Why are People Moving to Panama Now?

Last Updated on August 16, 2025 by Retire in Panama

This article was updated October 24, 2021

We get asked this question a lot, and yes, over the last five years, the popularity of the reasons has changed a bit, but the top 5 reasons remain the same, with an additional major reason, number six. In the previous year, since Panama’s re-opening, we have seen many people make a move to Panama, many of them directly from our past tours. And over the next six months, we will have many more.

Below are the top six reasons why we are seeing people move to Panama.

Source: World0meters.info

The newest reason: Feeling safer traveling with the vaccinations, or you are just ready to accept COVID is here, on the decline, and life must move on.

It’s no mystery that COVID has put a hold on many of our lives, in the beginning when governments locked down their countries, many of your plans to visit Panama have been put on hold, for almost two years.

Now maybe the time if you are watching credible sources on how Panama is handling COVID. We have one of the lowest transmission rates globally; as of October 2021, less than 40 ICU beds in the country are being used, averaging 150 new cases a day, most with mild symptoms.

With almost 70% of the Population vaccinated and that number going up fast, Panama only started its mass vaccination program in July, when it received its lot of vaccines from the major manufacturers.

Maybe it’s time for you to visit Panama. Panama has dropped its testing requirements to enter the county for fully vaccinated travelers. The only restrictions left in Panama as of October 2021 masks are still worn in public, and major events that want 100% capacity are reserved for vaccinated only.

Unhappy with current situation in their country

We are seeing this a lot now from countries like the USA, Canada, and European countries. People are not happy with their current governments, political situations, taxes, regulations, uncertainty, and more. People are looking for something different than they are currently experiencing.

In choosing a country to move to, you need to do your research to make sure that country has the government, politics, taxes, and regulations you are looking for, or you may not get the changes you seek.

Retire on less money to have more

This is a big one. Many people reaching retirement age are looking at their retirement income and seeing that it is less than they were expecting, and so retirement means they have to downsize and do less. Well that does not have to be the case. The best plan here is to find a place to live where your expenses are lower, so you can live out your retirement doing more. Panama could be that place.

This is a big one. Many people reaching retirement age are looking at their retirement income and seeing that it is less than they were expecting, and so retirement means they have to downsize and do less. Well, that does not have to be the case. The best plan here is to find a place to live where your expenses are lower, so you can live out your retirement doing more. Panama could be that place.

We have written a lot on our blog about the cost of living in Panama, and for many people worldwide, it is cheaper to live here. Let’s look closely at some examples. You could live in Panama, depending on the area for as little as $1200 a month, for a single, or $1800 a month as a couple. But how would you be living?

You would be in a Panamanian-style house paying $500 a month rent, living in a Panamanian neighborhood, buying groceries from local vendors, eating out at local restaurants. Possibly owning an older used car that you paid cash for, or using public transit and having some basic catastrophic local health insurance. This budget is doable, and I know many expats that live like this and enjoy Panama.

On the other hand, your budget could be $2000 a month, $3000 for a couple, and live in a North American style home, $700 – $1100 rent, in a neighborhood with other expats, dining out often in good restaurants, a newer car, and some international health insurance.

You have to look and study the numbers. How much money will I have coming in monthly, how can I live in the country I am currently living in, and how much less will it cost me in Panama. On our Retire in Panama Tours, we take you to over a dozen locations in Panama where expats may retire to and look at housing options, food prices, restaurant options, and more.

To live out your years in a tropical setting

Well, this is a simple one, who has not dreamed of sitting on the beach, sipping fancy drinks with umbrellas in them, why not for the rest of your life. Many people reach their retirement age, have their finances in order, and are looking for their dream place to spend their golden years.

Panama is an excellent option for many, as its location to North America, where many expats are from, is easy to get to and easy to get back to visit the grandchildren. Or, even better, they will probably instead come to visit you.

Living out your golden years, waking up every morning with the sound of the ocean, is a dream for many and is possible to do in Panama at an affordable price, with a stable economy and great real estate options.

Looking for the next adventure

For the thrill-seekers and adventurers in this world, sometimes Panama is just the next adventure for them. We see this often, singles and couples moving to Panama with no real commitment. Some stay a couple of years, some five to ten, before heading off to their next adventure. Some settle down and live here permanently.

These people are often called perpetual expats, moving from country to country for 2 – 5 years, enjoying their golden years. Panama is a great country to do this in, as it has many housing rentals available, and with your US or Canadian passport, you can stay in Panama for 180 days before you need to leave for 30 to come back for another 180 days.

Younger folks, some with families, looking for a better life or a new situation

We are seeing more and more younger folks moving to Panama in the last five years for many reasons. Some are coming here seeking employment opportunities; although there is not a lot available here for jobs, those with unique skills and degrees will have more options. Many also come here as digital nomads, working online in various businesses, earning their income from non-Panama sources, thus not needing a work visa in Panama.

Panama has many great international schooling options. With its Friendly Nations Visa and investment of $200,000 (real estate or bank deposit), you can get residency for the entire family and create a business to support your family. Then you have the younger families moving here, just for the opportunity and new adventures and a better way of life.

Whatever your reason to move to Panama, first consider our relocation tours. On this tour, you will discover every place that you may want to retire in Panama. You will meet all the professionals you will need to know to make that move happen. You will get to sit down with other expats already living here to give you an inside scoop to living in Panamanian.

Also, consider our exclusive private tours for couples or families. These are not budget tours; these are exclusive private tours, 3 – 7 days, of specific parts of Panama or the entire country. They can include investment opportunities, real estate investment, international tax planning, visiting private schools, and private health care facilities.

Whatever your reason to move to Panama, be assured that Panama will welcome you, and with our help, your transition to Panama will be a smooth one.

 

Retire in Panama Tours
It’s more than a tour . . it’s an experience.