The Real Deal Miami

Florida developers head to Panama

September 08, 2008 10:46AM

As the Latin American nation of Panama undergoes a tourism and development boom, Florida companies are taking a piece of the action in a place that is emerging as a rival destination for South Florida, with some travel professionals calling it the new Miami. Panama saw the fastest growth in international arrivals in the hemisphere last year: up 30 percent to 1.1 million. The Seminole Tribe’s Hard Rock International plans its first Latin American hotel in Panama. Miami-based Nikki Beach Hotels & Resorts plans an oceanfront resort and a city tower. Additionally, Florida designers, architects and other service firms are working on projects in the tropical nation of 3.2 million residents.