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New data released by the International Air Transport Association (IATA) indicates that aviation and tourism related services contributed $5.9 billion dollars to Panama’s economy in 2013, equivalent to 12.6% of GDP, an amount well above the 3.4% overall global average.
This result is one of the highlights found in the report, “Economic Benefits from Air Transport in Panama,” a study commissioned by IATA and conducted by the independent research firm, Oxford Economics.
The study highlights the importance of aviation for Panama’s economy and the role the sector plays as a major employer. For the period measured, the sector generated 43,500 direct jobs and 137,500 indirect jobs related to tourism.