Panama ranks among the world’s best destinations for expatriates, thanks to its tropical climate, quality of life and vibrant international community. The InterNations 2024 report highlights its strengths, from economic opportunities to hospitality. Find out why this country continues to attract those looking for a fresh start.
In its “Expat Insider 2024” report, InterNations, the world’s largest global expatriate community, highlighted Panama as one of the best places to live and work abroad. According to the study’s data, the Central American country shines especially in areas such as ease of settling in, climate and economic opportunities. With an outstanding rating in the “Easy to Settle In” pillar and a special mention for its “welcoming and communal atmosphere,” Panama is positioned as a preferred destination for professionals and retirees alike.
The annual Expat Insider report with data from a global survey of expatriates over the age of 18 who have lived abroad for at least three months. Participants rate more than 50 aspects in five key indices: Quality of Life, Ease of Settling In, Work Life, Personal Finances and Overall Satisfaction. Factors evaluated include access to health services, ease of making friends, work balance and economic opportunities. Each aspect is scored on a scale of 1 to 7 and the data is weighted according to the profile of the respondents. In addition, the report ranks countries and analyzes demographic results, providing a useful tool for expatriates and organizations seeking to improve the international experience.
Why Panama?
The tropical climate, with year-round sunshine, is one of the main attractions mentioned by expatriates. This, combined with a friendly local community and a growing group of foreigners, facilitates integration and makes Panama a place that quickly feels like home. In the words of the report: “Panama stands out for its ability to offer expatriates an attractive balance between personal and professional life”.
The report highlights the ease with which expatriates can settle in Panama. The country’s immigration policies are designed to attract international talent and retirees. Programs such as the Pensionado Visa, which offers exclusive benefits, and the ease of setting up businesses or working legally, are points that expatriates greatly appreciate. In addition, InterNations notes that language is not usually a major barrier, as much of the population speaks English, especially in urban and tourist areas.
The cost of living is also competitive compared to other destinations preferred by expatriates, such as Europe or North America. Although Panama City may have a higher price level compared to other regions of the country, it still offers excellent value for money in terms of goods, services and infrastructure.
Connection and comfort in a strategic environment
Another of the great advantages that InterNations highlights about Panama is its strategic location. Its geographical position, which connects North and South America, and its role as an important logistics hub, make it a hub for business and travel. Air connectivity through Tocumen International Airport, known as the “Hub of the Americas,” facilitates mobility for both expatriates and international companies.
The country’s modern infrastructure, including roads, telecommunications and utilities, also receives a positive score in the report. “Panama is a place where the modern and the traditional coexist harmoniously, creating an attractive environment for expatriates,” notes InterNations.
The country not only stands out for its practical advantages; its quality of life is another aspect that expatriates value highly. With an impressive geographic diversity, the country offers everything from paradisiacal beaches in Bocas del Toro to cool mountains in Boquete, ideal for those seeking tranquility and connection with nature. According to the report, “expatriates appreciate the opportunity to enjoy both vibrant city life and getaways to world-class natural destinations.”
In addition, Panama City’s multicultural atmosphere and dynamism offer a cosmopolitan experience, with international restaurants, cultural events and a growing entertainment offer. All of this contributes to expatriates feeling integrated and satisfied with their experience in the country.
A destination with a welcoming soul
The InterNations study also highlights the intangible value of Panamanian hospitality. Expatriates rate the friendliness of locals positively, noting that this characteristic facilitates adaptation and creates an atmosphere of warmth and closeness. One expat quoted in the report sums it up, “In Panama, you never feel alone; people are always willing to help and include you.”
Although no destination is perfect, the negative points mentioned in the report, such as traffic in urban areas or certain challenges in public services, are far outweighed by the many advantages the country offers. For most expatriates, these are minor considerations in the face of Panama’s enormous overall appeal.
Panama is emerging as an exceptional destination for expatriates in 2024, as confirmed by the InterNations report. With a unique balance of economic opportunities, quality of life and a warm and welcoming environment, the country continues to attract those looking for a fresh start. If you are thinking of moving abroad, Panama is certainly a place worth considering.
