For the 2008 index, each of the three main subindexes is made of the scoring of the following 14 variables, called pillars in the TTC Report. Several changes were introduced in the 2008 TTCI in the definition of the variables as compared to the definitions of the 2007 TTCI.  First, the “ environmental regulation ” pillar was improved with help from the IUCN and the UNWTO , and for the 2008 index was renamed the “ environmental sustainability ” pillar to “ better reflect its components and to capture the increasingly recognized importance of sustainability in the sector’s development .”  Second, the original pillar “natural and cultural resources” was divided into two separate subcomponents: “ natural resources ” and “cultural resources”, thus, allowing to differentiate those countries which do not necessarily have the same strengths or weaknesses in these two different resources. In general, the model was improved with better data and new concepts were introduced.  The 2009 and 2011 reports kept the same 14 variables.  
Panama is ranked 33rd overall. The country has developed a significant tourism sector (approximately 6% of the economy) on the basis of its rich natural resources (20th) and world-class tourist service infrastructure (27th), which offer tourists an enjoyable experience. Panama is a price-competitive destination (32nd), internationally open (23rd) and well connected thanks to its excellent air transport infrastructure (18th), which allows it to position itself as a travel and trade gateway to Latin America. There are nonetheless aspects where Panama could improve. In terms of human resources (95th), despite the progress made, it is not always easy to find skilled workers (99th), perhaps due to regulatory barriers to sourcing from the international talent pool (111th) and the limited participation of women in the labour force (112th). In terms of cultural resources (63rd), Panama scores relatively low on the amount of culture and entertainment-related online searches (47th) and could expand its entertainment offer, including by better promoting its oral and intangible heritage.
The market base for MSMEs will grow as tax complexities of interstate sales disappear. Original equipment manufacturers and corporates will come forward to procure components, semi-finished and finished products from MSMEs irrespective of location. Since there is no burden of tax on interstate sales, MSMEs will also have no issues in accepting orders from other States. They can also compete with low-cost imports, as the tax is the same for both locally manufactured as well as imported products — especially those coming from overseas low-cost producers.