“Kathleen, since I signed up, you have been pushing us to consider living in Panama. It hasn’t been truly stable for a while now. Maybe it’s a cheap place to run your business, but how do you move out when it begins to be unstable?”
–Johanna B., United States
Panama is probably the most stable country in Central America, and it’s stable politically and economically by anyone’s definition for any region. The country has enjoyed one of the highest economic growth rates in Latin America for a decade. It hasn’t had a single year of negative growth in that time, including in 2008, and has been affected very little by the “global crisis” of the past seven years. By every measure, including boots-on-the-ground, this country is booming and continuing nicely along its path to becoming a bona fide First World destination.
That said, if Panama ever did become unstable in any way that created a problem for retirees, investors, or entrepreneurs, we and our fellows could get on a plane. We left Ireland when the cost of living and doing business in that country became more than we were up for, and we moved from Paris to Panama City when our business agenda became a driving priority. Money goes where it’s treated best. We didn’t invent this strategy, but we embrace it.
Meantime, Panama continues to treat retirees, investors, and entrepreneurs better than most any other country you could name. We don’t see that changing anytime soon, and we and our business, are very happily at home here.
Continue Reading: Should You Retire In Nicaragua?