If you’re curious about what your taste buds can expect when you land in Panama, you’re in the right place. Today, we’re counting down the top 10 types of cuisine you can find in Panama. Get ready for a foodie adventure that will have your mouth watering by the end!
 
Number 10 - Caribbean Cuisine
When you think of Caribbean food in Panama, think fresh seafood straight from the ocean, succulent coconut rice, and aromatic curry sauce. The flavors are bold, with a perfect balance of heat and sweetness that will have your tastebuds dancing the salsa.

Be sure to check out Mi Ranchito for authentic Caribbean flavors. They have multiple locations but my favorite one is the one on Amador Causeway. You’ll get great food, a comfortable breeze, and stunning views of the Bay of Panama​.
 
Number 9 - Traditional Panamanian Dishes
If you haven’t tried Panamanian food, you’ll be pleasantly surprised. At a typical restaurant, you’ll find hearty dishes like sancocho, a rich chicken soup that’s both comforting and flavorful. It’s filled with chicken, sweet potatoes, yuca, carrots, and corn that’s still on the cob. You’ll also find one of my favorite dishes, ropa vieja, which is shredded beef that’s slow-cooked with tomatoes and spices. Don’t forget a side of patacones—which are fried plantains—or thick-sliced fried yuca with an aioli dipping sauce.

If you want to try great authentic Panamanian food, Restaurante El Nacional is a family-owned restaurant in Casco Viejo. Be sure to try the chicken Carimañolas, crunchy on the outside but soft and flavorful on the inside. You’ll thank me later.
 
Number 8 - Spanish Food
In Panama, you’ll love the Spanish cuisine, with its savory paellas brimming with saffron-infused rice, seafood, and grilled meat. Tapas are also a big hit here, with small plates like Iberian ham croquetas and cured meats that are perfect for sharing.

Santa Rita in Casco Viejo offers delicious Spanish dishes in a darling restaurant that oozes charm​. They are usually booked, so be sure to make a reservation.
 
Indian Cuisine
Indian food is highly sought after in Panama. Get ready for a symphony of spices with dishes like butter chicken, slow-cooked lamb, and naan bread straight from the tandoor. The combination of rich curries and vibrant spices will leave you craving more.

Sabor de la India is one of the best places in Panama City to experience the rich and diverse flavors of Indian cuisine​. If you want something more elegant, try the Indian menu at El Santuario at the La Compania Hotel in Casco Viejo.
  
Number 6 - Chinese Food
Panama City’s Chinatown, called El Dorado, is where you’ll find authentic dim sum, savory Peking duck, and deliciously sticky sweet-and-sour pork. The fusion of Chinese and Panamanian flavors is something truly special.

Lung Fung Restaurant in El Dorado is known for its delectable Chinese dishes, a favorite among locals and expats alike​.
 
Number 5 - American Eats
It’s not surprise that you can find American food favorites in Panama. These will be casual hangouts, where burgers, steaks, and BBQ ribs reign supreme. Whether you’re craving a juicy cheeseburger with all the fixings, creamy mac ‘n cheese, or spicy hot wings, Panama’s got you covered with all your comfort food favorites.

Slabon is a local chain that offers a mix of American and Panamanian flavors in a fun, laid-back setting​. You can even get two-for-one milkshakes on Sundays.
 
Number 4 - Nikkei Fusion
Nikkei Cuisine is becoming increasingly popular in Panama. It’s a delightful blend of Japanese and Peruvian flavors that creates a unique culinary experience. Nikkei is a feast for the senses, offering dishes like tiraditos, which are similar to sashimi but served with Peruvian sauces. Also look for sushi rolls with a twist, incorporating ingredients like rocoto peppers, which are a spicy grassy-flavored pepper that’s a staple in Peruvian Cuisine. The fusion of these two cultures results in vibrant, fresh, and unexpected flavor combinations that you won’t want to miss.

Restaurante Efimero in the heart of downtown Panama City is my go-to spot for Nikkei fusion. Efimero is known for its creative dishes, refined presentation, and flavors you’ll dream about.
 
Number 3 - Italian Fare
Panama has a large Italian population, thanks to a long-standing reciprocal residency visa. Because of this, you can get authentic Italian cuisine in JUST ABOUT every neighborhood. Panama’s Italian restaurants serve up everything from classic pasta dishes like creamy spaghetti carbonara … to wood-fired pizzas with perfectly crispy crusts. You can almost smell the fresh basil and garlic wafting through the air!

