Panama has been ranked as the best country to retire in for several years in a row. This small Central American country offers a perfect combination of tropical weather, a low cost of living, high-quality healthcare, and a friendly culture that welcomes foreigners. In this article, we will explore the reasons why Panama ranks as the top country for retirement and why it should be on your list of places to consider when planning your retirement.

Low cost of living

One of the biggest advantages of retiring in Panama is the low cost of living. Panama’s currency is the US dollar, which means that American retirees do not have to worry about currency exchange rates.

The cost of living in Panama is about 25-30% lower than in the United States, which means that retirees can live a comfortable life on a much lower budget.

Panama’s real estate market is also very affordable. The cost of housing is much lower than in the United States, and retirees can find a variety of options, including beachfront properties, mountain homes, and urban apartments. In addition, property taxes are low in Panama, which makes owning a home even more affordable.

High-quality healthcare

Panama has a world-class healthcare system, which makes it an ideal destination for retirees who want access to quality medical care. The country has several excellent hospitals, including Punta Pacifica Hospital, which is affiliated with Johns Hopkins Medicine. Many doctors and medical staff in Panama are trained in the United States or Europe, and they speak English, which makes communication easier for foreign patients. In addition, healthcare costs in Panama are much lower than in the United States. A routine doctor’s visit may cost as little as $40, and many prescription drugs are available at a fraction of the cost of what they would cost in the United States. Retirees in Panama can also purchase private health insurance, which is much cheaper than in the United States.

Tropical weather

Panama has a tropical climate, which means that retirees can enjoy warm weather year-round. The average temperature in Panama is around 80 degrees Fahrenheit, and there is plenty of sunshine. The country has two seasons: the dry season and the rainy season. The dry season, which runs from December to April, is the best time to visit, as there is very little rain and plenty of sunshine.

Friendly culture

Panama is a very friendly and welcoming country, which makes it easy for foreigners to adjust to their new surroundings. Many Panamanians speak English, especially in tourist areas, and they are always happy to help visitors. The country has a rich cultural heritage, and retirees can enjoy a variety of activities, including festivals, art exhibitions, and concerts. In conclusion, Panama ranks as the best country to retire in due to its low cost of living, high-quality healthcare, tropical weather, and friendly culture. Retirees who move to Panama can enjoy a comfortable lifestyle on a lower budget, access to world-class medical care, and a warm and welcoming community. If you are considering retiring abroad, Panama should be at the top of your list.