During this month of March 2017, the president of Panama, Juan Carlos Varela, sanctioned a law which creates the International Tourism Promotion Fund, a public-private formula that will boost the development of this sector in the country.

The Law creates a trust whose funds will be used to promote the country internationally through public and private management, which will receive contributions from the Central Government and municipalities.

The law provides the Tourism Authority of Panama (“ATP” for its initials in Spanish) with a financial structure that will serve to streamline international policies, programs and projects to attract tourists.