UK’s Telegraph published an article this week entitled “Future Looks Bright for Panama”. The article, written by a British ex-pat, cites the fact that “Panama has a slice of everything and something for everyone”. Among the benefits of Panama: the climate, the economy, and significant, if not exponential growth.
Panama has become increasingly popular with expats and retirees. The country is appealing based on the stability that has been achieved since Manuel Noriega was removed from power in 1989. The country has been built on a solid infrastructure and stable economy. Panama has a conservative banking industry, and there is wide use of the US dollar, to which the balboa is pegged.
Panama lies outside of the paths of hurricanes, and offers flora and fauna for those that appreciate the outdoors. For those that desire the country’s metropolitan aspects, there are skyscrapers that draw comparisons to the Manhattan skyline. Panama recently elected a pro-business government, and many international companies are moving to the area.
There are a growing number of foreign investors attracted to Panama. Property taxes are waived for 20 years for investors, earnings are not taxed, and many properties have ocean access. Many celebrities are moving to areas like Casco Viejo, Bocas del Toro and the Azuero Peninsula. Panama’s international airport has flights to over 40 countries.
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