Last week, I began a countdown of the top four places to retire in Latin America in 2024, and today, we come to the top two…
#2: Panama, A Retirement And Business Haven With Pacific And Caribbean Coastlines
Panama could arguably be called the world’s best offshore haven. There is no doubt that Panama has serious advantages for those looking for a country with a cheaper standard of living than the United States and Europe.
It’s also blessed with beautiful islands, ample coastline beaches, mountain retreats, and colonial towns.
Even before the Panama Canal was built, everyone wanted a piece of the golden pie. It was as if this little country’s growth was strangely predicted, pushing the Spanish, later the French, and then the Americans to dwell and build here.
It was the Canal, though, that really pushed Panama onto the global stage.
The country’s strategic geographic position, and the significance of the Panama Canal, mean this destination is an important point on the world map. In short, Panama’s economy has always been strong especially now due to the canal and the massive amounts of wealth that move through it (and earn Panama revenue).
Panama City is the banking and financial hub of the entire region, and here, you can expect every First World amenity you can imagine. Panama City is choc-a-block with U.S.-style shopping malls, mega-grocery stores, wine shops, sushi bars, five-star restaurants, nightclubs, casinos, art galleries, and 12-screen movie theaters showing first-run movies in English.
Wi-Fi is world-class, the water is drinkable straight from the tap, and utilities are relatively reliable. The doctors and many medical facilities are top-notch.
And once you get beyond the capital, Panama is a natural wonderland…
Get out of hectic Panama City, you’ll discover beautiful tropical islands fringed with white sand and coconut palms… and mountain retreats where howler monkeys wake you up in the morning and migrating songbirds put you to sleep at night.
For such a small country, Panama packs a punch in terms of the diversity of lifestyles available. City or country? Beach or mountains? Modern or rustic? There are as many lifestyle options as mangos in the markets in this country.
Panama is Central America’s southernmost point, and, because of a bend in the isthmus, it is oriented more east-west than north-south. It’s only 50 miles from top to bottom at its narrowest point but stretches about 500 miles from east to west. Plains border both coasts, rising upward to the country’s interior and central mountain ranges. Almost half the country is covered with forest, and about one-quarter of that is protected in preserves.
In addition to forest, Panama has more than 2,500 miles of coastline and some 1,500 islands, many uninhabited. There are breathtaking beachfronts still undeveloped and almost deserted in some parts of the country. You can enjoy white-sand beaches, palm trees, soothing breezes, and colorful sunsets all by yourself if you want. Or, if you prefer, you can party until the wee hours with the surfers you’ll meet on many of the beaches.
Largely as a result of its crossroads positioning, but also thanks to its reputation worldwide as a top retirement, offshore, and banking haven, Panama is one of the fastest-growing countries in the world, and the fastest-growing market in the region.
#1: Mexico, Accessible, Affordable, And Familiar… Why Go Farther?
Mexico is the most accessible country in the region from the United States and Canada and it offers lots of options and opportunity for the expat.
This is a big, extraordinarily diverse country that offers two long coasts, mountains, and colonial cities… not to mention Aztec and Mayan ruins, jungle, rain forest, rivers, and lakes.
Plus, being in North America, this country is home to many American franchises, from McDonalds to Pet Depot and Walmart to Starbucks.
Almost anything you buy in the States is also available in Mexico, though ease of availability depends on your location (rural and remote areas would offer fewer franchises and order fewer imports).
For all these reasons Mexico is home to the biggest established population of American expats in the world.
Ajijic and Chapala are two of the world’s biggest established communities of North American retirees overseas (though these aren’t our top recommendations in the country).
Puerto Vallarta is one of the most affordable turnkey retirement havens on the Pacific Ocean. Here, you could enjoy all the comforts of home at a fraction of the cost (despite the well-established expat community).
The silver mines in Mexico’s central highlands provided the incredible wealth that impelled Spain to world prominence in the 16th century and created Guanajuato, the crown jewel of Mexico’s colonial cities.
Along with Guanajuato and Puerto Vallarta we recommend the Bahia de Navidad and San Miguel de Allende.
Happy trails,
Kat Kalashian
Editor, LIOS Confidential
