|  | Tourism: General Information: Official name: Republic of Panama.
Capital: Panama City.
Official Language: Spanish.
Climate: Tropical, with two seasons: dry and rainy.
Taxes: All purchases are required to pay a 5% Tax on the Transfer of Movable Property (ITBM), except medicines, uncooked food and school supplies. All services also pay a 5% tax, except medical and educational services.
Tips: Tips are not included in the price at the majority of restaurants. It is customary to tip between 10% and 15% of the total bill amount.
Geographic distribution: 9 provinces (Bocas del Toro, Cocle, Colon, Chiriqui, Darien, Herrera, Los Santos, Panama and Veraguas) and 5 indigenous reservations (Kuna Yala, Embera Wounan, Kuna Madungandi, Kuna Wargandi and Gnobe Bugle).
Land Mass: 75.517 km2.
Population (2000 Census): 2,839,177 inhabitants.
Distribution by age (in %): 0-14 years, 37.0%, 15-59 years, 56.3%, 60+ years, 6.7%
Ethnic groups: 70% mestizo, 10% white, 12% mulatto and 8% indigenous.
Literacy rate: 90%
Currency: the Balboa; 1 balboa = 1 US dollar, the US dollar circulates freely throughout the country.
Native dress: the Pollera (women) and the Montuno (men).
National flower: flower of the Holy Spirit.
Religion: 93% Roman Catholic, 6% Protestant. There is full respect for freedom of worship.
Government: Constitutional democracy. State divided into three branches: Executive (President, two vice presidents), Legislative (Legislative Assembly) and Judicial (Supreme Court of Justice). Independence: Panama gained its independence from Spain on November 28, 1821, and separated from Colombia on November 3, 1903.
National Holidays: January 1 – New Year’s Day, January 9 – Martyrs Day, (movable date) Mardi Gras, (movable date) Good Friday, May 1 – Labor Day, November 3 – Panama’s Separation from Colombia, November 10 – First Cry of Independence, November 28 – Panama’s Independence from Spain, December 8 – Mother’s Day, December 25 – Christmas Day.
Main economic activities: trade, services, banking and finance, tourism, agriculture, fishing and cattle-growing, multimodal transportation.
Panama Canal The Panama Canal, located at the narrowest spot of land between the Atlantic and Pacific, provides a short route for transit between the two oceans. It is a basic pillar of world trade, and is transited mainly by merchant vessels, oil carriers, and container and bulk carriers. Banking Center Panama is the region’s most important banking center, with 69 official banks having general and international operating licenses, including many of the largest and most prestigious banks in North America, Europe, Asia and Latin America. Panama’s banking center is an important complement to export and sale activities of Panamanian services and the Colon Free Zone.
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