The first, and arguably the most important, pro of the Panama Canal is its affect on world travel and industry. For hundreds of years, travelers traversed the dangerous Straight Of Magellan beneath the coast of South America to travel between the Pacific and Atlantic Ocean, a costly and time-consuming journey. The canal reduced the trip from Europe to China by nearly 12,000 miles, allowing for goods to reach various parts of the world for less cost and in record times. World travel via cruise trips also increased as tourists could safely travel from various parts of the world. The Panama Canal has been used since its inception by nearly all major nations and is world-renowned.
The Colon Free Zone is a popular district along the Panama Canal and is an important pro of the Panama Canal. Due to the thousands of ships that go in and out of the canal, the area has an influx of imported goods. The massive influx of goods created an area of free trade. The Colon Free Zone is a tariff and tax free zone, allowing the bulk or singular purchase of items for far less money than found inside stores. According to Colonfreezone.com, the duty free area handles more than $16 billion dollars worth of products each year and employs over 28,000 people with jobs, making the canal an important force in the Panamanian economy. Tourists and residents in the area can browse markets without paying taxes or import fees usually included in the price of items found in stores.
Since U.S. control of the canal was given back to Panama, the government was able to convert electricity from the many hydroelectric dams built around the canal. Only a small portion of the energy from the dams is needed to run the canal, meaning that the remainder of the electricity produced can be used to help run certain sections of the nation. This helps improve the Panamanian economy.