La Vespa Ristorante Vista Mare offers an authentic Italian experience with stunning ocean views​. If you want something more intimate, Vinoteca is a small neighborhood restaurant where you feel like you’re part of the family… and the food will make you want to come back again and again.
 
Number 2 - Japanese Gastronomy
Panama has amazing Japanese food. From fresh sushi and sashimi to savory ramen bowls, to the more contemporary Teppanyaki. Japanese flavors are clean, delicate, and utterly delicious. Imagine the taste of soy, wasabi, and pickled ginger with every bite.
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Makoto is a hidden gem offering some of the best Japanese food in the city​.
 
Honorable Mentions
Before we reveal the top spot, let's give a shout-out to some incredible cuisines that didn’t quite make our Top 10 but are still worth exploring in Panama. French cuisine lovers can find delicate pastries and rich, buttery dishes at spots like Petit Paris. For a taste of Greece, Meze Panama serves up classic Mediterranean flavors. If you’re in the mood for something more unique, traditional Peruvian flavors can be savored at Segundo Muelle. Brazilian steakhouses like Os Segredos Da Carne offer all-you-can-eat churrasco (or what we refer to as Meat-on-a-stick), while Tacontento satisfies those Mexican food cravings with delicious tacos and margaritas. Let’s not forget the hearty German fare at Das Brot and the rare but delightful Scottish influences you can find at The Wallace in Panama City. These cuisines add even more diversity to Panama’s vibrant culinary scene.
 
Number 1 - Panamanian Fusion Cuisine
And finally, at number 1, it’s Panama’s unique fusion cuisine. Here, you’ll find a melting pot of flavors that blend indigenous ingredients with international influences. Dishes like ceviche with a coconut milk and jalapenos… or tamales filled with unexpected flavors highlight the creativity and diversity of Panamanian chefs. 

Maito is a top choice for experiencing the best of Panamanian fusion cuisine​ in an elegant setting. For a more casual but just-as-delicious option, try Fonda Lo Que Hay in Casco Viejo.
 
And there you have it—the top 10 types of cuisine you can expect in Panama. Whether you’re a seasoned foodie or just love exploring new flavors, Panama’s culinary scene has something for everyone. Don’t forget to subscribe for more delicious content, and as always, keep dreaming, keep doing, and keep dining! See you in the next episode of The Panama Podcast!
 

Are you dreaming of the perfect place to retire? Imagine this… you wake up to warm sunshine, breathtaking views, and a low cost of living that lets you STRETCH your retirement fund for a BETTER lifestyle. You’ve worked your whole life. Don’t you deserve a retirement that’s exciting AND affordable? If so, stick around, because we’re counting down the Top 10 reasons why you should consider PANAMA as your ultimate retirement destination. If you’re in retirement mode, trust me, you won’t want to miss this!

#10: Accessibility & Proximity to North America
With Panama’s recent airport expansion of almost a billion dollars, Panama is more accessible than ever. In fact, Panama is just a short flight away from major North American cities like Miami, Houston, Los Angeles, and Toronto. With direct flights available from many locations around the globe, you can easily visit family and friends without the hassle of long, exhausting travel days and multiple layovers. Plus, Panama is in the same time zone as much of North America, spending half the year in Eastern Standard Time … along with New York and Miami… and half the year in Central Standard Time… along with Chicago and Dallas. This means you can stay connected WITHOUT worrying about awkward time differences.

#9: Affordable Healthcare
Quality, affordable healthcare is essential in retirement, and Panama delivers just that—at a fraction of the cost you might be used to in the U.S. Panama boasts excellent private hospitals, many with doctors trained in North America or Europe. And the best part? You can get top-notch care without breaking the bank. Your entire bill will often be lower than your deductible would be in the U.S. But it doesn’t stop there. Health insurance is also much cheaper, often just a few hundred dollars a month, making it easy to maintain your health …while living comfortably.

#8: Expat-Friendly Community
Panama is home to a large, welcoming expat population, which makes adjusting to life here much easier. Whether you’re looking for advice on navigating local customs or just want to make new friends, the expat community in Panama is ready to help. There are clubs, events, and social gatherings designed specifically for retirees, so you’ll never feel isolated or alone. One of the most surprising things to most expats is how easy it is to make friends with other expats in Panama. Because everyone is outside of their home country, people are more welcoming and more open to new experiences.

