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    Super Cheap

    • Chitré, Panama
    • Santa Marta, Colombia
    • Phuket, Thailand
    • Dumaguete, The Philippines

    Cheap

    • Medellin, Colombia
    • Boquete, Panama
    • Kyrenia, Cyprus
    • Hua Hin, Thailand
    • The Algarve, Portugal

    Affordable

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    • Cascais, Portugal
    • Las Terrenas, The DR
    • Pisa, Italy
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  • Home
  • Countries

    Top Destinations:

    Whether you’re looking for fun and sun, a peaceful retirement, or the chance to earn some extra income, you’ve got a real world of opportunity open to you… In short, we’ve done our best to narrow down your best options, but only you can decide the right country for you.

    • Spain
    • Portugal
    • Panama
    • Belize
    • Colombia
    • Cyprus
    • Mexico
    • France
    • Montenegro
    • Browse All Countries

    Best For:

    • The Best Places To Retire
    • Health Care Abroad
    • Cost Of Living
    • Investing in Real Estate
    • Establishing Residency
    • Gun Laws In The World
    • English-Speaking Countries
    • Safest Places For Retirement
    • Best Places In Latin America
  • Budgets

    How Much Will It Cost You To Live Overseas?

    The only honest answer is, we have no idea. And neither does anyone else. The only one who can answer that question is you. Here’s the most important thing to understand about budgeting your new life overseas…

    Super Cheap

    • Chitré, Panama
    • Santa Marta, Colombia
    • Phuket, Thailand
    • Dumaguete, The Philippines

    Cheap

    • Medellin, Colombia
    • Boquete, Panama
    • Kyrenia, Cyprus
    • Hua Hin, Thailand
    • The Algarve, Portugal

    Affordable

    • Valencia, Spain
    • Cascais, Portugal
    • Las Terrenas, The DR
    • Pisa, Italy
    • La Rochelle, France
    • Mazatlán, Mexico

    Luxury

    • Ambergris Caye, Belize
    • Kotor, Montenegro
    • The Panama City Beaches
    • Paris, France
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    PANAMA CITY, PANAMA

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Home Countries Panama

Panama Is Up And Running: The Isthmus Latest Developments

Why This Country Will Recover Faster Than Most Any Other Post-Pandemic

by Lief Simon
May 27, 2021
in Panama
0 0
panama city avenida balboa apartments

Image Source: iStock/Ale Grutta

A little more than a year since pandemic restrictions first were instituted in Panama, the country is vaccinating (including foreign nationals) at a good rate, and stay-at-home orders have largely been lifted.

Beaches, pools, and gyms have re-opened, and the international airport has been again operating since Oct. 12.

Now what?

As is its custom, Panama has a plan for reinvigorating itself post-crisis… based in large part on infrastructure improvements and advancements.

Specifically, this little country with one of the world’s most impressive track records for recovering from economic downturn is:

1. Building a twin cruise ship pier at Panama City’s Amador Causeway…

Panama will begin welcoming ships and passengers as soon as the cruise industry recovers, creating an estimated 10,000 new jobs.

Historically, cruisers traversed the Canal and kept going without actually entering the country. The new pier will change this, and cruise-goers now will have the chance to invest in everything from Panama hats and molas (traditional textiles) to guided city, rain forest, and coffee plantation tours…

2. Opening a new convention center…

3. Offering 87 direct flights to 37 countries (including Istanbul, Amsterdam, New York, Toronto, and Paris) through its Tocumen International Airport…

Single connections bring in the rest of the world.

If you are traveling to Latin America, it is likely you are passing through Panama City.

4. Launching a tax-incentive program that means tax abatements of up to 100% on projects that build infrastructure and grow tourism…

In 2019, more than 18 million people arrived at Tocumen International Airport, but only 3 million actually entered the country (see above about Panama being the gateway to Latin America). The new tax program is a direct effort to increase visitor counts and expand the country’s tourism industry.

