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Why Panama
Panama abounds in opportunities and continues to grow economically. While results for 2007 are not yet fully available at this writing, some reports are that Panama exceeded all Latin American countries in growth in combination with the lowest rate of inflation relative to that growth. Prospects of this continued growth and low inflation are excellent due to many factors. Some major ones are: The expansion of the Panama Canal is a reality and work continues daily on that “mega-project”. Numerous projects in the petroleum, mining and agricultural sectors are underway as well so the growth is broad based and increasing prosperity is evident through-out the country.
Why would someone choose Panama for immigration, retirement and/or investment? The reasons are numerous and can be different for different people but for most people one of the best reasons is Panama will be familiar ground. Panamanian people have a long and unique relationship with the USA. For most of Panama’s history Americans have been a familiar sight, travelling and living in Panama. When the Canal Zone was returned to Panamanian control and the US bases were closed, there were in fact American families with strong Panamanian family ties who stayed. The history with the USA also includes a level of water supply, sanitation, medical facilities, transportation, highways, ecological awareness and so on that just does not exist anywhere else in Latin America. Not to say that the USA deserves all credit for this high level of development but the standard, because of US involvement, has always been high. It is the Panamanian standard.
Outside the Canal Zone, Panamanian society evolved in a more prosperous Panama that is truly Panamanian. Friendliness and openness are true Panamanian cultural traits. While it’s true that Panama City itself is very cosmopolitan, travelers in the “interior” of Panama can’t help but be struck by the genuine hospitality of Panama’s people. It is a fun loving, low key people, for the most part, who greet newcomers and visitors alike with love for their country and tolerance for differences. Anyone who just goes to the “Big City” of modern, bustling Panama City is indeed missing the wonderful experiences to be enjoyed west of the canal.
Some facts: Panama has always been on a US dollar based currency and economy. Panama is a technologically advanced country with excellent electrical delivery networks, increasingly well maintained highways, outstanding cellular and land based phone systems and excellent TV systems. Panama is a world banking center with a large number of both respected international and domestic banking organizations adhering to banking laws that both encourage business and individual economic advancement yet don’t allow unlawful and therefore negative economic activities.
While a defined area of Panama is struggling with the same crime as is occurring elsewhere in the world’s large cities, most of Panama enjoys what must be one of the world’s lowest crime rates. High literacy and employment levels plus well trained and motivated police, who have a high level of crime arrests and prosecutions, lend a sense of security that is increasingly diminishing in much of the world today. It can truthfully be said that to be a law abiding citizen is also an evident Panamanian cultural trait. As prosperity continues to spread in Panama, perhaps the resorting to crime by otherwise hopelessly poverty stricken people will continue to decline while better control of the national borders will increasingly exclude the entry of foreign criminals.
The beautiful country of Panama, with much of it in a natural state protected by an outstanding environmental agency that both protects and conserves yet understands that resource development, permitted by law, must be encouraged so that a prosperous Panama continues to be present and future goal. And Panama IS beautiful and unspoiled. With great weather, an ocean close to most everyone, lowlands being very warm yet cooler highlands and mountains close to most people throughout the country due to a very unique geology, and a predictable rainy period that replenishes the ground water and rivers and “greens” the country, Panama is a haven to many people who have had to experience harsh winters, hurricanes and other storms and the varied weather that much of the world endures.
Yes, like everywhere, Panama has a share of problems. Yet, most anyone would have to agree that great progress is taking place to improve those problems. Most Panamanians take pride in that progress and a very high level of democratic participation means that “Why Panama” will continue to have more and better positive answers. Government programs that continue to invite a higher level of residency and investment means a “fortunate number” of foreign-to-Panama born will be able to share in an almost boundless opportunity that is modern Panama!
So, the above plus genuinely low prices for beautiful property when compared with almost anywhere, Panama might be the wisest of destinations for the prudent investor who takes the time to look around and be educated in the Panamanian way of accomplishing things.
Panama, truly a LAND OF OPPORTUNITY