Go for the Canal…Stay for Everything Else. That’s what the New York Times is saying about Panama. The publishing giant’s travel section listed Panama as number one out of 45 Places to Go in 2012. Michael Douglas and Catherine Zeta Jones don’t disagree. They are on vacation in Panama this week with their family.

International Living has been writing about Panama as a must-see destination for many years, and the country has just been named as the second best place in the world to retire in IL’s just released Global Retirement Index.

This week, local news sources were buzzing about Michael and Catherine’s visit. The A-list couple apparently flew with their children, Dylan and Carys, for a tres chic event on a private island called Simca in the Chiriqui region.

Other celebrities have been visiting Panama to enjoy some incognito time for years, too.

On January 9, one publication sported a photograph of decorating mogul Martha Stewart with Panamanian President Ricardo Martinelli, who were also at the party, which was apparently thrown by Jean “Johnny” Pigozzi, the wealthy investor, photographer, philanthropist, art collector, turned fashion impresario who just turned 60. Pigozzi founded The Liquid Jungle Lab, a tropical marine research station located on the vast Simca Island, also known as Isla de Canales de Tierra.

Angelina Jolie and husband Brad Pitt visited recently to view the Frank Gehry designed Bridge of Life Museum, currently under construction in the Amador neighborhood of Panama City. Jolie reportedly returned to attend the exclusive party that brought Catherine Zeta Jones and Michael Douglas here.

Football player Jeremy Shockey is often spotted in Panama and former U.S. President Jimmy Carter has confessed to our staffers that Contadora Island is one of his favorite getaways (the same island that hosted the Shah of Iran when he was in exile). And how much did John Wayne love Panama? An entire island has been themed-out in his honor. Located just across from the town of Punta Chame, Taborcillo Island belonged to the actor before he passed away, and was purchased and developed into a western-themed resort when sold by his estate.

But it’s not just the rich and famous who enjoy a vacation to Panama. Because of the low cost of living, travel in Panama can be very affordable. Panama is a tourist wonderland just waiting to be discovered. The country’s expansive rainforests are among the richest and most complex on the planet. Panama boasts two full coasts of pristine palm-lined beaches, vast national parks and reserves, eco-systems ringed by mangroves, and primary rainforests.

And thriving Panama City has great shopping, theater, jazz clubs, casinos, bars, and night clubs, so there’s a lot to keep you entertained. There are also plenty of hotels to suit all budgets.

Editor’s Note: Learn more about Panama and other countries in our daily postcard e-letter. Sign up for our free daily e-letter here and we’ll send you a FREE REPORT — Panama: First World Convenience at Third World Prices.

Recommended Reading:

• Five Day Trips from Panama City: Islands, Islets and White-Sand Beaches

• Video Postcard: A Day-Trip in Panama

• The Best Places to Vacation in Panama

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U.S. President Barack Obama recently put the final signature on what some are calling the last major trade agreements of his administration.

With a simple signing ceremony, Obama made Panama—along with South Korea and Colombia—one of only 20 countries in the world to have a Free Trade Agreement (FTA) with the U.S.

The Associated Press reports that the agreement “could be worth billions to American exporters and create tens of thousands of jobs.” For Panama, the implications are just as far-reaching—for big business and small business alike. Looking to start an import-export business? If you plan on trading between Panama and the U.S., the situation is looking more favorable than ever. Considering the fact that Panama is one of the region’s highest ranked import-export markets, that is saying something.

And in a country that already boasts astonishing variety—from choice of restaurants and entertainment to the selection in shops, supermarkets, and more—the influx of new products will only make the panorama more exciting.

Competition may also drive prices down and boost everything from customer service quality to the already thriving job market. (Unemployment is already lower here than in the U.S. at just 5.6%). Needless to say, the expat community here is also likely to swell as foreign investment in Panama gets kicked up yet another notch.

Good News For Panama

Serious talks for the Free Trade Agreement began in 2004. Three years later, in 2007, U.S. and Panamanian trade representatives announced that negotiations had concluded on a comprehensive FTA to eliminate key barriers and expand trade between the two countries. Supporters of the pact in both countries hoped for speedy ratification.

Panamanians were already envisioning economic growth and increases in foreign investment. But these benefits would not come as soon as locals hoped. Year after year, Panama tried to resolve key issues presented as requirements for ratification by U.S. Congress.

After enacting labor reform and increasing fiscal transparency, Panama was proclaimed by U.S. trade representatives to have satisfied every major concern. Earlier this month, U.S. congressional passage of the agreement began generating headlines. Finally, the end was in sight, and Obama’s signature was the only thing needed to seal the deal.

U.S. companies like mega-manufacturer Caterpillar—which already has operations in Panama—were quick to praise the FTA. Manufacturing wasn’t the only industry to rejoice—agricultural concerns have been lobbying for the FTAs in a big way.

In Panama, President Ricardo Martinelli announced he had received a call from Obama. He gave Martinelli “the good news” and reportedly commended Panama for its democracy and transparency. The FTA gives Panama greater access to the U.S. market (some 300 million consumers), provided Panama enacts a series of changes to legislation concerning customs, immigration and insurance, among other things.

While there is still a great deal of work to be done, one thing’s for sure: everyone involved in promoting the FTA—both in the U.S. and Panama—has achieved a major milestone.

Editor’s Note: Learn more about Panama and other countries in our daily postcard e-letter. Simply sign up for IL’s free daily postcard here and we’ll send you a FREE REPORT — Panama: First World Convenience at Third World Prices.

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Since its groundbreaking in 2006, locals and Panama enthusiasts have been following the progress of what may be Latin America’s newest landmark property – Trump Ocean Club International Hotel & Tower Panama.

The 72-storey building with the sail silhouette overlooks the Panama Bay. It gives the city already known as “little Dubai” an even more “Dubai-esque” feel, inevitably calling to mind the world-famous Burj Al Arab.

“The striking architecture alone is something that has never been seen before in Latin America,” says Roger Khafif, who proposed the project to Trump. Khafif’s company, Grupo K, is billed as the project’s developer while Trump Hotel Collection is hotel operator.

The hotel will open its doors this month. It’s the Trump Collection’s first venture outside the U.S.

Trump these numbers:

• With 2.7 million square feet of total gross area, this is the largest property in Latin America

• At 290 meters high, the Trump Ocean Club is also one of the tallest buildings in Latin America

• It boasts 18,500 tons of steel reinforcement and 123,000 cubic meters of total concrete…enough to build five 50-floor buildings. The project also used 5,000,000 feet of cable…enough to line the roads from New York City to St. Louis, Missouri.

• It will have taken an estimated 10,000,000 man-hours and 2,500 laborers to build by the time it is completed.

Featuring some 1,000 units between residences, bay lofts and hotel guestrooms, the hotel boasts an array of amenities, including two floors of boutiques and shops, multiple restaurants, a pool deck and spa, 16,000 square feet of meeting space and a private beach club on nearby Viveros Island.

Condos in the project are in the $400,000 and up range, though you might find resales available for far less (advertised locally). For example, one local listing offers a studio-size unit, about 530 square feet, for $210,000. Units for sale at such low prices were probably bought by speculators hoping to flip the properties soon. As the project completion has been delayed—the development broke ground in 2006—some buyers are now desperate to sell.

Editor’s note: Jessica recently sat down to talk with Donald Trump Jr. Along with brother Eric Trump, he was in Panama City to promote the Trump Ocean Club. Eric dished on doing business in Panama and the increasing number of expats retiring there. Check out the video here.

By the way…if you’re after bargain property in Panama, don’t worry. Properties like the Trump Ocean Club make up part of Panama’s luxury real estate market. The bargain property market is still going strong, with attractive apartments in convenient locations in Panama City still available aplenty in the under-$150,000 range. Read more here.

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Looking to do business in Latin America? Panama and Chile have the best business climates in the entire region, says the Latin Business Chronicle (LBC).

The prestigious publication analyzes the business climate in 18 of the region’s countries every year. While Panama topped the index last year, the country is still going strong with a second place ranking this year, after Chile. Not surprisingly, Peru—a country I often compare to Panama thanks to its strong economy—came in third.

The LBC Business Index evaluates countries according to criteria such as percent GDP growth and inflation, taxes and tariffs, labor and political environment, and infrastructure.

The LBC says Chile’s superior corporate environment is to thank for the country’s number one ranking this year. The South American nation beat countries like Mexico and Colombia—top performers in this category—by a landslide.

Though Chile has the region’s best tax environment and economic freedom, it ranks fourth in ease of doing business. Mexico, Peru and Colombia, respectively, lead in that category.

Panama beats Chile in three out of five categories

Panama ranked first in three categories, beating Chile in macro environment, globalization and competitiveness, and infrastructure. Per the LBC that’s partly because the economy is growing so quickly. It’s also because the country has consistently led the region in terms of international banking, logistics and trade, and use of English as a business language.

Panama has an extremely high percentage of English speakers, particularly in important business and government sectors, from banking to trade.

English is widely taught in schools. That makes it easy for expats to start businesses, do their banking, obtain residency, and much more.

Companies like Dell, Caterpillar and 3M have set up everything from regional headquarters to call centers here. That’s in part because the government woos them with some of the region’s most attractive incentives…and partly because bilingual labor is easier to find here than in nearly any other Spanish-speaking country in the region.

As for infrastructure…we’ve been saying it for over 10 years. Panama surprises in the most pleasant way. Anyone who has traveled through the region can attest to Panama’s superior roads, unparalleled telecommunications, and unfailing power and water.

Panama ranks number one in the region when it comes to Internet penetration. I can’t remember the last time I went somewhere without high-speed Internet (and as International Living’s Panama correspondent, I’ve been traveling this country for five years).

Five of the world’s major fiber optic cables intersect here, in a place that is often called the “crossroads of the Americas.” Naturally, that nickname also refers to the Panama Canal, which helps make Panama a logistics and strategic dreamboat. No other country in the region can boast a better import-export location.

It’s no wonder winners like Panama and Chile continue to top the LBC Business Index. Another winner this year is Argentina. The nation showed the biggest improvement by coming up four spots to rank 13the in the index overall.

Says the LBC report: “The biggest losers were Ecuador, Honduras and Bolivia.” These countries fell two spots to rank 15^th, 16^th, and 17^th, respectively. The biggest loser was, of course, Venezuela, lagging due to a weak macro environment and shrinking GDP. Unfortunately the LBC had to drop Haiti from the index this year, “due to insufficient data in all subcategories.”

Editor’s Note: Learn more about Panama and other countries in our daily postcard e-letter. Simply sign up for IL’s free postcards and we’ll send you a FREE REPORT — Panama: First World Convenience at Third World Prices. This special guide covers insider advice on real estate, retirement and more in Panama.

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correspondent Jessica Ramesch. Mr. Trump was in Panama City, Panama, promoting the Trump organization’s new project, Trump Ocean club (international hotel and tower).

The largest building in Central or South America, it features some 1,000 units (residences and hotel rooms). Jessica asked Mr. Trump all about doing business in Panama and his views on Panama as a retirement or relocation destination.

Editor’s note: Learn more about Panama and other countries in our daily postcard e-letter. Simply sign up for IL’s free postcards and we’ll send you a FREE REPORT — Panama: First World Convenience at Third World Prices.

