Sunny and affordable country are some good reason to retire in Panama. Retiring in Panama has many benefits, and opportunities, no matter what your budget or lifestyle choice is.
Panama, with a low cost of living, good health care, low language barrier and modern infrastructure, has become one of the top retirement destinations.
Low Cost of Living
Panama has a very low cost of living. The cost of living in Panama is about 24% lower than in the U.S., a three course meal for two at a mid-range restaurant will cost you between $25-50. Panama is considered to be an international banking center. It's possible to find banks in Panama from all over the world, and there are many ATMs providing easy access to funds.
Good and Affordable Health Care
Health care in Panama is of an international standard. Panama City is home to Punta Pacifica hospital, the only hospital in Latin America affiliated with and managed by Johns Hopkins International. Most doctors in the capital city speak fluent English. In Panama City a doctor’s visit costs $50 or less. Local Panama health insurance can cost $100 per month or less.
Many retirees find the cooler climates (65-75F, 18-24C) in the Panama highlands of Boquete and El Valle to be ideal. The rest of the country is considerably hotter, meaning that if you’re into the tropical heat and the beach lifestyle, most of Panama will suite you well.
The infrastructure in Panama is of a high standard. Panama City is the most developed city in the region. Panama's system of roads and public transportation provides great travel options, and the roads are constantly being expanded and improved. The Internet, cable television and phone services offered in Panama are all good and there are no issues with drinkable water.
One of the biggest advantages of retiring in Panama, ironically, is the ease and convenience by which you can travel in and out of it. With over 100 direct flights from Panama City, and a location that’s square in the center of the Americas, Panama is the perfect travel hub. It’s a 5-hour flight to New York, 2.5-hour flight to Miami, and an easy jumping point to places like Colombia, Ecuador, and the Caribbean islands.