Exploring the Middle of the Continent.

The tapestry of business in Central America is rich and varied

Panama

Panama City is the Hong Kong of Latin America. Just look at its modern skyline, huge international banking community and multitude of regional headquarters for multinationals. It's sophisticated and cosmopolitan, yet nonetheless retains a tropical informality that can make doing business a pleasure. This year, the Panama Canal reverts to local control, and the U.S. military withdraws its presence.

Meanwhile, the government of Panama is making major efforts to attract more foreign investment and to become a capital of free trade. The U.S. dollar is legal tender in Panama. Locals often refer to currency as the Balboa, but no Balboa, bank notes exist in circulation. Panamanian and U.S. coins are both used.

Costa Rica 

Costa Rica, often called the Switzerland of the Americas, is one of the most stable countries in Latin America. Its economic lifeblood is tourism, particularly eco-tourism. plus agricultural exports. The rainy season, which brings daily afternoon downpours, lasts from May to November. Bring an umbrella. For the dry season, bring a sweater or light jacket because evenings are cool.

Guatemala

In Mayan times, Guatemala was among the new world's leading centers for commerce and culture. While history eclipsed its significance, the country's government and business leaders have embraced the tenets of free trade and hope someday to restore its importance on the world stage. Coffee remains a mainstay of the economy, but efforts are under way to attract more industry.

Nicaragua

Perhaps no Latin American capital has suffered more than Managua over the past 30 years. The downtown was destroyed by an earthquake in 1972 and is still in ruins. Later came revolution, civil war and economic free-fall; last year, Hurricane Mitch paid a destructive visit. Yet Managua somehow survived. And in recent years, the business community and the government have joined forces to promote free-market economics and stability.

El Salvador 

El Salvador has emerged from a decade of civil struggle to see democracy and pro-business policies take hold. Thanks to joint ventures with foreign investors and a long tradition of home-grown entrepreneurship, the economy is expanding and a significant in-bond assembly industry has sprung up. The major business center is San Salvador, the capital.

Honduras

Honduras was hard-hit by Hurricane Mitch in the fall of 1998, and recovery efforts are continuing in the countryside. The commercial center of Tegucigalpa centers on Boulevard Morazan. Like many cities in Central America, street addresses can be colorful and descriptive; for example: Blvd. Morazan, Contiguo Sucursal Banco El Comercio, Frente a Restaurante China Town. (On Boulevard Morazan, next to the Banco El Comercio branch, across from the China Town Restaurant.) The other important business city is San Pedro Sula.

CENTRAL AMERICA FAST FACTS

POPULATION: 2.8 million * AREA: 75,517 sq. km. * GDP [*] (1998): US$ 8.8 billion * GDP [*] PER CAPITA: US$ 3,196 * EXPORTS (1998): US$ 6,627 million * IMPORTS (1998): US$ 7,691 million * LITERACY RATE: 90.8% * LIFE EXPECTANCY: 74 years * LANGUAGE: Spanish * TELEPHONE COUNTRY CODE: 507 * CURRENCY: US$1 = 1 Balboa (As of May 21, 1999) * JANUARY MEDIAN TEMPERATURE: Panama City: 26 Centigrade, 78.8 Fahrenheit * JULY MEDIAN TEMPERATURE: Panama City: 26.5[degrees]C/ 79.7[degrees]F

PANAMA

POPULATION: 3.8 million * AREA: 51,000 sq. km. * GDP [*] (1998): US$ 9.8 billion * GDP [*] PER CAPITA: US$ 5,835 million * LITERACY RATE: 94.8% * LIFE EXPECTANCY: 76 years * LANGUAGE: Spanish * TELEPHONE COUNTRY CODE: 506 * CURRENCY: US$1 = 282.95 Colones (As of May 21, 1999) * JANUARY MEDIAN TEMPERATURE: San Jose: 18.9 Centigrade, 66 Fahrenheit * JULY MEDIAN TEMPERATURE: San Jose: 20.6[degrees]C/ 69.1[degrees]F

COSTA RICA

POPULATION: 10.8 million * AREA: 108,890 sq. km. * GDP [*] (1998): US$ 16.5 million * GDP [*] PER CAPITA: US$ 1,526 * EXPORTS (1998): US$ 2,582 million * IMPORTS (1998): US$ 4,250 million * LITERACY RATE: 55.6% * LIFE EXPECTANCY: 66 years * LANGUAGE: Spanish * TELEPHONE COUNTRY CODE: 502 * CURRENCY: US$1 = 7.26 Quetzales (As of May 21, 1999) * JANUARY MEDIAN TEMPERATURE: Guatemala City: 17 Centigrade, 62.6 Fahrenheit * JULY MEDIAN TEMPERATURE: Guatemala City: 21[degrees]C/9.8[degrees]F

GUATEMALA

POPULATION: 4.8 million * AREA: 129,494 sq. km. * GDP [*] (1998): US$ 2.2 billion * GDP [*] PER CAPITA: US$ 451 * EXPORTS (1998): US$ 610 million * IMPORTS (1998): US$ 1,391 million * LITERACY RATE: 65.7% * LIFE EXPECTANCY: 67 years * LANGUAGE: Spanish * TELEPHONE COUNTRY CODE: 505 * TELEPHONE CITY CODE: Managua: 2 * CURRENCY: US$1 = 11,69 Cordobas (As of May 21, 1999) * JANUARY MEDIAN TEMPERATURE: Managua: 26.5 Centigrade, 79.7 Fahrenheit * JULY MEDIAN TEMPERATURE: Managua: 28.5[degrees]C/83.3[degrees]F

NICARAGUA

POPULATION: 6 million * AREA: 21,040 sq. km. * GDP [*] (1998): US$ 10.4 billion * GDP [*] PER CAPITA: US$ 1,724 * EXPORTS (1998): US$ 2,446 million * IMPORTS (1996): US$ 3,720 million * LITERACY RATE: 71.5% * LIFE EXPECTANCY: 70 years * LANGUAGE: Spanish * TELEPHONE COUNTRY CODE: 503 * CURRENCY: US$1 = 8.75 Colones (As of May 21, 1999) * JANUARY MEDIAN TEMPERATURE: San Salvador: 23 Centigrade, 73.4 Fahrenheit * JULY MEDIAN TEMPERATURE: San Salvador: 24.5[degrees]C/ 76.1[degrees]F

EL SALVADOR

POPULATION: 6.1 million * AREA: 112,088 sq. km. * GDP [*] (1998): US$ 4.4 billion * GDP [*] PER CAPITA: US$ 723 * EXPORTS (1998): US$ 2,010 million * EXPECTANCY: 68 years * LANGUAGE: Spanish * TELEPHONE COUNTRY CODE: 504 * CURRENCY: US$1 = 14.15 Lempiras (As of May 21, 1999) * JANUARY MEDIAN TEMPERATURE: Tegucigalpa: 19.5 Centigrade, 67.1 Fahrenheit * JULY MEDIAN TEMPERATURE: Tegucigalpa: 22.5[degrees]C/72.5[degrees]F

HONDURAS

(*.)1995 constant prices