There have been plenty of reasons to live and invest in Panama over the past few years, but as we end 2015, it’s becoming apparent; 2016 will be a great year to live and invest in Panama. The reasons are many, and each person who decides to live and invest here has their own. However, if you look at past growth and future predictions, Panama is becoming more and more appealing. Here are 7 great reasons why next year should be your year to make the move.
- The Panama Canal Expansion Project. Despite delays, the new and improved Canal is scheduled to open in 2016, and it will have a major positive impact on Panama’s economy. If you decide to live and invest in Panama, this project will unavoidably affect you; and that’s a good thing, across the board.
- The real estate market is hot. Whether renting or buying, new properties abound in Panama these days, and 2016 is set to be a banner year for you to invest in Panama real estate. New developments in Panamas beaches, the capital, and its suburbs are drawing lots of attention from new residents and investors. Prices are good, and future value speculation is very positive, especially for foreign investment.
- Infrastructure upgrades. Panama’s construction boom has been well documented, and their infrastructure has grown right along with it. The 2nd line of the Panama Metro is slated to begin in 2016, as well as major benchmarks in clean water projects in the bay, and completion of major enhancements to the Panamerican Highway.
- Strong US Dollar. Panama has long been on the US dollar, and this has given the country a strategic advantage with the dollar surging. As we approach 2016, Panama’s dollarized economy is stabilizing foreign investment, as many of the region’s other currencies are plummeting. Living and investing in Panama is the most secure bet for Central America, and many would argue Latin America as a whole; and this has a lot to do with the dollarized economy.
- Transportation and logistics expansion. By 2016, Panama will have close to 100 direct flights coming in and out of the country, increased cruise traffic, improved national highways, and be home to the world’s longest flight from Dubai. The nation’s biggest airport, Tocumen will finish its billion dollar terminal expansion, meaning that we can expect even more airlines and direct flights to be announced in 2016.
- Major Free Trade Agreements. Panama currently has Free Trade Agreements with the US, China, and Canada, and in 2016 you can add Mexico to that list. Mexico’s FTA is a strategic trade partnership that will allow Panamanian businesses to import vital materials, as well as export products and agriculture with Latin America’s 2nd largest economy. When you live and invest in Panama, it’s important to have reasonably priced imports and the ability to export without hassle.
- Quality of life index. Each year for the past 3 years, Panama has ranked either #1 or #2 on Gallup’s Global Well-Being Index. And while stats are just stats, when you live in Panama you’ll soon agree. Panama has an extremely high quality of life standard, and it improves each year. Stable economy, lots of jobs, low inflation, great weather, and relative political stability are all factors that lead to this result. Plus, Panamanians are known for being happy and laid back. If you’re looking to live and invest in Panama, you’ll not only be making a business move, but a quality of life move as well.
For more on how you can live and invest in Panama in 2016, or any time, we can help answer your questions, and put you on the right path. Contact us today for a consultation.