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In the right spots, Costa Rica’s beaches make smart buys today for Americans shopping for good-value retirement and vacation homes.

Prices on beachfront properties along certain stretches of Costa Rica’s coast have tumbled. It means a window of opportunity has opened there for Americans anxious to “rescue their retirements” by looking for dollar-stretching opportunities overseas.

The latest research from overseas retirement specialists, International Living, shows that in some areas of Costa Rica today, prices are 30% less than at any time in the last 10 years. In pockets along the Gold Coast prices are down as much as 50%.

“This is big news for anyone looking for a part-time retreat or a permanent beachfront home in a country, where the cost of living is low and the health care is first class,” said International Living’s Dan Prescher.

Prescher, along with fellow International Living editor, Suzan Haskins, traveled hundreds of miles around Costa Rica to report on the effect of the global real estate market’s collapse on prices, and to meet the expats who have benefited.

Among them are Ben and Jill Hill, originally from California, and their son Daren McBratney. Today they run a yoga spa in the Costa Rican beach town of Nosara.

“When we saw the market falling apart in the U.S. we just said it was time to make the move. Our only stumbling block was making the personal decision. Once we did there really wasn’t any more hesitation or hurdles. And as you can see, things worked out pretty well,” Jill told International Living.

Papagayo in the northwestern corner of Costa Rica’s Guanacaste province was the heart of the country’s real estate action a few years ago. But the International Living team recently found a certain number of properties standing empty and idle—their owners willing to either sell at a discount or, instead, rent at practically the cost of upkeep, just to have someone there.

At 58-years old, retirees Andy and Fran Browne were living in North Carolina when they ran the numbers and found they could take advantage of this window of opportunity to rent long-term in Costa Rica.

“We’re using our nest egg for a long-term vacation strategy. Instead of buying a house right now, we have the luxury of renting without tying ourselves down to a piece of property, and use that same amount over the next 15 to 20 years to do what we really want…vacation and explore,” said Andy.

“Every person we spoke to in Costa Rica says this is the time to strike. Previously, some individuals bought in the market here hoping to flip their properties and make a quick buck. Today, they’re ready to deal. So are the developers who remain solvent but are stuck with lots of unsold inventory,” said Haskins.

Commenting on the findings, International Living executive editor, Jennifer Stevens said: “Costa Rica is just one of the overseas locations where a growing number of people are finding the affordable retirement and quality of life they want, but can’t have in the U.S. And with 1,100 miles of the most beautiful sun-drenched shorelines in the Western Hemisphere, Costa Rica is definitely one of the most attractive options. Those are just two of the reasons why International Living is inviting readers to the capital San José this August for our Live and Invest in Costa Rica Event.”

NOTE TO EDITORS: Dan Prescher and Suzan Haskins are among International Living’s most seasoned editors and property scouts. Since leaving Omaha, Nebraska in 2001 they have lived and owned real estate in Argentina, Ecuador, Panama, Nicaragua and Mexico. They currently spend winters in Mérida, Mexico, and summers in Cotacachi, Ecuador.

To learn more please contact International Living, Associate Editor, Carol Barron, tel. (772) 678 – 0287, e-mail: CBarron@internationalliving.com.

Follow International Living on Facebook for the latest information.

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Looking to do business in Panama? Recent news bodes well for potential importers and exporters. International news media are reporting apparent progress on a long-awaited Panama-U.S. Free Trade Agreement (FTA).

U.S. trade representatives and Panama’s Minister of Trade and Industry announced in December 2007 that, after three years, negotiations had concluded on a comprehensive FTA.

The agreement was meant to eliminate key tariffs and barriers to trade, while expanding trade between the two countries. Many in Panama expressed hopes the FTA would promote economic growth, legal and business reforms, investment, and regulatory transparency in Panama.

Those hopes disappeared as, year after year, the two countries tried to resolve key issues presented as requirements for ratification by the U.S. Congress. The U.S. wanted Panama to enact labor reform and take further steps toward fiscal transparency. Panama obliged, taking steps to broaden labor rights, including collective bargaining rights and workers’ protection. Perhaps the most significant barrier to FTA was removed with Panama’s recent full ratification of a Tax Information Exchange Agreement with the U.S.

U.S. trade representatives announced earlier this month that “Panama has satisfied U.S. concerns for completion of a free trade pact,” adding that the Obama administration would be re-introducing the Panama agreement for ratification.

Per agricultural industry publication AGWeek, U.S. proponents of the pact are hopeful. “We hope our discussions to review these documents can commence without delay so that we can work together to bring the benefits of this agreement home to American businesses, farmers and workers,” said a U.S. trade representative.

Panama: Major Trade Progress

Panama recently ratified trade agreements with a slew of countries, including Chile, Singapore and Taiwan. Exporters from those countries will, per AGWeek, have a competitive advantage over U.S. firms because U.S. products are currently subject to higher duties. The publication added that the American Soybean Association, the American Farm Bureau Federation and the National Pork Producers Council praised progress on the Panama agreement.

Korea and Colombia also have pending FTAs with the U.S. Sources in Washington say it is possible that the U.S.-Panama FTA will be placed on hold until the Colombia and Korea agreements are also ready for re-introduction to the U.S. Senate. If true, the FTA could be delayed indefinitely.

U.S. President Barack Obama will meet with Panama President Ricardo Martinelli for the first time today. “Among other key bilateral and regional issues, the presidents will discuss next steps with regard to the FTA,” said the White House in a statement.

What else is on the agenda for the meeting? Per the White House: “The Presidents will discuss next steps with regard to the US-Panama Trade Promotion Agreement as well as progress on the Central America Citizen Security Partnership President Obama announced during his recent trip to Latin America.”

The U.S. and Panama: Close Allies

“The meeting and moving forward on the agreement underscore the historic relationship between the U.S. and Panama, one of our closest allies,” said a representative of the U.S. National Security Council.

While in the U.S., Martinelli will meet with Wayne Clough, President Emeritus of the Georgia Institute of Technology and Secretary of the Smithsonian Institution, to commemorate the institute’s 100^th year in Panama. Martinelli will also receive the Light Unto the Nations award at the American Jewish Committee Gala. Light Unto the Nations is the AJC’s highest award for distinguished national leaders. Previous recipients include German Chancellor Angela Merkel, French President Nicolas Sarkozy, U.S. President Bill Clinton, and Colombian President Alvaro Uribe.

Editor’s note: Learn more about Panama and other countries in our daily postcard e-letter. Simply sign up for IL’s free postcards and we’ll send you a FREE REPORT — Panama: First World Convenience at Third World Prices.

You're reading How You Might Benefit from a U.S.-Panama FTA by International Living, originally posted on InternationalLiving.com. If you've enjoyed this post, be sure to follow International Living on Twitter, Facebook, and Google+!

In this video, International Living executive editor, Jennifer Stevens, talks to the hosts of My Carolina Today about how you can earn a living in a developed world currency, but live in a country where the cost of living is much lower than in the States or Canada.

You can easily “work the latitudes” as well and enjoy the freedom to live anywhere, work when you want, travel when the urge strikes. When you slash your expenses overseas, there’s less pressure to bring home that 60-hours-a-week income. You gain the flexibility to relax, slow down, and improve your quality of life.

Thousands of Americans are funding their lives overseas with portable careers and business ventures. Find out more here.

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Easter is this coming Sunday, April 24. In Mexico, this means the start of the country’s second-most important holiday season (only surpassed by Christmas).

Religious fiestas dot the weeks around Easter, and it’s also the start of a busy vacation period. So whether you observe Easter’s religious aspects or not, you’ll find plenty to celebrate in Mexico at this time. Here are a few suggestions on where and how to celebrate Easter:

Get in on Easter fiestas: Mexico’s Colonial Highlands, north of Mexico City, is one of the country’s most deeply Catholic regions. If you want to see the beauty and pageantry of traditional Easter celebrations, this is a great region for doing it.

In the state of Guanajuato, for instance, celebrations begin well before Palm Sunday—the Sunday before Easter. The Friday before Palm Sunday is dedicated to the Virgin de los Dolores—Our Lady of Sorrows.

In the state capital, Guanajuato, it’s known as Flower Day and actually begins on Thursday night with dances and other celebrations that may last all night. On the Friday itself, the city’s historic center is thronged with people buying flowers, Easter baskets and other mementos, while the religious flock to the cathedral. In San Miguel de Allende, locals put altars in the windows or entranceways of their homes; many of the homes are open to the public on this day. And in both cities, giving ice cream or water to visitors is traditional.

Then there are the Good Friday and Easter celebrations in both these cities, with spectacular Easter masses.

In the Colonial city of Taxco, don’t miss the parade on Holy Thursday, with hundreds of penitents and “encruzados”—penitents carrying crosses. There is another parade on Easter Sunday itself, and an arts-and-crafts fair throughout the week.

Other areas worth visiting for their Easter celebrations include Pátzcuaro, Aguascalientes and San Luis Potosí.

Hit the beach: The Easter holidays are also the traditional start of the beach season in Mexico. Since many schools are closed at this time, even families will head off to the closest shore for a few days.

It may still be spring-like weather in Pacific Coast beach towns like Mazatlán, Puerto Vallarta and Huatulco. If you find this a bit chilly, consider going farther south… By April the Yucatán Peninsula is nice and hot, and the water is just fine. Consider Caribbean resorts like Cancún, Playa del Carmen, or Tulúm, or the Yucatán Gulf Coast on the other side of the Peninsula.

Keep in mind, though, that Easter is an ultra-high season in Mexico. Book hotel reservations early—especially for the beach—and be prepared to pay higher prices than at non-holiday times.

But with so much to choose from, you may find this the perfect time to visit Mexico.

Editor’s note: Learn more about Mexico and other countries in our daily postcard e-letter. Simply sign up for IL’s free postcards and we’ll send you a FREE REPORT — Why Millions of Americans Are Moving to Mexico.

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Tired of the same-old, same-old cultural tours of museums and monuments? What about a visit to a “mystery town,” rich in legends and traditions, instead? In Mexico, you’ll soon be able to.

The state of Guanajuato, in Mexico’s Colonial Highlands, plans to invest about US $6.2 million to upgrade and promote three historic mining towns under the label “mystery towns.”

The project, kicked off by Guanajuato’s state governor on April 5, aims to leverage the tourism that already visits the state, enticing visitors to extend their stay. The state capital, Guanajuato, a World Heritage city since 1988, is already a big tourist draw. So is San Miguel de Allende, about 50 miles away. And about 1.2 million hiking enthusiasts hit the area each year to climb the Cerro de Cubilete, near the capital.

Mexico has a long track record of branding and marketing its rich cultural heritage for upscale tourism. The country has 31 UNESCO World Heritage sites—more than any other country in the Western Hemisphere—and 10 of these are Spanish-colonial cities. It also has nearly 40 “magic villages,” a label created by the Mexican government for towns of historic or cultural importance.

Like the nation-wide “magic village” program, the “mystery town” program aims to generate new revenue sources for the villages involved: Sangre de Cristo, Mineral de La Luz, and San Ignacio. The bulk of the $6.2 million will be used to improve transportation access to the towns, whose heyday was in the 18th and 19th centuries, and to create a museum and visitors’ center.

