Right Now Could be the Best Time to Come to Panama...the Hub of the Americas
Why do so many expats choose Panama? Often the intangibles…the feel of a place…play a big role. But there are also a lot of concrete, quantifiable reasons Panama is so appealing, starting with its modern infrastructure.
Panama’s cosmopolitan capital, Panama City, is the only true First World city in Central America. The beautifully maintained Pan-American Highway runs the breadth of the country, making travel easy. High-speed Internet and cell coverage are remarkable…as are the power, air, and water quality.
For expats from the U.S., Panama is also convenient because the currency is the U.S. dollar. No matter where you’re from, you’re likely to appreciate the fact that there are many English speakers in Panama, especially among the well-trained medical community. The hub that is Tocumen International Airport makes it easy to fly from Panama to nearly anywhere in the world…often with no layovers.
Choose From a Varied Landscape
Many of the expats here also cite Panama’s geographical diversity and location, with proximity to North America being a major factor. In a country roughly the size of South Carolina, you’ll find mountains and beaches within an easy striking distance—no matter where in the country you are. Wake up on the Caribbean and have lunch overlooking the Pacific…they’re a couple of hours apart at the isthmus’ “skinniest” sections. Choose your preferred climate, topography, population density and more in Panama’s varied landscape.
And then there are factors the lists and indexes can’t quantify. For instance, the people of Panama are beautiful, inside and out. Get to know them just a little and you’ll see they have big hearts and an even bigger zest for life. They’re welcoming to foreigners, who in turn feel safe here. Increasing numbers of North Americans, Europeans, and others are moving here and contributing to the burgeoning economy.
Panama: A Convenient, International Hub
Some expats come in search of adventure or a quality retirement destination, while others seek to take advantage of all Panama has to offer as a business destination. There are well-established expat populations (and many clubs and organizations) in Panama from all over the world.
And though Panama has always been a busy little hub (thanks in large part to the Panama Canal), it’s experiencing something of a heyday. In 2007, Panama’s economy was hailed as the fastest-growing in the hemisphere. Despite the 2009 global financial crisis, Panama’s economy has continued to grow faster than nearly any country in the region. Mega-port projects and major investment in infrastructure will continue to fuel the economy into the next decade.
There’s a palpable excitement as the country is coming into its own. You can see it in the exciting food and culture scenes and the flashy, innovative architecture and the new industries that are adding to local offerings. New laws to encourage filmmaking paved the way for Panama to get its very own International Film Festival. The annual jazz festival is a renowned event. Major international summits are held at Panama’s large, modern convention centers.
You’ll find golf, tennis, sailing, fishing, surfing, birding and every other activity imaginable—with the exception, of course, of snow-skiing. With so much going on, expats here will tell you that it is extremely easy to make friends, regardless of age, gender, or marital status.
Moving to Panama is Easy
For those looking to move to Panama or live here part-time, two new residence options make moving here even easier than it was before. (Quite a feat, as the Pensionado residence program has already helped thousands move here with relative ease.) These days, there's a visa for everyone.
The international community here has always been strong, but thanks to the new residence programs, it’s growing faster than ever. And new arrivals are introducing locals to new foods, activities, methods and more. It’s been great for Panama.
These days, you can get trendy food items like kale and chia seeds…indulge in clothes from Banana Republic and Gap…and buy specialty items, from kitchen and barbecue gadgets to sports and hobbyist gear. What other country in the region can boast such convenience?
Then there’s the cost of living. Panama is not the cheapest country in the region, but it is often cited as the best overall value for your money.
If you daydream about sunshine, tropical beaches, and welcoming locals, then Panama may be for you. A couple can live well here for $2,500 a month or less, including rent.
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- Population: 3,559,408
- Capital City: Panama City
- Climate: Tropical maritime; hot, humid, cloudy; prolonged rainy season (May to January), short dry season (January to May)
- Time Zone: GMT-5
- Language: Spanish (official), English 14%; (many Panamanians are bilingual)
- Country Code: 507
- Coastline: 2,490 km
The drive from my hometown of David west to the town of Volcan in Chiriquí Province is one of my favorite scenic routes in all of Panama. I pass cattle pastures, dairy farms, horse stables, and chicken farms framed by rolling green hills. At certain vantage points I look out over the landscape and can see all the way to the Pacific coast. Colorful flowers and a surprising variety of trees and foliage decorate the roadway as I wind my way up the slope of the mountain.
The sound of rolling waves soothes me as I lie on the warm, glittering white and black volcanic sand. Bursts of green palm trees ring the beach, which is dotted with bits of driftwood, coral, and shells. White marine birds complete the scene, standing on spindly legs, looking out towards the sky-blue sea.
