• About Us
  • Contact Us
  • Privacy Policy
  • Terms
  • Unsubscribe
No Result
View All Result
Live and Invest Overseas
FREE REPORT
BEST PLACES TO RETIRE
*No spam: We will NEVER give your email address to anyone else.
  • HOME
  • COUNTRIES
    • Top Destinations
      • Portugal
      • Panama
      • Belize
      • France
      • Colombia
      • Dominican Republic
      • Thailand
      • Mexico
      • Spain
      • Argentina
    • Browse All Countries
    • Best For
      • Retire Overseas Index
      • Health Care
      • Cost of Living
      • Investing in Real Estate
      • Editor’s Picks For Retirement
      • Establishing Residency
      • Starting an Online Business
      • Single Women
      • Playing Golf
  • BUDGETS
    • Super Cheap ($)
      • Cuenca, Ecuador
      • Chiang Mai, Thailand
      • The Philippines
      • Las Tablas, Panama
      • Granada, Nicaragua
    • Cheap ($$)
      • Algarve, Portugal
      • Medellin, Colombia
      • Boquete, Panama
      • Carcassone, France
      • Buenos Aires, Argentina
    • Affordable ($$$)
      • Abruzzo, Italy
      • Barcelona, Spain
      • Las Terrenas, Dominican Republic
      • Puerto Vallarta, Mexico
      • Costa de Oro, Uruguay
    • Luxury On A Budget ($$$$)
      • Ambergris Caye, Belize
      • Paris, France
      • Panama City Beach Area
  • Real Estate
  • ARCHIVES
    • Living & Retiring Overseas
    • Raising A Family Abroad
    • Foreign Residency & Citizenship
    • Offshore Diversification
    • Our Latest On Coronavirus ⚠️
  • Making Money
    • International Real Estate
    • Banking
    • Employment
    • Investing
  • CONFERENCES
  • BOOKSTORE
Live and Invest Overseas
  • HOME
  • COUNTRIES
    • Top Destinations
      • Portugal
      • Panama
      • Belize
      • France
      • Colombia
      • Dominican Republic
      • Thailand
      • Mexico
      • Spain
      • Argentina
    • Browse All Countries
    • Best For
      • Retire Overseas Index
      • Health Care
      • Cost of Living
      • Investing in Real Estate
      • Editor’s Picks For Retirement
      • Establishing Residency
      • Starting an Online Business
      • Single Women
      • Playing Golf
  • BUDGETS
    • Super Cheap ($)
      • Cuenca, Ecuador
      • Chiang Mai, Thailand
      • The Philippines
      • Las Tablas, Panama
      • Granada, Nicaragua
    • Cheap ($$)
      • Algarve, Portugal
      • Medellin, Colombia
      • Boquete, Panama
      • Carcassone, France
      • Buenos Aires, Argentina
    • Affordable ($$$)
      • Abruzzo, Italy
      • Barcelona, Spain
      • Las Terrenas, Dominican Republic
      • Puerto Vallarta, Mexico
      • Costa de Oro, Uruguay
    • Luxury On A Budget ($$$$)
      • Ambergris Caye, Belize
      • Paris, France
      • Panama City Beach Area
  • Real Estate
  • ARCHIVES
    • Living & Retiring Overseas
    • Raising A Family Abroad
    • Foreign Residency & Citizenship
    • Offshore Diversification
    • Our Latest On Coronavirus ⚠️
  • Making Money
    • International Real Estate
    • Banking
    • Employment
    • Investing
  • CONFERENCES
  • BOOKSTORE
No Result
View All Result
Live and Invest Overseas
No Result
View All Result

Is Panama A Third-World Country? Finding The Truth About Panama

Is Panama A Developing Nation Or A Developed Nation?

Live And Invest Overseas by Live And Invest Overseas
Jan 05, 2021
in Panama
0
Panama City Skyline and Cinta Costera Park, Panama City

Alamy/Ambling Images

211
SHARES
3k
VIEWS
Share on FacebookShare on Twitter

As you consider various countries to live, retire, and invest in you’ll probably hear the phrase, “Third World” bantered about. If Panama is on your shortlist you may have wondered if Panama is a third-world country and whether it is a good choice for you.

Before we review Panama’s statistics and related information, let’s determine exactly what “Third World” means today.

The History of Third-World Countries

Categorizing the world’s countries into three distinct groups began during the Cold War. The separation was based upon war-time politics and economics. First World countries aligned with NATO and included the United States, Canada, Japan, and Western Europe among others. Communist countries such as the Soviet Union, China, Cuba, and their allies fell into the Second World definition. Third World countries were not aligned with NATO nor Communist countries and were considered neutral during the war.

Since the fall of the Soviet Union, these labels no longer apply and the term “third-world country” has taken on a different meaning. Instead of political affiliation, the term now refers to countries that are developing in industry, education, poverty levels, and economic stability.

All of Latin America is often lumped into the third-world category, but each country’s development varies and each should be considered separately based upon its strengths and weaknesses.

According to the World Population Review, third-world countries are commonly defined by:

  • Economic instability
  • High poverty rates
  • The absence of basic necessary human resources, and
  • Non-industrialized or newly industrialized commerce.

Is Panama Considered a Third-World Country?

Panama Canal, Panama
iStock/Marina113

Most people are familiar with Panama because of the famous and prosperous Panama Canal. The toll revenue received from the ships passing through the canal make up a large portion of Panama’s GDP. Due to other important business sectors include banking, commerce, and tourism, Panama is considered a World Bank high-income country.