This part of Mexico, the Colonial Highlands, is already a huge draw for cultural tourists. The region is home to Mexico’s largest concentration of Spanish-colonial cities, including Guanajuato, Dolores Hidalgo and San Miguel de Allende, all in the state of Guanajuato, as well as Querétaro, Zacatecas, San Luis Potosí and others in the general area.

The Colonial Highlands are also one of the most popular regions of Mexico for expats. They are drawn to its rich colonial history, temperate climate, and easy access from the U.S. and Canada. San Miguel de Allende, the best-known expat haven in this region, may have as many as 10,000 expats.

Editor’s note: Learn more about Mexico and other countries in our daily postcard e-letter. Simply sign up for IL’s free postcards and we’ll send you a FREE REPORT — Why Millions of Americans Are Moving to Mexico.

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On your next visit to the expat haven of Mérida in Mexico, you’ll now be able to read the local news in English. Mérida’s first print English-language newspaper starts publication on Tuesday April 12. The print edition of The Yucatán Times will cost 10 pesos (about 83 cents), and you can find it at several locations in the area, including in Mérida’s centro histórico and the Alta Brisa shopping mall, and in  the nearby port of Progreso.

Mérida’s expats have long depended on local English-language websites for useful news and general information, including an online version of The Yucatán Times. But until now there has been no print newspaper in English to serve the area’s expats—as many as 4,000—and its tourists.

Most Mexican cities with a significant tourist or expat presence have at least one English-language publication to provide local and international news of interest to U.S. visitors. Mexico City has the print newspaper The News. Guadalajara, the country’s second-largest city, has The Guadalajara Reporter (which includes coverage of the Lake Chapala area, home to the largest expat community in the world). Puerto Vallarta has The Banderas News and Baja California has The Gringo Gazette, among others.

Editor’s note: Learn more about Mexico and other countries in our daily postcard e-letter. Simply sign up for IL’s free postcards and we’ll send you a FREE REPORT — Why Millions of Americans Are Moving to Mexico.

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With inflation skyrocketing in the U.S., more and more Americans are finding a surefire way to beat rising costs: by living and working overseas.

It’s called “working the latitudes.” You earn in one jurisdiction (where the cost of living is relatively high) and live in another (where the cost of living is much lower). In some cases, that also allows U.S. citizens considerable tax benefits. Those who qualify for the foreign earned income exclusion, for example, may exclude up to $92,900 in foreign earnings for 2011.

In International Living’s April issue, you’ll read profiles of several people with international career portability. Like Larry Snyder, a registered nurse who created websites to help nurses with their continuing education. “As the business grew it became clear I could do it from anywhere,” he says, and when his wife decided to move back to her native Colombia and start her own manufacturing company, Snyder went with her.

Now, he says, “Colombian medical authorities are going to accept our online courses and we’re getting new courses written in Spanish for this market.”

Advances in technology have made it increasingly possible for people like Mr. Snyder to work overseas. Freelance copywriter Jason Gaspero is another. With a laptop and an Internet connection, he says, “I’ve got a career in which I’m in total control of my time, my income, and especially, my choice of workplace. Today I spend most of the year living on an island in Thailand. My “office” is now the perfect place for some mid-day snorkeling!”

Read the article here: Fund Your Life Overseas With Portable Careers and Business Ventures.

For some Americans overseas, earnings opportunities often just fall into their laps. Barbara and Joe Wilson moved to Ecuador expecting to retire. (Thanks to a host of attributes, including its temperate climate and low cost of living, Ecuador ranks #1 on International Living’s annual Global Retirement Index.)

In Ecuador, the Wilsons planned to slow down and take life easy. But they learned that Mindo, the village where they settled, is a perfect place for growing cacao beans. Mrs. Wilson, who is a graduate of Ecole Chocolat, a master chocolate making program in Vancouver, British Columbia, couldn’t let the opportunity pass her by.

Today the Wilsons operate a hostel, restaurant, microbrewery and chocolate-making business in Mindo, and they export organic cacao nibs to the U.S. for processing into gourmet chocolate products that they sell via their website.

“There are a lot of business opportunities here,” Barbara Wilson says. “There is also a growing market of Americans who are relocating to Ecuador and they want to find some of the things that they are used to getting in the U.S.”

The Wilsons appreciate that they can now set their own hours and that lower expenses and labor costs in Ecuador allow them to be able to afford to hire employees. Most importantly, says Mrs. Wilson, the work is enjoyable. “Work is play and that is the best of all worlds.”

While more and more Americans are moving overseas to work and start businesses, says International Living executive editor Jennifer Stevens, it’s also about finding happiness.

“People of all ages and in all stages of their careers…especially retirees…are finding it harder to make ends meet in the U.S.,” she says. “Some of them are stuck in jobs they really don’t like and they’ve put off doing things they’ve always wanted to do because they have to pay the bills and there’s nothing left over.”

International Living has profiled expats living in countries like Ecuador, Belize, Costa Rica and more, including parts of Asia and Europe, Stevens says, who are living quite well on $1,000 per month or even less.

“If your home is in a place where your expenses are minimal,” Stevens says, “and business start-up costs are low, it’s easier to act on opportunities and follow your passions. And if you have a portable career that allows you to work from anywhere, you’re really at an advantage…in many cases you can effectively double, triple or even quadruple your disposable income.”

Editor’s Note: Read more about International Living magazine here. Subscribe now and you’ll get instant access to the April issue.

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If you’d like a little culture with some laid-back vacation time, head to Mexico the last week of March. Two capital cities—Guadalajara and Campeche—are offering festivals in film and jazz, respectively.

Cheaper than Cannes and closer to home, Guadalajara—Mexico’s second-largest city—is hosting its 26th annual film festival March 25 to April 1. U.S. actors Willem Dafoe, Eva Longoria and Edward James Olmos are scheduled to be on hand. So will German film director Werner Herzog and Spanish director Fernando Trueba (winner of the Best Foreign Film Oscar in 1993 for his film “Belle Epoque”). A retrospective of Herzog’s films will be shown at the festival, as will Trueba’s latest film “Chico and Rita.” Both directors are also being honored with awards.

If Herzog and Trueba seem a bit high-brow, consider going to the vampire-film selection put together by Mexican director Guillermo del Toro. A native of Guadalajara and founder of the festival, del Toro (“Hellboy,” “Pan’s Labyrinth”) has serious street cred in the horror-film field. Professional commitments may keep del Toro from attending in person, but his spirit is sure to hover over his personally-selected fang-fest.

Fifty-five feature-length films will be in competition at the Festival, with 294 films in all—shorts, documentaries and features. The lineup includes numerous Mexican films as well as films from Spain, Cuba, the Dominican Republic and other Latin American countries.

If you prefer music—or the seaside—consider the 12th International Jazz Festival in Campeche, on the Yucatán Peninsula’s Gulf Coast. Running from March 25 to April 3, the jazz festival will take place in three coastal cities in the state: Campeche (the state capital), Champotón and Ciudad del Carmen. Performances include jazz groups and solo performers from Mexico, Venezuela, and Italy.

This year’s festival is in homage to Cuban jazz trumpeter Arturo Sandoval, a four-time Grammy winner who has worked with musicians such as Gloria Estefan, Kenny G., Frank Sinatra, Stan Getz, Tony Bennett and Alicia Keys. Sandoval will perform on Saturday, April 2.

Editor’s note: Learn more about Mexico and other countries in our daily postcard e-letter. Simply sign up for IL’s free postcards and we’ll send you a FREE REPORT — Why Millions of Americans Are Moving to Mexico.

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According to the Panama Bank Superintendancy, this country is well on its way to becoming the region’s chief financial hub.

Panama has just been chosen as the site of the Central American Council of Superintendents of Banks’ permanent headquarters. The agency’s objectives are to maintain and promote close cooperation between the banking superintendents of its member countries. The members currently include Costa Rica, Nicaragua, Honduras, Guatemala, El Salvador, Dominican Republic, and Panama.

Panama Bank Superintendant Alberto Diamond says the country’s financial hub grew an estimated 11.4% percent in 2010, with consolidated assets totaling $71.3 billion. Net revenue for the year totaled $1.67 billion, 16.1% or $148 million more than in 2009. Revenue came from dividends, foreign exchange transactions and commissions.

Domestic credits to the private sector totaled $24.3 billion, representing an increase of 13.3% over 2009. The increases were attributed to growth in the following sectors: industry (31.9%), commerce (22.7%), construction (12.7%), mortgages ( 9.8%) and individual consumption (8.7%).

Panama’s economy grew some 7% in 2010, fulfilling predictions that Panama would be one of the countries in the region least affected by the global financial crisis.

Despite the crisis that rocked the financial world in 2009, says Diamond, Panama’s banking center has continued to trend upward over the last four years. Growth has been largely due to stringent adherence to conservative banking standards, says the superintendent. For example, in 2010 Panama banks achieved just over 65.7% asset liquidity—well over the required 30%.

For more than three decades, Panama’s International Banking Center has been thriving. Banking alone accounts for about 11% of Panama’s Gross National Product (GNP). Powerful incentives like Panama’s rock-solid trusts make banking here very attractive.

Panamanian laws protect anyone who banks here and foreigners are guaranteed the same rights as local investors…great news for the hoards of expats that have recently moved here.

Panama has no central bank or monetary authority. Banco Nacional de Panama (BNP Panama National Bank) most closely resembles a national central bank serving as a repository for public-sector funds and as the government’s official banker and treasurer. The economy is fully dollarized, thanks to a treaty signed between Panama and the U.S. in 1904; just months after Panama declared independence from Colombia.

As BNP does not issue paper currency, it is instead responsible for managing the supply of dollars through an agreement with the Federal Reserve Bank of New York. Interestingly, Panama mints coins exactly the same shape and size as their U.S. counterparts; both U.S. and Panamanian coins are used here. (Watch out when you go to the U.S. or Canada, as you’ll invariably try to use a Panamanian coin by mistake.)

Panama’s banking superintendency is hard at work trying to attract Latin America’s big banks into setting up shop here, inviting Brazil, Mexico, Chile and others to help swell its numbers even further.

The IBC hosts some 80 banking institutions and employs over 16,000 people. Panama’s financial center also includes the country’s insurance and re-insurance companies and active stock exchange (Bolsa de Valores de Panama, or BVP).

Editor’s note: Learn more about Panama and other countries in our daily postcard e-letter. Simply sign up for IL’s free postcards and we’ll send you a FREE REPORT — Panama: First World Convenience at Third World Prices.

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Houston we have a location: Panama President Ricardo Martinelli says the site of Panama’s new international airport will be the beach town of Rio Hato. The government has long been studying the viability of a new international airport in the Pacific coast region.

Panama is known as the Hub of the Americas, but the only major airport is Tocumen International. Airports in cities like Colon and David offer primarily domestic flights.

An international airport on Panama’s Pacific coast would make it easier for travelers to head straight to the beach without having to go through Panama City. Now, most beach-goers fly into Tocumen International. Late arrivals tend to spend a night in Panama City before getting ground transportation up the Pacific coast. Thus, visitors often “lose” a day they’d rather spend at the beach.

Rio Hato is approximately two hours by car from Panama City, and the district is home to many resorts and beach communities. According to Martinelli, the government selected Rio Hato because it was the cheapest place in the area to build. An airport anywhere else would cost an estimated $1 billion, while the government estimates it can build one at Rio Hato for $33 million, thanks to the existing airport infrastructure. Auxiliary construction, including an access tunnel from the PanAmerican Highway, will cost another $50 million.

