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IT outsourcing rates in Panama

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.

Outsourcing rates by profession($/hour)

MinMaxAvg
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

Software outsourcing readiness

Medium

Technology capabilities

Web DesignMobile Applications

Industries

StartupsFintech

Economic overview

Political Stability

-2.5

2.5

Democracy status

0

100

Business climate

Very good

Extreme

Risk assessment

Very low

Extreme