Panama, just like the rest of the world has suffered a major impact on how people live everyday activities. Recently, the government has announced a group of traceability, where special workers are dedicated to track down individuals who got into contact with confirmed cases of COVID-19.
The whole world is fighting the virus and adapting to a different normality. In the UK, the Prime Minister has reported that there are signs of a second wave since most of the restrictions have been lifted across Europe. Also in the United States, some states such as Florida, Texas and California have had a massive increase in the number of cases due to lockdown easing.
There's a long road ahead, in which countries are battling this invisible enemy while groups of scientist across the globe are fighting to create a vaccine to this novel virus. Economy has been affected and it's expected to retract by 8% worldwide according to the World Bank. Some countries like Germany are expecting a retraction of 10%.
The world is definitely different but there's hope and the vaccine trials advance at record speeds. More than 160 vaccines are under development globally, increasing the odds of success. SinovacBiotech in Brazil got approval to test the vaccine in 9,000 people, while Oxford University together with AstraZenecca Plc expect to get 30 million doses available in the UK by September 2020.
In Panama, tourism is completely shut since the airport restriction still remain. Nevertheless, it has become the buyer's market, where incredible opportunities come into play. There has been unique fire sales, like this apartment in the Playa Bonita resort (follow the link here), which was just sold for $100k below market value. Developers have also announced easier and direct financing rules, which will help investors move to Panama without the help of the big banks.
In spite of the situation, Panama is still beautiful with warm weather and pristine beaches. The government of Panama expects to reopen The Tocumen International airport on August 22 as a hub for transit flights. Panama will always be here at the center of Latin America awaiting you with open arms.
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Author: Moses Muricy.