Panama’s popularity as a destination to live and retire in has been extolled by many people over the years, and it’s lived up to the hype. Each year, more and more expats are choosing Panama as their go-to destination, and the reasons are abundant, and obviously different for everyone. That being said, there are a few key reasons why expats and expat retirees are choosing Panama so often. There’s so much to offer, we’ve come up with a few important factors we think are major draws, and could help you get a head start on your own journey here. Here are our top 5 reasons why Panama is a great place to live and retire.
Quality of Life
When it comes to quality of life, Panama is nearly unmatched. Panama has year-round warm weather, easy access to a variety of services, a high level of business stability, and low crime. Panamanians are considered to be some of the happiest, most content people on earth, and this culture and lifestyle rubs off on anyone who calls Panama home. You can live a great life, with low stress, and still keep the creature comforts that make you happy back home.
Accessibility
Logistically speaking, Panama has one of the most accessible locations for relocating or retiring in the entire hemisphere. Panama calls itself the “gateway to the Americas”, and the name rings true in many senses. Panama offers over 100 direct flight to destinations all over the world, and is a short flight from the US, and other Central and South American business centers. Panama is also a small country, with a major international airport, numerous marinas, and an easily accessible highway system that connects you with the rest of the country and Central America.
Climate
Though Panama is known for it’s hot, humid climate, there are actually a variety of microclimates throughout Panama, which make the weather as diverse as the people. No matter where you are in Panama, the weather is temperate; it goes from 65 degrees in the hills of Boquete, to 90 degrees in the city and beaches, and this means that there’s never a truly cold day in the country. For people who are looking to move or retire to Panama, this makes outdoor activities, and enjoying your natural surroundings much easier, and much more comfortable.
Stable Currency
Panama’s use of the US Dollar is a huge benefit to both locals and expats who live, retire, and work in the country. There is very low inflation, and interest rates stay low due to the currency’s stability. Investing in Panama, and investing in your future in Panama is less risky financially, which is a big draw for people who want to call Panama their home. It also makes bank transfers and opening a new bank account much easier, and with less worries.
Real Estate
Panama’s real estate market is hot, and has a lot to offer for anyone looking to invest in Panama, or live and retire in Panama. There is a huge luxury market, but also a good number of mid-range and budget properties to choose from for any taste. Whether it’s city living, beaches, high up in the mountains, or suburban comfort, Panama has it all. And best of all, Panama’s real estate market continues to grow. This means good news for competition, and market driven innovation.
