Panama · North America
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Capital and largest city of the Republic of Panama
Panama City, also known as Panama, is the capital and largest city of the Republic of Panama. It has a total population of 410,354 in the city proper and 1,086,990 in the Panama District, which includes the outer corregimientos of the city. The metropolitan area has over 2,100,000 people. The city is at the Pacific entrance of the Panama Canal, in the province of Panama. The city is the political and administrative center of the country, as well as a hub for banking and commerce.
The city was founded on 15 August 1519, by Pedro Arias de Ávila, also known as Pedrarias Dávila. Within a few years of its founding, the city became a launching point for the exploration and conquest of Peru and a transit point for gold and silver headed back to Spain through the Isthmus. The Genoese-Italians and the Spanish encountered coconuts which had arrived from the Philippines before Spanish colonization. In 1520, Genoese merchants controlled the port and the commerce of the region, mainly for the slave trade, thanks to a concession given by the Spaniards, who had the Republic of Genoa as its main banking base. In 1671 Henry Morgan with a band of 1,400 men attacked and looted the city, which was subsequently destroyed by fire. The ruins of the old city still remain and are a popular tourist attraction known as Panamá Viejo (Old Panama). …
Panamá is between the Pacific Ocean and tropical rain forest in the northern part of Panama. The Parque Natural Metropolitano (Metropolitan Nature Park), stretching from Panama City along the Panama Canal, has unique bird species and other animals, such as tapir, puma, and caimans. At the Pacific entrance of the canal is the Centro de Exhibiciones Marinas (Marine Exhibitions Center), a research center for those interested in tropical marine life and ecology, managed by the Smithsonian Tropical Research Institute. Tropical forests around Panama are vital for the functioning of the Panama Canal, providing it with the water required for its operation. …
Panamá Viejo ("Old Panama") is the name used for the architectural vestiges of the Monumental Historic Complex of the first Spanish city founded on the Pacific coast of the Americas by Pedro Arias de Ávila on 15 August 1519. This city was the starting point for the expeditions that conquered the Inca Empire in Peru in 1532. It was a stopover point on one of the most important trade routes in the history of the American continent, leading to the famous fairs of Nombre de Dios and Portobelo, where most of the gold and silver that Spain took from the Americas passed through. Built and settled in 1671 after the destruction of Panama Viejo by the privateer Henry Morgan, the historic district of Panama City (known as Casco Viejo, Casco Antiguo or San Felipe) was conceived as a walled city to protect its settlers against future pirate attacks. …
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As the economic and financial center of the country, Panama City's economy is service-based, heavily weighted toward banking, commerce, and tourism. The economy depends significantly on trade and shipping activities associated with the Panama Canal and port facilities in Balboa. Panama's status as a convergence zone for capital from around the world due to the canal helped the city establish itself as a prime location for offshore banking and tax planning. Consequently, the economy has relied on accountants and lawyers who help global corporations navigate the regulatory landscape. The city has benefited from significant economic growth in recent years, mainly due to the ongoing expansion of the Panama Canal, an increase in real estate investment, and a relatively stable banking sector. There are around eighty banks in the city, at least fifteen of which are local. …
Panama's international airport, Tocumen International Airport is on the eastern outskirts of the city's metropolitan area. Two other airports serve Panama City: Panamá Pacífico, previously the Howard Air Force Base, and Marcos A. Gelabert, previously the Albrook Air Force Base. Pacífico serves Wingo, while Marcos A. Gelabert Airport is the main hub for AirPanama. Most other flights are served by Tocumen. The Panama Metro is a rapid transit system in Panama City, which links the north and east sides of the metropolitan area to the city center. The Panama Metro currently has two operating lines. There is a third line currently under construction. There are frequent traffic jams in Panama City due to the high levels of private transport ownership per kilometer of traffic lane. …
The city proper has 410,354 inhabitants in 13 corregimientos. There are 13 others that form the larger Panama District. The inhabitants of Panama City are commonly referred to as capitalinos and include large numbers of mestizos (70%), people with mixed Caribbean and European/Amerindian ancestry (14%), white people (10%), Amerindians (6%), as well as Afro-Panamanians. There is a great deal of cultural diversity within the city, which manifests itself in the wide variety of languages commonly spoken, such as German, Portuguese, French, Arabic, Chinese, Hebrew and English, in addition to Spanish.