It was bombed in Team America and flooded completely in Mega Shark Vs Crocosaurus, yet for some reason the small country of Panama still loves the movies. Now it's offering filmmakers 15% cash rebates if they choose to shoot there.
The offer is the result of a new law which took Panama's politicians eight years to negotiate. It couldn't come at a better time - after a rough ride during the global recession the country has just had its credit rating renewed, giving it the stability it needs to pursue international investment. It already offers tax advantages to filmmakers and is developing a National Film Fund so that some of the benefits of foreign investment can be passed to local production companies.
Panama's bid still lags behind that of some other countries in the region but its varied locations and ease of access from Los Angeles may tip the balance in its favour. It remains to be seen whether it will win the favour of professional organisations as it has no unions for local cast or crew.
