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Panama, The Best Country to Retire in 2022

A country with a long list of advantage that make your personal economy and experiences the best At the beginning of 2022, International Living - (IL) Magazine - once again positioned Panama on its list of

A country with a long list of advantage that make your personal economy and experiences the best

At the beginning of 2022, International Living – (IL) Magazine – once again positioned Panama on its list of the best places in the world to retire in the current year. This publication provides guidance to make rapid analysis on which destinations stand out to live a healthier and happier life, investing less money and obtaining more advantages and facilities.

What has recent research revealed by the “Global Retirement Index”? 

The benefits and overall value that Panama offers are hard to beat. This study highlights the economic and professional advantages in the Panamanian territory. 

The Geographic Position and Climate of Panama

The country is perfectly located between North and South America, on a narrow isthmus between the Pacific and the Caribbean. It is only a three hours flight from Miami.

  • It is true that it is a hot and tropical country. Still, it is completely out of reach of the “Hurricane Belt”. Although it rains a lot during the year it is one of the sunniest expat destinations in the region, especially when you take into account where you choose finally to settle down.
  • Panama is one of only three carbon-negative countries in the world, taking environmental protection very seriously. That is why those who choose this country as their home to retire, will be able to enjoy the rivers and beaches, to see the sky with a very intense blue in contrast to the dark green foliage typical of the jungle. 
  • It also has the Hub of the Americas, the busiest flight center in the region, where people can easily fly to and from the United States and Canada, as well as to and from major destinations in Europe and the rest of the Americas.
  • Another great economic advantage is that Panama is the only country that for 0.35 cents you can travel on the only Metro Line system in Central America that runs through the entire city in 45 minutes. It also highlighted how close the Bay of Panama is, as well as recreational and historical places in the city, where its inhabitants can exercise safely.
  • International Living Magazine 2022, also took into account the fact that within the country it is also easy to travel by car if you want to go to restaurants close to the beach or try quality meat cuts in places located in mountain towns like Cerro Azul, Sora and El Valle.
  • The most popular destination for expatriate retirees on the list is the mountain paradise of Boquete in Chiriqui Province. However, the person who developed this research work, Jessica Ramesch (representative of International Living), emphasized that her favorite place is “Coronado”, a beach community where she invested in a property to move. She shared that this community of expatriates is one of the most active in the country. Also, the fact of how easy it is for her – a single woman – to feel secure in terms of medical care. How easy it is to move when you do not have your vehicle or are not in physical condition to drive. 

Categories for the Compilation of the Annual Global Retirement Index

Each year, this editorial network with collaborators, correspondents around the world expands to investigate and provide information and recommendations on this field dedicated to the ideal destinations for retirement.

In the list of 25 countries chosen to research and highlight the top ten rated countries on this list globally, the following categories are ranked and rated:

Housing: analyzes the value of real estate, housing prices where expatriates would like to live, annual tax to pay, other restrictions.

Benefits and discounts: that retirees can have in that country.

Visas and Residencies: facilities in obtaining permanent residence and tax issues within the country with income obtained from abroad.

Assembly/Entertainment: feel at home, make friends and be able to go out.

Development: quality services of electricity, communication, roads, etc.

Air-conditioned: destination to escape from extreme weather conditions.

Health Care: reliable and well-located medical care, good technology for surgeries, qualified professionals, insurance, among others.

Governance: personal freedom in your new home, stable environment, reduced bureaucracy, and efficient banking system.

Opportunity: to work or start a business if desired despite being retired.

Cost of Living: being an affordable country to retire. Get advice from experts in budgeting lifestyles.

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