5. Creating more new jobs than ever…

As tourism begins to develop, job creation will be one of the biggest benefits for both locals and foreign nationals.

6. Building a third line of its Panama City subway system…

This line will connect the capital with Panama Oeste, the western region just over the Pacific side of the Panama Canal.

The Bridge of the Americas, completed in 1962, was designed to carry 9,500 vehicles a day. Today that bridge sees approximately 70,000 vehicles daily.

The third subway line will share space on the fourth bridge over the Panama Canal and should go a long way toward easing traffic congestion. The new subway line is especially important to workers in Panama City, Panama Pacífico, Veracruz, and other western suburbs. Everyone from domestic help to resort workers, nannies, and professionals staffing the many multinational companies that call Panama home will be able to commute easily and inexpensively.

This US$3 billion project will substantially change the face of Panama City and open up new areas of investment opportunity.

7. Operating a massive copper mine that is ideally positioned to capitalize on the pent-up post-pandemic need for copper worldwide…

As a friend here put it, “With copper trading over US$3, this mine is printing cash.”

I’m more invested in Panama than anywhere else in the world… and right now I’m feeling good about that.

Lief Simon
Editor, Offshore Living Letter

Tags: 'panama city'jobs in panamaPanamaPanama Canalpanamas economytourism in panama
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Lief Simon

Lief Simon

Lief Simon has lived and worked in 7 countries on 5 continents and traveled to more than 75 countries. His real estate investment career began with a $5,000 down payment on a three-flat building in Chicago. Less than three years later, Lief sold the building for a leveraged return of 3,000%—$150,000 in profit after closing costs and commissions.

From there, he turned his attention overseas and has bought property in 24 countries including France, Croatia, Portugal, Ireland, Belize, Spain, Argentina, Cyprus, Romania, and beyond. Thanks to his decades-long career as a global property investor, Lief has built a multi-million-dollar portfolio that includes rental properties, significant land holdings, and 7 personal residences.

Lief has established residency in 3 countries and acquired a second passport from Ireland.

In 2008 Lief and wife Kathleen Peddicord made the most important investment of their lives—a 215-acre oceanside finca, known as Los Islotes. There, on Panama’s largely undiscovered Veraguas coast, they’ve installed underground electricity, water, and internet and built a forever family home that sits at the heart of their ultimate vision: a gold standard private residential community for those in search of a true safe haven escape.

Lief’s latest book, “Cowboy Millionaire—The New American Pioneer,” collects all the wisdom he has learned in three decades of living and investing outside America.

He offers advice on international diversification in his twice-weekly Offshore Living Letter and monthly Simon Letter dispatches. For real estate investment opportunities, check out his monthly Global Property Advisor service.

If you’d like to meet Lief in person, join him for one of our upcoming in-country conferences. You’ll find further details here.

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Top Countries

  • Spain
  • Portugal
  • Panama
  • Belize
  • Colombia
  • Cyprus
  • Mexico
  • France
  • Montenegro

Best For:

  • Health Care Abroad
  • Retirement Living
  • Cost Of Living
  • Investing in Real Estate
  • Establishing Residency
  • Gun Ownership
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  • Safety
BROWSE ALL COUNTRIES

Budgets

How Much Will It Cost
To Live Overseas?

Super Cheap

  • Chitré, Panama
  • Santa Marta, Colombia
  • Phuket, Thailand
  • Dumaguete, The Philippines

Cheap

  • Medellin, Colombia
  • Boquete, Panama
  • Kyrenia, Cyprus
  • Hua Hin, Thailand
  • The Algarve, Portugal

Affordable

  • Valencia, Spain
  • Cascais, Portugal
  • Las Terrenas, The DR
  • Pisa, Italy
  • La Rochelle, France
  • Mazatlán, Mexico

Luxury

  • Ambergris Caye, Belize
  • Kotor, Montenegro
  • The Panama City Beaches
  • Paris, France

Resources

Global Living

  • Living & Retiring Overseas
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