#7: Modern Infrastructure
Unlike other popular retirement destinations, Panama offers well-developed infrastructure that includes reliable electricity, clean water, high-speed internet, and modern roads. In fact, Panama has committed almost 20 billion dollars over the next 5 years to infrastructure projects. You’ll also find familiar amenities like shopping malls, movie theaters, and even big-box stores like PriceSmart. All these conveniences make day-to-day living easy …and comfortable.

#6: Natural Beauty and Biodiversity
Imagine waking up every day surrounded by some of the world’s most breathtaking landscapes. Panama’s stunning natural beauty and biodiversity make it a great place to live. The country is a haven for nature lovers, offering countless opportunities for outdoor activities like hiking, bird watching, and snorkeling. With over 1,500 islands to explore, you’ll never run out of new places to discover. Plus, Panama is one of the few places where you can have breakfast on the Caribbean, lunch overlooking the Pacific Ocean, and dinner birdwatching in the jungle. From pristine beaches to lush rainforests and majestic mountains, Panama truly has it all.

#5: Low Cost of Living
At number 5, we have Panama’s low cost of living. One of the biggest draws for retirees is how far your dollar can stretch here. Housing, groceries, dining out, and entertainment are all much more affordable compared to the U.S. or Europe. This allows extra money for luxuries like maid service ….and wine. Whether you’re on a fixed income or just want to enjoy more of life’s pleasures, Panama allows you to live well without breaking the bank.

4: The Pensionado Program
Panama’s Pensionado Program is one of the best retirement programs in the world, offering substantial discounts to retirees on things like doctors visits, lab work, entertainment, dining out, and even airfare. Plus, if you’re a Pensionado, you get a special lines in banks, making you an instant VIP. To qualify, you just need a pension income of at least $1,000 per month. These discounts can add up quickly, making retirement in Panama even more affordable …and enjoyable.

#3: Stable Economy and Dollarized Currency
Panama uses the U.S. dollar as its official currency, which eliminates the risk of currency fluctuations and makes it easier for retirees to manage their finances. The country’s economy is also one of the most stable in Latin America, driven by the Panama Canal, international banking, and trade. In fact, over 120 multinational corporations use Panama as their Latin American headquarters. This stability gives you peace of mind, knowing your investments and savings are secure."

#2: Pleasant Climate
Say goodbye to harsh winters and brutal summers… and say hello to year-round nice weather! Panama’s tropical climate means you’ll enjoy plenty of sunshine and mild temperatures, with the average temperature hovering around 80°F (27°C). Whether you prefer the cooler mountain highlands or the warmer beaches, Panama offers a climate that is perfect for your golden years.

#1: Diverse Lifestyle Options
And finally….the number 1 reason why Panama is a great place to retire: Diverse lifestyle options. Whether you’re looking for the hustle and bustle of city life in Panama City, the tranquil beaches of Coronado, or the cooler mountain towns like Boquete, Panama has something for everyone. You can enjoy a relaxed, laid-back lifestyle or dive into a vibrant social scene. This diversity means that no matter what kind of retirement you’re dreaming of, you can find it in Panama.

Is Panama a good place to retire? Absolutely! With its accessibility, affordability, natural beauty, and welcoming community, Panama offers an incredible retirement experience. If you’re considering making the move, these top 10 reasons should give you plenty to think about. 
 
See you in Panama.

When considering a move to Panama or visiting for an extended period, one of the first practical concerns that arises is money: "Can I use US dollars in Panama?" The short answer is yes, but the full explanation is more nuanced.

Panama is a country with a unique relationship to the US dollar, and this connection has deep historical roots that continue to benefit the nation economically today. In this article, we will explore the history of Panama’s currency system, how it functions, and why the use of US dollars is a practical choice for both visitors and expats alike.

A Brief History of Panama’s Currency System
Panama’s currency history begins in the early 20th century when the country gained independence from Colombia in 1903. With newfound sovereignty, Panama faced the immediate challenge of establishing its own currency system. At the time, Panama’s economy was primarily based on trade and, increasingly, on the construction of the Panama Canal, an international venture that brought workers and investors from the United States to the region.

