This proposal aims to persuade the Wyndham Hotels management to consider opening a new hotel in Panama, Central America. Panama is a country full of natural beauty and a perfect location for a luxury hotel to enhance the Wyndham brand. With over 95 international hotels, Wyndham has an excellent reputation, making Panama a suitable addition. In this proposal, I will outline the many reasons why expanding to Panama is a smart business move for Wyndham.

Keywords: Panama, Business, Tourism

I. Introduction:

Wyndham Hotels is an international hotel chain that strives to provide luxury accommodation to travelers worldwide. Panama has become a popular tourist destination, attracting visitors with its rich history, culture, and natural landscapes. A Wyndham hotel in Panama would undoubtedly be a valuable addition to the brand.

II. The People and Their Customs:

Panamanians have a rich cultural heritage, with a mix of indigenous, European, African, and Caribbean ancestry. Their first language is Spanish, but many locals speak English. Family plays an essential role in Panama, and traditional gender roles are respected. Panamanians are respectful and friendly people who take pride in their country. They observe Catholicism as their primary religion, but they embrace diversity and celebrate many religious festivals throughout the year.

III. Values, Customs, and Religion:

Panama's dress code is conservative and formal, emphasizing modesty and decency. The traditional attire includes a montuno shirt and black pants for men and beautiful dresses for women called "polleras." Panamanians are known for their traditional folkloric dances, accompanied by salsa music. In business settings, handshakes and eye contact are essential aspects of social interaction. Panama is a socially laid-back country with little desire to discuss politics or race.

IV. Thriving Economy:

Panama's economy is thriving, with a stable political climate and a central location that makes it an ideal location for a hotel. Panama ranks third among the top ten countries in Latin America regarding GDP growth rate. Its location, natural resources, and strategic investments have resulted in a great climate for business.

V. Politics and Government:

Panama has a democratic government that promotes business-friendly laws and regulations. The country has a friendly relationship with the United States, making it a trusted destination for tourists. Panama's government has made investments in key sectors and created incentives to promote economic growth. Panama continues to develop and modernize its infrastructure, creating a stable environment for businesses.

VI. Business Practices:

The business practices in Panama are compatible with international standards, making it an attractive destination for foreign investments. Panama has a sophisticated banking system, a favorable tax regime, and a competitive workforce. The country's strategic location, access to major international seaports, and modern transportation infrastructure, including the Panama Canal, make it an ideal location for a hotel.

VII. Proposed Expansion:

Wyndham Hotels can achieve success in Panama by capitalizing on the country's thriving economy, political stability, and location. A hotel in Panama can attract business travelers and tourists exploring destinations like the Panama Canal, national parks and beaches. Panama has significant potential as a tourism destination and Wyndham can contribute to the growth of the country's industry by expanding to Panama.

VIII. Illustration List:

1. Website: biomuseo.org/en

2. Website: istockphoto.com

3. Banco Nacional website: banconal.com.pa

4. Economic activity map: Wikipedia website: map-en.wikipedia.org/wiki/geography_of_Panama

5. Personal Photos, Jessica Cromer, 2022

6. Website: Transitionsabroad.com

7. Website: Pexels.com.

Panama boasts a democratic political system that is comparable to that of the United States, featuring three judicial branches. The country's presidency is served by a president and two vice presidents who hold a five-year term in office. The minimum age for voting in Panama is 18 years old. The political climate in the country is stable and it is open to foreign investors, which makes it an ideal location for Wyndham Hotels & Resorts to expand its business in the area. Panama provides ample resources and contacts for companies like us to understand and comply with legal requirements while doing business in the country.

We discovered that through the state government website report for the year 2020, there are many resources available to make the process of doing business in Panama easier for companies such as ours. This website also provides a link to businesses that would like more information on how to register and start doing business in Panama, which is https://www.panamaemprende.gob.pa/.

I strongly recommend that we consider the area of Bocas Del Toro in the interior section of Panama as the ideal location for our new Wyndham hotel. The region's rustic feel and its proximity to the city, beaches, and mountains make it a popular destination for many people. It is vital to include a restaurant with open-air seating that serves local cuisine to make our hotel a success. With the hotel's presence, we will be providing gainful employment to many locals in the area and this will be a positive contribution to our hotel's success. I am confident that our presence in the growing economy of Panama will enable our hotel business to thrive in the coming years.

Sources:

Hassig, Queck, Nevins, (2017). "Cultures of the World, Panama", Cavendish Square Publications.

Blashfield, J.(2015), "Panama, Enchantment of The World".

Morrison, T & Conaway, W, "Kiss, Bow or Shake Hands: Latin America", (2007).

Mendoza, E, (2020), "A guide for Doing Business": https://www.pwc.com/interamericas.

Website: https://www.state.gov/reports/2020-investment-climate-statements/panama/.