How will economic conditions affect backpacking in Panama and Central America

Hi all,

As a world wide financial panic sends market down, I wonder how this will impact the alternative traveler, here I refer primarily to the 'backpacker' these travelers live dirt cheap, these roaming nomads follow a long tradition of free thinking bohemians that live day to day at times with no particular plan, nomads going north,south east and west, these Hostel dwellers live on 10-30 dollars a day, use public transportation and even work for lodging and food. I have posed this question on a variety of blogs and forums and the consensus from those in the industry including the Hostel Management Website is that Hostel will enjoy a boost given the current economic conditions. Those at the very bottom of the tourism rung, 'the backpacker' will continue to travel regardless of the condition of the markets. Why? Because they have a limited amount of disposable income that is committed to long trips on the trail, well worn by thousands on the same path. They live on a few dollars a day and keep moving, they travel because they must. At Bambu Hostel we have noticed a decrease in American travelers and more Euro, Aussie and Canadian travelers. What we have noticed is that they are more sensitive than ever to price points and in reaction to that bambu lowered dorm beds to $8 from $10. The competition has gotten fiercer for the backpacker dollar, but they do keep coming and i doubt they will stop.

As for airtech we have noticed too that price points determine sales, we have had to raise prices due to fuel and tax increases and notice a decline in sales related to that, our new web 2.9 site here is a reaction to that, we are using a new business model so we are not so dependent on ticket sales to survive. But the community of alternative travelers live on. Even more so now, especially for the Americans traveling out there this is a great time to be able to answer the question 'where are you from' without getting an angry look. Many backpackers from USA took to sewing canadian flags on their packs so they wouldn't get yelled at. What a horror the last 8 years of neo-con fascism has been. What a relief the new election has brought us.

I would like to hear responses and input here...

Mike Esterson
President Airtech and Bambu Hostel David Panama

Bambu Hostel in David Panama, A luxury hostel at $8 a night

Howdy,

What started out as a dream about ten years ago in NYC has turned into our new reality! Me (mike Esterson) and my buddy Gregg Lapkin got together and bought a large family house in the San Mateo section of David Panama complete with a 3000 SF garden in march. For me I was correctly convinced that the US economy was in the toilet, the little that i had in my 401k was not growing, so i pulled it out of the market and made the decision to invest in Panama, a better investment in hindsight after seeing the market hear collapse.

Bambu Hostel is a labor of love, Gregg and I have created an international backpackers hostel and resort. It has a sparkling swimming pool, in ground of course, and really nice gardens to relax in..the rancho bar is an authentic central american rancho with hand woven roof and rustic wood construction. We built brand new showers and bathrooms and our dorm rooms have AC or no AC, we charge $8 USD for a dorm bed but you can feel like you are living large.

Bambu Hostel is fun, Gregg and I are both professional musicians, He plays guitars and sings kind of a human juke box and I play hand drum bass and sing as well...we both have had major label deals, Gregg with the legendary Rakes Progress and Me with the infamous and first live hip hop group Smokin Suckaz with Logic.

Nightly there are jam sessions and guest DJ's popping through and often there are bbq's and pool parties..

please come to David Panama and check out our place, stay a day or a week or a month, chill out with me and Gregg and our Panamanian Lothero Benny!

see you in Panama!
Mike Esterson
Co-Owner Bambu Hostel
http://www.bambuhostel.com
mike@bambuhostel.com