Planning for a Panama Retirement

Your best bets for travel to Panama in October are from Chicago and New York. Both have fares in the $335 range.

Other fares:

October 2009 to Panama City, Panama

From Kansas City: $484

From Omaha: $530

From Los Angeles: $415

From Denver: $499

It never ceases to amaze me how little sense airline fares make. I get an alert every so often from the Kayak travel service with fares to Panama City and other cities in South/Central America, and I can’t figure out how the fares from Omaha to Panama City are lower than from Chicago or other big cities.

Anyway, the latest fare to Panama City from Omaha is only $293 roundtrip. Amazing!

The lowest price from other cities:

• Los Angeles: $344
• Denver: $376
• New York: $325
• Chicago: $344
• Kansas City: $508

I came across a couple of videos about retiring in Panama I thought you might enjoy.

The first is a marketing video for International Living, but even with the soft sales pitch, it’s still informative.

The second video is actually from a piece ABC’s Nightline did about how Panama is becoming a hotspot for Americans who are retiring because the standard of living is high and the cost of living is low.

One of the things I need to figure out as I put together my retirement plan is where to live in Panama.

How do I even figure that out about a foreign country?

Well, I decided the place to start for that information would be the Panama Embassy web site.

On their web site, they list the top five locations preferred the most by retirees.

Top Five Retirement Spots in Panama

The top five retirement spots in Panama, according to the Panama Embassy, are

1. Panama City
2. Boquete
3. Pearl Islands
4. Bocas del Toro
5. Pedasi

I will be researching each of these options further to find out more about the

• cost of living
• lifestyle I can expect
• medical services available
• transportation available
• communications options (Internet, cell phone)
• number of other Americans there

If there are important items I should research that are not on my list, please leave me a comment to let me know.

Some Recent News Articles About Travel to Panama

The Sydney Morning Herald ran a good article about travel to Panama

Many people see the scenery of Panama only in passing, from the deck of a cruise ship passing through the Panama Canal. But if you take the time to visit, you’ll find even more scenic countryside, tropical birds and plants, and reefs for diving.

Budget Travel magazine listed Panama as one of its top 10 budget travel destinations.

…the magazine’s list includes Cambodia for its affordable guesthouses and must-see temples, and Panama, for its eco-tourism and wildlife.

USA Today listed a beach in Bocas del Toro as one of the top seven affordable, less visited beaches

Looking for the next Costa Rica? Just head down the coast a few miles to Panama and the Isla Bastimentos, part of the Bocas del Toro archipelago in the Caribbean Sea, a 20-square-mile island that’s a microcosm of some of Panama’s top tourism offerings. Here you’ll find virgin rainforests home to sloths and monkeys, offshore coral gardens and mangrove islands perfect for snorkeling, and stunning beaches pounded by Hawaii-sized waves.

The island’s Parque Nacional Marino Isla Bastimentos ($10 for admission), which encompasses rainforest, beaches, and coral reefs, is an essential stop for all visitors. Most people come to snorkel the coral gardens and Cayos Zapatillas, two little shoe-shaped islets off the main island. On the land, guides can take you on hikes through the forest to see animals like white-faced capuchin monkeys and poison dart frogs. For the best beaches, go to the northern part of the island. Big waves and strong currents make the beaches unfriendly to swimmers, but the sight of the waves and the lack of bathers makes for postcard-worthy strolls.

According to Kayak.com, here are some of the recent low airfares to Panama City, Panama.

• From Chicago, rates in January start at $346 (January).
• From Omaha, rates in January start at $396 (January).
• From Kansas City, rates in January start at $456 (in February).

Prices remain fairly static from last month.

Here’s a few sights to see in Panama City, as recommended by the Lonely Planet Guide, “Central America on a Shoestring”

Casco Viejo

Casco Viejo is an area where Panama City originally was  several hundred years ago,  before urban expansion pushed the city east. The area is being restored to how it must have looked in past years.

Sights in the area include plazas such as Plaza de la Independencia and Plaza de Francia, churches such as Iglesia de San José, and museums such as Museo del Canal Interoceánico.

Panamá Viejo

The ruins of Pana Viejo, which was founded in 1519, was ruined in 1671 when the Welsh pirate Henry Morgan ransacked and destroyed the city. There are still ruins over a large area, and you can still see the cathedral with its stone tower, the convent of Santo Domingo, and the city hall.

You can also visit the artisans market (Mercado Nacional De Artesanias) or the local museum (Museo De Sitio Panamá Viejo).

Causeway

At the Pacific entrance to the Panama Canal, there is a 2km tree-lined causeway that connects the islands of Naos, Culebra, Perico, and Flamenco to the mainland. The causeway is visited by many locals in the morning and late afternoon to walk, jog, skate, and cycle. This sounds like a nice place to hang out because you can both watch the people and enjoy sweeping views of the skyline and the old city, and watch flocks of brown pelicans diving into the sea.

Museums

In addition to the museums already mentioned, there are a variety of other museums in Panama City to suit your taste. There is the Museo de la Biodiversidad (Museum of Diversity), near the Causeway.

There is the Museo de Arte Contemporáneo (Museum of Contemporary Art) with permanent and changing contemporary art exhibits by prominent Latin-American artists.

There is also the Museo de Ciencias Naturales (Natural Science Museum) with exhibits on natural sciences, the flora, fauna, and geology of Panama. And last, but not least, there is the Panama Canal Administration Building, which depicts the history of the construction of the Panama Canal.

These are just of few of the sights in Panama City mentioned in the Lonely Planet guide. I recommend you pick up this guide yourself before planning your trip to the city.

Good Time to Take a Trip to Panama

According to a recent report by a local Panama newspaper, demand for Panama City hotel rooms has dropped, causing an increase in availability.  That means it’s easier to book a hotel room in Panama on short notice and it means the prices for hotels has come down. All good news for the traveler to Panama.

The interesting thing was that Panama tourism was actually up over the past 12 months by almost 10%. On the other hand, the growth in available hotel rooms has outpaced the growth in Panama tourism. Twenty-five new hotels opened up, and hotel construction beginning this year will add over 19,000 more hotel rooms.

This, along with the warm weather Panama is experiencing right now, makes this a great time to consider a Panama vacation.

This was an interesting press release describing the economic conditions in Panama City, Panama. In particular it discusses the status of the real estate market in the city.

… the City condo market will shift from what has been up to now a seller’s market with prices rising steadily in period of months by up to 100% without rhyme or reason to a BUYERS MARKET.

Although prices may come down, don’t jump in without doing your research. As with any real estate purchase, you need to make sure you know what you’re getting into.

And when you throw in the foreign country component, make sure you take your time, even if it means missing out on a couple of bargains along the way. Better to miss a bargain than buy a lemon.

According to Kayak.com, here are some of the recent low airfares to Panama City, Panama.

• From Chicago, rates in January start at $344.
• From Omaha, rates in January start at $392.
• From Kansas City, rates in January start at $558.

From these samples, you can see how important it is to shop around at local airports as rates can vary quite a bit.