Panama la Vieja Day is observed in Panama City on August 15 each year to commemorate the anniversary of the city’s founding. This official holiday celebrates the historical significance of Panama la Vieja, or Old Panama, which is the remaining part of the original city destroyed by pirates in the 17th century. Founded on August 15, 1591, by Spanish conquistador Pedro Arias de Avila, Panama was the first permanent European settlement on the Pacific Ocean. The city gained prominence as a launching point for expeditions to Peru and a hub for transporting precious metals to Europe. In 1671, Welsh pirate Henry Morgan attacked and destroyed the city, leading the surviving inhabitants to rebuild on a new site, which is now modern-day Panama City. Panama la Vieja, along with Casco Viejo, is recognized as a UNESCO World Heritage Site since 1997. The day is marked by various celebrations reflecting the city’s rich history and cultural heritage.