Destination Intelligence

Panama

The stopover that stayed: Copa’s hub feeds a dollarized economy where MICE, Casco Viejo boutiques and two coasts turn transit into a destination.

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Panama at a glance

Key indicators
Visitors 2025
3M+
record; H1 2026: 1.75M, +17.4% YoY
Hotel occupancy
67.6%
H1 2026, +14% YoY (STR/Apatel)
Copa hub (PTY)
420 flights/day
20.9M passengers in 2026; fleet to 121
Stopover program
250,000
2026 target; stays extended 7 → 15 days

Who comes to Panama

Official statistics
3.0M
international visitors in 2025 — a record ($6.6B in tourism revenue)
United States
448K (~16%)
Colombia
309K
Ecuador
107K
Venezuela
79K
Mexico
75K
Spain
70K

Top source markets (ATP, 2024 full-year breakdown)

Source: Autoridad de Turismo de Panamá (ATP) · Verified September 2026

Download the one-pager (PDF) →

Collections to come

Curated selections

Panama City & Casco Viejo

urban luxury · Sofitel Legend, American Trade, rooftop skyline

Riviera Pacífica · Pedasí

beach corridor · resort flags, surf and second homes

Bocas del Toro · Pearl Islands

island boutique · eco-lodges, private-island formats

What we are watching

Signals

The full Panama Market Brief is in production. These are the desk notes shaping it.

2026TIO desk

The hub converts

Copa’s Stopover — now up to 15 days at no extra airfare — drew 215,000 visitors in 2025 (+25%); the canal transit market is becoming a stay market.

2026TIO desk

The MICE machine

74 international events and 113,900 participants in H1 2026; 110 events confirmed for the year — midweek, off-season demand by design.

2026TIO desk

The dollar advantage

A fully dollarized economy removes FX risk — the opposite trade to Costa Rica’s colón squeeze, two hours apart.

Reports on the destination

Destination reports
Issue № 01 · Autumn–Winter 2026/27
Destination
Market Brief
Panama · Market Intelligence

Destination Market Brief

For the traveller

3M+ visitors, H1 2026 up 17.4%, occupancy 67.6% — and a stopover program converting 215k transits into stays. The Copa hub, the MICE calendar and the dollarization advantage.

Read the brief →
Issue № 02 · 2026–2030
Hotel Development
Brief
Panama · Investment Intelligence

Hotel Development Brief

For the investor and developer

Two markets, one engine: city towers absorbed by events and stopovers, the Riviera Pacífica extending west to Pedasí, and island frontiers still waiting for institutional product.

Read the brief →

First research

1 issue
Two Coasts · 2026

Panama: the stopover that stayed

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