Panama is one of the most diverse countries you will find despite of its small size. The long Caribbean and Pacific coastlines —provide limitless opportunities for beachfront properties and water activities such as fishing, scuba diving, surfing, and a lot more.
Small mountain villages like Boquete, El Valle de Antón and Santa Fe offer cooler climates than you’d expect this far south of the border. You can also find some rural areas for farm-loving types, stunning tropical rainforests all around you, and many islands seemingly floating in deep blue waters.
Though tourism is growing fast in Panama, it has been a business destination for a long time. Panamanians are well accustomed to foreign people ever since the construction of Panama Canal till it was completed in 1914. Compared to other economically deprived areas where “wealthy expats” have moved in, you can’t feel any envy or racial tension in the people living there. Perhaps it is because Panama is a land of opportunity, and many people living are striving hard to improve their quality of life.
Certainly, Panama’s economic prosperity is astounding especially to those who arrive expecting a Third-World conditions. Panama City’s skyline is full of gleaming office towers, banks and business establishments. Not to mention the numerous cultural and entertainment options which you can choose from. People from different walks of life driving their own cars and carry smart phones. Malls and shopping plazas are full of people every day.
Lower Your Cost of Living in Panama
Live in Panama’s trendiest areas or build your dream home around the lush green countryside. No matter which part of the country you go, you’re likely to find that the cost of your living is low compared to any other places in North America.
A big part of this factor is the quality, affordable healthcare in Panama. In your past home, you may spend hundreds of dollars each month on all the things like car, health insurance, health check-ups, and more. But in Panama, most expats find these things inexpensive. You can actually visit a small clinic for only $6 – $15. Auto insurance can cost you only $40 a month.
Apartments in Panama City can cost around $800 to $1500 a month, for a basic 2-bedroom but there are savvy expats who discovered locations where you can rent for only $300 to $500 a month. Water bills are generally less than $20 a month and you can load your cellphone to make a hundred minutes of calls for only $10. Let alone the Panama brand beers which you can buy for $0.50 each at any supermarkets.
So no matter what your taste or budget, you can still experience the quality of life, comfort, and convenience in Panama.
Still not convinced? We listed 10 reasons why you should live in Panama:
1. Panama regularly scores so high in International Living’s Annual Global Retirement Index. It ranked #1 in 2016, and #2 in 2017. In now in 2019, Panama is at the top of International Livings list again.
2. Resident retirees, who opt for the Pensionado Visa can take advantage of many benefits and discounts like 25% off in medication, 25% off in restaurants, 30% off bus, boat, and train fares, between 10% – 20% off healthcare expenses, and many more.
3. No need to worry about the exchange rates for USA Citizens, Panama’s official currency, the Balboa, is pegged to the U.S. dollar.
4. The cost of living in Panama is inexpensive. In some regions, a couple can live well for only $1,600 a month, having rent or mortgage included.
5. You’ll see the sun rising out in Panama nearly every day of the year. Average temperatures range from the mid-70s F to the high 80s F at sea level. And you will have no concerns about hurricanes here!
6. Non-stop flight duration from Miami to Panama are only 2 hours and 50 minutes.
7. There is plenty of affordable real estate for sale in Panama – from two-bedroom condos for $140,000 in Panama City, to new houses for $85,000 in David, to traditional style houses for $100,000 in Santa Fe.
8. Panama boasts lots of top-notch facilities and services around Panama City, David, Coronado, and more. In fact, the Punta Pacifica hospital in Panama City is affiliated with the acclaimed Johns Hopkins International.
9. Whether you’re seeking for lush green hills and valleys, white-sand beaches around the Pacific Coast, or urban lifestyle in cities such as Panama City, Panama has everything for every taste.
10. In places like Panama City, Coronado, and Boquete, you can find well-established expat communities, so finding like-minded expats is fairly easy. These communities will also help you settle in your new place.