Panamá is becoming a very popular tourist destination. Panama City is a very modern city, with big hotels, fancy restaurants, bars and clubs, and all still very affordable. The Panama Canal is giving the city a lot of revenues, and it's expanding rapidly.
The country has beautiful nature, waterfalls everywhere, and super white sandy tropical beaches.
Gay night life in Panamá is limited to Panama City, which has some gay clubs. Most guys in Panama are not openly gay, and are all very discrete. Many local latino guys are very happy to meet tourists.
Cities
Panama City is growing fast as a tourist destination. It has many large hotels, big clubs, trendy restaurants, and a very relaxing upcoming area in the Old Town.
Panama City has about 4 large gay clubs and a gay sauna. The gay night life is focussed on the weekend. Many guys from Panama are not openly gay and discrete, and you will find them at several gay friendly places.