Instead of creating a completely independent currency system, Panama made a strategic decision: it adopted the US dollar as legal tender. However, Panama did not entirely give up the notion of having its own currency. In 1904, it introduced the Balboa, named after Spanish explorer Vasco Núñez de Balboa, who is credited with discovering the Pacific Ocean. The Balboa was set at parity with the US dollar, meaning that one balboa was equal to one US dollar, and they could be used interchangeably within the country.

The Role of the Balboa in Modern Panama
Despite the introduction of the Balboa, Panama never issued paper currency. Instead, the country only mints its own coins, which are equivalent in value to US coins and are used alongside them. The Balboa coins have the same denominations as US coins, including the one-centavo (equivalent to one penny) and the one-Balboa coin (equivalent to one dollar).

So, when you’re in Panama, you may notice that the coins you receive in change are a mix of US and Panamanian currency, but all paper money will be US dollars. This system, in which the US dollar is the primary form of currency but is supplemented by local coins, has worked seamlessly for over a century.

Why Did Panama Adopt the US Dollar?
Panama’s decision to adopt the US dollar was driven by several key factors, all of which still make sense today. Let’s explore some of the reasons behind the choice.

Economic Stability
In 1904, Panama was a young, newly independent nation. Establishing credibility in the global economy was crucial for its growth. By adopting the US dollar, Panama was able to bypass the challenges of maintaining a volatile national currency. The US dollar was already a stable and widely accepted currency, and using it gave Panama instant economic stability and credibility on the international stage. This decision reassured investors and trading partners, many of whom were from the United States, that Panama would be a safe and reliable country in which to do business.

Influence of the Panama Canal
The construction and operation of the Panama Canal, which began in 1904, brought thousands of American workers and billions of dollars of investment into the country. With so much American capital flowing through Panama, the use of US dollars made practical sense. American workers, contractors, and companies involved in the canal project were already accustomed to using dollars, and the adoption of the currency reduced the risk of exchange rate fluctuations.

The canal’s influence on Panama’s economy cannot be overstated. It transformed Panama into a key player in international trade and commerce. By aligning its currency with the US dollar, Panama cemented its role as an essential hub in global trade, further enhancing the country’s economic growth and stability.

Simplification of Trade and Investment
As Panama evolved into a major global shipping and trading center, having a widely recognized and trusted currency facilitated easier transactions with foreign countries. The US dollar is the most traded currency in the world, and by adopting it, Panama made it simpler for international companies to do business within its borders. The dollar’s liquidity and international recognition meant that Panama could more easily attract investment from foreign companies and individuals, boosting its economy in the process.

Moreover, the use of US dollars has encouraged many US citizens to retire in Panama, knowing that they would not need to worry about complex currency conversions or fluctuating exchange rates.

Benefits of Using US Dollars in Panama Today
Panama’s currency system has remained stable for more than a century, and there are several reasons why the continued use of US dollars remains advantageous today.

Ease for Travelers and Expats
For Americans visiting or moving to Panama, the ability to use US dollars is a major convenience. There’s no need to exchange money at airports or deal with fluctuating exchange rates, as is common in other countries. You can simply bring your US dollars and use them for everyday transactions. This ease of use extends beyond just Americans—many visitors from around the world appreciate the familiarity and stability that the US dollar offers in a foreign country.

For expats who choose to retire or invest in Panama, the continued use of US dollars means they can keep a portion of their savings or income in a familiar currency without worrying about exchange rate fluctuations. Since many expats live on fixed incomes or retirement benefits from the US, using US dollars makes it easier to manage their finances and avoid complications that come with currency conversion.

Protection Against Inflation
One of the biggest advantages of using US dollars is protection against inflation. Many Latin American countries have experienced periods of severe inflation, where the value of local currency can plummet, eroding savings and destabilizing economies. By using the US dollar, Panama shields itself from these risks. The US dollar’s global status and the backing of the US Federal Reserve provide a level of financial security that many other countries do not have. This stability is particularly important for both investors and residents, who can be confident that their money will retain its value over time.

Global Trade and Investment Benefits
The use of US dollars also benefits Panama by making international trade and investment simpler. Since the US dollar is the primary currency used in global trade, Panama’s adoption of the dollar reduces friction in cross-border transactions. International businesses are more inclined to operate in Panama, knowing that they can transact in US dollars without worrying about conversion losses or currency instability.

