panama economy Archives | Panama Relocation Tours

Last Updated Jun 25, 2019 - by Jackie Lange

Bob Adams Report on Panama

My good friend Bob Adams just published his 2019 Panama Report. It’s a lengthy 20-page report filled with graphs which focuses on the STABILITY of the Panama government and economy. Bob says, “After 52 years of working and/or living in more than 40 nations around the world, I know that one of the things most important to expatriate residents is summed up in one word –stability. Panama is a stable nation.”

Bob has lived in Panama more than 15 years. He’s consistently monitoring the health of the Panama economy. You can read his other reports and get updates about future reports at www.RetirementWave.com

Sometimes Bob Adams is a speaker during a Panama Relocation Tour.

CLICK ON THE LINK BELOW TO READ BOB’S 2019 PANAMA REPORT

Report from Panama – June 2019

Bob’s 2019 Panama report illustrates why Panama is the best place to relocate to and retire in Panama.

Last Updated Jun 21, 2019 - by Jackie Lange

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.

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. Home ownership 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.

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! [Read more…]

Last Updated Dec 27, 2018 - by Panama Relocation Tours

The Key to Panama’s Success: Free Enterprise

My good friend Bob Adams, who has lived in Panama more than 12 years, was published in Barron’s magazine again with this story about what makes Panama such an amazing success. I was lucky to get an advance copy of the story before it came out in print. Read it here..(click on the link below)

THE KEY TO PANAMA’S SUCCESS: FREE ENTERPRISE

A lot of countries have beautiful beaches, mountain vistas and affordable living. But few countries can match the strong economy of Panama. Few countries have a government that encourages true free enterprise. A strong economy fueled by free enterprise should be important considerations when deciding where to relocate to.

The real story of Panama in the 21st century is a story of a rapidly developing economy that has nothing to do with offshore anything. For more than a decade, Panama’s GDP has averaged annual growth nearing 8%, with a few double-digit years. Even at the depth of the financial crisis in 2009, it booked a respectable 4% GDP growth, while nearly everyone else in the hemisphere booked red ink.

Foreign direct investment last year rose 17% from the record set in 2014, which was more than 9% above the record set in 2013. In 2000, per-capita GDP was similar to that in neighboring Costa Rica and Colombia, though well behind the two big Latin American emerging markets, Brazil and Mexico. As of the end of 2015, Panama’s per-capita GDP was 24% higher than Mexico’s, 39% higher than Brazil’s, 41% higher than Costa Rica’s, and 57% higher than Colombia’s.

Additionally, the massive improvement in transportation, logistics, and communications infrastructure has made Panama a leader in Latin America in those sectors.

WHY PANAMA? What changed? Can we learn something from this? The nation and its canal have been there for more than a century. Consider three lessons.

Panama’s economy is based on free enterprise. The government and the people of Panama have a commitment to free enterprise that is rare in Latin America. In the 2014 presidential elections, two candidates with a socialist perspective took part in the televised debates and ran campaigns, but barely collected 1% of the vote between them. Due to the emphasis on private enterprise, the government has the income to provide benefits to the poor that can exceed those of Latin American nations that claim to be socialist. You are not likely to meet a Panamanian who would prefer to live in Venezuela.

The immigration issue has been dealt with intelligently in Panama. When Panama’s dramatic economic growth began a decade ago, Panama’s small population and inadequate public-education system left the nation in a bad spot. The challenge was to handle growth while improving the skills of their people.

A big part of Panama’s answer was to use relocation instead of immigration. Relocators can be residents and workers, but not citizens.

Panamanian relocators include American retirees, but also other Latin Americans, especially from Colombia and Venezuela. Recently, they have been joined by a growing number of Europeans. Last year, Italians and the Spanish receiving residency visas and work permits both outnumbered Americans.

By taking citizenship out of the equation, Panama was able to absorb large numbers of relocators without the tension and rioting seen in Europe or the hate language too common in the U.S. today.

Panama’s political leadership has a common goal. I have been a relocator in Panama through two five-year presidential terms and I am in the middle of a third presidential term. Each president has had his own particular style, issues, and policies. Each represents a different political party and they are not the best of friends.

Debate among the leaders can be very partisan, but they have one important thing in common: When it comes to economic growth, they pass the ball, they don’t drop it. All the major projects supporting economic development have continued under each president. Each makes some changes here and there, and they may agree on little else, but they have proven their dedication to continuing economic growth to Panamanians and the international investment community.

READ THE REST OF THE ARTICLE HERE

If you’re thinking about retiring overseas, you seriously need to come check out Panama. Come see how you can live BETTER for LESS in Panama. Join us for a Panama Relocation Tour.

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