Households: Panama

August 2023

The number of households is set to increase moderately in Panama over 2022-2027, with couples with children remaining the dominant household type. In 2022 household spending was affected by inflation, which stood at 2.9% elevating living costs. The fastest household expenditure growth is set to be recorded by other (extended) type of households. Urbanisation is set to intensify, placing Panama among the middle third countries in Latin America by 2027 in terms of urbanisation, while migration

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The Country Briefings series examine market potential, economic and consumer trends impacting each country and how they are set to change.

Each Country Briefing covers one of these topics:

Economy, Finance and Trade: Understanding the structure, health and potential risks of an economy are important for decision-making within an existing operating environment as well as for expansion strategies. Real GDP growth, inflation and exchange rate fluctuations will directly impact consumer market potential. Import and export trade profiles help gauge how open an economy is to trade and investment, while analysis of government finances can be used to explore macroeconomic stability and susceptibility to economic shocks.

Income and Expenditure: Insights into income, wealth and expenditure of consumers are vital in helping businesses make strategic decisions with regards to which country (or even which region within a country) to enter, which consumer segment to target, which products or services to market, and at which price point. Other factors such as the size and expansion of the middle class and income inequality are also important in helping companies gauge the potential of a country market.

Households: Global shifts in gender, ageing, migration and housing are transforming the size, location,  general make-up as well as income and expenditure of households around the globe, with diverse implications for governments and companies. Households insights can help identify the decision-making processes and consumption tastes of different household groups and types within a country, and assess household appliance and digital readiness that is key for formulating market technology and internet strategies.

Business Dynamics: A stable and competitive business environment is vital to operate efficiently and attract inward investment. Businesses can assess these factors alongside challenges such as corruption, political instability and terrorism, also gain insight into business operating environment and make strategic investment decisions. Transport infrastructure, ICT readiness and labour force dynamics will also identify potential issues with a supply chain and the level of workforce skills.

Commodities: Insights on key sectors directly related to the environmental commodities of a country such as energy, water, pollution, environmental resilience, forest and biodiversity and food and agriculture help businesses to make strategic decisions in relation to environmental and commodities trends, improve brand reputation and ensure long-term operations while ultimately growing the bottom line.

The briefings cover 103 countries and identify topics of crucial interest to planners, marketers and researchers.

Households: Panama

Chart 1 Household Profile: 2022-2027
Chart 2 Households by Number of Persons: 2027
Chart 3 % of Households by Number of Children: 2027
Chart 4 Households by Type of Household: 2027
Chart 5 Consumer Expenditure by Household Type in Panama: 2017/2022/2027
Chart 6 Household Head’s Sex and Employment in Panama: 2027
Chart 7 Households by Economic Status of Head of Household in Panama: 2027
Chart 8 Households by Age of Head: 2027
Chart 9 Household Penetration by Facilities: 2027
Chart 10 Household Possession of Kitchen Durables in 2027: % of Households
Chart 11 Household Possession of Other Durables in 2027: % of Households
Chart 12 Household Digital Penetration in Panama Compared to Global Average: 2027
Chart 13 Possession of Entertainment Electronics in 2027: % of Households
Chart 14 Possession of Other Electronics in 2027: % of Households
Chart 15 Key Metrics of Households Property Market: 2017-2027
Chart 16 Housing Stock by Construction Year
Chart 17 Households by Number of Rooms: 2027
Chart 18 Households by Size of Dwelling in Panama: 2027
Chart 19 Housing Completions and House Price Index in Panama: 2017-2023

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