Move to Panama is an excellent country for expats and retirees to live in, making it a top choice among immigrants and working professionals from across the world. This country has a lot to offer, with a diverse landscape that includes exotic tropical rainforests, breathtaking mountain ranges, spectacular beaches, a modern capital city, an active nightlife, world class resorts and quiet getaways.
Low Cost of Living
Panama City is one of the cheapest capital cities in the world to live in. 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.
Panama has tropical weather, with breezes off the Pacific that makes the climate pleasant. The average temperature is 75 F in the mornings and 86 F in the afternoons. April to September is rainy season. There is no need to use heating system.
Medical care in Panama is of good quality. Public hospitals and private clinics are available in Panama. However, medical services may vary greatly depending on where you go. Panama City has the best medical facilities and physicians. The doctors in Panama are usually well trained and speak English. In Panama City a doctor’s visit costs $50 or less. Local Panama health insurance can cost $100 per month or less.
Tap water is drinkable in Panama. However, most expats would want to start with bottled water.
Logistically Ideal Location
When moving to Panama, it’s important to examine Panama’s location and how it will relate to your business or personal life. It may seem far away but Panama is actually a world-class multinational transportation hub, and relatively close to most key countries and cities in the America’s. Panama City is a 2-hour flight from Miami, a 5-hour flight to New York, a 7-hour flight to Los Angeles, and a mere 1-2 hours from Colombia, Mexico, and key Caribbean commercial hubs. Panama splits the year between Eastern and Central US time, making business in these time zones much easier for international clients.
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.