Located in Central America, Panama was originally home to indigenous tribes at the time of Spanish conquest in the 16th century. Following independence from Spain, it joined an alliance eventually known as the Republic of Colombia. However, it subsequently seceded from Colombia, paving the way for the Panama Canal to be built by the US Army Corps of Engineers between 1904 and 1914. Income from canal tolls continue to represent a significant part of Panama’s GDP.

Panama has a distinct geography with its central line of mountains and hills forming the continental divide. Its wildlife is considered the most diverse in the region and is home to many South American species such as several varieties of monkeys like white-faced capuchins and squirrel monkeys, as well as Geoffroy’s tamarin which are unique to its land. Its jungles contain big cats such as jaguars and pumas while its coral reefs sport a multitude of tropical fish.

The majority of Panamanians speak Spanish as their first language while native languages such as Ngäbere are spoken widely in the tribal territories.

Average Monthly Earnings

Employment-to-Population Ratio

Unemployment Rate

Employment by Sector

Agriculture 14.4%
Industry 17.7%
Services 67.9%

Employment Distribution by Education

Age 15+

Less than Basic 8.9%
Basic 36.9%
Intermediate 37.6%
Advanced 16.6%
Level Not Stated 0%

Age 15-24

Less than Basic 4.5%
Basic 43.3%
Intermediate 48.4%
Advanced 3.8%
Level Not Stated 0%

Age 15-64

Less than Basic 7.2%
Basic 36.5%
Intermediate 39.3%
Advanced 17.0%
Level Not Stated 0%

Age 25+

Less than Basic 9.7%
Basic 35.8%
Intermediate 35.7%
Advanced 18.8%
Level Not Stated 0%

Schedule a Demo

In Uzbekistan, the laws enforce implied contracts. Where there is no express agreement, the intent of the parties can be determined by conduct. #Uzbekistan #ComplianceUpdates #GlobalCompliance #GlobalPeopleStrategist

In Turkey, effective July 1, 2022, Turkey's gross minimum wage is TRY 6,471 per month. #Turkey #ComplianceUpdates #GlobalCompliance #GlobalPeopleStrategist

In the Bahamas, foreign nationals wishing to work remotely for a foreign company, a visa program named BEATS grants a residence and work permit for 12 months. #ComplianceUpdates #GlobalCompliance #GlobalPeopleStrategist

The Bahamas has a program called Bahamas Extended Access Stay, allowing students to study remotely from the Bahamas. The fee for this visa is BSD 525 and is valid for 12 months. #ComplianceUpdates #GlobalCompliance #GlobalPeopleStrategist

In Romania, starting January 1, 2023, pensioners of the public pension system and beneficiaries whose monthly income is less than or equal to RON 3,000 are eligible for financial aid. #Romania #ComplianceUpdates #GlobalCompliance #GlobalPeopleStrategist

Load More...