Industry Updates

JANUARY 2023

Tocumen processed 15.7 million passengers in 2022

The General Manager of the Tocumen International Airport, Raffoul Arab, presented to airline executives, concessionaires, leaders of tourism unions and the press, the general balance of airport activities for the year 2022, highlighting the recovery of a large part of the routes international, the return of airlines, passenger traffic, the modernization of the infrastructure and the start-up of the new Terminal 2 in its entirety.

According to the statistical balance, Tocumen has closed 2022 with the traffic of 15,779,103 million passengers, which represents 6,615,105 million more passengers than in 2021.

 Destinations and markets

 Arab highlighted the launch of new destinations to cities in North and South America, as well as the recovery of more than 95% of the routes that connected the Tocumen International Airport prior to the health crisis, which shows the good path for the that the reactivation of the airline industry in the Latin American and Caribbean region is advancing.

In addition, he highlighted in his annual report that 18 of the 24 airlines that provide services in the Panama Hub to 85 destinations, some have increased their flight frequencies.

 “We have had a robust closing of the year and if the current trend continues by 2023, we estimate that we will break all records for processed passengers with more than 16.8 million,” Arab said.

Among the most important milestones for the year 2022, Arab highlighted the full operation of Terminal 2, the reopening of the Panama Pacifico airport, the direct flights from Frankfurt operated by Eurowing Discover, the direct flights from Istanbul operated by Turkish Airlines and the flights regular to Río Hato by the airline Air Transat, among others.

 Air cargo

 On the other hand, he indicated that the increase in cargo by 16% confirms the immense potential of Tocumen as a regional and domestic logistics hub. At the end of the year 2022, Tocumen managed to mobilize 234,935 metric tons of cargo, 32,192 more compared to the scenario of the previous year, "he said.

Financial results

 As passenger movement recovers, more routes resume, flight frequencies increase, and commercial concessions are awarded for the duty-free business line at both terminals, Tocumen's financial situation also improves. 2022 closed with 242.2 million dollars in income, with a variation of -5% compared to 2019. For the year 2023 an income of 278.9 million dollars is estimated, that is, 15.1 more compared to the year 2022.

 Complying with Law No. 23 of January 29, 2003 that creates Tocumen S.A., it complied with its contributions to different state entities.

Civil Aeronautics Authority 3.2 million dollars, Panama Tourism Authority 6.2 million dollars and the National Commission for the Prevention of Sexual Exploitation Crimes (CONAPREDES) 627,414 dollars.

 Regional Terminals

 As for the regional terminals managed by Tocumen S.A., the Enrique Malek International Airports in the Province of Chiriquí, the Panama Pacifico International Airport and the Scarlett Martínez Airport in Río Hato, together handled a total of 354,813 passengers, while the domestic terminal handled 147,029. passengers, which contributes to the generation of direct and indirect jobs, the promotion of tourism and the economic recovery of the country.

In terms of infrastructure, Tocumen has managed to complete other important projects in 2022 that provide greater opportunities for connectivity, reactivation of the economy, and promotion of tourism in different regions of the country.

 This is the case of the Enrique Malek International Airport in the Province of Chiriquí, the Panama Pacífico International Airport, the Enrique Adolfo Jiménez de Colón International Airport, which included modernization and improvements to the infrastructure, rehabilitation and maintenance of runways, taxiways and platforms, river channels, among other adjustments, with a total investment of more than 3 million dollars.

After three years of pandemic, the outlook is less turbulent for Tocumen. However, the scenario for the airline industry continues to be uncertain due to the global situation, although with a more optimistic outlook.

 Although the results to date and the end-of-year projections are encouraging, the manager of Tocumen, S.A. considers that we must be cautious for this year 2023, since the air transport industry has not yet recovered from the most serious health crisis that humanity has experienced in a century and with risks of "some economies going into recession, but despite economic uncertainties there are many reasons to be optimistic in 2023.” Text source: tocumenpanama.aero

WHY PANAMA?

 Panama is the most advanced country in Central America, best known for its Interoceanic Canal, for its Banking Area, and for its Free Zone.

 It is a beautiful and exotic tropical paradise, two and a half hours from Miami, located on a narrow strip of land that connects North America with South America.

Panama is located in Central America, bordering on the southeast of Costa Rica. There are daily direct flights to Panama from Miami, New York, Los Angeles, Houston, Atlanta, South America and the Caribbean. Traveling by plane to Panama from Miami takes 2.5 hours and most cruise ships also disembark at its ports.

 Panama has received the highest rating in tourism security by the world-renowned Pinkerton Intelligence Agency. The stability of the government has been characterized for decades and the local population sees tourists and foreign investors as friends who help in the development of the local economy.

Unlike its neighbors, Panama is not affected by hurricanes or earthquakes. Additionally, Panama has different types of climates ranging from the cold in the high mountains to the heat of its beautiful beaches in the Pacific and Atlantic oceans as well as the tropics in its forested areas.