Additionally, Panama is an attractive destination for foreign investors looking to diversify their portfolios. From real estate investments to banking and infrastructure, investors are drawn to the country’s economic stability. The use of US dollars eliminates one of the barriers to entry for these investors, who might otherwise hesitate to invest in a country with an unstable or unfamiliar currency.

Are There Any Drawbacks to Using US Dollars in Panama?
While Panama’s use of the US dollar offers numerous benefits, there are also a few potential downsides. These are not dealbreakers for most people but are worth noting for anyone considering long-term residency or investment in the country.

Limited Monetary Policy Control
One of the main drawbacks is that Panama does not have full control over its monetary policy. Since it uses US dollars and does not issue its own paper currency, Panama cannot adjust its money supply, raise or lower interest rates, or devalue its currency to respond to economic challenges. Instead, Panama is dependent on the monetary policies set by the US Federal Reserve.

While this can be seen as a limitation, it has not been a significant issue for Panama in practice. The country has developed other ways to manage its economy, such as attracting foreign investment, promoting tourism, and leveraging its position as a global trade hub.

Currency Strength and Purchasing Power
Another consideration is the strength of the US dollar in the global market. If the US dollar strengthens significantly, it can increase the cost of living in Panama for residents and expats, especially those who rely on income or assets denominated in other currencies. On the flip side, if the dollar weakens, it could reduce the purchasing power of residents, particularly those who have fixed incomes from abroad.

However, for most Americans living in Panama, this is not a major concern. Since their income is often in US dollars, they are not subject to the same fluctuations in currency strength as they would be in a country with a local currency.

The Future of Panama’s Currency System
As Panama continues to grow economically, there is little indication that it will change its currency system. The use of US dollars has been a fundamental part of the country’s success story, helping it to establish itself as a stable, reliable place for both business and tourism.

With ongoing investment in the country’s infrastructure, real estate market, and financial services industry, Panama’s connection to the US dollar will likely remain strong. Investors, travelers, and expats alike can rest assured that the convenience and stability of using US dollars will continue to be one of the many reasons Panama is such an appealing destination.

Final Thoughts
For anyone considering a move to Panama or investing in the country, the fact that US dollars are used is an undeniable advantage. The historical reasons for Panama’s decision to adopt the US dollar are still relevant today, as the currency provides economic stability, ease of transactions, and a sense of security for both residents and international investors.

The ability to use US dollars without the need for conversion or worrying about currency fluctuations makes Panama an even more attractive destination for American expats, retirees, and tourists. Additionally, the system benefits investors by eliminating one of the risks commonly associated with foreign markets.
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In a world where currency fluctuations can sometimes be unpredictable, Panama’s decision to tie itself to the US dollar has proven to be a smart, forward-thinking strategy—one that continues to work in favor of both the country and those who choose to live, work, or invest in it.

Are you ready to turn your Panama dreams into reality? Whether you're planning a smart investment or a full-time move, it's crucial to know the top 10 TIPS that will secure your investment … and make your transition as smooth as your favorite glass of wine. By spending the next 8 minutes watching this video, you can find out how to avoid costly mistakes that could derail your plans. Stay tuned… and let’s make your DREAM life in Panama… a reality!

Tip Number 10: Understand the Market
Before buying real estate in Panama, you need to understand the market. Panama’s real estate market can vary a lot depending on the region. Whether you’re looking at the bustling metropolis of Panama City… a serene beach town such as Coronado …or a mountain retreat area like Boquete…market trends, property values, and return-on-investment can differ a lot. Knowing these trends helps you make an informed purchase, ensuring you don’t overpay.

Tip Number 9: Understand the Visa and Residency Requirements
If you want to invest in Panama real estate, it’s important to understand the visa and residency requirements. Panama offers several residency programs, including the popular Pensionado Visa for retirees. If you’re not retired, there are many other options, including the Friendly Nations Visa for people from dozens of countries that are considered “friendly” with Panama. If you plan to live in Panama, it's crucial to know which visa options are available to you, and what benefits they offer. This ensures that your move to Panama is smooth and legally sound.

Tip Number 8: Work with a Reputable Real Estate Agent 
When buying property in a new country, you should always work with a reputable real estate agent. An experienced, ENGLISH-SPEAKING agent can guide you through the process, help you avoid common pitfalls, and provide valuable insight into the best neighborhoods and properties. Make sure the agent is licensed, and don’t hesitate to ask for references. After all, if your broker is great, her clients will want to sing her praises. If you’re looking for real estate in Panama, let’s have a glass of wine together and chat about how we can help YOU make the best investment possible.

Tip Number 7: Understand the Legal Process 
When buying property in Panama, the legal process is different from what you might be used to. It's important to familiarize yourself with the buying process, legal fees, and how titles are transferred. Working with a good lawyer is essential, as they’ll help you navigate the legal waters and ensure that your property purchase is legitimate and protected. To get a comprehensive overview of the legal process in Panama, go to ChoosePanama.com/Legal and download our free guide that gives you step-by-step instructions for buying property in Panama.

Tip Number 6: Be Aware of Property Taxes and Fees 
Property taxes in Panama are generally favorable, especially for new construction that often comes with multi-year property tax exonerations. However, you need to be aware of all the tax implications and any additional fees that may apply in the future. Understanding these costs up front will help you budget more effectively and avoid any surprises. As experienced real estate agents, this is something we walk you through for every property that you’re seriously considering.

Tip Number 5: Understand the Rental Market
It’s important to understand the rental market in Panama before investing in a property. In some areas, such as Panama City, demand is stable all year long. But in other areas, such as Boquete and Coronado, the rental market fluctuates with the seasons—bringing higher rental income when it’s cold in North America …but lower demand for the rest of the year. Also, be aware of any rental restrictions. For example, in Panama City, there’s a 45-day minimum rental period by law. If you’re looking for a vacation rental where you can enjoy your vacation home… but still earn rental income when you’re not using it, consider properties in Playa Bonita, which is outside the district of Panama but not as prone to demand fluctuations as Coronado or Boquete.

Tip Number 4: Plan for Maintenance and Property Management
If you’re not planning to live in Panama full-time, you need to consider who will manage and maintain your property. Property management services can ensure your investment is well cared for and even rented out if desired. At Choose Panama, we've been taking care of your paradise properties as if they were our own since 2013, giving you peace of mind whether you're near or far. If we don’t service an area, we’d be happy to recommend a company that we like, know and trust.

Tip Number 3: Look into Financing Options 
When buying a property in Panama, you can get financing … but may be harder to get than you think. Although most expats buy property outright, you can get financing, it’s just not as common. There are two types of financing available. The first, Developer financing, is typically for a limited amount of time, such as five years. You don’t need to qualify for this; you just sign the contract and put down your deposit. Developer financing is easy because the property itself is the collateral. The other type of financing is from a bank, but this is more difficult to get for expats. If you need financing, make sure to discuss this with us early on, as it can affect which properties we show you.

Tip Number 2: Visit the Property In-Person 
Before buying real estate overseas, it’s important to visit the property in person. Photos and videos can be deceiving, and seeing the property firsthand will give you a true sense of its value and suitability. If you want to fly to Panama for a long weekend to see the property of your dreams, we can arrange airport pickup as well as affordable, luxury accommodations. We want this to be both easy--and fun--and we’ll be with you every step of the way.

Tip Number 1: Location, Location, Location
When buying a property in Panama, don’t forget the most important real estate advice—location, location, location. Panama offers diverse environments, from the hustle and bustle of Panama City… to quiet beach towns ….to peaceful mountain retreats. Consider the lifestyle you want, and the return on investment you need…but also think about your exit strategy. How easy will it be to sell the property in the future? Make sure to choose a location that not only fits your lifestyle NOW but also has strong resale potential for the future.

Wrap-Up
With these top 10 tips, you're now equipped to make an informed decision when buying property in Panama. Whether you’re investing … planning to move full-time… or wanting the security of a Plan B… Panama has incredible opportunities if you’re ready to take the plunge. Visit ChoosePanama.com today …and  start your journey to paradise!

If you have questions, reach out to us directly… or just leave a comment below. We’d love to hear from you. Just click here to get in contact with us. 

​Are you curious about the cost of living in Panama? Whether you're considering moving or investing … or you're simply curious about daily expenses, you're in the right place! Today, we’re counting down the Top 10 Things you need to know to understand what it really costs to live in Panama. Ready to dive in? Let’s get started!
 
