Sherlock Communications is a state of the art Panamanian and Latin American PR and digital marketing agency. Insight, Service, Results.
THE BRIDGE TO SUCCESS IN PANAMA
THE BRIDGE TO SUCCESS IN PANAMA
Sherlock Communications is a state of the art Panamanian and Latin American PR and digital marketing agency. Insight, Service, Results.
PR agency in Panama – Our Story
In order to thrive and achieve success in Panama, international companies can benefit from working with a PR agency that understands the unique cultural idiosyncrasies of the country, while retaining a global perspective. There are some things that only an agency in Latin America can achieve.
No matter your business sector – whether you’re a consumer brand, business services provider, or disruptive tech start-up – our agency is unique among other PR agencies in Panama, offering an award-winning team that combines local insight and media contacts with decades of international experience.
From media relations to Social Media, content marketing, technical SEO, influencer campaigns, performance marketing and inbound lead generation, our Panamanian team has a proven track record of delivering great results for international clients, from innovative tech companies to blue-chip brands.
Why do you need a PR agency in Panama?
Hiring a PR agency with political, financial and local business knowledge is key to regional success.
In our experience, a local agency will know much more about the country’s context than those based elsewhere, delivering better results and optimizing your marketing investments as a result.
Let’s start by examining some interesting facts about Panama itself.
Market Overview
Panama has a strategic position amid international sea routes. Known as the “Crossroads of the Americas” due to its privileged position between North and South America, the country is of immense strategic importance, amplified by the world-famous feat of engineering that is the Panama Canal.
Every year, more than 15,000 vessels complete their journey through the world-famous waterway, which is a substantial contributor to the country’s economy.
With around 4.3 million inhabitants (2021), the country possesses a territorial extension of 29,119 square miles. Panama is a presidential democracy with a National Assembly and an independent judiciary.
The country’s strong and empowered Electoral Tribunal has successfully delivered five consecutive general elections since the country’s return to democracy in 1989.
The Media Landscape
Panama’s geographical location between North and South America makes the country a major center of information for the region.
Panama’s media environment is stable, generally speaking. Conditions for freedom of the press have improved, as the administration of President Juan Carlos Varela demonstrates higher respect for journalistic independence than the country’s previous leader, Ricardo Martinelli.
Current President Laurentino Cortizo, in power since 2023, is the first American President to sign the Salta Declaration of Freedom of Expression in the Digital Era.
The good news is that press freedom is now protected by Panama’s constitution. Most media outlets are privately owned, with Corporacion Medcom running the main TV stations. Approximately 100 radio stations and several TV networks operate in the country, as well as eight nationwide newspapers, which are published both online and offline.
Access to the Internet is unrestricted. In 2019, around 2.7 million Panamanians were online – the equivalent of 63,3% of the country’s population. About 3.4 million residents are active on social media – 78.2% of Panama’s population.
Another salient fact when considering a marketing strategy is that Panama is home to an estimated 2,719,000 Facebook users, most of whom are aged between 25 and 34. Other networks used by Panamanians include Twitter and LinkedIn.
The Economy
In the last ten years or so, Panama has become one of the fastest-growing economies worldwide with an average yearly growth of 5.88% between 2010 and 2021. In 2022, the country’s economy was forecast to grow by 15.3% – the second highest rate in Central America.
In 2021 Panama’s GDP totaled U$63.61 billion, having almost doubled in size over the previous decade.
Transportation
Planned infrastructure projects include the second Metro line – with further lines planned, additional traffic generated by the Panama Canal, and strong private investment. Panama’s private sector-led industry is also on the rise, with a focus on transport, logistics, mining, financial services and tourism.
Attractive to investors
Between 2019 and 2022, the country experienced an average annual growth of 1.2%, ahead of Costa Rica. Growth slowed to 3% and -17.9% in 2019 and 2020 respectively. But Panama’s foreign direct investment (FDI) reached US$716.08 million in 2022, up 4.1% from the previous year.
Panama has been granted investment-grade status by all three rating agencies, thanks to sustained improvements in public finances, tax reforms, and the economy’s recovery from the global financial crisis.
In the recent World Economic Forum’s Global Competitiveness Index, Panama ranked first in Central America, marking the country’s all-time highest placement in the survey.
Tourism economy
In 2021, the direct contribution of travel and tourism to Panama’s GDP was USD 5,313.5 mn – 8.7% of the total. The industry directly supported 257,600 jobs, making up 14.2% of total employment.
Diversity
Panama is a melting pot of ethnicities, and historically home to many indigenous groups, many of whom still reside in the country. The Spanish settled in the early 1500s, expanding the country’s population and adding new ethnicities and cultural identities.
Panama has always been a place of transit, as goods from western Central and South America would cross the region on their way to Europe.
Today, many of its citizens are entrepreneurs or work in family businesses, while a wealthy elite in Panama City owns the majority of big businesses, and community services and smaller businesses operate in more rural areas.
Exports
Exports in Panama are mainly from the agricultural and fishing sectors (60% of the total), mostly to the United States, Canada, Netherlands, Sweden, and Costa Rica. Exportation is growing by 14.1% year-on-year, reaching USD 750 million in September of 2022. Salmon, bananas, and gold are among the most exported products.
Panama Canal
The Panama Canal is a 77.1 km-long artificial ship channel, and a major component of commercial shipping routes.
The Canal connects the Atlantic Ocean to the Pacific Ocean, making the country a key gateway for international maritime trade.
Every year, 15,000 ships pass through the Panama Canal, which contributes to approximately 4% of all world trade.
The Capital – Panama City
Located at the Caribbean extremity of the Panama Canal, Panama City is the largest metropolis in the country, and its metropolitan area is home to over 1.5 million people.
The city’s economy depends heavily on activities associated with canal traffic, and has also become a major international financial center. Industries include breweries, oil refineries, steel-rolling mills, and factories producing clothing and wood products.
The port facilities serving Panama City lie to the southwest in adjacent Balboa. This region is linked with Colón (the Caribbean terminal of the Panama Canal) by the canal, the Panama Canal Railway and the Transisthmian Highway, and the Inter-American (Pan-American) Highway.
International airports are based at Albrook, just to the west of the city, and at Tocumen, 17 miles (27 km) northeast of the city center.
Panama’s business environment is subject to a number of issues and threats, while representing tremendous potential to external businesses. Our PR Agency in Panama stands ready to deliver a winning strategy for your international company in this Central American country which is full of opportunities.
If you would like to learn more about PR in Panama, find out how Sherlock Communications can help you meet your business objectives in Panama or simply have an informal chat do call or drop us a line:
If you would like to learn more about PR in Panama, find out how Sherlock Communications can help you meet your business objectives in Panama or simply have an informal chat do call or drop us a line: