Bieber's Latin American vacay continues ... with his super-sized entourage, his Miami model hottie, Chantel Jeffries, and a beach-load of fans.

Of course Biebs can afford to go anywhere he wants ... he just hops a private jet and decides on a destination. So why Panama? Beaches are nice, people are nice and ... oh yeah, the drinking age is 18 and prostitution is practically legal. Hmmm ....