Cost of living is one of the major concerns for many retirees considering a move overseas. It’s one of the reasons my husband and I chose to settle in David, the capital of Chiriqui Province in western Panama. Life here is not only pleasant, relaxed, and fun, but super affordable. We average about $1,500 a month for our living expenses. Here is a typical monthly budget for myself and my husband:
After enduring too many cold winters I decided it was time to move overseas. Shoveling snow just to get to work and more shoveling to get back into the garage at night was exhausting. It was adding more time to my work day, meaning less time for relaxing at home. Plus I hated how the cold dictated how and when I did everything. It would take twice as long to get anywhere. And my cost of living was going up and up and my heat bills just kept rising. Then there was the worry about the wear and tear on the car due to the freezing temperatures, frozen pipes, downed power lines, and power outages.
Neither Yvonne nor Michael Bauche qualiﬁed for a pension in Canada. And so the adventurous duo decided to embark on a round-the-world trip that has seen them visit Belize, Guatemala, Honduras, Portugal, Italy, France, and the Caribbean. “We cut our expenses in half,” says Yvonne of their new life on the road. “Running two cars, paying for electricity, gas, phone, cell phone, internet, food, and eating out used to cost us almost $4,000 a month. Our average expenditure is now about $2,000, and we live and play very well on that.”
“We were drawn to Panama by the size of the country and all it has to offer…large cities with great shopping…the number of expats, and the friendly, relatively easy visa process,” says Kimberly Call. Kimberly and her husband, Dale, and their family were living in Texas when they decided it was time for a lifestyle change. Dale had spent over 40 years in the grocery business and was ready to leave it behind him. He feels that Panama is a good place for him to start a new business.
Much of Panama’s pacific coast consists of unspoiled beaches and little communities where you’ll find friendly people and small towns offering a taste of the past. Here authentic Panamanian culture still exists and people treat visitors like welcome guests. One such community is the surf town of Santa Catalina. It’s located in the province of Veraguas, about two-and-a-half hours southwest of the city of Santiago.
There are many countries around the world that offer you the right to residence without having to be physically there. The biggest benefit of having residence in another country is the ability to avail of offshore and financial protection strategies that would otherwise be unavailable to you as an America citizen.
If you’ve been researching places around the world to retire, you may have noticed that Panama keeps showing up in lists of top spots. And with good reason. I’ve been living in Chiriquí Province in western Panama for the past six years. So I can tell you, there are plenty of reasons why Panama keeps taking those high honors.
Halong Bay is one of Vietnam’s most spectacular wonders. This 580-square-mile natural cove contains some 2,000 limestone islands—occupied only by trees, ferns, birds, and monkeys. Small ﬂoating villages and isolated sandy beaches also entice. The best—and perhaps the only—way to see Halong Bay in its entirety is by boat, or more speciﬁcally, by junk. A junk is an ancient Chinese sailing-ship design, and many junks still sail Halong Bay.
You can travel in style and stay in amazing places (like Tuscany, pictured) when you have the secrets of the roving retirees. © Kre_geg-Istock Traveling the world in retirement was once the sole purview of the rich and famous…but no more. These days, the world is more accessible than ever to everyday people—if you know […]
Though Panama boasts two coasts and hundreds of islands, there’s a region on the Pacific that really stands out in terms of climate. Known as the Arco Seco, or Dry Arc, the Coronado region gets more sunshine than nearly any other place in the country.
At home, prices are rising. It costs more to put gas in the car, buy groceries, and pay for health insurance. At the same time, retirement savings eroded in the market downturn. If you’re looking overseas for a low-cost alternative to an uncertain retirement at home, there’s good news. You can ﬁnd it in places that offer not just “cheap” living, but a whole basketful of beneﬁts, too—places where a mild spring-like climate is yours all year round…beaches are of powder-white sand…snow-capped mountains soar above colonial towns…and your costs could be as low as $1,000 a month.
The town of Las Tablas on Panama’s Pacific Coast, is renowned for everything from colorful Carnival celebrations to artisanal textiles, pottery, and leatherwork. And beaches. Life in this sunny region of Panama is good , say the expats who, in increasing numbers, have begun to settle there. “Las Tablas is graced with more sunny days and less humidity than any other part of the country,” says InternationalLiving.com Panama editor Jessica Ramesch. “And the cost of living is the lowest in Panama. Here, a couple can easily live on $1,000 a month, including rent.”
For too many of us, daily life means paying mounting bills, commuting to work, staying there far longer than is healthy, and worrying about…well…everything. It’s what folks call the rat race. The futile grind. It’s stressful, it’s bad for your health, and it feels like it will never end. But freeing yourself from it is easier than you think. In this issue of International Living we hear from expats who have already escaped and taken advantage of low costs overseas to free themselves. They are living in beautiful locations around the world, enjoying lives that are a far cry from their experiences back in the States.
