Americans - Why They Come to Panama
6. The Economy * Tens of millions who saw their retirement investments chopped in half now face a major crossroads: work for another 5 years, or retire where things cost less. Panama makes that an easy decision.
9. High Costs at Home. For retirees, who need more personal services, including quality health care and household help, but don't buy many imported goods, Costa Rica has been a fine haven. In Panama, they get all that plus extensive retiree benefits and it's a great place to buy almost anything. The Colon Free Trade Zone makes everything - and we mean everything - available at good prices. Panama, especially OUTSIDE the capital city, is cheap!
10. Terrorism. The tragic events of 2001 triggered an outflow of Americans. Suddenly, the citadel of America did not feel as safe, and countries with warm climates, unlikely targets for terrorists, became attractive to many.
11. Panama's Housing. Suddenly, Panama City and the surrounding beach areas have extremely attractive housing options for any budget.
12. The Skyline. With hundred-story residential towers going up, Panama City conveys such dynamism that its attraction is felt immediately.
Ten percent of England's citizens live outside its borders, but Americans have been far more hesitant to venture abroad to live, with only about two percent living as expatriates. That's changing, and a lot of them are considering Panama. Costa Rica is long established as a retirement destination for North Americans and Europeans, but here's why Panama is becoming a top 3 retirement haven:
1. Baby Boomers * You've heard the statistics: 70 million Americans will retire in the next 15 years and many will seek their paradise in the sun. If 1/10 of just one percent of them head for Panama, that's 70,000 people with a Social Security and pension income.
2. Returning Military * Tens of thousands of US servicemen know Panama already, because they were stationed there. If they retire abroad, it's a likely destination for them. Already they are buying lots and building homes in Coronado, or snapping up condos in Panama City.
3. Cruise Ship Passengers * Every year hundreds of thousands are treated to the sight on Panama City's skyline upon traversing the Canal. These travelers are near retirement age and their cruise leaves them with excellent impressions.
4. Panama is Courting Them * By funding documentaries and commercials on US and Canadian TV, Panama has proven it wants both tourists and retirees to reside permanently. It also lures the retiree with generous tax incentives and discounts on many life essentials.
5. The Internet. With a Vonage or Skype phone (so talking with friends and family back home is just a local call either way) and e-mail, it isn't so lonely or scary abroad. Chat groups like Yahoo's viviendo_en_panama help too.
6. The Economy * Tens of millions who saw their retirement investments chopped in half now face a major crossroads: work for another 5 years, or retire where things cost less. Panama makes that an easy decision.
9. High Costs at Home. For retirees, who need more personal services, including quality health care and household help, but don't buy many imported goods, Costa Rica has been a fine haven. In Panama, they get all that plus extensive retiree benefits and it's a great place to buy almost anything. The Colon Free Trade Zone makes everything - and we mean everything - available at good prices. Panama, especially OUTSIDE the capital city, is cheap!
10. Terrorism. The tragic events of 2001 triggered an outflow of Americans. Suddenly, the citadel of America did not feel as safe, and countries with warm climates, unlikely targets for terrorists, became attractive to many.
11. Panama's Housing. Suddenly, Panama City and the surrounding beach areas have extremely attractive housing options for any budget.
12. The Skyline. With hundred-story residential towers going up, Panama City conveys such dynamism that its attraction is felt immediately.
13. Retiree Benefits. For "pensionados" there is a long list of breaks on transportation, food, lodging, entertainment, and health care.
14. Stability and Infrastructure. Panama is now a solid country, and the United States will not let it be otherwise. Anything that could threaten the Canal guarantees immediate US intervention.Panama also has outstanding health care, as do Costa Rica and Colombia, at very enticing prices
15. Attractive Development and Amenities * . Ambitious resort and residential projects pave the way for more upscale developments and higher demand for land, just by showing how it's done.
16. Familes. Suddenly, suburbia has arrived around Panama City, with Balboa and Costa de l'Este, not to mention fine international schools. Employees of the US embassy, of multinationals with subsidiaries in Panama, and those who have found a way to make a living internationally are flocking into these areas.
Ten percent of England's citizens live outside its borders, but Americans have been far more hesitant to venture abroad to live, with only about two percent living as expatriates. That's changing, and a lot of them are considering Panama. Costa Rica is long established as a retirement destination for North Americans and Europeans, but here's why Panama is becoming a top 3 retirement haven:
1. Baby Boomers * You've heard the statistics: 70 million Americans will retire in the next 15 years and many will seek their paradise in the sun. If 1/10 of just one percent of them head for Panama, that's 70,000 people with a Social Security and pension income.
2. Returning Military * Tens of thousands of US servicemen know Panama already, because they were stationed there. If they retire abroad, it's a likely destination for them. Already they are buying lots and building homes in Coronado, or snapping up condos in Panama City.
