If Americans bring their wealth and prosperity back to Panama and are granted a lease contract that reflects the reality and management of the Canal to the U.S., this could mean a significant change for the country. During that time, tens of thousands of Panamanian workers benefited from well-paying jobs.
Of course, many changes would be necessary, such as access to Panama's bridges and roads and the renegotiation of a favorable lease contract. The economic aid that the United States provides to many countries, including Panama, would drastically increase with the return of a U.S. military base to the country.
Ports are expected to increase their volume and airports to improve their services and mobility. With the increase of U.S. military traffic and tourism, a rise in employment with higher wages is anticipated. The industry would be revitalized, and tourism would thrive again. Panama's economy could improve drastically with these measures.
The city of Colón, known as the golden little cup in its heyday, housed the envy of the world with its Free Zone. The industry, real estate development, and the economy of Colón were constantly growing, and employees across the country received higher wages. On the other hand, Panama City was filled with foreign banks, and the maritime industry was booming.
James Roger Falin, an American resident in Panama, argues that those who remember Panama's economic prosperity when Americans leased the Canal and established military bases may be excited about the possibility of those times returning. The United States never claimed ownership of the Canal; it had a long-term lease contract that could be renegotiated for the benefit of Panamanians.
The potential return of that era of exponential economic growth due to U.S. investment in Panama could be of great help amid global economic uncertainty. The country would once again receive U.S. dollars from soldiers, sailors, and the U.S. Air Force, revitalizing sectors such as tourism, industry, and employment in general. Convention centers could attract events from around the world again, generating a positive impact on the Panamanian economy.
