Some 5,000 Panama hotel workers have lost their jobs in the last year as hotel occupancy continues its downward spiral with a 6%  drop in the first six months of 2018 forcing hotels to cut expenses.

the Panamanian Association of Hotels (Apatel) reports that the rate per room fell this year from  $ between $6 and $90 a night. Five years ago the average price per standard room in the province of Panama was between $135 and $140. The Tourism Authority of Panama attributes the fall to the crisis affecting countries in the region and the valuation of the dollar.