Balboa's main draw is the Miraflores Locks, a few kilometres from the town centre, where you can watch ships be lifted or lowered between the Pacific Ocean and Miraflores Lake. It's one of the great engineering spectacles in the world. Beyond this, the Amador Causeway waterfront, the Goethals Monument, and Cerro Ancón give the area several hours of content.
The Smithsonian Tropical Research Institute maintains research facilities here and runs public visitor programmes on Barro Colorado Island, accessible by boat — one of the best ways to see tropical rainforest wildlife near Panama City.