For coronavirus (COVID-19) travel information, see our FAQ.

How Panama Compares to Other Latin American Countries

When I was first looking for a place to relocate to overseas, I was most concerned with the weather.  I wanted to live in a place where I’d never need air conditioning or a heater again.  I needed to live in a place where I could have my windows open and get fresh air every day.  A lower utility bill was a big plus too.  Of course, I found that in Panama.

However, when I was investigating and visiting other countries to relocate to, I discovered that the stability of the government and the strength of the economy is just as, if not more, important.  In some Latin American countries, wages are so low that it creates problems like crime.

One really important measure of a nation’s stability is the wealth of its population.  According to the latest International Monetary Fund estimates, Panama has the 11th largest economy in the LatinoAmerican region.

IMF income by country

However total GDP is not the biggest factor to look for. GDP per capita is more important. Panama’s population is really small compared to the other ten countries in the list above. Yet Panama’s income per capita is the highest at $28,810, higher even than Chile.

Panama’s inflation is very low at about 1.5%.  Wages are high.  Homeownership rates are way up.  Unemployment is extremely low.   All these things add up to happy people in Panama!

This #1 spot is likely to be reinforced in 2019 as the IMF predicts a 6-7% GDP growth this year for Panama.  A picture tells a thousand words!  Look at the chart below to see how Panama’s economy compares with other Latin American countries.

imf gdp per Capita

You can see why Panama is the ideal place to relocate to!  Panama has great weather, affordable living, a stable government, and the strongest GDP per capita of all Latin American countries.  Panama also has the most friendly and welcoming people!

The IMF, International Monetary Fund, published the latest GDP information for Panama.

Panama wants you to relocate to Panama! 

Panama rolls out the red carpet by making it fast, easy and affordable to get permanent residency.  To qualify, you only need to prove a lifetime income of at least $1000USD per month for one person plus $250 for each dependent.

Retirees in Panama enjoy special discounts like:

  • 50% off on recreation and entertainment such as movies, theaters, sports, etc.
  • 50% off hotels Monday through Thursday (30% off on weekends)
  • 50% off passports
  • 30% off public transportation like buses, trains, and boats
  • 25% off airfare
  • 25% off restaurants (15% off fast food)
  • 25% off electrical, telephone, and water service
  • 20% off doctors and specialists
  • 20% off prosthetics and other personal assistance devices
  • 15% off hospitals and private clinics
  • 15% off dental and optometry services
  • 10% off prescription medications
  • tax-free importation of household goods, up to $10,000

Come see how you can live better for less in Panama.  Join us for a 6-day 7-night all-inclusive Panama Relocation Tour.

Or, get the information you need to know to Retire in Panama FASTER with the Online Panama Relocation Guide. It includes all the same information you’d get on a tour plus you’ll get all our contacts for reliable immigration lawyers, honest real estate agents, Private Tour Guides, and much more. You could be living in paradise next month!

An Amazing Adventure Is Waiting For You!!

Jackie Lange

Jackie Lange is the founder of Panama Relocation Tours and lives in the highlands of Boquete Panama. She has helped thousands of people relocate to Panama.

Reader Interactions

Comments

  1. Linda Rutherford says

    how can I get the book, how to retire in Panama?

  2. Dave Ruggles says

    The main thing I didn’t like about Costa Rica is the roads, they’re in terrible shape. How does the infrastructure in Panama compare to the rest of Latin America?

    • Jackie Lange says

      The roads are MUCH better in Panama than they are in Costa Rica.

Trackbacks

  1. […] post How Panama Compares to Other Latin American Countries appeared first on Panama Relocation […]

Leave a Reply