3. Cruise Ship Passengers * Every year hundreds of thousands are treated to the sight on Panama City's skyline upon traversing the Canal. These travelers are near retirement age and their cruise leaves them with excellent impressions.
4. Panama is Courting Them * By funding documentaries and commercials on US and Canadian TV, Panama has proven it wants both tourists and retirees to reside permanently. It also lures the retiree with generous tax incentives and discounts on many life essentials.
5. The Internet. With a Vonage or Skype phone (so talking with friends and family back home is just a local call either way) and e-mail, it isn't so lonely or scary abroad. Chat groups like Yahoo's viviendo_en_panama help too.
6. The Economy * Tens of millions who saw their retirement investments chopped in half now face a major crossroads: work for another 5 years, or retire where things cost less. Panama makes that an easy decision.
9. High Costs at Home. For retirees, who need more personal services, including quality health care and household help, but don't buy many imported goods, Costa Rica has been a fine haven. In Panama, they get all that plus extensive retiree benefits and it's a great place to buy almost anything. The Colon Free Trade Zone makes everything - and we mean everything - available at good prices. Panama, especially OUTSIDE the capital city, is cheap!
10. Terrorism. The tragic events of 2001 triggered an outflow of Americans. Suddenly, the citadel of America did not feel as safe, and countries with warm climates, unlikely targets for terrorists, became attractive to many.
11. Panama's Housing. Suddenly, Panama City and the surrounding beach areas have extremely attractive housing options for any budget.
12. The Skyline. With hundred-story residential towers going up, Panama City conveys such dynamism that its attraction is felt immediately.
13. Retiree Benefits. For "pensionados" there is a long list of breaks on transportation, food, lodging, entertainment, and health care.
14. Stability and Infrastructure. Panama is now a solid country, and the United States will not let it be otherwise. Anything that could threaten the Canal guarantees immediate US intervention.Panama also has outstanding health care, as do Costa Rica and Colombia, at very enticing prices
15. Attractive Development and Amenities * . Ambitious resort and residential projects pave the way for more upscale developments and higher demand for land, just by showing how it's done.
16. Familes. Suddenly, suburbia has arrived around Panama City, with Balboa and Costa de l'Este, not to mention fine international schools. Employees of the US embassy, of multinationals with subsidiaries in Panama, and those who have found a way to make a living internationally are flocking into these areas.
Ten percent of England's citizens live outside its borders, but Americans have been far more hesitant to venture abroad to live, with only about two percent living as expatriates. That's changing, and a lot of them are considering Panama. Costa Rica is long established as a retirement destination for North Americans and Europeans, but here's why Panama is becoming a top 3 retirement haven:
1. Baby Boomers * You've heard the statistics: 70 million Americans will retire in the next 15 years and many will seek their paradise in the sun. If 1/10 of just one percent of them head for Panama, that's 70,000 people with a Social Security and pension income.
2. Returning Military * Tens of thousands of US servicemen know Panama already, because they were stationed there. If they retire abroad, it's a likely destination for them. Already they are buying lots and building homes in Coronado, or snapping up condos in Panama City.
3. Cruise Ship Passengers * Every year hundreds of thousands are treated to the sight on Panama City's skyline upon traversing the Canal. These travelers are near retirement age and their cruise leaves them with excellent impressions.
4. Panama is Courting Them * By funding documentaries and commercials on US and Canadian TV, Panama has proven it wants both tourists and retirees to reside permanently. It also lures the retiree with generous tax incentives and discounts on many life essentials.
5. The Internet. With a Vonage or Skype phone (so talking with friends and family back home is just a local call either way) and e-mail, it isn't so lonely or scary abroad. Chat groups like Yahoo's viviendo_en_panama help too.
11. Panama's Housing. Suddenly, Panama City and the surrounding beach areas have extremely attractive housing options for any budget.
12. The Skyline. With hundred-story residential towers going up, Panama City conveys such dynamism that its attraction is felt immediately.
13. Retiree Benefits. For "pensionados" there is a long list of breaks on transportation, food, lodging, entertainment, and health care.
14. Stability and Infrastructure. Panama is now a solid country, and the United States will not let it be otherwise. Anything that could threaten the Canal guarantees immediate US intervention.Panama also has outstanding health care, as do Costa Rica and Colombia, at very enticing prices
15. Attractive Development and Amenities * . Ambitious resort and residential projects pave the way for more upscale developments and higher demand for land, just by showing how it's done.
16. Familes. Suddenly, suburbia has arrived around Panama City, with Balboa and Costa de l'Este, not to mention fine international schools. Employees of the US embassy, of multinationals with subsidiaries in Panama, and those who have found a way to make a living internationally are flocking into these areas.
17. The Adventure. Being an expatriate has its challenges - that is certain - but it is more fun to be challenged and learning every day in a whole new environment. You meet people from everywhere, you're part of a small nation that is really on the move, learning a new language. It's not always easy, but it's exciting.
17 Reasons Americans Come to Panama
by Joquin Ives Brant
