Panama and Royal Caribbean Cruises Ltd agreed on Monday to make the Central American country the starting point for some of its tour operations in a bid to boost the cruise operator's presence in the region.
Boosting presence: In its first season, which the company plans to kick off in late 2008, Royal Caribbean will operate 17, one-week cruises from Colon, Panama's main Caribbean port
The agreement could attract Central American and European tourists hoping to avoid tight US visa requirements necessary for Miami, from where many popular Caribbean-bound cruises depart.
Adam Goldstein, Royal Caribbean's president, said that in the first year of operation, the Panama deal would represent around one per cent of annual sales.
Royal Caribbean, the world's second-largest cruise operator after Carnival Corp, reported second-quarter revenue of US$1.5 billion last week.
In its first season, which the company plans to kick off in late 2008, Royal Caribbean will operate 17, one-week cruises from Colon, Panama's main Caribbean port.
The mega-class cruise liner Enchantment of the Seas will leave Colon, calling at ports in Colombia, Aruba and Curacao.
Panama's vice-president Ruben Arosamena, who is responsible for maritime affairs, said the deal marked the beginning of a new industry for Panama.
Royal Caribbean operates 35 ships in Europe, North America, South America, but the bulk of the firm's business comes from the Caribbean.
Panama's economy grew a healthy 8.1 per cent in 2006, lifted by increased trade, a construction boom, banking and shipping.
Boosting presence: In its first season, which the company plans to kick off in late 2008, Royal Caribbean will operate 17, one-week cruises from Colon, Panama's main Caribbean port
The agreement could attract Central American and European tourists hoping to avoid tight US visa requirements necessary for Miami, from where many popular Caribbean-bound cruises depart.
Adam Goldstein, Royal Caribbean's president, said that in the first year of operation, the Panama deal would represent around one per cent of annual sales.
Royal Caribbean, the world's second-largest cruise operator after Carnival Corp, reported second-quarter revenue of US$1.5 billion last week.
In its first season, which the company plans to kick off in late 2008, Royal Caribbean will operate 17, one-week cruises from Colon, Panama's main Caribbean port.
The mega-class cruise liner Enchantment of the Seas will leave Colon, calling at ports in Colombia, Aruba and Curacao.
Panama's vice-president Ruben Arosamena, who is responsible for maritime affairs, said the deal marked the beginning of a new industry for Panama.
Royal Caribbean operates 35 ships in Europe, North America, South America, but the bulk of the firm's business comes from the Caribbean.
Panama's economy grew a healthy 8.1 per cent in 2006, lifted by increased trade, a construction boom, banking and shipping.