If you’re considering retirement abroad, you need information, and you need lots of it. But more than that, you need guidance on how to interpret that information. That’s what we’re here for, and that’s why we’ve compiled the 2022 Annual Global Retirement Index: to help you with the exciting business of choosing where in the world will best suit your needs.

When it was first conceived, our Retirement Index was our special way of coping with an embarrassment of riches. At that stage, IL had already spent over a decade exploring all manner of dream locales. The result was a huge and exciting variety of choice and opportunity. Fast-forward to 2022.

More than three decades have gone by, during which our scouts have scoured every corner of the globe many times over. The result is a much bigger and ever-growing selection of outstanding destinations where you can live a healthier and happier life, spend a lot less money, and get a lot more.

But how do you choose?

The Retirement Index is the most comprehensive and in-depth survey of its kind. It’s the best way we know of to sift through the wealth of opportunity the world offers, bring some order, and help you pinpoint the best destination for you.

Our index is informed by hundreds of opinions and real-life experiences—information—compiled by our trusted sources in the best retirement destinations across the globe. We think of it as a tool for you, our reader. A way for you to quickly compare and contrast your best options and begin to narrow down your choices.

We have our people out there pounding the pavement in attractive overseas communities we know you should consider. They’re reporting back to us with insights, and information about what’s really going on. They’re not beholden to relocation service providers or real estate agents or tourism boards or economic development organizations. They work for you.

In no way is our Global Retirement Index meant to be a scientific output. It’s designed to be a useful tool for people, constructed out of real-world, on-the-ground information interpreted through a lens of well-informed experience and opinion.

Our sources are living in the places where they’re gathering their intelligence. And we trust their judgment. If they say the healthcare is good, or that a meal for two in a nice restaurant costs $20, then we believe them.

Our intention with this index is that it be genuinely useful. We’re not looking for random input from random people around the world—you can get that with a simple internet search. Instead, we’re in the business of providing sound recommendations about a refreshingly limited number of options.

Beyond data—it offers, more importantly, information, opinions, perspective, and guidance.

What has their research revealed about the best retirement havens in 2022?

1. Panama

2. Costa Rica

3. Mexico

4. Portugal

5. Colombia

6. Ecuador

7. France

8. Malta

9. Spain

10. Uruguay

BEST PLACES TO RETIRE, NUMBER ONE: PANAMÁ

Why Panama?

Some say the only constant in life is change. But after more than 15 years in Panama, I’ve found that some of the best things in life remain the same. It’s no surprise to me that this tiny powerhouse has—once again—taken the number one spot in International Living’s Annual Global Retirement Index.

We’ve been here before…and with good reason.

That’s because, when it comes to overall benefits and value, Panama is very tough to beat. It’s what you get when myriad pros come together to create the perfect tropical storm. All any doubter has to do is make a list.

Start with Panama’s geographical position and climate. Just a three-hour flight from Miami, it’s perfectly positioned between North and South America, on a narrow isthmus between the Pacific and the Caribbean.

It’s warm and tropical, but completely outside the treacherous hurricane belt. Though it’s a high-humidity, high-rain destination…especially in the mountains and on its Caribbean coast…it’s also one of the region’s sunniest expat destinations. My days here are balmy and pleasant, characterized by ocean breezes and light, bright mornings.

The cornflower-blue skies and deep-green jungle foliage are the stuff of #nofilter posts. At this latitude, both the Pacific and Caribbean defy description, with countless hues from turquoise and pale jade to brilliant, sparkling sapphire. (And as one of only three carbon-negative countries in the world, Panama is serious about protecting this environment.)

The mild climate and incredible biodiversity are just the tip of the iceberg. Panama’s shape and strategic position also made it the obvious choice for its now world-famous canal. That in turn led to major infrastructure works and the development of the region’s busiest flight hub.

People who’ve never been here tend to assume it’s very Third World, but I have reliable power, water that I can drink straight from the tap, high-speed internet, and excellent cell phone service. For 35 cents, I can hop on Central America’s only metro line and zip downtown in 10 minutes.

The city center is framed by a gleaming skyline and the sparkling Panama Bay. Residents and tourists come here to work out, skate, ride bikes, have picnics, and so much more. A vast, verdant park and recreation area stretches from here to the romantic historic quarter known as Casco Viejo.

