Living in Panama
Panama occupies a unique and strategically advantageous location, bordered by the Caribbean Sea to the north and the Pacific Ocean to the south. It is also connected to Colombia to the southeast and Costa Rica to the west, making it a key point for international trade and travel. Situated on the Isthmus of Panama, the narrow land bridge that connects North America to South America, the country serves as a vital transit hub.
Colonized by Spain in the 16th century, Panama gained its independence in 1821 and is a founding member of the United Nations.
Natural Wonders and Ecological Commitment
Panama boasts a diverse and rich natural landscape, with five distinct ecosystems, including rainforests, deserts, and coastal beaches along both the Caribbean Sea and Pacific Ocean. All of these natural wonders are just a short drive from the capital, Panama City. One of the country’s standout features is Baru Volcano in Chiriqui province, the highest point in Panama and the 12th-highest peak in Central America. Visitors to Baru can view both the Atlantic and Pacific Oceans simultaneously, making it a truly unique experience. Thanks to its fertile volcanic soil, Chiriqui is also famous for producing geisha coffee, one of the world’s most expensive and sought-after coffee varieties.
In Bocas del Toro province, located along the Caribbean coast, visitors can experience the unspoiled beauty of a tropical rainforest, a rich marine ecosystem, and a unique island culture. Bocas del Toro is home to the Nivida Bat Cave and boasts 95% of the Caribbean’s coral species. This province is a prime example of Panama’s dedication to preserving its ecological integrity. It is also home to Panama’s first Mission Blue Hope Spot, a global initiative for marine ecosystem conservation, highlighting the country’s commitment to sustainability and environmental stewardship.
A Rich and Preserved Cultural Heritage
Panama’s cultural landscape is as diverse as its natural one, with seven different indigenous communities living in harmony with modern society. The country’s Afro-Caribbean roots and Spanish colonial influences are woven throughout its cities, towns, and daily life, reflected in its vibrant gastronomy, music, and traditions.
Panama City, the country’s cosmopolitan capital, blends modern architecture with historic charm. The city’s Casco Antiguo, or “Old Quarter,” is a UNESCO World Heritage Site, home to colonial-era churches, the Plaza de Francia, and a number of celebrated museums, such as the Museo del Canal and the Museo de la Mola. This historic district is a cultural hub, where visitors can enjoy vibrant music, creative handicrafts, and local artistry, all set against the backdrop of Panama’s rich history.
A Thriving Investment and Trade Hub
Before the global economic downturn caused by the COVID-19 pandemic, Panama had one of the strongest economic growth rates in Latin America and the Caribbean. Between 2014 and 2019, Panama’s economy grew by an average of 4.7%, far outpacing the regional average of just 0.9%.
Panama is a member of several major international organizations, including the United Nations, the Organization of American States, and the Latin American Economic System, making it a key player in regional and global markets.
The Panama Canal, one of the world’s most iconic engineering marvels, is a critical component of global trade. Stretching 65 kilometers, the canal connects the Atlantic and Pacific Oceans, allowing for faster and more efficient sea travel. The canal reduces what would normally be a lengthy and hazardous journey, allowing ships to travel between oceans in just 8 to 10 hours. This vital waterway, just 15 minutes from Panama City, plays a central role in global trade, linking markets across the Americas, Europe, East Asia, and Oceania.
As a high-income country with a rapidly growing economy, Panama has positioned itself as a financial and commercial center for the region. Its growing banking, commerce, and tourism sectors continue to attract foreign investors and entrepreneurs looking for new opportunities in a stable and business-friendly environment.
In Summary
With its strategic location, rich cultural heritage, and thriving economy, Panama offers an appealing blend of natural beauty, modern amenities, and strong investment potential. Whether you’re looking to relocate, invest, or simply explore, Panama’s vibrant culture, economic opportunities, and diverse landscapes make it an exceptional destination for both work and leisure.
