Toll revenue of Panama canal, Nov 25, 2019, Statista
Was it worth it? For the United States, the Panama Canal was a worthwhile investment. If it cost $375,000,000 to construct, even the revenue out of one year with the Panama Canal in the 21st century would outweigh that cost. Although the labour costs were heavy, in the long term, the trade opportunity the Canal provided to America allowed the US to become a world power.
In the short term, Panama gained freedom from Colombia and lost the a new defining feature of their country. However, in the long term, the United States’ release of the canal improved Panama’s position. In fact, in 2018, Panama grossed 2,513.2 million dollars. Overall, it was beneficial for Panama and its people once the canal was under their control.
2018 Article IV Consultation—Press Release; Staff Report; And Statement By The Executive Director For Panama, Jan, 2019. International Monetary Fund
"Four of the world's greatest ocean routes are directly affected by the Panama Canal- the Magellan or Cape Horn route, the Panama Railroad and Mexi- can or Tehuantepec route, the South African or Cape Town route, and the Suez Canal route. The five primary routing factors which operate in favor of the Panama route are: (1) the distance or length of the voyage, (2) the length of time required to reach destinations, (3) fuel costs, (4) the relative ease of obtaining profitable cargoes, and (5) the absence or presence of transship- ment costs. In each of these the Panama Canal has an advantage over rival routes affecting a portion of their former traffic."
~ Huebner, G. G, “Economic Aspects of the Panama Canal,” 1915
The Panama Canal has and will change the world. It changed the western hemisphere geographically and allowed America to gain substantial politcial and economic advantange– to an extent allowing it to become the world superpower it is today. This feat rearranged the political and economic standings of many nations, and in doing so, broke those barriers.
Image of the Panama Canal, 2016, Wired