Lorelei Kusin has seen four Panamanian presidents come and go during her 14 years in Panama. But she lives on an island in Bocas del Toro province, and in this part of the Caribbean, time seems to stand still.
“Congestion, noise, and frenetic energy.” That’s how Maureen LoBue describes her former life in San Diego. Her new life in Panama couldn’t be more different. Here, her days consist of salsa dancing, swimming, and plenty of happy hours. “I rent a three-bedroom house with three porches and a huge yard—in the beach town of San Carlos—for just $800 a month,” says Maureen. Panama City is just over an hour away. She goes often, adding that a bus to the vast Albrook Mall and National Bus Terminal is just $2.50. And she’s about 10 minutes by car from a hub town bustling with supermarkets, shops, a clinic, and more.
Jennifer Blackstone’s newfound tropical lifestyle is a far cry from her childhood in Wisconsin. In fact, it’s a life she didn’t think she could ever have. “Several things fell into place and conspired to get me to Panama,” says Jennifer, who fell in love with the tropics several years ago. “I visited Costa Rica and I loved the tropical feel…the colorful ﬂowers and the warm ocean,” she says. “But the thought of living there…it was a fantasy.
My husband Gary and I love to travel. Happily, since we retired to Panama, it’s easy and convenient to do. The proximity of Costa Rica, Colombia, Nicaragua, Brazil, Peru, and numerous additional Latin American countries, as well as many exotic Caribbean islands, gives us the opportunity to visit them all. Being retired we have the time…and, since our life in Panama is so economical, we can afford it.
Peter Roberts and his wife, Sally, were never really intending to move to Panama. They had even less inkling that they would buy a property—specifically a working farm. Two bird enthusiasts, Peter and Sally visited the mountain region of Boquete to take a bird-watching tour.
Being a small country, it’s easy to get around Panama. That means most parts of the country are within easy reach of our home in the Chiriqui Province. Recently, my husband Gary and I jumped in the car and took to the road to check out the beach town of Pedasi.
Something strange happens when you’re buying property overseas. It happens to cautious folks, wary folks, even savvy folks that are seasoned pros when it comes to buying real estate. It’s something you need to watch out for. It’s getting caught up in the fine details of your contract…and, in doing so, losing sight of the forest for the trees.
I get a couple of emails a month like this from International Living readers: “I’ve been doing my research as you suggest. I know I want to make my move abroad, but no matter how many likely destinations I cross off my list, I still have too many to choose from. Where should I go?”
The Brodeurs chose Las Tablas so they could live well, without sacrificing the good things in life. They go to the local expat hangout, Ponchalo’s, several times a week. The cost averages $20 total, including beverages. “Recently we had a to-die-for filet mignon for $6 at a place around the corner,” says Armand.
People come from all over the world to enjoy life among the paradise islands of Bocas del Toro on the Caribbean coast of Panama. They come for the surfing…for the deserted islands…and for the turquoise sea. Justine and Jeff Catalano also came for the sense of community. “Our favorite thing about living in Bocas is […]
Santa Fe is a lovely rural village in the highlands of Veraguas Province of central Panama. With a population of around 3,200, it truly has a small town feel and charm. With an elevation of around 1,500 feet, is also boasts a near-perfect climate. The daytime high temperature ranges from 75° F to 85° F and at night it cools down to 65° F to 70° F. These traits attract Panamanians seeking relief from the heat of the lowlands and foreigners seeking a slower pace of life in a mountain setting.
Lying in the Arco Seco, little Las Tablas is Panama at its best. This town of under 30,000 people lies on the Azuero Peninsula, a region renowned for everything from colorful Carnival celebrations to artisanal textiles, pottery, and leatherwork. Life in this region of Panama is good. It is graced with more sunny days and less humidity than any other part of the country. And the cost of living is the lowest in Panama: Here, a couple can easily live on $1,000 a month, including rent, as expats Joyclyn and Armand Brodeur have found out. Originally from St. Louis, the Brodeurs came to Las Tablas in August 2014 to test-drive their Panama retirement, so to speak. Armand, 66, and Joyclyn, 59, long yearned for a tropical, beach lifestyle. At the same time, they wanted to choose a place where it was possible to live on a social security check.
Spectacular mountains, a towering volcano, azure waters, and verdant rainforests with a wealth of wildlife: Chiriquí province is Panama’s natural treasure trove. It’s also the place I—and about 20,000 other expats—call home, and it’s Panama’s most popular tourist destination. Whether you live in Chiriquí, plan to retire here, or just come on vacation, here are seven of my favorite daytrips that Chiriquí has to offer. Mysteries of Panama’s Distant Past. One of Panama’s most intact archaeological sites, Sitio Barriles was a center of the native Barriles culture, which thrived in the area until around 800 AD.