At the other end of the city is Tocumen International Airport, known as the “Hub of the Americas.” Today, Panama is one of the easiest retirement destinations you can travel to from the U.S. or Canada. There are direct flights to Panama from all over the U.S., as well as several cities in Canada and Europe.

Travel within the country is easy, too. I love exploring, and from my home in Panama City I have so many options it’s hard to keep track of them all. In just 20 minutes, I can drive to Veracruz for a boozy seafood lunch on the beach. Or I can hop a 30-minute ferry to Taboga Island, also known as the “Island of Flowers.”

The cool mountain towns of Cerro Azul, Sorá, and El Valle are a one- to two-hour drive from the city. The unspoiled Caribbean beaches of Portobelo are about two hours away by car. Or I can fly to my favorite Caribbean archipelago in an hour.

The most popular destination for expat retirees is the lush highland haven of Boquete. It’s almost as far as you can get from the city, about six hours by car. I usually fly, as it’s just an hour to the domestic airport in the city of David. From there, I can rent a car and be in Boquete… sipping award-winning coffee…just 40 minutes later.

My favorite spot right now is Coronado, a happening beach town just an hour’s drive from the capital. In fact, I like it so much I bought an apartment there, and am packing up to move as we speak. Coronado is home to one of Panama’s most active and welcoming expat communities. I’m not even there yet, and I’m already getting invites to potlucks and happy hours.

I also plan to join in on fitness activities like yoga and water aerobics, and who knows what else. There’s tennis, golf, pickleball…you name it, someone’s probably doing it.

No matter where you live in Panama, you’re likely to be no more than an hour away from excellent hospitals. In Coronado I’ll have access to the San Fernando facility. It’s a satellite of the San Fernando in Panama City—a JCI-accredited hospital affiliated with the Miami Children’s Hospital, Baptist Health International of Miami, and Tulane University Health Services Center and Hospital Clinic.

Panamanian doctors make me feel truly cared for. They don’t rush through appointments, and they’ll often give you their cell phone number, so you have direct access to them while you’re going through treatment or recovery. In fact, I’d say Panamanians in general are the best part of living in Panama. I have made so many wonderful friends here. People who are welcoming and fun and have a wide range of interests, so the conversation is always scintillating.

Panama may not be perfect—no country is—but I wouldn’t trade it for anything. As a single woman I feel safe and free to live my life here, whether I’m going out to dinner and Ubering home late at night or driving cross-country to visit friends. Perhaps that’s because this is truly a land of opportunity, home to thousands of hard-working, upwardly mobile locals and immigrants.

There have been a lot of ups and downs over the past couple years—in Panama and all over the world. But this country has a well-deserved reputation as Central America’s powerhouse. And here’s the thing about living in a powerhouse nation: Panama was perfectly poised to weather the financial and health-related storm, with excellent healthcare and a strong economy that was bound to bounce back.

So, these days it’s “back to business” here. The country is busy welcoming tourists, new residents, and new investment, too. And if you’re on your way down, rest assured that Panama is also ready to welcome you.

Retirement Index 2022 Final Scores

Source: https://internationalliving.com/

(Panama City-ANPanama) According to the country report carried out by The Economist Intelligence Unit (EIU), on the political and economic perspectives of Panama, it forecasts that economic growth for 2023 will be 3.8%. and that it is unlikely that the limit of the fiscal deficit of the Gross Domestic Product (GDP) will be met.

According to the report, the government will continue to pursue fiscal consolidation efforts following the pandemic-related recession and the targets set in the Fiscal Social Responsibility Law that limit the deficit to 3% of GDP.

According to the report, although the agreement with Minera Panamá will grant annual royalties of at least US$375 million in the medium term, this will not be enough to achieve the required fiscal deficit limit, so cuts will have to be made in public investment, which that would not be acceptable to the government in an electoral period.

He adds that another element that foresees that the deficit goal will not be met is the low tax rates that generate a rather weak income base. The report maintains that efforts to address low tax collection do not appear to be a priority, since President Laurentino Cortizo ruled out increasing tax rates. However, they reckon the government will likely rein in investment spending this year if growth and revenue disappoint, in an effort to meet fiscal targets.

On the other hand, the report indicates that GDP growth dynamics will normalize as the upturn in the pandemic-related recession in Panama fades this year, which will be supported by private consumption and investment. However, it indicates that global events are a strong threat to GDP growth this year.