Located in the province of Cocle, Rio Hato is known for it beaches and its car races…it is even known as a good place to skydive. White sand beaches in the district, from Punta Chame to Farallon, are often referred to as the “pearls of the Pacific.” Here you’ll find popular resorts like the Royal Decameron, Playa Blanca, Breezes, and Buenaventura.

Rio Hato owes its existing airport infrastructure to the U.S. military. In 1942, the U.S. built an airport here; World War II was drawing to a close and the aim was to help protect the Panama Canal. The land reverted to Panamanian control in 1970; it was used for military training until 1989, when the U.S. invaded Panama and destroyed the Rio Hato facilities. As Panama has not had a military since, the land fell into disuse.

The new airport at Rio Hato is just one of many big infrastructure projects on the horizon. Late last year, the prestigious Latin Business Chronicle (LBC) voted Panama number one in the Latin American region for infrastructure thanks to projects like the $5 billion Panama Canal widening and the expansion of the Tocumen Airport, the Colon Airport, and the Howard/Panama Pacifico Airport.

The LBC also reported that Panama would grow more than any other country in Latin America over the 2011- 2015 period.

Editor’s note: Learn more about Panama and other countries in our daily postcard e-letter. Simply sign up for IL’s free postcards and we’ll send you a FREE REPORT — Panama: First World Convenience at Third World Prices.

You're reading New International Airport for Panama’s Pacific Coast by International Living, originally posted on InternationalLiving.com. If you've enjoyed this post, be sure to follow International Living on Twitter, Facebook, and Google+!

In this video, Dan Prescher fills you in on some major upgrades to your International Living magazine this month and gives you the low down on what’s in your April issue.

There are big things happening with your April issue… not least of which is a new look. We’ve given you a new color scheme, a new layout, it’s easier to read, more fun to leaf through.

And it’s available online now, for those of you who like to get your International Living magazine directly online and have it on your computer wherever you go. No waiting for the hard copy to get to you… as soon as the issue is released… like RIGHT NOW for the April issue… it’s available to you. Watch out for the video links in the articles, which will help you get a visual feel for the destinations you’re reading about.

We’ve got some great stories for you in this month’s magazine.

For example, our cover story for April details exactly what many of the expats we interview for our podcasts are doing… funding their new lives overseas with portable careers and businesses ventures. IL magazine editor Eoin Bassett takes an in-depth look at exactly how nearly a dozen different expats are proving that you don’t have to choose between work and adventure… you can have both… and your work can actually be a fun and interesting part of your adventure overseas.

The April issue is all over the map with stories like this… entrepreneurs who are having fun starting new businesses in Ecuador, Panama, Colombia… places with great weather, low cost of living, and opportunities to make money in ways that you can actually feel good about…opportunities that add life to your years instead of adding stress to your life.

There is so much more in the April issue of International Living magazine… and it’s ready and waiting for you right now. Just click here to read it now.

But before you do, I want to let you know about another great new feature on our website… our International Living podcasts. Every Wednesday I interview someone just like you who is living the International Living dream in some exotic corner of the world. You can listen in for free… they’re all available online. It’s just like listening to your favorite radio program, except you can listen to any or all of them as many times as you like… Just click here to listen in.

Click here to access your April issue.

Enjoy the April issue, and I’ll see you next month.

Editor’s Note: Not a subscriber? Click here to become one and get instant access to the April issue.

You're reading IL’s April Issue is Online Now: Find Out How You Can Fund Your New Life Overseas by International Living, originally posted on InternationalLiving.com. If you've enjoyed this post, be sure to follow International Living on Twitter, Facebook, and Google+!

Mexico’s President Felipe Calderón recently announced that he aims to make Mexico one of the world’s top five tourist destinations by 2018. He signed a National Tourism Agreement that outlines a 10-point strategy for making that goal a reality.

But in Campeche, a UNESCO World Heritage city on Mexico’s Yucatán Peninsula—where I live—no one is waiting until 2018. We see many of the strategies Calderón has embraced already being implemented every day. In the last year Campeche has made great strides at putting the capital city and state (both named Campeche) firmly on the cultural tourism map.

Since last November, workmen have been upgrading and widening sidewalks in the city’s historic center to create a pedestrian-friendly area. Multi-language signs have been installed at many of the public monuments; life-size bronze statues (one of a local fisherman, another of a shoeshine man) have been commissioned and installed in public spaces; and several semi-permanent museum exhibits have opened in de-commissioned churches and in parks.

It’s all designed to entice tourists to stay a few days longer in Campeche, which traditionally has been the Peninsula’s least-known and –visited state. Millions of tourists visit the neighboring states of Quintana Roo (home to Cancún and a slew of other Caribbean beach resort towns) and Yucatán (where Mérida, an expat haven that is home to several thousand foreigners, is located). Campeche—less than two hours south of Mérida—wants a piece of that pie.

The new improvements aren’t limited to the state’s capital. Late last year the little town of Palizada, deep in the state’s interior, was named a pueblo mágico, the state’s first. The Mexican government gives pueblo mágico status to villages of historic or cultural importance and provides them with funds to develop tourism. Palizada’s claim to fame is its red-roofed houses…and its riverside location. It’s also not too far from the state’s other World Heritage site—the Calakmul Biosphere, which houses the ruins of a huge, ancient Maya city.

And less than an hour down the coast from Campeche city, the little fishing port of Champotón now sports a recently-completed malecón (seaside boardwalk). Champotón, arguably the center of Campeche state’s growing sports-fishing industry, is also the closest town to the state’s beaches. Starting just south of Champotón are miles of nearly virgin beachfront. A few beach developments are under way here, but by and large these beaches are off the radar.

Champotón is where the pioneer expats with homes on Campeche’s beachfront do their shopping. Champotón has a traditional market, a couple of supermarkets, and dozens of little seafood restaurants. The little town (population around 30,000) has an engaging air, and until now property prices here have been very inexpensive. But with the pretty, new malecón in place and the beachfront poised for development, that situation may change.

In fact, it may be time for me to view properties in Champotón…while it’s still off the radar.

Editor’s Note: Learn more about Mexico and other countries in our daily postcard e-letter. Simply sign up for IL’s free daily postcards and we’ll send you a free special report – Why Millions of Americans Are Moving to Mexico.

You're reading Campeche, Mexico: A Tourism Strategy Takes Concrete Shape by International Living, originally posted on InternationalLiving.com. If you've enjoyed this post, be sure to follow International Living on Twitter, Facebook, and Google+!

It’s time to get out the dancing shoes, the party clothes and perhaps a costume or two: Carnival time is almost here. And if you’d like to spend Carnival in a destination that does this celebration proud, you’d better be buying your airline tickets now—if you still can.

Carnival—that exuberant festival that closes out the days before Lent—is best known in the U.S. for Mardi Gras in New Orleans. The two-week festival ends with a huge parade on Fat Tuesday (or mardi gras in French), the day before Lent starts on Ash Wednesday (March 9 this year).

In Catholic countries, just as in New Orleans, the Carnival period starts weeks—in some places nearly a month—before Fat Tuesday. Parties, parades and other celebrations are common. And the closer the time gets to Fat Tuesday, the more exuberant the partying becomes.

If you’re thinking of relocating to a Latin American country—all of which are nominally Catholic—this can be a fun time to visit. Don’t plan on getting any serious business—such as house-hunting—done during this time, especially if you visit a city with a big Carnival celebration. Instead, use it as a chance to see your proposed new home at its most exuberant—and its noisiest.

In Latin America, here are some of the cities with the best-known Carnival celebrations. If you want to visit these cities during February or early March, be sure to pin down accommodation as soon as you can.

Brazil, of course, is home to the Carnival in Rio de Janeiro, the largest and arguably the most famous Carnival in the world. (The main contender for fame would be Venice, Italy, which has celebrated Carnival since the 13th century.) Rio’s Carnival is known for its nightly parades of the samba schools and its wild parties. But for a genuine Carnival in the streets, many connoisseurs prefer the celebrations in Salvador de Bahía, in northern Brazil. Attending either is a memorable experience.

The port city of Veracruz has one of Mexico’s biggest and best-known Carnivals. Veracruz, on the Gulf of Mexico, is a city of food, music and vibrant ambience. Today a sophisticated metropolis and major port, Veracruz has long been known within Mexico for its seductively easy-going lifestyle. The beach resort of Mazatlán, on the Pacific coast, and Mérida, in the Yucatán Peninsula, are also known for their Carnival celebrations and parades.

In Colombia, the Caribbean coast city of Barranquilla takes top Carnival honors. Celebrated during the four days before Ash Wednesday, Barranquilla claims that its music-filled Carnival is one of the largest in the world.

Many other cities throughout Latin America have smaller Carnival celebrations. As a visitor or potential expat, you may find that you enjoy these smaller, more intimate Carnivals at least as much as the big festivals. These festivals’ smaller scale can make them easy to take part in. You may also find it easier to book accommodation than in cities whose Carnivals are international tourist attractions.

In addition, in Latin America the weather is usually mild during Carnival season—especially compared to the late-winter weather in the U.S. and Canada. Warm weather and a party? Now that’s a combination hard to resist.

Editor’s Note: In International Living‘s free daily postcards, you’ll learn about travel, retirement, property and lifestyle opportunities in Latin America (as well as other countries around the world). Read about the destinations you want to know more about and some you may not have heard of yet.  You can sign up for free here.

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Last week I renewed my residence visa for Mexico, using the new electronic format Mexico launched in mid-2010. I filled out the online application one morning, gathered up my supporting documents, submitted everything to my local immigration office…and walked out with my new visa in hand in just one hour.

Folks, it doesn’t get much easier than that.

Admittedly, I have a few things in my favor. For one thing, the new system has been in place for half a year—enough time to work the kinks out of it. I was renewing an existing visa—not applying for a new type of visa, with new requirements.

Still, my case shows that Mexico remains one of the easiest places to get residency as a foreigner. And that, at its best, Mexico’s new high-tech system makes getting that residence visa even faster, more streamlined and more efficient than ever.

For potential expats looking to get residency in Mexico—or for expats who haven’t yet renewed their existing visas—here are a few changes to keep in mind:

1.      Mexico is trying to move the residence-visa application process out of its consulates abroad and into its immigration offices within Mexico. So don’t bother going to your nearest Mexican consulate in your home country. Instead, figure out where you want to live in Mexico, then process your visa at the immigration office nearest that location. Since you can enter Mexico on a six-month tourist visa, you may have plenty of time to get settled before you even apply for residence.

2.      You must now use the online application form (at www.inami.gob.mx) to obtain or renew a residence visa. The application form, as well as all the pages that explain the visa requirements, is in Spanish. If you don’t speak Spanish well, or if you’re applying for your first visa, you may want to hire a visa-processing service or lawyer to apply on your behalf. Many new expats do this. If you do speak Spanish, however (and have an immigration office with time to devote to your questions), you may be able to process your own application.

3.      Mexico takes your thumbprint and keeps it on file when you get/renew your visa. The new residence visa is a plasticized card about the size of a driver’s license—much smaller than the passport-style booklet Mexico issued before. The new card also allows for a color ID photo, rather than the black-and-white used previously.

