Thom Lane Pedasi
The population of 3 million, half of whom live in Panama City, are a mix of African, European, Arab, American, Chinese and Indian. The majority are mestizo, 14% are black, 10% white and 10% Indian. Seven Indian tribes live in Panama, and their traditional cultures are highly respected. It is, however, a highly stratified society where whites have most of the power.
With the highest per capita income in Central American, Panama has a large middle class who use cell phones, drive SUVs and live much like U.S. citizens. However, unemployment is high, with estimates ranging from 13% to 20%, and the World Bank estimates that half the population falls below the poverty level. Increasingly the poor leave the countryside for the city. Many live on the hillsides outside Panama City in shanty towns or precaristas.
Visit Marine Trading Services for the latest Panama Real Estate News by Thom Lane Pedasi