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Panama City is the capital and largest city of the Republic of Panama. Panama City has more than 80 banks, more than 15 of them being national. The city also boasts several tourist attractions, and is a stopover for other nearby destinations in the country as well as a tourist destination in its own right.Panama is in Central America, bordering both the Caribbean Sea and the North Pacific Ocean, between Colombia and Costa Rica. Tropical maritime; hot, humid, cloudy; prolonged rainy season (May to January), short dry season (January to May). Interior mostly steep, rugged mountains and dissected, upland plains; coastal areas largely plains and rolling hills.The official language is Spanish. In Panama City and Colón, most Panamanians speak English, which is widely used in business circles. The country's indigenous languages such as Kuna and Ngöbe-Buglé are well preserved and mainly spoken in rural areas. The main religion is Christianity.The Economy of Panama is free market economy with a history of low inflation. It is based mainly on the services industry, heavily weighted toward banking, commerce, and tourism.The population in Panama City is 1.3 Mil (2014 est.), while the inflation rate is 3.37% (2014 est.).