There is definitely more to Panama than a canal!

Panama is fast becoming one of the world’s top retirement destinations and also a world class tourist location - particularly for adventure and ecotourism. Long overshadowed by its neighbours such as Mexico and Costa Rica where mass tourism is now the norm. Panama has been relatively unknown except to travellers with special interests such as world record deep sea fishing, birding, river rafting and rain forest experiences.

All these exciting opportunities together with gorgeous beaches and great surfing, kayaking and diving, ensure Panama has something for everyone. lt has an interesting cultural background, from stone age indigenous peoples (still in evidence) to the history of conquistadors, and now a modern society with infrastructure that is first world Panama is still a country where you can see a myriad of birds including a quetzal, while sitting alone in a rainforest, rather than having to join many tourists viewing one quetzal. From the Caribbean to the Pacific, imagine these choices on your doorstep! ln addition Panamanians are some of the friendliest people you will ever meet. All this makes Panama an ideal location for retirement or a second home.

ln 2003 for the first time tourism topped the Canal and the Free Trade Zone, as the country’s top revenue earner; this year Panama anticipates its millionth tourist. The number of cruise ships is increasing. lt is estimated that there will be almost 200 cruises with more than 280,000 tourists in the season of 2007-2008.

The growth in tourism leads to increasing investor Interest in this sector, and there are incredible opportunities for tourist related services and accommodations, encouraged by government incentives in a number of designated areas, called Social Tourism Zones.

With an US style infrastructure, Panama offers an easy transition particularly for US retirees 75-80 million Baby Boomers will reach retirement age in the next 10 years in the US alone. US Government statistics show that most of them will not be able to sustain their current standard of living by relying on savings, assets or pensions. More than ever before, U.S. baby boomers are considering retirement outside the U.S.A. Having travelled far more extensively and being more active and adventurous than previous generations, they are also identifying the need to maximize their diminishing retirement incomes, so the idea of overseas retirement is appealing to many. Discovering a less stressful environment also has a definite allure! The families of the North Americans who lived in Canal Zone during the 90 years of North American presence look back at their “Paradise Lost” and very often return. Living and retiring overseas was once an option available only for the wealthy, it is now an affordable trend.

The cost of living in Panama is lower than the US and much lower than Western Europe . For example, electricity costs approximately 10 - 12 cents per kilowatt hour depending on the area, water and trash collection around $7 per month. Direct TV, telephone and internet services vary according to the plans chosen. Direct TV with a wide choice of English language channels is approximately $SO per month. Locally produced vegetables, meat and fish are priced considerably lower than in the USA although imported items may be slightly higher. The minimum wage for housemaids or gardeners is 88 cents per hour. Local beer at the supermarket costs 30 cents per can, a coffee in a restaurant may be as little as 30 cents.

Panama currently has an undervalued real estate market; however as has happened in countries like Costa Rica , Mexico and lreland , prices are beginning to rise as more people discover the advantages Panama has to offer As a potential real estate investor there are several areas to consider where you will find maximum growth opportunities.

Over 80 banks have full service branches here including HSBC, Scotiabank, Dresdner, BNP/Paribas; there are no “brass plate” banks here Panama is a growing international financial center with good communications and first world amenities. There has never been a better time to invest in Panama.

Not only is there tremendous interest in Panama as a tourist and retirement location, economically Panama is gaining strength. The new administration, under President Martin Torrijos, elected on May 1st 2004 with a strong popular majority, has the momentum to carry out measures to promote growth. The plans to enlarge the Panama Canal, and participate in (CFZ), established in 1953, is the largest in the Western Hemisphere and contributes substantially to the country’s economy. Panama has consistently maintained one of Central America’s highest per capita gross domestic product. In March 2004, the International Monetary Fund recorded 4% real term growth for 2003, and forecasts are positive for the future. The U.S.A. is still the largest user of the Canal, and Panama’s foremost trading partner, central banker and is influential regarding its monetary policy