Raymond Gatcliffe, General Manager of Citibank Panama, notes that the Panamanian economy is much more diversified than most people think. He believes that Panama is at a high point, but that doesn’t necessarily mean a trough is on its way, especially if the country can continue its aggressive efforts to normalize and sustain a peak level of economic activity. Quality of life, low crime, and connectivity will be drawing points for multinationals well into Panama’s future.
General Manager, Citibank Panama
Q: What would you think are some of the topics that people need to understand about Panama today?
A: I would say the diversity of Panama’s economy is an important element to understand. That obviously has been an evolutionary experience, which is different from what you would first imagine Panama to be. At first glance, you would just be focused on either the canal, the free zones, or banking.
Q: Did you have any predisposed opinions of Panama?
A: Naturally, the canal is so synonymous with it. Then I was aware that there was a big banking center because I’m in that industry. The free zones were something that were there but not well known. This is my personal experience. The connectivity that Panama enjoys with COPA Airlines continues to be a very positive growth story.