 The temperature is usually warm in the lowlands throughout the year with high temperatures of 90ºF and low temperatures of 72ºF. The temperature in the mountains is much cooler and the rainfall is more intense on the Caribbean side and less on the Pacific coast side, which is where Panama City is located.

Panama has many natural resources to enjoy such as its beautiful beaches along the Pacific and Atlantic beaches, exuberant vegetation, with a great diversity of flora and fauna, numerous islands along its coasts, beautiful coral collections, and a great variety of peaces in its seas. Panama is a tropical paradise to discover and enjoy.

 The AARP Magazine (American Association of Retired Persons) has classified Panama as one of the four most important destinations to live abroad. If you have dreamed of finding a tropical paradise with white sands, beautiful landscapes, rich biodiversity, all kinds of modern life facilities and a population that invites you to feel at home, then Panama is your ideal destination.

  • Tropical climate all year
  • Cold if you go to the mountains
  • Lush vegetation and fauna
  • Beautiful beaches on the Atlantic and the Pacific
  • You can choose between living in the capital, cities in the interior, countryside, mountains, lakes, beaches and rivers.
  • top quality water

  • air without pollution
  • Free movement of the dollar
  • Special discounts for all seniors in shops and services
  • international banking center
  • Great opportunities to invest
  • The best malls in America
  • Numerous housing projects with very affordable prices, for all economic levels

  • Numerous restaurants with international cuisine, Mexican, Argentine, Brazilian, Swiss, German, Spanish, Indian, Arabic, Panamanian and many more
  • Events, fairs, large parades, art exhibitions, concerts, plays, day and night entertainment, as well as internal tourism.
  • International schools in English
  • prestigious universities
  • democratic government
  • Stable economy
  • Excellent communications system
  • Labor at affordable prices

General Information about Panama

 Panama is a sovereign country of America that is located in the extreme southeast of Central America, which is also its subdivision. Its official name is the Republic of Panama and its capital is Panama City. The republic is made up of 9 provinces and 6 indigenous regions. It limits to the North with the Caribbean Sea, to the South with the Pacific Ocean, to the East with Colombia and to the West with Costa Rica. It has an extension of 77,082 km². Located on the isthmus that joins South America with Central America, its mountainous territory is only interrupted by the Panama Canal. Its population is 3,474,562 inhabitants.

Official Name: Republic of Panama.

Capital: Panama City.

Nationality: Panamanian.

Land Area, Population and Density: 75,517 Km2. squares; 2,839,177 inhabitants, 81 inhabitants per square mile.

Political Division: 9 provinces and 6 counties.

Government: Presidential Republic.

Official language: SPANISH.

Other Languages: English.

Climate: Tropical and the temperature is usually uniform throughout the year. The average temperature is 27 degrees C.

Catolic religion.

Currency: The Balboa and the U.S. dollar. Panama's own coins are equivalent in size and value to those of the United States.

Welcome to Panama

Geographically located in Central America and bathed by the Atlantic and Pacific oceans, Panama has a strategic position to unite the American continent with the world, thanks to the Panama Canal and the Hub of the Americas, through its national and international airlines.

With its sustained economic growth and a great opening to foreign investment, Panama has become the center of many businesses, as well as the residence of citizens from all over the world, who are looking for a friendly, comfortable, safe, economical and beautiful place.

Panama welcomes everyone and Tsar Events Panama will be happy to assist you with any possible needs in Panama Republic!

Tsar Events PANAMA DMC & PCO team will help you with reservation in any hotel in Panama or with planning of any event there.

We opened our office in Panama in 2016. Since then we provided incoming services in Panama for thousands satisfied clients from different countries.

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Tsar Events Panama DMC will help you with ANY activity in Panama Republic. It can be:

  • Business Meetings & Conference
  • Incentive programs
  • Special Events
  • Site-inspections & Famtrips
  • Event Design, Décor & Production
  • Transportation & Logistics
  • Entertainment
  • Dining Experience
  • Tour Program
  • Team Building & CSR
  • Accommodation selection

If you need anything in Panama Republic, we will be happy to help you to plan and operate your event or program.  

Please, look at SAMPLE PROGRAM that we have prepared for you to show what can be organized for your clients in Panama.

Just let me know and we’ll prepare tailor made program for you to face all your individual requirements.

Tsar Events Panama DMC can help you with your clients who wants to have private tailor-made program while their ship stops in Panama port. We provide all types of Ground Handling Services for Cruise Lines in Panama ports.

For Groups & Individual guests arriving to Panama by Cruise ships we will help you with:

  • Tailor made shore excursions, cultural sightseeing, outdoor adventures, discovery tours 
  • Private Transportation & Guides for tailor made itineraries (WE OWN OUR OWN FLEET)
  • Delightful lunch & Dining, Dine around, Gala dinners, Catering services
  • Special Interest Tours
  • Hotel sugestions & booking
  • Limousine & Private Cars & VIP Sevices
  • Musical Enterainement & Performers, Shows
  • Co-ordinating pre and post-cruise stays (hotels, transfers and assistance)
  • Other Destination Management Services