Finally, don’t assume that every immigration office in Mexico can process visa applications as quickly as my local office did. First applications, changes in visa status—or simply living in a city with lots of expats who have visas to process—can mean longer wait times. Fortunately, Mexico has also implemented a visa tracking system…so you can track your visa’s progress every step of the way.

Editor’s note: Learn more about Mexico and other countries in our daily postcard e-letter. Simply sign up for IL’s free postcards and we’ll send you a FREE REPORT — Why Millions of Americans Are Moving to Mexico.

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If you’ve ever been to Panama, chances are, you remember how easy it was to fly here. For many an expat resident, the Tocumen International Airport is a big draw. Known as the Hub of the Americas, the busy airport is a connections hub, providing easy travel to and from anywhere in the region.

The hub and the Panama Canal also make Panama a prime destination for entrepreneurs or multi-nationals looking to expand within the region.

Recently, local news sources have announced that some 344 hectares around Tocumen are to be converted into Panama’s first aerotropolis, featuring logistics, commercial and residential sectors.

An aerotropolis is an airport-anchored city of sorts, with all the features of a modern metropolitan center, says John Kasarda, director of the Kenan Institute of Private Enterprise at UNC-Chapel Hill and a “leading developer of the aerotropolis concept.”

An aerotropolis boasts office buildings, hotels and exhibition complexes, medical and wellness facilities, cultural, leisure, and entertainment venues, retail, education, financial and consumer services.

“It is a globally connected city,” says Kasarda, “where long distance travelers and locals alike can work, shop, conduct business, exchange knowledge, meet, eat, sleep, and be entertained…without going more than 15 minutes from the airport.”

Dubbed Panatropolis, the “new world’s global hub,” the mixed-use development would also be an air logistics center, providing speedy, efficient logistical solutions to time-critical industries—such as high-tech and perishables companies. Says Kasarda, “The airport will become a magnet for high-value time critical to businesses and industry, complementing and reinforcing commercial development in Panama City’s downtown.”

According to news sources, the project will generate an estimated 3,000 direct jobs. Investors plan to funnel $412 million into the project; construction should take between five and 15 years.

According to local daily the Panama America, investors also say the project will be “the most innovative logistics platform in the region.” Quite a statement, considering the fact that a new city and logistics hub is growing in Panama Pacifico, on the western edge of Panama City.

Says Kasarda: “The location of Panatropolis is particularly favorable; right next to an international airport that is among the most strategically located in the Americas, with a hub carrier, Copa, that is among the fastest-growing and most successful airlines in the world. This will provide Panatropolis with the best overall access to Central, South, and North America.” Not only that, says Kasarda, but the project will also give Panama “a huge competitive edge.”

Thinking of moving or doing business here? Tocumen’s recent expansion and the advent of the Panatropolis project mean that travel services and logistics facilities here will soon be better than ever.

Editor’s note: Learn more about Panama and other countries in our daily postcard e-letter. Simply sign up for IL’s free postcards and we’ll send you a FREE REPORT — Panama: First World Convenience at Third World Prices.

You're reading Panama City: New Aerotropolis in the Works by International Living, originally posted on InternationalLiving.com. If you've enjoyed this post, be sure to follow International Living on Twitter, Facebook, and Google+!

In Mexico, January means that the clock starts ticking for paying annual expenses like predial—property taxes. Fortunately, most of these expenses are a fraction of what you would pay in the U.S., Canada, or many European countries.

Property taxes in Mexico are rarely more than $300 a year, even for large homes. In addition, many states offer discounts if you pay your property taxes early. In some states you must pay before the end of the previous year to get the discount. Other states, like Yucatán and Campeche in the Yucatán Peninsula, give discounts if you pay in the first quarter of the year.

In Campeche the discount is usually 10% for those paying in January. Yucatán offers a 20% discount in January, 10% in February, and 5% in March. Those who are up-to-date on previous years’ property taxes receive additional discounts of up to 5% during the first quarter.

There are several reasons for Mexico’s low property taxes. One is that the official property values listed in the city registry (a property’s valor catastral) may not be updated regularly to match them with market values. In addition, a property’s value may not be automatically updated when it is renovated or modernized. A colonial building that is renovated, for instance, may remain on the city books for years at its unrenovated value.

Editor’s Note: Learn more about Mexico and other countries in our daily postcard e-letter. Simply sign up for IL’s free daily postcards and we’ll send you a free special report – Why Millions of Americans Are Moving to Mexico.

You're reading Mexico: Pay Less For Property Taxes by International Living, originally posted on InternationalLiving.com. If you've enjoyed this post, be sure to follow International Living on Twitter, Facebook, and Google+!

The New Year got off to a busy start as local news sources in Panama were busy reeling off stats and predictions. At the beginning of January, Panama President Ricardo Martinelli announced that the economy would grow by as much as 9% this year. (Per government projections, the economy grew approximately 7% in 2010.)

According to Vice Minister of Trade Jose Domingo Arias, Foreign Direct Investment will reach $2 billion this year. According to Arias, FDI of 2010 stood at $1.7 billion by the third trimester of 2010; a 12%-increase as compared to the same period in 2009. Says the government official, FDI continues to grow thanks in part the investment grade ranking awarded to Panama by agencies like Standard & Poors in 2010.

In addition to FDI, say local sources, growth is expected in tourism revenue for 2011.

According to local daily newspaper, La Prensa, tourism grew 6% in 2010, a hefty increase over 2009, in which tourism grew only 2%.

Though official statistics have yet to be released, data collected thus far indicates that Panama received 1.7 million visitors in 2010 and will receive at least 1.9 million in 2011. The projections are good news for business owners (and potential entrepreneurs out there), particularly in the tourism industry.

Panama has long been a growing hub, thanks to Copa Airlines. The nation’s premier airline has done much to make Tocumen International the “Hub of the Americas,” as it is known. Panama’s tourism authority has also been hard at work, lobbying airlines around the world to establish flights to Panama.

In 2010, Dutch Antilles Express (DAE) inaugurated twice-weekly direct flights from Curacao to Panama. Iberia also inaugurated a direct flight from Madrid, and German Airline Condor began a weekly flight between Frankfurt and Panama City. Ecuador’s Tame also began flying here three times a week from both Quito and Guayaquil.

And other airlines may soon follow suit. According to government officials, airlines such as Australia’s Qantas, Emirates Airlines and Flydubai, and Japan’s All Nippon are interested in establishing flights to Panama in the near future.

With its international airport becoming a mega-hub, a growing roster of international conventions, and more hotel rooms in the pipeline than any other country in the region, Panama is poised to profit from steady increases in arrivals.

Also fueling the economy this year are megaprojects such as the $5 billion Canal expansion, currently entering its fifth year.

Other massive undertakings include a new 13-kilometer metro line. The $1.3 billion line will be Panama City’s first, and is currently in the design phase. On December 15, local agencies and organizations were invited to examine the project’s Environmental Impact Study (EIS) at the Istmo University in Panama City.

Following a public bidding process that culminated last November, a local consortium has already been chosen to build the new metro line. French firm Alstom has already been chosen to supply the actual train cars. By 2035, the government plans to have an entire network of metro lines in place all over city. Construction on the first line, or “linea uno” should begin later this year.

Additional mega-projects include the new city at Panama Pacifico (one of the region’s biggest such developments) and a new “Government City” that will cost an estimated $450 million to build. The government has also announced ambitious infrastructure projects for this year, including roadworks and continuing airport and port expansion projects.

On the downside, the government will have to designate millions of dollars to help repair damage caused by incessant rain and floods in 2010. Latin American countries like Venezuela and Colombia were hit the hardest by the unusually wet weather, but Panama has had its fair share of woes this year. Per local news sources, damage to access roads leading to the Centennial Bridge alone will take some $15 million to repair.

Editor’s note: Learn more about Panama and other countries in our daily postcard e-letter. Simply sign up for IL’s free postcards and we’ll send you a FREE REPORT — Panama: First World Convenience at Third World Prices.

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Good news for those looking to book flights to Mexico: Your options have increased once more.

Mexicana Airlines, which stopped operating in August 2009 due to financial trouble, hopes to be back in the air by January 24, say Mexican news sources. The airline plans to begin ramping up gradually, starting with six planes that will cover eight routes: Cancún, Chicago, Guadalajara, Las Vegas, Los Angeles, Miami, New York, and San Antonio, Texas.

The airline hopes to have 28 planes in the air by April.

The airline’s 350 pilots, as well as mechanics and other airline staff, expect to begin training immediately to revalidate their credentials. The pilots’ licenses remain valid, but international regulations require them to re-train and re-test if they’ve gone more than 21 days without flying.

Mexicana was put up for sale in early September. Authorities expected the airline—one of the world’s oldest—to find a white knight quickly and be back in the air by December. But several potential offers fell through. Finally, in early December, the investor group PC Capital successfully reached agreement with the airline’s unions, paving the way for Mexicana’s return to the skies.

According to Mexican tourism authorities, Mexicana’s shut-down may have lost Mexico as much as $420 million in tourism revenue. It reduced airline seats on Mexican carriers by about 30%, drastically reducing airline coverage at some destinations.

The “new” Mexicana not only will ramp up flights slowly; it will also be smaller. In this initial phase, Mexicana will employ only about a quarter of the 8,000 people who previously worked for the airline.

In the first half of 2010, Mexicana was the #1 Mexican airline internationally, with 65% of the market held by Mexican carriers. Within Mexico it was the second-largest carrier, with nearly 29% of the market.

Editor’s Note: Learn more about Mexico and other countries in our daily postcard e-letter. Simply sign up for IL’s free daily postcards and we’ll send you a free special report – Why Millions of Americans Are Moving to Mexico.

You're reading Mexicana Airlines Aims to Begin Flights Once More in Late January by International Living, originally posted on InternationalLiving.com. If you've enjoyed this post, be sure to follow International Living on Twitter, Facebook, and Google+!

Two countries have tied for first place with the best climate on earth in this year’s Quality of Life Index, published last week in International Living magazine.

Climate is one of nine categories that go in to calculating the countries with the best quality of life in the annual International Living index. Sharing top scores for climate in the 2011 index are Malta and Zimbabwe.

Of the two, Malta is our favorite, says International Living magazine Editor Eoin Bassett. “But with 5.2 hours of sunshine a day, a stable government and economy, Malta is a very strong draw for expats. And it’s English-speaking.”

Anchored almost in the center of the Mediterranean Sea, 60 miles from the Italian island of Sicily, frost and snow are mostly unknown in Malta, and the temperature nudges 70 degrees Fahrenheit even in November.

The five islands that make up Malta aren’t on everyone’s radar, and are mostly unheard of by Americans. About 500,000 Maltese live on the largest, more sophisticated main island, and most have a lively urban lifestyle. Homes and apartments here attract an international set as do the historic harbors and five-star hotels.

Crime hardly exists, the locals are hospitable and the health care is excellent. There aren’t any property taxes, and the U.S. expats who benefit most from living here are those who retain earnings from elsewhere that they then elect to get taxed in Malta, at 15%.

At roughly twice the size of Washington D.C., it’s easy to socialize with other expats.

There’s regular 90-minute ferry service to Sicily and a modern airport at Luqa with flights to numerous other European countries, including Rome, just one hour away by plane.

