(International Living) If your dreams of life in a new country mean securing an overseas income, then Panama must be high on your list. Here’s five reasons why Panama fits the bill for today’s move abroad adventurer:
Panama is fast becoming an economic giant on the world stage. Why? Simple—geography. Almost 100 years ago the Panama Canal began providing a route for ships which could shave weeks off voyages from the Pacific to the Atlantic and back. Today, this route slashes fuel costs (a typical ship that uses the Panama Canal saves $500,000 in fuel cost).
Manufactured goods and raw materials will need to travel by ship for decades to come, and Panama is uniquely positioned to benefit from it.
Reason #2—Financial Influence
Panama is one of the western hemisphere’s major economic centers. International commerce has brought a degree of sophistication to the country’s banking sector.
The financial problems in the U.S. (and more restrictive banking regulation) have made Panama an attractive alternative for anyone looking for financial stability and flexibility.
If you want to build a modest business, your Panamanian bankers and financiers will probably be a great asset.
Reason #3—The U.S. Dollar
Although Panama has its own currency, that currency is tied to the good old U.S. dollar. And even though the dollar has been beaten up in world markets of late, it is comforting to know that when you move your money it doesn’t bump into the added confusion of exchange rates and currency conversion charges.
Reason #4—Quality of Life
My travels in Panama have been memorable because of the unexpected friendliness and welcoming nature of Panamanian people. Dinners in open air restaurants…nighttime strolls along well-manicured promenades…the pace of life in Panama is slower than back home.
Most Americans I’ve talked to share similar experiences. “Safe” and “friendly” they say.
And then there’s the rich diversity of life here. You have the urban feel of Panama City with its bustle, skyscrapers and trendy restaurants…the laid back coastal regions…cooler mountain and highland areas peppered with coffee plantations and villages where you can find authentic local craftwork.
If you’re planning on lining up a full- or part-time income overseas, you’ll want to make sure you have reliable communications services. Some of the best earning opportunities involve working online—but you will need a top quality Internet connection.
Panama’s Internet connection needs to be fast enough to cope with the demands your business will put on it, access must extend to your new place, and it has to be reliable.
Panama is not just a safe, stable place to live and do business in—it is strategically positioned to take full advantage of the building wave of economic growth. Make sure you’re part of it.