“The weaker world economic conditions will limit growth in the short and medium term,” says the report, which recognizes that investment will increase as public works projects accelerate; these include the expansion of the Panama City Metro and the construction of the fourth bridge over the Panama Canal.

In view of the global obstacles, we expect, the report indicates, that economic growth will weaken to 3.8% below potential in 2023, from 10.8% registered in 2022.

On the other hand, regarding unemployment, the report indicates that it fell back below 10% in April 2022, but will remain above the 2015-19 average of 6%, which partly reflects the scars related to the pandemic in the productive sector, which means that private consumption growth will be weaker than in the past.

The launch marks the 56th market that Starlink is now available in. Starlink has recently been expanding its footprint in the Central and South American region, launching in Haiti, Ecuador, and El Salvador through March and April.

A quick look at Starlink’s Availability Map indicates that the next shoes to drop are the Bahamas, Costa Rica, and Guatemala. The rest of Central and South America is likely going live sometime in 2024.

Meanwhile, customers located in Panama can take advantage of a temporary hardware discount, which is available until June 1st, 2023.

The Standard antenna can currently be purchased for US$250 instead of the US$538 Starlink plans to charge going forward. And here’s what Starlink charges for its consumer plans (you can also find them in our global price list):

• US$52/month for Residential
• US$64/month for Regional Roam
• US$215/month for Global Roam
• US$268/month for Mobile Priority (50GB version)

The launch in Panama has long been anticipated. Its Availability Map already hinted at a Q1 2023 launch for months.

Back in December 2022, Panama’s Autoridad Nacional de los Servicios Públicos (ASEP) had already granted Starlink a license to operate in the country.

“As of today, the SpaceX company Starlink begins operations in Panama. This innovative technology contributes to the multiple actions that our government promotes to expand connectivity and bring high-speed satellite internet to different areas of the country,” said Panamanian President Laurentino Cortizo in the above-mentioned tweet.

While Panama, with its ~ 4.3 million citizen, represents a somewhat limited opportunity, its lackluster internet infrastructure will certainly lead to widespread adoption.

Fiber internet access in the country oftentimes costs more than US$100 per month. Couple that with the nation’s comparatively high wealth compared its regional peers (e.g., GDP per capita of US$14.6k vs US$1.8k in Haiti) and there’s some money to be made.

The launch in Panama also came on the heels of aggressive customer acquisition initiatives. Starlink has greatly reduced prices in Europe, began selling at Home Depot and Best Buy, and introduced hefty hardware discounts in the UK or Canada.

All of those initiatives have enabled Starlink to surpass 1.5 million subscribers, making it the world’s most popular satellite-based internet provider. Sky may, after all, not even be the limit anymore.

In the last months of 2019 Panama received multiple nominations as one of the destinations that should be known during the year that has just begun.

Places like Bocas del Toro, Pedasí, Portobelo, Casco Viejo and the interoceanic route stand out as the landmarks of the range of destinations offered by the country.

To close the circle, Panama was also recognized as one of the most attractive countries to make tourism investments during 2019, occupying the position number 19 of 55, within the list prepared by the Foreign Direct Investment (FDI) or FDI Intelligence division of the British newspaper Financial Time.

The list is headed by Thailand, followed by Macao and Portugal, in third position.

Although the list shows 5 Caribbean destinations before Panama, such as the Dominican Republic, Aruba, Antigua and Barbuda and Dominica, the country is the only destination in Latin America that appears in the report prepared by the British publication.

To create a short list that classifies the 2019/20 Tourism Places of the Future, the fDi Intelligence division of the Financial Times collected data using the online specialized tools of FDI Benchmark and fDi Markets, as well as other sources. Data was collected for 51 locations.

The locations were determined using the following parameters: countries with at least 14% of GDP derived from tourism revenue; and / or countries with at least 10% of all FDI projects in the tourism group.

In Panama it is estimated that tourism and the air sector contribute about 12% of gross domestic product.

According to the International Air Transport Association (IATA), foreign tourists who arrived by air in Panama, and who acquired goods and service in the local economy, generated 182 thousand jobs, totaling 238 thousand jobs supported by air transport and Tourism in recent years.

Although in recent years the entry of tourists to the country has remained in red numbers due to the lack of international promotion that was recorded between 2012 and 2016, the amount of currency left by visitors in the country is one of the highest in the region with 4 thousand 605 million in 2018, while in the first 9 months of 2019 the expenditure made by tourists reached 3 thousand 596 million dollars.

