panama economy Archives | Panama Relocation Tours

Last Updated Apr 28, 2020 - by Jackie Lange

WEBINAR: Panama’s Future After Covid-19

Last week, Jose Manuel Bern, one of Panama’s largest developers, did a webinar to give some insights in to what Panama’s economy and lifestyle will look like after the Covid-19 virus.

WATCH THE WEBINAR HERE

Panama will come out of the pandemic much better than other countries because it has many different sources of income and very low debt.

Even though Panama’s borders are still closed and we’re still in a quarantine, ships are going through the Panama Canal every day. Many businesses are still operating in the second largest free trade zone in the world, in Colon Panama. Panama has the largest ship registry in the world. And Panama is still exporting bananas, coconuts, copper, and more.

Because of Panama’s location, it is a distribution hub to the world. This has and will continue to attract many multinational companies to Panama.

Panama does not have a central bank. It cannot print money. Panama must sell a product or a service (like going through the Canal) to make money and they are still doing a very good job of that, even during the pandemic. The IMF (International Monetary Fund) expects Panama to have only a 2% shrinkage in GDP in 2020, the lowest in Latin America.

The same things that attracted people to relocate to Panama before pandemic will attract people even more to Panama after the pandemic. The most important factors are:

* Lower cost of living
* Better weather
* Great infrastructure
* Stable government
* Strong diversified economy

But now, as you will hear on the webinar, Panama is planning even more ways to attract you to relocate to Panama. LISTEN TO THE WEBINAR HERE

Yes, you can live BETTER for less in Panama!

We’ll let you know as soon as Panama’s borders open and we can start doing Panama Relocation Tours again… hopefully soon!

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…]