Long gone are the days when Panama served as a overseas banking safe haven for drug dealers and other unsavory criminals. Manuel Noriega is long gone and Operation Just Cause, which was the U.S. invasion of Panama under President George H.W. Bush is now more than 20 years past. In those 20 years, Panama has come a long way and is now both the biggest and fastest growing economy in Central America. It has a burgeoning international banking and business sector, is successfully overseeing a profitable transformation of the Panama Canal, and is attracting large numbers of foreign expats.
Panama is consistently named on of the best places for expatriates to retire to for the biggest bang for their buck. On the narrow isthmus that connects North and South America, Panama has two coastlines, one facing the huge, deep waters of the Pacific, and the other facing the more placid, serene waters of the Caribbean. This makes it easy to find an affordable beachfront condo within close distance of Panama City. There are tons of activities to choose from, ranging from scuba diving to deep sea fishing, and enough cultural events to stack your schedule full. Panama and Panama City itself are incredibly developed, with new infrastructure projects being started constantly. The revenues from the Panama Canal and its export driven economy have given Panama the cash it needs to develop.
On top of this, there are a lot of different benefits seniors retiring to Panama can cash in on. There are discounts offered on entertainment venues, airline tickets, restaurants, prescription medicine, and even health care. Speaking of health care, Panama has many private health care options to choose from that have state of the art equipment and Western trained doctors for a fraction of the price that they cost in the United States. Prescription drugs and health insurance are also both more available and inexpensive than they are in the U.S.
For more information on living in Panama and other exotic locations, visit the Beachfront Property Guide.