At present, northern neighbour Costa Rica heads the charge with 1999 tourism earnings topping one billion dollars, led by high-end eco-tourist packages offering well-heeled visitors fauna-rich rainforest and cloud forest experiences.
But developers hope that the Gamboa Rainforest Resort, located in 340 acres (138 hectares) of pristine jungle overlooking the headwaters of the Panama Canal, will give Panama a competitive edge in a booming regional tourist economy that grew 16.2 percent last year.
``Location is No. 1. It is one of the most accessible rainforests in the world,'' the project's international sales manager Victor Pitti told Reuters. ``Gamboa is just 35 minutes from Panama City, and 45 minutes from the international airport,'' he added.
The 107-bedroom facility is set to offer affluent visitors on-site educational and adventure-packages pitched between $270 and $585 for three nights.
Showcasing rainforest surroundings in a theme-park style, facilities include boat trips to spot wading birds and turtles along the jungle-fringed Chagres River, and aerial tram rides through the forest canopy, using Swiss ski-resort technology.
Working with specialists from the Smithsonian Tropical Research Institute, the resort has developed on-site orchid, butterfly and reptile house exhibits, plus an aquarium filled with gnarly alligators hauled out of the nearby Chagres River.
Financed in part through a bond issue on the local stock exchange, Gamboa's backers are also banking on the hope that the facility can attract corporate clients. In addition to jungle tours, the resort has a conference center.