If you view Panama as a place to retire, then this article is for you. Here you will find the benefits of retiring in Panama as well as the reasons why this country may not be suitable for some people. Panama is currently home to thousands of American and European expats and continues to gain a steady influx of tourists and retirees. Read on to find out why Panama has become the second home of many Americans, and learn why some people just go there on vacation.
· Low cost of living – People who have moved to Panama love the fact that this is a place where the cost of living is very cheap. The couple can dine at a Panamanian restaurant for less than $ 8, including drinks. You can also get health insurance for $ 60 a month. Panama is a place where essentials and health care are very inexpensive; thus, people who have moved to this country feel a more comfortable life. Expots are also eligible to apply for the Retirement Retirement Program, which can give them huge discounts on many things, including food and airfare. Pension funds can be stretched to the fullest in Panama so that one can live well and afford luxuries.
· World-class healthcare – Panama is well known for its medical tourism. People from all over the world go to Panama for high standard but inexpensive medical procedures. Panama has many modern and contemporary hospitals that are comparable to American, Canadian and European. Many Panamanian physicians are also graduates of American universities. Therefore, healthcare in Panama has excellent quality that can match medical in the US and Canada.
· Beautiful and quiet atmosphere – Panama boasts attractive tourist destinations and residential villages that are beautiful and soothing. Choose whether you want to stay in a cool mountain range, be close to the beach or experience city life. Panama offers really beautiful scenery and lots of outdoor activities. Whether you want to go hiking, swimming, bird watching or rafting on the river, Panama offers a relaxed atmosphere that can relieve stress.
· The economy boom – Panama is a very financially stable country, which receives most of its income from the Panama Canal. According to Wikipedia, Panama City continues to experience economic growth due to the constant expansion of the Panama Canal, which greatly contributes to trade and industry. Panama derives most of its profits from banking, trade and tourism. Expanding roads, improving the airport, widening the Panama Canal and many other infrastructure and development projects are planned this year and for years to come.
· A safe place to live – Panamanians, as a rule, peacefully love people who are accustomed to lead a quiet life. The crime rate in Panama is low as many citizens have jobs.
· Tropical weather – It can be either an advantage or a disadvantage depending on your needs. The climate in Panama is tropical, so expect a lot of sun and rain. The summer months can be uncomfortably hot and humid, and other parts of the year rainy. However, in Panama there is one place where the weather is much cooler and this place is known as Panama Boquete. Because of its spring climate year-round, many Americans began living in Bokeh.
· Undisciplined traffic system – Panama is not very orderly when it comes to how its rules and traffic rules are followed. Red theft doesn’t always mean a stop, as well as a host of parking and traffic laws. It may take a while to get used to this “madness”, especially when coming from countries with well-regulated traffic.
· Cultural differences – Panama is a Spanish-speaking country that has its own unique culture. While Panamanians are very friendly people, they don’t respond very well to criticism and aggressive demands, especially if you’re English-speaking. It would be a plus to learn more about Panamanian culture and accept it so that you can interact well with its people.
Retirement planning is very necessary, especially if you are planning to move to Panama. Let the above pros and cons help you decide if Panama is right for you. While other articles only highlight the benefits of retirement in Panama, identifying the disadvantages is also important. Take your time and plan your retirement carefully. Plan a tour of Panama to see what life is like in Panama. Life in Panama has both pros and cons, like all other things.