Along with its top climate ranking, Malta’s many other virtues combined to earn it third place overall in the 2011 Quality of Life index, beaten only by New Zealand and the U.S.

For complete 2011 Quality of Life Index rankings and details on categories and how ratings were determined, see here.

You can subscribe to International Living magazine here.

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International Living has just published its annual Quality of Life Index for 2011. The Index ranks most countries in the world (192) in nine different categories to come up with overall ratings for their comparative qualities of life.

Topping the Index this year is the United States of America, followed by New Zealand, Malta, France, and Monaco.

The nine Quality of Life Index categories are: cost of living, culture, economy, environment, freedom, health, infrastructure, safety and risk, and climate.

According to Eoin Bassett, Editor of International Living magazine, the criteria for this year’s Quality of Life Index has been revised and updated.

“Over the 30 years we’ve been producing the Quality of Life Index, we’ve adjusted our categories and data sources several times as technologies, infrastructure, and other factors have changed.

The numbers tell their story. On a macro level, it’s this: The U.S. has more paved roads than anywhere else, more airports and a lot of cell phones, It’s got good Internet access, the world’s biggest economy (though not necessarily the best), and it’s got tens of thousands of doctors and hospitals (if you can afford them). The numbers say: The United States has a convenience that’s hard to match.

Of course, thousands of satisfied expats are living proof that, in return for sacrificing a little of that convenience, a truly healthy, happy and more affordable life overseas is possible.

But, said Bassett, the Index isn’t just about numbers. “If like us, you eschew convenience for opportunity, then study our Quality of Life Index with your priorities in mind, and you’ll find out a lot of what you need to know.

“Our 2011 Quality of Life Index can’t tell you where to find a midnight steakhouse, a 24-hour convenience store or a mall with everything under one roof. What it can tell you is that with a warm, dry Mediterranean climate, low crime rates, good medical facilities and English-speaking population, Malta is a good place to start looking for a life overseas.

“Or that New Zealand is a first-world retirement haven. It tells you that you can find an amazing climate in Mexico, and that it’s one of the culturally richest countries in the world in addition. It shows you that Uruguay, 22nd this year, earns solid marks in infrastructure and health (which is partly why more and more wannabe expats consider it an attractive option).”

“And for the record,” said Bassett, “we’re biased. Our sources, staff, and contributing editors are all influenced by a Western bias. We have definite, preconceived ideas about what constitutes a high or low standard of living, what constitutes culture and entertainment, and what climate is the most enjoyable. We also consider the world from the point of view of the majority of our readers—Americans spending U.S. dollars. So there definitely is a subjective factor to the Index that, I hope, makes it more meaningful and accessible to the majority of our readers and subscribers.”

See here for more information on the 2011 International Living Quality of Life Index, along with links for complete ratings for all countries and an explanation of how Quality of Life Index scores are calculated.

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Good news for travelers (and frequent flyer card-holders) to Mexico: The U.S. Federal Aviation Authority has returned Mexico’s airlines to Category 1 status.

The reinstatement means that U.S. airlines can now resume offering codeshare flights with their Mexican airline partners. Delta Airlines has already announced that it will resume codeshare flights with partner Aeroméxico on December 29. Tickets go on sale December 28.

The FAA downgraded Mexico’s airline industry to Category 2 in July. International airlines with a Category 2 rating are not allowed to codeshare with U.S.-based airlines. Nor are they allowed to expand into new routes.

Codesharing allows an airline to book and sell tickets on a partner airline’s flights. This system allows airlines to serve a much larger area, without technically expanding their service. It’s a boon to consumers, who can book with a single airline—and get frequent flyer miles for their whole itinerary—even though part of their itinerary may be on a partner airline.

The reinstated Delta-Aeroméxico agreement will connect Delta customers flying from nine U.S. airports with 20 Mexican airports served by Aeroméxico and Aeroméxico Connect. The Mexican destinations include Acapulco, Campeche, Mérida, Morelia and Veracruz, among others.

Editor’s Note: Learn more about Mexico and other countries in our daily postcard e-letter. Simply sign up for IL’s free daily postcards and we’ll send you a free special report – Why Millions of Americans Are Moving to Mexico.

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Talk is cheap—and never more so than when it comes to mega development projects. So the announcement in late November by Fonatur, Mexico’s tourism development agency, that over US $30 million have already been invested in a major new resort development on Mexico’s Pacific Coast is potentially good news.

Fonatur first announced plans for the Pacific Coast Integrally Planned Center (Centro Integralmente Planeado, or CIP) in September 2008. The master-planned project, to be located about 80 miles south of Mazatlán, was to cover 7.5 miles of beachfront in its initial phase. It would include marinas, hotels, golf courses—and part of the Sinaloa National Wetlands, a protected nature preserve.

Then came the global recession of 2008-2009…and the project faded from media attention.

But not, apparently, from Fonatur’s. The agency’s director announced recently that over US $30 million have been invested to date in the area, with over $20 million of that this year. And while that is not much for a project of this size, the bulk of it has gone for background environmental and urban studies and for needed infrastructure like underground cabling for electricity and water lines and an electricity substation.

The Pacific Coast Integrally Planned Center (Centro Integralmente Planeado, or CIP), as the project is called for now, lies in southern Sinaloa state near the border with Nayarit. It is just north of the so-called Riviera Nayarit, an area that Fonatur is also developing.  Like Cancún and other Fonatur CIPs, the Pacific Coast CIP is a large-scale project along a stretch of coast that is relatively undeveloped. However, Mazatlán, 80 miles to the north, is Mexico’s longest-established beach resort, with an international airport and a cruise ship dock.

The first phase of the Pacific Coast CIP is set for completion in 2012, with the entire project completed by 2025. According to President Felipe Calderón, the project should create 78,000 new direct and indirect jobs in the area and attract 3 million tourists annually by 2025.

For current and potential expats seeking to start a business in Mexico, this could be an area to watch in the next few years.

Editor’s Note: Learn more about Mexico and other countries in our daily postcard e-letter. Simply sign up for IL’s free daily postcards and we’ll send you a free special report – Why Millions of Americans Are Moving to Mexico.

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Are you a history buff? Or is wildlife photography, food, or architecture your hobby? Whatever your interest, you may find Mexico promoting it. The country is becoming increasingly sophisticated and adept at packaging its vast cultural heritage for the lucrative cultural tourism market.

For instance, news sources recently reported that Palizada will become the country’s newest pueblo mágico as soon as state and federal officials sign the papers. Since 2001 Mexico has already designated some 35 towns across the country—usually small and off the beaten path, but also beautiful or historic—as pueblos mágicos, or “magic villages.”

For tourists and expats, pueblos mágicos make a convenient list of destinations where they’re almost guaranteed to find the charm, color and romance of the “real” Mexico.

Palizada, the newest member of the club, is in the Yucatán Peninsula’s state of Campeche. It’s a riverfront village of gaily-painted houses with French-tile roofs. It is also home to “the best snook-fishing tournament in the country,” according to local papers.

Palizada is Campeche’s first pueblo mágico. But the state already has two UNESCO World Heritage sites: the capital city of Campeche and the Calakmul Biosphere Reserve, which has a 28-square-mile ancient Maya city at its center.

World Heritage destinations make another list that ranks high with “cultural tourists,” and it’s a list that Mexico has actively pursued.

Mexico has more World Heritage sites than any other country in the Americas: 31. Most are Spanish colonial cities or archaeological ruins left by Aztecs, Zapotecs, Mayans and other indigenous groups. Mexican destinations lobby hard for the World Heritage designation and work hard to maintain it after it’s been granted.

Nearly 70 sites across Mexico are protected through World Heritage or pueblo mágico status.

But Mexico has not stopped here in marketing its rich heritage for tourism. Culturally-minded tourists in the Yucatán Peninsula can also travel the Puuc Route of ancient Maya ruins or the Convent Route of Spanish colonial churches. Nature-lovers can follow the Cenote Route, taking a dip in these freshwater swimming holes.

For 2010, Mexico has marked out six routes that follow Mexican history: three that relate to the 1810 War of Independence and three linked to the 1910 Revolution. The state of Guanajuato, cradle of the Independence movement, has also marked the route of the original 1810 uprising.

More routes are in the works all the time. Tourism officials in Campeche State have recently proposed a “lighthouse route” that would turn historic coastal lighthouses into regional museums.

And though officials haven’t yet signed the documents making Palizada a pueblo mágico, they’re already thinking of its tourism future. A “river route” is being planned that would take tourists from the Maya ruins of Palenque, in neighboring Chiapas, to Palizada and then on to the Gulf Coast city of Ciudad del Carmen.

Officials plan to have the new river route in place in time for the 2011 Easter holidays. So if river journeys or Maya ruins or pastel-colored riverfront villages are your particular hobby, take note; you’ll have yet another Mexico destination on your wish list.

Editor’s Note: Learn more about Mexico and other countries in our daily postcard e-letter. Simply sign up for IL’s free daily postcards and we’ll send you a free special report – Why Millions of Americans Are Moving to Mexico.

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I can hardly believe it myself…Panama has topped yet another index. This time, the prestigious Latin Business Chronicle (LBC) has voted Panama number one in the region for infrastructure.

The publication’s yearly Latin Infrastructure Index takes into account 19 countries and uses data from the World Bank, the World Economic Forum, the International Telecommunications Union and Computer Industry Almanac.

The Latin America region tends to get a bad rap when it comes to infrastructure, says the LBC. Companies all over the world say the region is deficient, spending on average 2% to 3% of GDP on infrastructure.

Averages can be misleading though, and countries like Panama and Nicaragua—which ranked among the region’s worst this year on the infrastructure index—vary greatly.

When it comes to the index’s four key categories: transport, technology, electricity and water, Panama does very well indeed.

Chile and Uruguay also topped the charts, taking second and third place, respectively, on the index. According to the World Bank “Doing Business” report, Panama is the best country in Latin America (and number 11 worldwide) when it comes to trading across borders.

Comparing Panama to the Region’s “Top Three Worst Infrastructures”

The country with the worst infrastructure is Haiti (the index includes the Caribbean), followed by Nicaragua and Venezuela, which ranked as second and third-worst, respectively. Says the LBC, Venezuela ranks 124th in the world when it comes to the quality of its power supply, placing the nation behind countries like Tanzania and Ethiopia.

It’s not surprising Panama scored so high on the latest LBC index, as the Panama Canal has helped make Panama the “Hub of the Americas” in more ways than one. (Panama’s airport is also a major hub for flights from all over the Americas as well as other regions). The report singles out Panama’s import/export indicators, port quality, airports, and roads as exceptional in the region.

Expats living in Panama can attest to the quality of the infrastructure here; in terms of everything from Internet service to the Panama Canal Railroad, Panama outshines its neighbors. In fact, earlier this year the LCB announced that Panama had replaced Argentina as the Latin American country with the highest wireless penetration rates.

With such excellent infrastructure, it’s no wonder Panama also topped the LBC’s annual Latin Business Index to become the number one country for doing business. (The excellent business incentives available here may play a part in this, too). For the droves of expats that are interested in a “working retirement” in Panama, this is good news indeed.

Panama isn’t resting on its laurels, though—the current government is working hard to secure the nation’s future is just as bright.

The LBC says Panama will grow more than any other country in Latin America over the 2011- 2015 period. The tiny powerhouse is turning heads with its highly ambitious infrastructure plans for 2011 to 2014.

