The significance of the Panama Canal in worldwide transportation business is well known and subject of numerous and on-going studies. However, the role in the recreational navigation is almost always forgotten.
This paper analyzes historical data of crossings by recreational vessels and explores the impact that the canal has on economic growth of the boating industry in Panama and the region.
Analysis of recreational traffic by type of vessel, direction, origin and destination over a period of significant changes in Panama will provide quantitative data regarding market potential of several boating industry businesses. Clear traffic patterns and seasonal migrations of sailing yachts and megayachts can be observed by analyzing the data. This type of traffic analysis has been done in the past in the context of marina market studies, but it is here expanded with more recent data.
The detailed study of recreational traffic statistic is then used to provide insight into the economic impacts at a regional level. While only a preliminary assessment of impacts is included, it is argued that major benefits have been provided to the nautical tourism sector, which has strategic interest for the tourism development of Panama, as well as to the recreational navigation industry (from marinas to yacht brokers).
This analysis illustrates yet another way in which the Panama Canal contributes to the sustainable and widespread economic growth of the country and the region.