A report yesterday showed that Panama City has the second highest hotel occupancy rate of any city outside of the United States. Panama, which had a hotel occupancy rate of 84.7 percent, was topped only by Perth, Australia. The report states that global tourism grew at a pace of 6 percent in 2024, partly due to the increase of discount and low budget airlines.
The hotel occupancy index, which is published by Deloitte, commends Panama City as being the first Latin American city to be featured on the list. The report states that tourism in Panama increased 27 percent in 2024, much higher than the expected 15 percent increase. In addition to this, Panama City showed an impressive 37.9 percent increase in revenue per available hotel room.
Even with the global economy on the rocks, it appears as though Panama is one of the strongest locations for tourism in the Americas. Tourists from Europe and Asia are likely to take advantage of the weakened dollar and visit Panama, which has been building its reputation as a safe and easily accessible destination. It is for these reasons that Panama City is likely to retain one of the highest hotel occupancy rates outside of the United States.
Read the report from Deloitte (.pdf)
Source:
Australia’s Perth Has The Highest Hotel Occupancy Outside US (Bloomberg.com)