Panama currently ranks 57th in the Human Development Index (HDI) as a country with very high human development. However, due to some educational disparities, the country’s living conditions can be difficult in some locations.

Country-wide poverty has fallen to 14% while the largest Regional Finance Center (the IFC) in Central America has been built using canal revenues. Panama’s strong economic and business climates have strengthened its financial sector which reports solid growth and earnings.

Focus On Education and Transportation

Education

A portrait of small happy school girl sitting at the desk in classroom
iStock/Halfpoint

The education system has also improved dramatically and as of 2018, the literacy rate for the country was 95.41% of the population. Education is required for all children in Panama from age four through fifteen and enrollment is increasing at each level, but especially at the higher levels of education. Also, Panama’s public universities offer free tuition to all students, even foreigners.

Transportation

Metro station in Panama City, Panama
Panamafly via Wikimedia Commons

In the transportation sector, Tocumen International Airport is Central America’s largest airport and a major hub for Copa Airlines among other airlines. Around the larger cities, the roads are paved and you’ll find four-lane highways especially around Panama City. The capital city also offers Metrobuses and two convenient Metro train lines (with another line planned) to help ease the traffic congestion that Panama City is known for.

Is Panama Third World? Draw Your Own Conclusion

While some areas of Panama are less developed, with unpaved roads and weak infrastructure, many choice locations offer modern conveniences, good roads, mass transit, clean tap water, and beautiful bio-diversity. As Central America’s top retirement destination, we think you’ll agree that Panama has a lot to offer.

Comments

Tags: 'panama city'Developing nationEducation In PanamaInfrastructure in PanamaPanama CanalTransportation in Panama
Share85Tweet53
Previous Post

Moving Overseas Will Affect Your Family But It Can Be For The Better

Next Post

The Panama Golden Visa: Residency And A Second Home For The Price Of One

Live And Invest Overseas

Live And Invest Overseas

Live and Invest Overseas is the world's savviest source for top opportunities to live better, retire in style, invest for profit, do business, and own real estate overseas. Established in 2008, the Live and Invest Overseas' editors and correspondents have more experience researching and reporting on top opportunities for living well, investing for profit, doing business, and owning real estate around the world than anyone else you'll find.

Related Posts

Cost Of Retirement In Portugal vs. Panama
Comparison

Cost Of Retirement In Portugal vs. Panama

by Live And Invest Overseas
February 24, 2021
0

Two of our favorite retirement destinations are Portugal and Panama. One of the most important factors you should consider when...

Read more
Panama City. Panama.

Why Panama’s Economy Continues To Boom

February 23, 2021
Dracula orchid. 

The Top Attraction In Cerro Punta, Panama For Orchid Enthusiasts

February 18, 2021
Los Islotes Coast, Azuero Peninsula, Panama

Los Islotes In Panama’s Pacific Coast—A Unique Community In One Of The Safest Havens

February 2, 2021
Los Islotes, Azuero Peninsula, Panama

A Day In The Life At Los Islotes: Living At Ease In The Azuero Sunset Coast

January 26, 2021
Modern cityscape skyline of Panama City, Panama.

The Effects Of The Pandemic In Panama: Why You Need To Invest Today

January 25, 2021
White sand beach and beautiful palm tree in La Miel, Panama.

Is Retiring In Panama Still A Good Choice? If So, Where?

January 20, 2021
Next Post
Avenida Balboa at Dusk in Panama City, Panama.

The Panama Golden Visa: Residency And A Second Home For The Price Of One

A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we'll send you a FREE report on the 10 Best Places To Retire In Style Overseas Today.

Start Your New Life Today, Overseas

Get Your Free Panama Report Today!

​​Simply enter your email address below and we'll send you our FREE REPORT - 101 Things You'll Wish Someone Had Told You About Panama.
 

how to retire overseas

LIOS Resources


  • New To LIOS
  • Ask An Expert
  • Media Center
  • Contact Us
  • FAQs

Quick Links


  • Best Places To Live
  • Best Places To Retire
  • Finding A Job Overseas
  • Real Estate

Sign up for our free daily e-letter, Overseas Opportunity Letter, and get your FREE report: The 10 Best Places To Retire Overseas In 2021

  • About Us
  • Contact Us
  • Privacy Policy
  • Terms
  • Unsubscribe

© 2008-2021 - Live and Invest Overseas - All Rights Reserved.

No Result
View All Result
  • Home
  • Countries
  • Budgets
  • Archives
  • News
  • Events
  • Bookstore
  • Newsletters
  • About Us
  • Members Area
  • Contact Us

© 2008-2021 - Live and Invest Overseas - All Rights Reserved.

WANT TO RETIRE OVERSEAS?

Sign up for our free daily e-letter, Overseas Opportunity Letter, and we’ll immediately send you a free report on the 10 BEST PLACES TO RETIRE in style overseas. Each day you’ll learn about the best opportunities for international living, retiring overseas, offshore diversification and asset protection, and investing in real estate around the world.

Get Your Free Panama Report Today!
 

​​Learn more about ​​​PANAMA and other countries in our free, daily Overseas Opportunity Letter​​, as well as our ​In Focus: ​Panama ​newsletter​​​​​​. Simply enter your email address below and we’ll send you our FREE REPORT – ​​​101 Things You'll Wish Someone Had Told You About Panama.
 

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.