New incentives

It is no secret that one of the main shortcomings of Panamanian tourism is the lack of tourist infrastructure. From the most basic as bathrooms for tourists throughout the territory, to the development of tourist products that allow visitors to take advantage of the natural attractions of the country as much as possible.

During the extraordinary sections held last December, the National Assembly extended until December 2025 the tourist incentives contemplated in Law 80 of 2012, but with the modification that these tax prerogatives will also apply to the investment of tourist products, and not only to lodging projects.

Marinas, canopy, museums, theme parks, are some of the tourist products that can benefit from the extension of incentives, as long as the investment is made outside the province of Panama.

Ernesto Orillac, elected president of the Chamber of Tourism of Panama (Camtur), commented that it is positive that the incentives, which were intended to encourage investment in infrastructure projects, also apply to the development of tourism products.

“We need to offer more activities to tourists, and we have the raw material, but we must develop products of good quality and with the conditions that guarantee good service,” said Orillac.

In addition to tax credits, investors who bet on Panamanian tourism will be entitled to non-payment of property taxes on land and improvements, as well as the entry tax for goods and equipment that are not available in the local plaza.


Source: La Prensa

Panama will regain its crown as Latin America’s fastest growing economy this year on a surge in trade through the newly-expanded canal and government investment in other infrastructure projects, the finance minister said.

Central American country will leapfrog the Dominican Republic, growing 5.8 percent in 2017, a year after the $5.3 billion expansion of the canal allowed the passage of larger ships, Dulcidio de la Guardia said in an interview in Buenos Aires.

“We are seeing an acceleration in the economy, product of the Panamanian economy being highly open and very tied to global growth,” de la Guardia said in an interview in Buenos Aires. “The global perspectives are much better this year than last year and that is generating a cascade effect in Panama, increasing the demand for Panamanian services.”

Government levies on the Panama Canal will surge 50 percent this year to $1.6 billion, about 7 percent of fiscal revenue, following the introduction of a new toll structure and a surge in tonnage shipped through the waterway, de la Guardia said. That money will help finance infrastructure projects, including a $1.86 billion metro line to be completed in 2019 and the $800 million expansion of the Tocumen International Airport.

President Donald Trump’s threats to impose more protectionist policies haven’t damped global trade, de la Guardia said. In fact, he saw trade picking up further.

“There has been a lot of rhetoric about the topic, but very few concrete policies,” De la Guardia said of Trump’s trade plans. “We think the cloud over global trade is going to dissipate and that should generate greater volumes of global trade going forward.”

Neither is the involvement of Brazil’s Odebrecht in infrastructure projects acting as a drag on the economy. While the company is accused of bribing officials across Latin America to win contracts, Panama has allowed it to continue with most of its projects.

The government is “following each project very closely” and “assuring that Odebrecht complies with its contract,” de la Guardia said. “First they have to finish what they have started, and secondly reach a deal with the Attorney General’s Office that satisfies the republic of Panama.”

Source: ANPanama 

Panama is a paradise where hundreds of activities and fun ways to meet, and both know tourist spots.

Yachting is one of the favorite attractions of Panamanians and foreigners.

The routes are from the Bay of Panama to Taboga, Contadora, Chapera, Isla del Rey, San Telmo, among other interesting places.

Everything depends on the budget and available to interested parties.

The boats are spacious and ideal for parties on board and enjoy a journey through the seas of Panama.

The range from 3 hours to 8 hours depending on the cost and the package you get.

They range from about $ 500 on up above $ 1,000.

‘Tours’
Rent a yacht is a fashion in the country, but there are also companies that are in charge of service “all inclusive” for comfort.

Most of the islands are visited are virgins, a detail that makes the visit more interesting, because you can enjoy the splendor of nature and the sea breeze.

This attraction definitely breaks the routine and are ideal for a pleasant evening either with friends or family.

An ideal experience for those looking for complete relaxation and tranquility sensations at sea.

Navigating a combination of different elements that will make a trip unforgettable, accompanied by a glass of wine, good food and good music to relax is received.

3 hours is the minimum time they rent a yacht in Panama, either for parties or family or friends walks. This rental includes the pilot of the ship, responsible travel.

Source: Panama America