricate knowledge of biodiversity contribute to Panama’s reputation as a leader in environmental preservation.

Panama’s rich cultural heritage is a national treasure. The Guna Yala’s autonomous governance over their land is a model of indigenous sovereignty, balancing tradition with modern conservation efforts. The Emberá people, known for their profound ecological knowledge, are key partners in rainforest conservation, protecting thousands of hectares of pristine jungle. These communities are not just relics of the past but active contributors to Panama’s future, ensuring the country’s biodiversity remains intact for generations.

Panama’s commitment to environmental stewardship is evident in its extensive national park system, covering nearly 40% of its land. The Darien National Park, a UNESCO World Heritage site, is a living example of how indigenous wisdom and modern conservation can work together. The country’s emphasis on sustainable tourism—where visitors experience Panama’s cultural and natural wealth without harming its delicate ecosystems—is a model for the world.

The City of Knowledge Fundación Ciudad del Saber : An Innovation Hub Unlike Any Other

Panama’s future is equally inspiring, driven by its role as an unparalleled innovation hub in Latin America. At the heart of this transformation is the City of Knowledge (Ciudad del Saber), a world-class research, education, and technology hub established in the former U.S. military base of Clayton. It is a unique example of turning history into opportunity—once a symbol of foreign presence, it is now a thriving epicenter of Panamanian-led progress.

The City of Knowledge fosters cutting-edge research in climate science, renewable energy, and artificial intelligence. It hosts over 200 organizations, including international NGOs, scientific institutes, and innovative startups. As a key player in Latin America's entrepreneurial ecosystem, it attracts talent from around the world, reinforcing Panama’s reputation as the Silicon Valley of Central America.

Panama is also emerging as a leader in green technology. The country has committed to transitioning to 70% renewable energy by 2050, with ongoing investments in solar and wind power. Companies within the City of Knowledge are at the forefront of clean energy solutions, marine conservation, and AI-driven environmental monitoring.

A Global Financial and Tech Powerhouse

Panama’s banking and financial services sector is one of the most sophisticated in the Western Hemisphere, offering an advanced regulatory framework and international connectivity that rivals traditional financial hubs. The Panama Papers may have put the country under scrutiny, but today, Panama has reformed its financial regulations and emerged as a model for transparency and compliance in Latin America. With over 80 international banks operating in the country, including major global players, Panama serves as the financial heartbeat of the region.

Panama’s thriving fintech sector is revolutionizing the way Latin Americans access financial services. With a digital banking ecosystem that rivals developed nations, the country is leading the charge in blockchain innovation, mobile banking solutions, and financial inclusion initiatives. The success of local fintech startups has drawn international investors, further positioning Panama as the tech and financial epicenter of Latin America.

A Beacon of Sovereignty, Diplomacy, and Stability

Unlike many Latin American nations, Panama has maintained remarkable political stability, making it a strategic hub for international business and diplomacy. The peaceful transition of the Panama Canal from U.S. control in 1999 stands as one of the world’s greatest diplomatic achievements—an example of sovereignty reclaimed with vision and unity. Today, the Panama Canal Authority operates as a globally respected institution, managing one of the most critical trade routes with efficiency and innovation.

Panama's foreign policy is one of balance and cooperation, hosting the regional headquarters of the United Nations and the Inter-American Development Bank. Its neutrality in geopolitical conflicts has made it a safe haven for international arbitration, and its free trade agreements with over 60 countries position it as a bridge between continents.

Let's discuss and spread the true story of one of the most underrated and inspiring places in the world.