As a gateway between two continents as well as two oceans, Panama has and continues to be a country of immense strategic importance. This 'footpath' between the Atlantic and Pacific Oceans, now known as the great Panama Canal, has most shaped Panama economically, politically, and culturally. Its location has brought all types of peoples to Panama long before even the Spanish arrived, and though Panama has been able to preserve much of its indigenous culture, colonists, nomadic peoples, immigrants, and ex-patriots have added their own cultures to the melting pot over the course of hundreds of years.
In recent years Panama has truly asserted itself on the international scene and has become a star in terms of development over the past decade. The nationalization of the Panama Canal in 1999 symbolically marked the end of an era of foreign imperialism. The canal, the extraordinary wildlife and pristine coasts, and modern capital are fueling a burgeoning tourism industry. However, social inequality within Panama still exist as elite families of European descent control most of country's wealth and power, while about 40% of the population live below the poverty line.
