Outsourcing rates by profession ($/hour)
Indicative blended rates for senior-level specialists.
| Profession | Min | Max | Avg |
|---|---|---|---|
| Business Analyst | 60 | 78 | 71 |
| Project Manager | 63 | 95 | 72 |
| Scrum Master | 58 | 91 | 69 |
| Graphic Designer | 51 | 87 | 68 |
| DevOps | 63 | 95 | 81 |
| Lead Developer | 71 | 95 | 82 |
| Junior Developer | 44 | 61 | 52 |
| Intermediate Developer | 57 | 76 | 66 |
| Senior Developer | 70 | 95 | 79 |
| Junior QA (Manual) | 36 | 60 | 46 |
| Intermediate QA (Manual) | 45 | 68 | 58 |
| Senior QA (Manual) | 57 | 76 | 68 |
| Junior QA (Automated) | 37 | 61 | 50 |
| Intermediate QA (Automated) | 51 | 72 | 66 |
| Senior QA (Automated) | 63 | 83 | 76 |
General information
Currency
PAB and USD
GDP growth%
15.3
Population
4.351 million (2021)
Time zone
GMT-5
Region
Latin America
Scorecard
160 country assessments, drawn up on the basis of macroeconomic, financial and political data, are made freely available.
Regularly updated, they provide an estimate of the average credit risk on a country’s businesses. This is an invaluable tool, giving an indication of a country’s potential influence on businesses’ financial commitments.
Our analyses use a eight-level ranking. In ascending order of risk, these are
Source linkcoface.com/Economic-Studies-and-Country-RisksOverall readiness
Software outsourcing readiness
Technology capabilities
Web Design
Mobile Applications
Key industries
Economic overview
Political Stability
0.30The likelihood of political instability and/or politically motivated violence, including terrorism, is rated on a scale of approximately -2.5 to 2.5, where the score of -2.5 represents the highest perceived risk, and the score of 2.5 represents the lowest perceived risk.
Democracy status
6.85A global ranking based on political factors such as elections, government, participation, culture, and civil liberties.
Business climate
AcceptableA comprehensive evaluation of the business environment, including access to and accuracy of corporate financial information and the strength of creditor protection through fair and effective resolution of unpaid debts through the local legal system.
Risk assessment
HigherAn assessment of the average risk of non-payment for companies, determined by economic, financial, and political factors.
Figures are indicative and compiled from public indices. See our disclosure for methodology and sources.
Overview
Panama is a small country located in Central America, with a rich history and culture. The country has a developing market economy, which is heavily based on the service sector, particularly in industries such as banking, tourism, and logistics. Panama's strategic location and the Panama Canal have helped to make it a major center for international trade and transportation.
The country has signed several free trade agreements, including the Central America-United States Free Trade Agreement (CAFTA) and the European Union-Central America Free Trade Agreement (EU-CAFTA), which have helped to boost its economy and attract foreign investment. The country also has a well-developed infrastructure, including a modern transportation system, a strong telecommunications network, and a developed logistics sector.
Panama has made significant investments in the development of its IT sector, with initiatives to promote digital innovation and e-commerce. The country has a high level of education and a skilled workforce, which contributes to its competitiveness in the global economy.
Considering Panama for your next team?
Talk to us about building a dedicated engineering, data, or marketing team.