The following work includes the Master Plan for Sustainable Tourism Development 2007 - 2020 in Panama, focused on the Business Tourism in Panama City and a deep analysis highlighting the most representative impacts which has been the rise of tourism in the city this analysis studied. To carry out this research not only was studied the city virtually and through documents. A research of data information before the implementation of the Master Plan to see how Panama City was showed to the world and how many changes it has been passing through the pass of the years taking the Master Plan as a guide. Also a face visit to Panama City was conducted to see and check what is the experience that a tourist business takes to make a trip to Panama, where to stay and where to do business, even if the business includes set a company in Panamá. Know how competitive is Panama City to be a destination for business tourism, meetings, events and conventions. Different companies contributed to the research, including the Firm Sucre Arias Reyes, the Embassy of Colombia in Panama, the Chamber of Commerce, Industry and Agriculture of Panama, the International Exhibition and finally the Tourism Authority of Panama (Creator and in charge Institution of conducting the Master of sustainable tourism development plan). Coming back to Bogota all the information was collected to see how Panama City has been changing in the business tourism industry since the Master Plan began.