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When you come across the name – Panama, you will immediately think of the famous man-made canal called Panama Canal or your mind will immediately drift to the Caribbean beaches that the country is also famous for. However, there’s more than just the canal and the beaches in this place.
The country has it all, a progressive capital (Panama City), great weather, modernized buildings, big shopping malls, rainforests, rivers, Latin American culture and many more. Panama is in fact an international hub for banking and commerce so it’s no wonder that this Caribbean paradise is a top choice for foreign businessmen and tourists alike.
For the past seven years, major travel magazines put Panama as one of the top five best places to retire in the world. This is attributed to reasonably cost of living, less pollution, ecotourism, real estate boom and many others. The economy of the country outperforms other Latin American countries such as Costa Rica and Mexico.
Here’s an overview of what you should expect when you visit this Latin American paradise: • Reasonable Cost of Living
Panama’s official currency is the U.S. dollar so you don’t have to worry too much about the current exchange rates and whatnot. You will be getting your money’s worth when you do shop here in Panama. In fact, a dollar can go much further here than in the U.S. According to latest date, the electricity cost ranges from 10 to 15 cents for every kilowatt/hour. The water bills go an average rate of eighteen dollars every year. Phone bills about thirty dollars/month, internet services about fourteen dollars/month and cable television is about thirty dollars per month. If you hire a live-in household help for your home, you will need to pay that personnel between $200 and $250 a month.
• Great Place to Shop
Panama has major shopping malls scattered within the city. You will never run out of great things to buy since the prices of the items are very reasonable and are almost fifty percent off compared to those sold in other cities. You can buy a lot of products ranging from high-end clothing brands to paintings and items created by the Indians. You can almost get anything at a bargained price!
• Second Largest Free Zone in the World
The famous Colon Free Zone, which is located about 45 minutes away from the city proper, is the second largest free zone in the world – just second to Hong Kong. The said areas measures more than 800 acres and more than two hundred companies conduct their business here. With these figures, it is no wonder why the combined revenues reach more than $11 billion every year. Being in the free zone means that these companies do not need to acquire a commercial license in order to operate. Furthermore, no tax is collected from revenues coming from exported products that transpire within the zone and as such no quotas or tariffs are imposed on both imported and exported products.
• Friendly and Hospitable Panamanians
Once you step in Panama, you will be greeted with cheerful, fun-loving, friendly and hospitable people. In fact, this Latin American country has been rated among the friendliest nations in the world. The official language is Spanish although most are able to speak in English because it is the second language being taught in schools.
There are six Indian tribes residing in the country. You can actually visit their location and you will be surprised how they treat their visitors. They are extremely friendly and willing to share with you their culture and their means of living.
Immigrants from Northern America, China, Japan, India, Israel and Europe live in Panama. Therefore, the country is filled with different cultures which will leave you consistently interested with pretty much everything in this Latin American paradise.
• World Class Capital City
Panama City is considered a world-class destination for foreign businessmen and tourists. It has five-star hotels, restaurants that offer world-class cuisine, great tourist spots and many more. In fact, a lot of multibillion dollar business set up their regional headquarters here in Panama.
The city offers a lot to people from all ages. It has a lot of local and international banks, condominiums that are reasonably priced and reliable hospitals with the latest medical technology. The city government has implemented a very competitive health insurance system which means that you will be getting the best medical attention when you need it.
Foreigners who love to have fun in bars at night won’t be disappointed. Nightlife in Panama is great – with nightclubs filled with fun-loving people. You will definitely get to interact with a lot of people, a nice way to meet friends.
• One-of-a-kind Carnivals
Panama City currently holds the second best record in terms of conducting the biggest carnival in the globe. It rivals the other major carnivals conducted in New Orleans and Rio de Janeiro in Brazil. During the carnival days, the major streets of Panama are filled with people dressed in many costumes and faces covered with ornately created masks and many more. You will definitely miss half of your life if you fail to attend this merry occasion.
• Great Weather
Panama generally has a tropical climate so you need not worry about winter clothes and heating up your condos. Plus, it is not affected with hurricanes and other dangerous natural occurrences.
All these and many more – Panama is simply the best destination for you and your family. Don’t just take anyone’s word for it, experience it for yourself. You won’t be disappointed. Have fun in Panama!
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About Panama
