The isthmus of Panama is making sound waves throughout both its oceans in what could become the biggest tourism and real estate boom in the history of the continent. Recognized as one of the hottest retirement haven in the world and becoming increasingly more popular with the world’s vacation trendsetters, Panama—the little country with a canal—has finally made it onto the international destination scene.
Having focused on its main source of income, the Panama Canal, this nation—roughly the size of South Carolina—has now shifted its efforts to attract retirees and vacationers who are searching for a ‘path less traveled’. Newcomers to the region, with the ancient notions of Noriega still nipping at their feet, might ask what makes Panama special…
Why Panama?
Archipelagos of hundreds of islands pepper the nation’s Caribbean coast, and play home to one of the region’s oldest indian tribes, the Kuna Yala. Just an hour from the cosmopolitan Panama City sits the Pearl Islands whose white sand beaches and secluded jungles have hosted several episodes of the tropical reality series Survivor. The enigmatic Darien Jungle is renowned for sport fishing and bird watching, a mysterious region traveled best with experienced guides. Bocas del Toro is one of the country’s most popular tourism spots, boasting an impressive nightlife and restaurant scene and some of the finest beaches this side of the equator. The eco-town of Boquete has made headlines as a freshly-temperate sanctuary with first-class accommodations and retirement developments. Pristine islands like Isla Coiba, Isla Iguana, and Isla de Cana off Panama’s Azuero Peninsula are oftentimes regarded, in fishing and eco-travel magazine, among the best and most unique spots on earth for fishing, boating, and water sports. The country uses the US Dollar, has been ranked as the safest country in Central America, and has one of the lowest costs of living around. Why Panama? Why not?
Panama City, the eclectic and ultra-modern center is, both literally and figuratively, the core of the country. While the Azuero Peninsula is, in many ways, regarded as the cultural heart, Panama City is and has been for a long time an international hub. A crossroads of the Americas. It’s highly-renowned banking district and Miraflores Locks of the Panama Canal have attracted global attention for years now, and the focus is starting to shift to the tourism and real estate sectors where expatriates are picking up vacations and real estate for what seems like pennies. Beach towns like Coronado and Santa Clara have become hotbeds for investment and relaxation: their white sand beaches and American-style amenities drawing fanatics from all over the globe. Eco-resorts are starting to pop up as are high-end luxury hotels and real estate developments. Compared to its trendy northern neighbor Costa Rica, Panama appears to have all the signs for success in place. Now, its just a matter of time.
Matt Landau is a travel and real estate consultant in Panama, Central America. His websites for Panama Investment and Panama Travel fund his nasty travel habits.
