Recent stories from CNN and the New York Times have raved about Panama City as being one of the most inexpensive capitals in the world.
CNN explained that the Economist newspaper released its Worldwide Cost of Living Survey which placed Panama City as the third cheapest capital city following Tehran, Iran and Jeddah, Saudi Arabia and asked the question: Who would want to visit the other two?
As CNN’s headline claims “Live Large, Pay Small in Panama City”. “Panama City is the most affordable capital city in the Americas”.
CNN raved about Panama’s unique 30 days free medical insurance for all tourists arriving at Tocumen International Airport. “Before stepping foot outside the airport, you’ve started saving.”
Even the taxi fares to downtown for $25 are low compared to $145 in Rio de Janeiro or $427 in Tokyo. The hotels are cheaper too. One example is the Waldorf Astoria Panama with rooms starting from $159. “A stay here certainly doesn’t feel like skimping. The outdoor swimming pool is covered in gold tiles, there’s a swanky spa and each guest is given a personal concierge.”
CNN went onto describe the variety of fine dining restaurants with low prices.
The NY Times was equally enthusiastic in its story titled “Panama City Rising.”
“Despite being founded in 1519, Panama is really only 13 years old, its birthday being Dec. 31, 1999, and the day the United States gave the Panama Canal and its surrounding land back to the Panamanians. For the first time in a century the country was whole and independent. Over the past 13 years, Panama City has been racing to become a world-class metropolis, and for travelers, the changes have been enormous.”
The NY Times continued to describe the infrastructure projects, new hotels, the canal expansion, and growing economy. “Indeed, since 2008, when much of the world was in a recession, the Panamanian economy has expanded by nearly 50 percent.”
Just like the CNN story, the NY Times praised Panama City for its low cost lifestyle.
For a capitol city, Panama City is not only inexpensive, but fast becoming a hip, cool place to party, eat, drink, dance, and just being seen!
Relocating to Panama is easier with so many immigration visa options and consulting with a Panama law firm about visas, real estate laws, taxes, and work permits and investments here will make the relocation safer.
Read more about moving to Panama here.