The government’s budget for 2011 may well be the biggest ever, with massive infrastructure projects such as the Panama Canal expansion, a new airport, and major roadworks expected to continue fueling the economy.

Editor’s Note: Learn more about Panama and other countries in our daily postcard e-letter. Simply sign up for IL’s free postcards and we’ll send you a FREE REPORT — Panama: First World Convenience at Third World Prices. This special guide covers insider advice on real estate, retirement and more in Panama. It’s yours free when you sign up for our IL postcards.

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Panama has long been a growing hub, thanks to Copa Airlines. The nation’s premier airline has done much to make Tocumen International the  “Hub of the Americas,” as it is known.

Recently Panama’s tourism authority has been hard at work, lobbying airlines around the world to establish direct flights to Panama. According to tourism officials, one of the best ways to promote tourism is to ensure easy travel to Panama. As the year draws to an end, the results of the tourism authority’s efforts are encouraging.

Last month, Dutch Antilles Express (DAE) inaugurated twice-weekly direct flights from Curacao to Panama—the airline’s first Central American destination.

Iberia also inaugurated a direct flight from Madrid, Spain. Just this month, German Airline Condor began a weekly flight between Frankfurt and Panama City, via the Dominican Republic. Next month, Ecuador’s Tame will begin flying here three times a week from both Quito and Guayaquil.

Australia’s Qantas is expected to follow suit with an interesting package: passengers will stay in Cuba for four days before heading to Panama for another four days, then it’s back to Australia (no word yet on which city in Australia).

According to government officials, UAE airlines such as Emirates Airlines and Flydubai are also interested in establishing flights to Panama. The UAE is expected to sign an agreement with Panama before the year-end.

Panama’s La Prensa reports that Japan’s All Nippon plans to begin negotiations with Panama for a direct flight, too. Per local sources, British Airways is also considering direct flights to Panama via Puerto Rico—those may be running as soon as March 2011. Panama’s Copa is also apparently negotiating with Canadian authorities to establish a direct route to Toronto.

Panama already boasts direct flights to Amsterdam via KLM, as well as direct flights to most every major city in South America via airlines like Taca, Copa, Aires, and Avianca. There are also direct flights to Panama from a plethora of cities in the U.S. via Copa, Continental, Delta, American, and even Spirit.

Tourism numbers are up and Panama has more hotel rooms in the pipeline than any other country in the region save Brazil.

In addition to new flights and increasing arrivals, Panama is expanding its airports. A new airport is already in the works for the city of Colon and the David airport is already being expanded, as is Tocumen International in Panama City. Rumor has it that another airport may soon follow somewhere in the Cocle Province, which is well known for its beaches.

Panama isn’t merely a hub for flights. Home to the Panama Canal, this country has long been a shipping hub, and plans are underway to further expand this hub with cruises and more. Colon 2000, a Caribbean port on the coast of Colon, is already a homeport for Royal Caribbean (I just went on a three-day cruise to Cartagena without having to set foot on a plane first). Now local sources say the government is planning to build a new cruise port in Amador, on the Pacific Coast, in the Bay of Panama.

The tourism authority, which is luring cruise lines with low taxes, says the objective is to encourage more lines to include Panama among their home ports and ports of call.

Panamanian officials aren’t just focusing on the cruise industry, though. An inter-institutional commission for maritime affairs will reportedly expand the nation’s logistics industry by evaluating everything from sustainability to infrastructure to auxiliary marine services and training. The commission is scheduled to meet this month. The government is also considering building two new large ports on the Pacific coast. Agencies such as the Panama Canal Authority and Maritime Authority are evaluating the prospects even as massive port expansions are underway at major ports on both coasts. Add to that the corporate, business and logistics parks coming up in the area known as Panama Pacifico, and it’s clear…Panama isn’t playing around.

Editor’s Note: Learn more about Panama and other countries in our daily postcard e-letter. Simply sign up for IL’s free postcards and we’ll send you a FREE REPORT — Panama: First World Convenience at Third World Prices. This special guide covers insider advice on real estate, retirement and more in Panama. It’s yours free when you sign up for our IL postcards.

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In the December issue of the IL magazine, read about the five places where crisis investing can pay off today.

Also in your December issue, explore Panama’s unknown paradise where you can visit hundreds of tropical islands in the San Blas archipelago off Panama’s Caribbean coast. Find out how you can open a foreign bank account and learn where you can rent in Ecuador for $220 a month.

Read also how IL expats spend their Christmas holidays overseas and where to buy your presents this year.

All this, and lots more…in your December issue—available to download now.

Editor’s Note: If you’re not a subscriber to the IL magazine, find out how you can become one here.

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November 20 marked the centennial of the Mexican Revolution. It was celebrated with parades, fireworks and parties all over Mexico.

In some cities around Mexico this year, the centennial is also a convenient kick-off date for the traditional round of year-end events.

From now until Christmas, expect to find free concerts, exhibits, dance recitals and other events with a holiday theme in many destinations. If you’ve been thinking of visiting Mexico, this is a great time to come.

In Campeche, for instance, where I live, the city is doing itself proud. From November 23 to December 21 it celebrates the 14th annual International Festival of the Historic Center. It also celebrates its first dance, jazz and hip-hop festival and its fifth congress on culture and multiculturalism.

A total of 132 events will take place all over the state. These include lectures, exhibits and dances from the area’s Maya culture; an exhibit of dinosaur fossils excavated in Mexico (on display in the capital until April 30, 2011); a performance by the English theater troupe Periplum; ballet performances; Spanish-language theater productions; and music almost every night, from classical and jazz to reggae, rock and hip-hop.

If you have kids, no worries, either. Children’s programming includes plays, music and a series of educational cartoons.

In Mérida, up the road from me in the state of Yucatán, there are always plenty of concerts, exhibits and other events, including during the holiday season.

New exhibits open this month in several Mérida museums and continue through Christmas. The annual Autumn Arts Festival, which began in October, runs through December 12. And outside Mérida, in Xmatkuil, the Yucatán State Fair—with 1,800 events—runs from November 12 to December 5.

If you’re planning a visit to Mexico during these months, check your destination’s local calendar of events for free, seasonal activities. You’ll likely find plenty to keep you busy.

Editor’s Note: Learn more about Mexico and other countries in our daily postcard e-letter. Simply sign up for IL’s free daily postcards and we’ll send you a free special report – Why Millions of Americans Are Moving to Mexico.

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Harry Potter and the Deathly Hallows, Part I opens in Mexico City this Thursday, November 18, and opens across Mexico the next day. That’s just when it opens in the U.S. And in many cineplexes across Mexico, you can see the film in English, with Spanish subtitles.

In this regard, Harry Potter is not particularly unusual. Many Hollywood blockbusters open in Mexico at the same time they open nationwide in the U.S. And plenty of cineplexes offer them in versión original. That’s good news for film fans considering a move to Mexico; you can still get your cinema fix South of the Border.

In addition, you’ll also find international films on offer—from France, Italy, Asia and elsewhere (though be prepared to read Spanish-language subtitles for these).

Not all cinemas offer films in original-language, so be sure to check. In smaller cities and towns, for instance, the local movie theater may show dubbed versions—product of Mexico’s thriving dubbing industry. But tourist zones and expat havens tend to have at least one Cineplex that offers original-language films.

This week, for instance, films on offer across Mexico include Wall Street, Due Date, Paranormal Activity 2, the thrillers Unthinkable and Buried, and the historical drama Agora, among others.  You’ll find independent movie theaters in Mexico as well as several large chains like Cinépolis (its website www.cinepolis.com.mx is a good place to check for film listings across Mexico).

Ticket prices, even in large cineplexes, tend to run less than they do in the U.S. Prices range from about $2.85 to $4. In some cities matinee prices are lower than evening showings, and children’s and senior citizens’ rates are usually available.

If you prefer to wait until a film hits cable TV, no worries there, either. Cable television—even inexpensive service plans aimed at the local Mexican market—tends to offer several channels with original-language programming. Most of that programming—both films and TV shows—is from the U.S.

Editor’s Note: Learn more about Mexico and other countries in our daily postcard e-letter. Simply sign up for IL’s free daily postcards and we’ll send you a free special report – Why Millions of Americans Are Moving to Mexico.

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President Obama was in India this week promoting trade between the U.S. and the world’s largest democracy.

The visit puts a spotlight on India—one of the emerging market giants.

The president talked about creating jobs…about closer ties between the two countries…and about trade.

What he DIDN’T mention was that India’s stock market is now one of the most expensive in the world—on a price-to-earnings (P/E) ratio of 24.3.

For those of you not familiar with this important measure of value, here’s what you need to know.

A company’s P/E measures its share price compared to its per-share earnings. This is sometimes referred to as the “price multiple” or the “earnings multiple.”

For example, if a company is trading at $50 a share and earnings over the last 12 months were $2 a share, the P/E ratio for the stock would be 25 ($50/$2).

Stock market indexes—such as the S&P 500 in the U.S. or the Sensex in India—also have P/Es. These are worked out by totaling the share prices and earnings of all the stocks that belong to that index.

The P/E is sometimes called the “multiple” because it tells us how much investors are willing to pay for a dollar of earnings. So if a stock market is trading at a P/E of 24, it means investors are willing to pay $24 for every $1 of current earnings.

Broadly speaking, stocks or stock markets with high P/Es suggest that investors expect higher earnings growth than those with low P/Es.

But a high P/E can also be a warning for value-minded investors that a stock or stock market is becoming too speculative.

What most investors don’t understand is that low P/E stocks return the most over time, not high P/E stocks. (Essentially, this is no different to being a contrarian investor and buying stocks that are out of favor over stocks that are considered “hot” by the crowd.)

This is backed up by research.

One big study of thousands of stocks on the NYSE and Amex exchanges in the U.S. from April 1968 to April 1990 showed that stocks with a low P/E had total returns (one year) of 17.9% versus total returns of 12.4% for stocks on a high P/E.

In fact, multiple studies have shown that investors using a low P/E strategy have outperformed investors using a high P/E strategy.

As contrarian investing legend David Dremen put it in his book Contrarian Investment Strategies:

“The consistency of these studies is truly remarkable. Over almost ever period measured, the stocks considered to have the best prospects [those with high P/Es] fared significantly worse that the contrarian stocks [those with low P/Es].”

Where the Real Emerging Markets Value Is Right Now

Of course, sometimes stocks or stock markets are on a low P/E for good reason. Maybe future earnings prospects really are horrible. Or maybe there’s an internal problem that’s dragging the company—or country—down.

But generally a low P/E strategy works.

So what does this mean for emerging market investors? And particularly for investors thinking of investing in India today?

One word: caution.

Right now, the only global markets trading on a higher P/E than India are: Sri Lanka (P/E of 31.2), New Zealand (P/E of 24.9) and Denmark (P/E of 27.2).

This doesn’t mean India doesn’t have great growth potential. It does.

But stock market profits are made “in the buying.” Meaning that the price you pay for growth is as important…if not more important…that the price you sell for.

Value minded profit hunters may want to consider Brazil (on a P/E of 12.6) and Russia (on a P/E of 9.5) and leave the hype to Obama.

Tune in to International Living Investor to learn more.

