For the last 10 years, the country has been leading the rankings in the magazine International Living. There are multiple reasons for this including weather as well as connectivity. Without a doubt, there is one reason that overshadows the others: the National Program for Retirees and the Elderly. 

On June 16, 1987, Law 6 was enacted stating the benefits for all retired and elderly citizens. This law grants a series of guaranteed rights to both Panamanian citizens as well as foreign residents in the country. 

These benefits are allowed to all women over 55 years old and men over 60 years old with a valid identity card or their retiree card as well as the document that recognizes the person as a resident of the country. 

Amongst the benefits of this law some highlights are: 

• 50% discount on ticket prices that include recreational activities (movie theaters, theaters, sports and other public shows)
• 30% discount on travel tickets in local buses, trains and boats.
• 25% discount on airfare in public airlines or private national and international airlines.
• 25% discount on individual consumption in any restaurant.
• 25% discount in the fees of public and private entities including water and energy.

Additional Reasons

However, there are more reasons that place Panama as a unique country for retirement. For example, its weather. With two established seasons, the area where the country is located is far from the so called “Hurricane Pathway”, which apart from a couple of heavy storms, the possibilities of a climatic catastrophe are low. Furthermore, depending on the selected area, the temperatures can get cooler.  

Economic stability and connectivity are two other reasons that help place the country as a leader in the ranking. The economy is based on the dollar, leading to low inflation levels, and with one of the highest growth levels of the American region, becoming a strategic place for business due to the legal security and tax benefits that the country offers.

Similarly, given its privileged geographical position and with one of the best airports of the region, Panama is not far from anywhere and it counts with the presence of multiple international airlines which connects it to the world.   

Panama opens its arms to foreigners and offers all the assurance for a pleasant stay. 

This information was developed by Panama Living, a digital platform committed to collecting, researching, and disseminating all the necessary information to turn your interest in Panama into a pleasant and enriching experience.