Festivals in Panama

The joke is that nothing gets done in November because there are so many holidays. Then in December there are Mothers Day and Christmas.
There is a Blues and Jazz festival in Boquete in February that is growing every year. I'm sure there are many more events in Panama City as well.
Your questions tend to be so broad that they are impossible to answer in full without doing a lot of research and writing a novel.

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Carnival is different in each of the locations where it is celebrated - The City is a huge parade and week-long party. It is more adult-oriented, being it is a big-city event. Las Tablas is the largest celebration and most culturally interesting of them all.

We attend Penonomé in Coclé Province - where the floats - float!!! The Carnival queens arrive on floats -pontoon boats on the river propelled underwater by scuba divers. Penonomé is the most family oriented festival with kids of all ages squirting each other with squirt guns, swimming in the river and other heat-relieving water fun.
As everywhere in Panama, there is a lot of drinking, street vendors selling BBQ foods and music at every corner.

Over the course of three hours at the River Parade, five different people stopped and asked us if we were OK. My nephew from Canada was suspicious about what they wanted.
I explained they were just asking if we were having fun and did we need anything. Panamanians are proud of their hospitality. Penonomé is a fun, safe and interesting Festival.

PANAMÁ: THE MUSICAL (in English) opens Feb 1, 2018 - and runs to March 4th - book your trip through COPA Airlines and stay at AC Hotels Marriott - mention the show to get the deal.