This post is not a summary, but contains highlights of the “Retirement Wave Report From Panama Jan 2013.” I find it very worthwhile reading, you may also.
Here is a link to the site where I found the report that I am writing about in this post. http://www.retirementwave.com
I’ve found the site to be full of good information and recommend it to any and all interested in moving to another country or already in Panama. It is very focused, well written and subjective as opposed to a “Retire in Paradise in Panama” piece.
It is also quite long, I will post only a few of the many points made.
The author, Robert Adams, included a commentary, Report from Panama – January 2013.
I really like it when Robert starts off saying “The only important thing is that you go wherever is best for you.” I changed the font color to red since I think it should be easy to see. I feel the same way, it’s your life and you need to do what is in your own best interests. The whole paragraph is below:
” [Posted 8 January 2013] As I have said on numerous occasions at Retirement Wave, it is not at all important to me whether you come to live in Panama or somewhere else. The only important thing is that you go wherever is best for you. I cannot determine that, only you can. But wherever we go, we will be part of global society, whether we like it or not. The “global context” is and will continue to be a part of our lives. So I will begin this report with a brief look at the global context, something that may be useful to you, regardless of where you go.
Here are a few of the many things in the Report that I found interesting or important to me and possibly to you –
”As Minera Panama becomes operational, it will have a very significant impact. This $6 billion ($6,000 million) project is not only one of the largest copper projects underway in the world currently, that total is more than is being spent for the expansion of the Panama Canal. It will provide thousands of jobs, add a few billion to the national treasury, and it could exceed 10% of the nation’s GDP when it reaches full production.”
“Tourism continues to grow”…”nearly 50% arrive from South America…”
GDP (the Gross Domestic Product, an estimate of total wealth of a nation) – “2011’s annual growth 10.6% rate tied us (Panama) for sixth place globally (for comparison, the US ranked 157th, Canada 140th, The UK 185th, and Germany 117th…”
“…Multiple Listing Service, well-known to Canadians and Americans as the MLS, was coming to Panama. They have since built their site, but it is not quite ready yet for the public.”
“Panamanians are capable of doing anything and doing it well, as is true of all people in every nation when they choose to do so, and they are working on it every day. The Canal’s thirteen years since the hand-over from the Americans proves that beyond any doubt.”
”Sometimes I hear someone criticize Panamanians and suggest that they cannot do their jobs well for some cultural reason or similar foolishness. Recently on my Facebook page, I saluted the Panama Canal Authority for the wonderful job they have done of operating the Panama Canal. This huge transportation channel has operated every day, 24 hours a day, only closing once briefly for good reason during the last 13 years of Panamanian administration.”
Panama is a “safe haven” for people from all over Latin America who come from nations with seriously troubled politics and seriously troubled economies. They come because Panama is more stable, secure, free, and welcoming than their own societies. They greatly outnumber North Americans and Europeans. I have said it before and I will say it again, they “vote with their feet”. One thing is clear. Hardly anyone from Panama moves to their nations.
There was a day not so long ago when many, probably most, of these people would have moved to Canada and the US. That has shifted dramatically in the last decade and Panama is now one of their prime destinations today. Thankfully, Panama is itself a “nation of immigrants” and can handle this influx of foreigners better than most nations. It is not that we do not have our own problems, our own disputes, our own political divisions, but they are typical of any democracy and they pale in comparison to that which these other people must face.
So here is a suggestion. If you feel that you are being “crushed” by the on-going political and economic conflict in your nation, give serious thought to moving somewhere else, wherever that might be, where you can enjoy a little peace and the benefits of a growing economy, not a declining economy. All we ask is that you pack up your anger, should you feel any, and leave it back there. If you are coming here, or any other nation, start fresh. Be flexible, smile, contribute when you can in a friendly manner to a growing society and a dynamic economy, and be thankful you have somewhere to go that welcomes you.
”… every one of you who has ever read one of these reports knows exactly what comes next and how important it is to read it, so let us do that together.
No one knows the future. Free markets go up and free markets go down. The future is not a simple extrapolation of the present. Anything can happen. Everyone has an opinion and those words above are just opinions.”