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The Panamanian economic expansion will unravel much faster than Costa Rica’s boom because Panama has a much better infrastructure, a more cooperative Government and is an international Banking center. Panama has no local currency; they use the US dollar. There are close to 100 international banks that are competing to finance any viable deal in real estate or business. These banks offer high interest rates on deposits and low interest rates on loans.

The Real Estate prices in Panama, as compared with other nations, are still undervalued. If you know where to look, some of the deals are unbelievable. The foreign investors are eagerly jumping into Panamanian Real Estate opportunities because they have seen the phenomenal success of the Costa Rican Real Estate Developments. Now, more than ever before, the demographic of the baby boomers and the ailing US economy are conducive to relocating for retirement to a country such as Panama. Thousands of North Americans retire every year in Panama as it is quickly becoming the place of choice. It has been consistently topping all the best lists of retirement and vacation home destinations because it is close to USA and Canada, it’s safe and it offers a wide variety of comfortable lifestyle choices for just a fraction of the cost of similar world-class locations. More and more airlines are adding direct flights to their routes.

If you are an entrepreneur, Panama is an economic paradise. There are no taxes for Panama Corporations doing business outside of Panama and you’ll find unsurpassed opportunities to make deals. There is a growing consumer market and the residents have high purchasing power.
The cost of employees in Panama is minimal. Salaries for secretaries and office workers start from $300/month while engineers and medical doctors will accept salaries starting from $1,200/month. You will pay a plumber or a licensed electrician $25 per day and a construction worker $12.80. A live-in, full time maid costs from $150 per month and a bilingual skilled computer programmer with experience or any other seasoned professional will start work from $600 per month or less. There is an abundance of candidates eagerly competing for all such employment opportunities. The Panamanian labor force would give the entrepreneur cost cutting opportunities that are inconceivable in other countries offering similar infrastructures and climate.