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Panama is the best place in the world to retire to. That’s according to the 2022 Retirement Index. The index is published every year by International Living, a monthly subscriber-based publication that provides detailed information regarding the best places in the world to live in or retire to. The publication also provides information regarding travel and investment opportunities in different countries. If the announcement by International Living is anything to go by, Panama seems to be cementing its legacy as the best place to retire with each passing year.

This is because the transcontinental country, with this recognition, has now won the title for the 11th time. “Incredible” doesn’t even begin to describe this outstanding achievement. Read on to discover what could be making Panama a consistent top choice and why it should be on every vacationer’s bucket list. Of course, there’s more to Panama than its world-famous canal.

How Panama Emerged The Best Country To Retire To

Panama emerged as the best after a detailed survey commissioned by International Living. According to International Living, their process of selecting the best destination to retire to cannot be described as scientific or empirical. Instead, real people, their own scouts, visit real places, then come up with information the organization uses to pick the winners. According to International Living, their scouts are “not beholden to relocation service providers or real estate agents or tourism boards.” In short, they are independent. Of course, there are people who will claim that these findings are subjective. And they are right. However, that might not be a big deal. If anything, it’s hard to put beauty on the Richter Scale and other aspects of what constitutes a good life.

San Blas; Panama
Photo by Niels van Altena on Unsplash
San Blas; Panama. A beach.

International Living, the organization that undertakes the best-country-to-retire-to surveys, has been in this ranking business for more than 30 years. The organization was founded in 1979. To history buffs, this is an exciting coincidence. This is because 1979 is actually the year the United States began the process of turning over the Panama Canal back to Panamanians and hence, reinforcing the sovereignty of the beautiful transcontinental country. Today, International Living has offices all over the world and styles its surveys as “the most comprehensive of its kind.” Housing, availability of visas, and residence permits are among the factors International Living considers in their rankings. Others include development, climate, healthcare, and cost of living. Of course, they also consider the state of governance.

Related: Corinth Canal: More Eye Catching Than The Panama Canal?

Why Panama Emerged The Best Country To Retire To

There are several reasons many pick Panama as their preferred retirement destination. For starters, Panama is a tropical paradise with many flawless beaches and secluded islands, including San Blas, the world-famous archipelago with about as many islands as the days of a year. Retiring to Panama, it seems, comes with significant cost savings. According to International Living, on a retired teacher’s budget, one can live a lifestyle that would cost six figures in the United States. A couple, for instance, can live comfortably well on about $2,500 a month. Of course, going forward, economic factors such as inflation and the relative strength of the dollar will impact financial considerations.

Panama City, Panama, at sunset
Photo by Miguel Bruna on Unsplash
Panama City, Panama, at sunset

And located only between 7 and 10 degrees north of the equator, Panama has pleasant weather that is hard to beat. While one might claim that Florida also has a number of sunny destinations that are just as appealing, Panama’s weather is decidedly more tropical and, hence, more enjoyable year-round. Panama’s weather is just the ideal one for a number of outdoor activities like hiking, biking, and kinds of splashy water sports.

Related: Book These 10 Panama Resorts For A Magnificent Coastline Experience

Other Factors That Make Panama A Great Place For Retirement

Panama comes with other tempting benefits. For starters, Panamanians are infectiously warm and friendly, especially those in the bucolic countryside. It is not rare to receive hearty greetings from complete strangers. The locals are more demonstrative and expressive in their greeting etiquette, a greeting etiquette that almost always involves a handshake. Panama can be described in several choice words; However, “unfriendly” will not be one of them. And if one knows a little Spanish, the experience is even better. A third of the people surveyed by International Living mentioned that “People are nicer, the pace slower, and that everyone is quick to help and make you feel welcome.”

  • How Much Is an Average Plane Ticket to Panama From Miami? According to FareCompare, the average price for direct flights from Miami, Florida, to Panama City, Panama, is $372.

Strategically perched between North America and South America, Panama has a thriving ex-pat community thrilled to call this diverse paradise home and that has adopted the lifestyle of the natives that they are now considered family. What’s more? The Panama Retirement visa is one of the most attractive on the globe.