Living in Panama
Last updated on Apr 26, 2024
Summary: People describe life in Panama as vibrant, diverse, and full of opportunity. Expats love the warm climate, the friendly people, the low cost of living, and the abundance of outdoor activities. The average cost of living for an expat is around $1,500 to $2,000 per month, depending on lifestyle. The population of Panama is estimated to be around 4.3 million people, and the largest cities are Panama City, San Miguelito, David, and Colón. The cons of living in Panama include the high cost of imported goods, the lack of public transportation, and the high crime rate in some areas. Additionally, the infrastructure is not as developed as in other countries, and the healthcare system is not as advanced.
What do I need to know about living in Panama?
When we asked people what advice they would give someone preparing to move to Panama, they said:
"Retiring in Panama can be a rewarding experience for expats, as it offers a wide range of activities both outdoors and indoors. It is important for expats to make sure that their financial situation is in order before making the move and to be aware of the cost of living in Panama. They should also research the local customs and regulations for navigating their way around the country. Additionally, expats should consider taking up Spanish lessons to better experience the culture and gain insight into local life. Health care is also something to consider, as most international health insurance plans are not accepted in Panama. Finally, expats should get in touch with like-minded fellow expats to ensure smooth integration into local life," wrote one member in Panama.
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Explore Panama Legal Business for a full suite of legal services tailored to your needs. From obtaining residency and visas to opening bank accounts, obtaining apostilles, conducting background checks, setting up businesses, and navigating real estate transactions, trust our experience and dedication to guide you through every step of the process in Panama.
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About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
Other Questions:
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- Will I be able to find a job in Panama?
- What is life like as an expat in your area?
- What do expats in Panama appreciate most about the local culture?
- What do expats find most challenging?
- Is there a lot of crime in Panama?
- Is there a lot of diversity? Are people in Panama accepting of differences?
- What are the schools in Panama like?
- How are healthcare services in Panama?
- What are medical services in Panama like?
- Are healthcare and health insurance expensive in Panama?
- What are emergency services like in Panama?
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- How are local medical facilities in Panama?
- As a foreigner living in Panama, will I have access to public healthcare? What is it like?
- What have your experiences during the pandemic with the local healthcare system been like?