One of the items under consideration as we move into retirement is what we want our new reality to be. Something that has been on our radar for several years has been the idea of living in another country. We’ve really been considering Panama (the country). Why Panama? Well, one reason is that Mike was born there. Until recently, he had never been back since he left as a baby. But, a number of years ago we started to research. Some things that Panama has going for it are its economy, diversity, and friendly welcoming people.
Panama has a healthy economy due in part to the Panama Canal. The constant stream of ships using the canal to traverse from Atlantic to Pacific and Pacific to Atlantic helps support a thriving economy. Due to the long time presence of the U.S. military in the canal zone, the official currency of Panama is the U.S. dollar. The Panamanian government does not print its own paper money but does mint coins called Balboas that are worth the same as a dollar. The fact that there is no monetary conversion here makes it simple for Americans. Many people ask about the cost of living, and there really isn’t a pat answer for that. It really depends on one’s expectations and lifestyle. Our observation has been that if you want to live a relatively lavish lifestyle in a North American style three to four bedroom home, housing is going to be very similar to what you would pay in the states. However, if you don’t mind living in a nice Panamanian style home with one to three bedrooms, you can expect to pay substantially less. We have found that overall, groceries are substantially less expensive as are restaurants and clothing. Also, prices in the city are slightly more for many things than prices in communities outside the city.
Panama is both geographically and culturally diverse. A mountain range divides the Pacific and Caribbean coasts of Panama (I’ve been told it is considered part of the continental divide that runs from North America through South America). One can choose to live in the city, on the beach or in the mountains. There are numerous coastal communities and a number of mountain communities from which to choose. Panama City is a vibrant metropolitan city with a diverse population consisting of Panamanians and expats from many countries in Latin America as well as Europe and North America. There are a number of areas that are popular with expats. In towns like Boquete, Coronado, and Pedasi, one will find a good many expats from North America and Europe. In these communities one can get by easily not speaking Spanish, while in most communities little English is spoken by residents. The native Panamanian culture varies from place to place. There are a number of independent pockets of indigenous peoples, such as the Kuna Yala (Guna people of San Blas) and the Embera of the Darien region. The culture of the majority of Panama is typical of other Latin American countries, while one can find a unique Afro-Caribbean culture in the communities on the Caribbean coast in places like Bocas del Toro and Portobelo. In addition, one can spend time in one of the many Panamanian beach front communities, live in a remote beachfront area, enjoy the beauty of the mountain regions, hike to the summit of a volcano, enjoy the beauty of numerous waterfalls and clear mountain rivers and stream, or trek through jungle trails. One can whale watch during whale season, enjoy snorkeling or diving around beautiful coral reefs, take pleasure in spotting dolphins, starfish, sea turtles and a plethora of other marine life, or take a deep sea fishing trip. There are many opportunities to enjoy the variety of unique wildlife found in Central America. A walk in Metropolitan National Park in the city will give one a chance to spot Toucans and other beautiful birds, sloths, interesting insects and beautiful butterflies, as well as a number of other creatures. Monkeys, sloths, coatimundi, jaguars, red and gold tree frogs, and many other species can be seen in areas throughout the country.
The people of Panama are welcoming and friendly. Most places in Panama are considered extremely safe. We have walked around many places in the city both day and night and have always felt safe. There is little to no crime in most Panamanian communities, despite the fact most would consider the majority of Panamanians poor. Panamanians love to celebrate their holidays, music, and fireworks. Many people in the city speak English, but even those who do not will do their best to communicate and help if they can. If you just try to use even limited Spanish, they will go out of their way to be helpful. Beyond the city, few locals speak much English but again will do their best to help if they can. A simple “hola” or “buenos dias” will always get one a smile and a head nod.
For these reasons, we have decided that Panama is a place to explore. Another plus is that it is just a little over a four hour flight from Austin, Texas (an hour from our home), and flights can usually be found for under $500. Sure, we could consider other recommended countries such as Portugal, Costa Rica, or Thailand, but the fact Mike was born there and it seems to have things those other countries don’t offer has made Panama our initial choice. I’ll keep you posted on what life is like as we explore Panama for awhile.