Benefits of Panama Canal
The Panama Canal is generally regarded like an important engineering advancement as it spans about 50 miles or 80km long. The greatest user with regards to cargo tonnage is America, closely followed by Japan and China. In fact, this canal has offered the useful benefit of enhancing international trade by saving the distance of shipping important products.
1. Better telecommunication system
Due to the great Panama Canal, the city of Panama now benefits from 5 key submarine telecommunication loops that traverse throughout the city. The physical presence of the fiber optic cables offers unlimited capabilities with regards to worldwide communication. That is why DELL, a leading computer manufacturer, opted to locate a very large call center in Panama.
2. Global importance
Over 10,000 ships pass through the canal every year and they haul a projected 5% of the goods used all over the world. Interestingly, about 70% of trade in the canal is coming from or bound to America. Furthermore, this canal traffic is generally expected to increase by 2% each year.
3. Maintains world competitiveness
The canal helps to maintain the competitiveness of the world through offering a shorter passage for the transport of key goods. Improvements are constantly being done so as to ensure large ships can pass through easily through deepening and widening the channel. New locks are also being introduced. Experts believe that by 2014, the channel will be carrying double its current capacity.
4. Promotes tourism
With the short distance of travelling between countries thanks to Panama Canal, people can now visit other countries at a cheaper cost. The canal offers access to Panama and continues all the way to Central America, America, Mexico and Canada. Furthermore, Panama also provides worldwide business interconnectivity.
The benefits of Panama Canal are many and with the expansion in progress, these advantages are bound to increase tenfold.