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International Living magazine’s November issue examines the benefits of being a part-time expat, including the option of voting with your feet.

The U.S. went through mid-term elections last week, and gridlock is looming for the next several years. What’s the best way to get some perspective and live a happier, healthier, more affordable life no matter who wins the elections?

International Living magazine’s November issue takes an in-depth look at how many Americans are voting with their feet and trading chaos at home for more sunshine, lower health care costs, and less stress.

And the move doesn’t even have to be permanent. In the November issue profiles, Catharina Flowers explains how she first heard about snowbirds a few years ago. She thought at first that she needed a lot of money, a great monthly retirement check or a rich husband.

“Then I read about Isla Margarita in the Caribbean and how ridiculously low the cost of living was there,” says Catharina. “I decided I just had to find out for myself.”

Catharina hopped on a plane and ended up staying five months. Now she calls herself a “snow-bird in training” and this year she’s spending winter in Ecuador. Next year? Maybe Peru, Chile, Argentina or Uruguay.

Is there a better way to leave the stress and tension behind?

In fact, as the November issue of International Living magazine shows, life abroad is so affordable that many expats buy not one, but two homes in the same country.

In November’s cover story, Suzan Haskins writes about David and Turalu Murdock in Nicaragua, who divide their time between a city condo in Managua and a dream home overlooking the Pacific.

And some expats take it even further, living part-time in two countries, like Dennis and Kristy Tonsing who get the best of Ecuador and Uruguay, for less than the price of life back home.

In fact, you can even make money living part-time abroad. In his November article, Real Estate Trend Alert editor Ronan McMahon reveals three places where the profit potential is as great as the weather and low cost of living.

The November issue is online now. If you’re not already a subscriber, you can sign up here and get instant access to the November issue.

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It’s snowing in my old neighborhood in New York today, and friends there are starting to dream of a little time away in a tropical climate. They’re not alone.

November is the start of the snowbird season in Mexico and other southern warm-weather countries. From now until March, a steady stream of visitors migrate down from the U.S. and Canada to escape the snow and cold. Some come for just a few weeks; others stay for the entire season.

Here are my top five picks for snowbird escapes in Mexico. In these areas you’re virtually guaranteed warm weather, and you’ll easily find short-term rentals for the winter season.

Puerto Vallarta. In July, AARP named this Pacific Coast resort its top pick worldwide for U.S. retirees. Why AARP loves it: Vallarta’s sunny winters, its large expat community, and its excellent access to the U.S. (numerous airlines offer direct flights from the U.S., including Continental, American and Alaska Airlines).

Snowbirds love Vallarta for these same reasons. Add in one of the largest and most beautiful bays in the world, Banderas Bay; top-flight restaurants and shopping; a wealth of outdoor activities; apartment rentals and hotels at every price point; and a historic downtown that is aptly named the “Romantic Zone.”

Yucatán Gulf Coast. If Vallarta is the yin, then the Yucatán Gulf Coast is the yang. Just a short drive from Mérida, with its international airport, on the Yucatán Peninsula, this coast is dotted with small, laid-back beach towns.

Except for Progreso (population about 50,000), most of these are tiny fishing towns, with sandy roads leading down to the beach. You won’t find movie theaters, elegant restaurants or cafés, shopping malls, or even much in the way of supermarkets.

What you will find, though, are calm, clean beaches; fresh seafood straight from the dock; plenty of modestly-priced rentals (both condos and beach houses); a casual, family atmosphere; and away-from-it all relaxation. Those hammocks you find swinging on the porches of beach houses here? They’re not just for decoration…

Playa del Carmen. Once just a fishing village and where you caught the Cozumel ferry, Playa today is all grown up. It has high-end shops (and even a Liverpool department store); loads of restaurants; activities galore, including every type of water sport imaginable; beautiful beaches; and a bohemian vibe.

Playa skews young—or at least young at heart. If you stroll trendy Fifth Avenue, it may seem that there’s no one in town older than 30.

But look closer and you’ll see families with children, grandparents and others mingled among the surfer dudes and dudettes. The full-time expat community here is international, so don’t be surprised if you hear Italian and French as well as English.

There are plenty of condo rentals here for stays as short as a week. For lower prices, look farther from the beach.

Manzanillo. About five hours south of Puerto Vallarta on Mexico’s Pacific Coast, Manzanillo is a big port town with a big-hearted Southern California feel. The city has two five-mile-long bays, so there’s ample beachfront.

Manzanillo bills itself as the Swordfish Capital of the World, which tells you something about the fishing here. But there’s also swimming, snorkeling and just hanging out. Stretches of the beachfront are lined with condo buildings, where you can get seasonal apartment rentals, or buy your own—you can find near-beach condos costing as little as the low $70,000s.

Mazatlán. This Pacific Coast city, which was Mexico’s premier beach resort until about 60 years ago, is making a comeback. The city has long been popular among snowbirds, many of them Canadian, who come back year after year. As many as 9,000 expats live here and it’s also a cruise ship stop, so plenty of locals speak some English.

Mazatlán has a long malecón (seaside boardwalk) for strolling and jogging, and the views are magnificent. If you’re a fishing fan, you’ll know that Mazatlán is a world-class destination. And, if you come later in the snowbird season, consider staying for Carnaval: Mazatlán has one of the best Carnaval parades in Mexico.

Mazatlán is arguably Mexico’s most affordable major resort. You can find good apartment rentals here for about $500 a month.

So if November’s wintry weather makes your spirits sink, take heart. The sun still shines in Mexico.

Editor’s Note: Learn more about Mexico and other countries in our daily postcard e-letter. Simply sign up for IL’s free daily postcards and we’ll send you a free special report – Why Millions of Americans Are Moving to Mexico.

You're reading Five Top Snowbird Destinations in Mexico This Winter by International Living, originally posted on InternationalLiving.com. If you've enjoyed this post, be sure to follow International Living on Twitter, Facebook, and Google+!

See the video below, where Glynna Prentice, IL’s Mexico Editor, reports from Campeche, Mexico.

Campeche is a UNESCO World Heritage city on the Gulf of Mexico. It’s turning part of its historic center into a pedestrians-only area like similar areas in Oaxaca, San Cristobal, and other Mexican colonial cities that are popular with tourists and expats.

Campeche wants to entice tourists to stay longer and enjoy the city—and pedestrian areas are one way to promote that.

Editor’s Note: Learn more about Mexico and other countries in our daily postcard e-letter. Simply sign up for IL’s free daily postcards and we’ll send you a free special report – Why Millions of Americans Are Moving to Mexico.

Click here for more video footage from our editors around the world.

You're reading Video Postcard: Campeche, Mexico—Working to Attract More Tourists by International Living, originally posted on InternationalLiving.com. If you've enjoyed this post, be sure to follow International Living on Twitter, Facebook, and Google+!

Driving toward Lake Arenal, Costa Rica, you take a left just after the towering volcano… active, as it turns out, but also the source of heat for dozens of surrounding thermal spas.

Just past the base of the volcano’s perfect cone on the south side of the clear, 30-square-mile lake, tucked into an impossibly green, wooded valley in the surrounding mountains, is Rancho Margo. It’s a hotel and resort, but it’s also a way of life… one imagined, brought to life, and nurtured by entrepreneur Juan Sostheim.

International Living magazine’s November issue takes an in-depth look at this Chilean businessman and the remarkable community he’s established near the shores of Lake Arenal in Costa Rica’s north central highlands.

Costa Rica already has an eco-reputation, with a significant percentage of land and shoreline devoted to natural preserves, a rapidly shrinking carbon footprint, and the lion’s share of its energy coming from hydro and other non-polluting sources.

Add to that Costa Rica’s stable democracy, lack of an army, universal medical care and the “pura vida” way of life, and Juan says the country made perfect sense.

“I had always been interested in growing my own food and living off the grid.  My personal view of where the world was heading and the legacy I wanted to leave my children motivated me to start Rancho Margot.”

Rancho Margot started off as a resort with an organic and energy-independent farm and food production operation. Water is heated naturally by running pipes through piles of organic compost, and natural gas comes from bio-digestors that process animal and human waste.

“The long-term plan is to develop a sustainable, self sufficient community and not just a resort or an integrated farm,” says Juan.  “Ideally I would like to see 50 to 80 families living, working and teaching in Rancho Margot, and we are already building some of the infrastructure for this purpose.

“Rancho Margot exists to teach and inspire people from all walks of life.  We do things differently here and it impacts everyone that visits in a positive way.”

Juan Sostheim and Rancho Margot are featured in the November issue of International Living magazine. You can read the article here.

Editor’s Note: Learn more about Costa Rica and other countries in our daily postcard e-letter. Sign up for IL’s free daily postcard here and we’ll send you a FREE REPORT - Why Are Americans Still Flocking to Costa Rica.

You're reading Living Off The Grid: One Man’s Sustainable Dream in Costa Rica by International Living, originally posted on InternationalLiving.com. If you've enjoyed this post, be sure to follow International Living on Twitter, Facebook, and Google+!

This may be some of the most exciting (and controversial) news to come out of Panama City of late: construction has commenced on two new islands in the Panama Bay.

In 2008, I reported in International Living rumors the Panama government was considering this massive project. Reports two years ago estimated the investment would be close to $140 million; the new figure released days ago puts the entire cost at $300 million.

The new islands are being built off the coast, just across from the ritzy new neighborhood known as Punta Pacifica.

The original plan called for 138 buildings of up to three stories in height—but there’s no word yet on whether that figure has since been revised. We do know, however, that the project includes the construction of two new bridges—one to connect the islands or “sectors” to each other, and another connecting the new islands to the mainland.

Per Panama’s La Estrella, the easternmost island will be about 25 acres, while the westernmost island will be slightly smaller, at just over 21 acres in size. Local consortium Grupo Los Pueblos is driving the project with the help of Mexican construction company Ingenieros Civiles Asociados (ICA).

Local realtors say there will also be a 26-acre harbor featuring more than 200 wet slips. Other amenities may include parks and recreational areas, golf course, tennis courts, 24-hour security and even heliports.

Local news sources have yet to address rising concerns about the project. Punta Pacifica is already over-congested, with heavy traffic during peak hours…how will the new development avoid compounding the problem? Will owners in Punta Pacifica, many of whom spent $300,000 and up to enjoy ocean views, have their views obstructed? How will the new project affect the massive Panama Bay cleanup that is currently underway? We’ll keep our eye on the situation as more details are released.

Panama president Ricardo Martinelli says the development is yet another sign the tiny nation’s economy is thriving…and will continue to do so for years to come.

The project, he says, will boost tourism and create jobs. Ocean Reef is just one of many mega-projects underway in Panama today, leading some to dub the nation the “Latin Dubai.” According to recent reports and IMF figures, the isthmian nation will grow more than any other country in Latin America over the next five years, with an estimated annual growth of 6.6% on average.

According to the developers, the first Ocean Reef lots should be delivered by first quarter 2012 and possibly as early as December 2011.

For more details on Ocean Reef, see: www.oceanreefislands.com.

Editor’s Note: Learn more about Panama and other countries in our daily postcard e-letter. Simply sign up for IL’s free postcards and we’ll send you a FREE REPORT — Panama: First World Convenience at Third World Prices. This special guide covers insider advice on real estate, retirement and more in Panama. It’s yours free when you sign up for our IL postcards.

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