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Where To Invest In The Financial Crisis

Kathleen Peddicord by Kathleen Peddicord
Dec 07, 2008
in Panama
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property market investing on a crisis
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On Fire

In the States last week, talk was grim, and people were worried, scaling back holiday plans, bemoaning how little they could afford to spend Christmas shopping this year.

Here in Panama this weekend, malls are full, shops are packed, and the streets are chaos. Downtown Panama City feels like one big fiesta. It’s Mother’s Day weekend…18 days before Christmas…everybody’s happy…and everybody’s out.

Friday night, I spoke to a group of travel writers here in Panama for a weekend conference. I talked about the do’s and don’ts of good travel writing, but, after my presentation, at the cocktail reception, the questions weren’t to do with traveling or writing…but with investing.

“Where do you think it makes sense to invest today?” conference-goers wanted to know.

“Where are you putting your money now?”

“Which international real estate markets still offer opportunity?”

“I fear I begin to sound like a paid endorsement [though I’m not!],” I replied, “but the market that makes more sense to me than ever, after more than a dozen years of endorsing it strongly, is Panama.

“There’s a reason Lief and I are in this country right now,” I continued. “We could be anywhere. And other places have our attention, too. But it’d be foolish to ignore what’s going on in Panama.”

Despite slowdowns and meltdowns elsewhere, Panama’s economy continues to fire on all cylinders, expanding quicker than most any other in the world. It’s all thanks to the continued surge in construction, transport, and commerce. The Panama Canal expansion project is in full swing…a new highway is being built between the country’s two main cities, Panama and Colon…and downtown in the capital is being completely reconfigured with a new, widened central thoroughfare, a city bypass system, and a broad, grassy stretch of parkland along the bay. If it all turns out anything like the artist renderings I’ve seen in the local papers recently, it’ll amount to the most impressive city transformation I’ve witnessed since Rouse remade Baltimore City’s harbor area when I was a kid.

You can’t appreciate the rate at which this country is growing unless you come and spend time here yourself. A friend who has lived here since he was a child remarked the other day, “You know, I grew up here, and so I’ve lived with construction around me my whole life. But what’s going on in this city now is unbelievable. Frankly, I can’t stand it any longer. I may have to move…”

Indeed, don’t come to Panama City for peace and quiet right now. This place is on fire.

On the other hand, if you, like the travel writer conference-goers I spoke with Friday night, are considering the world investment landscape, looking in near desperation for someplace to put your money as world economies and markets crumble, I strongly recommend you take a look, quick, down here in the Hub of the Americas, where traffic, trade, and world commerce are alive and kicking up a storm.

Kathleen Peddicord

P.S. “Anywhere else, in addition to Panama, we should think about right now?” the conference attendees asked Friday evening.

Argentina. More soon.

 

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Life As A Travel Writer

Kathleen Peddicord

Kathleen Peddicord

Kathleen Peddicord has covered the live, retire, and do business overseas beat for more than 30 years and is considered the world's foremost authority on these subjects. She has traveled to more than 75 countries, invested in real estate in 21, established businesses in 7, renovated historic properties in 6, and educated her children in 4.

Kathleen has moved children, staff, enterprises, household goods, and pets across three continents, from the East Coast of the United States to Waterford, Ireland... then to Paris, France... next to Panama City, where she has based her Live and Invest Overseas business. Most recently, Kathleen and her husband Lief Simon are dividing their time between Panama and Paris.

Kathleen was a partner with Agora Publishing’s International Living group for 23 years. In that capacity, she opened her first office overseas, in Waterford, Ireland, where she managed a staff of up to 30 employees for more than 10 years. Kathleen also opened, staffed, and operated International Living publishing and real estate marketing offices in Panama City, Panama; Granada, Nicaragua; Roatan, Honduras; San Miguel de Allende, Mexico; Quito, Ecuador; and Paris, France.

Kathleen moved on from her role with Agora in 2007 and launched her Live and Invest Overseas group in 2008. In the years since, she has built Live and Invest Overseas into a successful, recognized, and respected multi-million-dollar business that employs a staff of 35 in Panama City and dozens of writers and other resources around the world.

Kathleen has been quoted by The New York Times, Money magazine, MSNBC, Yahoo Finance, the AARP, and beyond. She has appeared often on radio and television (including Bloomberg and CNBC) and speaks regularly on topics to do with living, retiring, investing, and doing business around the world.

In addition to her own daily e-letter, the Overseas Opportunity Letter, with a circulation of more than 300,000 readers, Kathleen writes regularly for U.S. News & World Report and Forbes.

Her newest book, "How to Retire Overseas: Everything You Need to Know to Live Well (for Less) Abroad," published by Penguin Random House, is the culmination of decades of personal experience living and investing around the world.

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