If you’ve made up your mind to live the international lifestyle—and even done your homework—but you’re still afraid to actually take the leap, I have good news for you. The fact that you’re scared means that somewhere inside of you, you believe it’s actually possible to do the thing you want to do. That alone is huge. Think about it. If you didn’t think it was possible you’d never even get to fear. When you allow yourself to get to the fear stage, you’re one step closer to achieving your dream.
For a tiny country, Panama offers a lot of choice—city living, mountain hamlets, and more beaches that you might realize. Despite having both a Pacific and Caribbean coast, a host of affordable flights from the U.S., and stellar infrastructure, Panama’s beaches aren’t overrun by big resorts. Each little beach town has its own personality, so no matter your taste or budget, you’ll find a beach town to suit you. Just an hour’s drive west of the nation’s capital, on the Pacific Coast, you’ll find the beach town that’s favored by expa
There are plenty of reasons to retire to Panama, and several reasons I love being a retiree in Chiriqui Province. What are they? Well, there’s the weather and the natural surroundings, the variety of fun things to do, and to top it all off, the low cost of living. In the city of David, where I live, a couple can live very comfortably on just $1,500 a month—including rent. The quality of life you get for that amount is hard to beat.
When Bob and Irma Caragol started looking for their new retirement home, they knew what they wanted. “We were looking for a warm climate at a high elevation, enough land for a garden with a good water source, a safe way to diversify our assets, and an affordable cost of living,” recalls Bob. They found all this and more in Santa Fe, Panama. “We are so impressed by the people of Santa Fe,” Bob says. “They are so friendly and helpful and we feel welcome here. There’s no sense of class distinction as in other places, and almost no crime. The environment is unspoiled, with clean rivers and no pollution.”
If you fancy the rural lifestyle—unbothered by traffic and hurry—but with all of the conveniences of a city close by, there’s a location in Panama that should be on your radar. In the highlands of the Veraguas Province in west-central Panama, you’ll find Santa Fe. It’s a small town that offers all the beauty and comfort of the rainforest, fresh produce from the fertile volcanic soils, and an easygoing lifestyle of bygone days in the States. Nearby, in the lowlands, you’ll find the city of Santiago—and all the convenience and variety of a small city. That includes plenty of shopping and all the options for entertainment and indulgence you could crave. Though only about an hour apart by road, these two are worlds apart in character.
In this article, we outline the best five tropical island paradises for retirees. These places meet all the criteria needed to make them perfect retirement havens. As well as looking the part, all five of these islands—spread throughout the world—are becoming easier to get to as more and more flights open up to and from North America. Many tropical getaways have been consumed by commercialism, leaving them beyond every reasonable budget. But the islands on our list remain affordable, as attested by our expat experts on the ground. On some, it’s possible to live for as little as $1,500 a month including rent.
“Florida was nice but boring,” Maryann Risley says of her retirement to Orlando with husband, Steve. After all, “you can only visit Disney World so many times.” The couple craved some excitement and some new adventure, so they began to research retirement abroad. “I found IL magazine and started to read about the benefits of retiring in Panama,” Maryann says.
Turquoise blue water, white sand, palms swaying in the breeze, and a cold drink in hand…it’s the setting for a new life on one of Central America’s picture perfect Caribbean islands. In a place like this, the cares of the world melt away and you are very much on island time.
“I wasn’t really looking to make a move at all,” says Deborah Gershon. “I came to visit Boquete in Panama’s Chiriqui Highlands a few times in order to decide whether it might be my ultimate retirement spot.” “Somewhere along the way on my last visit, it occurred to me that there really wasn’t any reason to wait, since I could telecommute nearly as well from Panama as I was doing from California.” Born and raised in Los Angeles, 59-year-old Deborah is an attorney.
I live in Boqueron, a small community in the highland province of Chiriqui, an area almost completed overlooked by expats but filled with friendly locals. Here I rent a comfortable, air-conditioned house—fully-furnished—on a pretty little river for just $175 a month. For another $25 a month, someone comes regularly to maintain the yard. I live among great neighbors, manage comfortably on just a little money, and with decent internet connection, can chat to the folks back home whenever I wish.
Anne Gordon de Barrigón didn’t want to come to Panama the first time she was invited. “But it was a period of transition in my life and I was restless,” she recalls. “So my friend convinced me and I just fell in love with the country and the people. I knew it was the right place for me and I’ve been here ever since.” That was in 2004. Today Anne, age 57, lives in the leafy and tranquil Ancon neighborhood of Panama City with her husband and together they own and operate whale-watching and indigenous village tours.
One of the best things about living in Chiriqui Province is the ease with which I can change my environment to suit my mood. I live on the north side of the provincial capital of David, and from my home many of the best places to see and things to do are only about an hour away. Boca Chica, for instance, is a bit more than an hour’s drive east of David right on the Pacific coast. I went there with my husband recently for a brief birthday holiday, a little R&R.