Number 10 -  Housing
Buying a property in Panama is an excellent investment, whether you're looking for a vacation home, a rental property, or your forever home. Prices vary widely based on location, size, and amenities, but you can find anything from a cozy condo for about $180,000 to a luxury beachfront villa for over a million. For those who prefer to start with renting, we’ve got you covered. Rentals can range from $600 for a modest apartment in a rural area to $5,000 per month for something more upscale in prime locations. Make sure to check out our listings at ChoosePanama.com, and remember, we have many options that aren’t listed online. Reach out directly if you're looking to buy OR rent.
 
Number 9 - Groceries
How much does food cost in Panama? The answer depends on your lifestyle. If you stick to locally sourced food like chicken, fish, eggs, rice, beans, and local fruits and vegetables, your grocery bill will be just a few hundred dollars a month. However, if you mix in imported goods, especially the much-pricier imported refrigerated goods like Bryers ice cream or Philadelphia Cream Cheese… expect your grocery costs to be similar to what you're used to paying in your home country.
 
Number 8 - Eating Out
Panama offers a range of dining experiences. You’ll find plenty of affordable local eateries, called Fondas, where you can eat an entire stick-to-your-ribs meal for around $5. On the opposite side of the spectrum, there are many high-end restaurants, especially in Panama City, that compare to the best restaurants in Miami and New York. Although these are more EXPENSIVE than a Fonda, they’re still a FRACTION of what you would pay in North America or Europe. Plus, the normal tip in Panama is 10% versus the twenty to thirty percent you will expect to pay in the US. [finger up] But wait… there’s more! If you have your Pensionado Visa, you’ll get 25% off your meal. To sum it up, your dining out costs will vary depending on your restaurant choices, but overall, Panama provides EXCELLENT value for your money when it comes to dining out.
 
Number 7 - Transportation
Transportation in Panama is both efficient AND affordable. Public buses and the metro cost less than a dollar per ride, and taxis or Uber rides within Panama City range from $2 to $10, depending on how far you’re going. If you plan to own a car, budget for insurance, which averages about $40 per month for a late model mid-range SUV.
 
Number 6 - Healthcare
Panama offers excellent healthcare options at a fraction of the cost you might be paying now. If you ask most expats, healthcare is one of the areas where Panama really excels in comparison to other countries. Private insurance typically costs between $100 to $200 per month, but you might prefer to pay out of pocket for doctor visits, because they are so affordable. At just $12 to $40 per doctor’s visit, the total bill is less than your deductible would be in the US. Plus, you’re not only paying a lot LESS, but you’re also get concierge-level care. So you’re not comparing apples to apples but rather one apple… to a whole, freshly baked apple pie….There’s just no comparison.
 
Number 5 - Utilities
Your monthly utility costs will depend on your living situation. Cable and Internet usually run between $60 to $80 per month. Basic utilities such as water, gas, and trash collection are often included in Homeowner Association fees. If not, plan on around $20 to $50 per month for water, gas, and trash combined. Electricity is the biggest utility expense, especially if you’re running air conditioning frequently. In cooler climates, this can be as low as $20 per month. In Panama City or the beaches area, this could be $60 to $200 per month, depending on the size of your home… and how much you run your AC.
 
Number 4 - Leisure Activities
Panama offers a variety of leisure activities that are surprisingly affordable. From outdoor adventures like golf or pickle ball… to cultural experiences like live theater or museums… there’s something for everyone. You won't need to break the bank to enjoy a rich, fulfilling lifestyle. For example, regular evening movie tickets are $6.50 but if you have your Pensionado Visa, you get a 50% discount… so a night out at the movies costs just $3.25.
 
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Before we jump into the top three tips, if you’re finding this information helpful, please give this video a thumbs up! And don’t forget to hit the … SUBSCRIBE button and ring the bell so you don’t miss any of our insider tips on living your BEST life in Panama. Now, let’s get back to the countdown!
 
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Number 3 - Domestic Services
One of the biggest lifestyle advantages in Panama is the affordability of domestic services. Whether you need a maid, gardener, handyman, or even a full-time housekeeper, hiring help is surprisingly inexpensive. For example, a part-time maid might cost you as little as $20 to $40 for an entire day, and a full-time live-in housekeeper could be around $400 to $600 per month. Gardeners and handymen also charge modest rates, allowing you to enjoy a higher standard of living with more free time to explore and enjoy everything Panama has to offer.
 
Number 2 - Property Taxes
One of the perks of owning property in Panama is the low property taxes. For most properties, taxes are just a fraction of what you’d pay in North America. Depending on the property, annual property taxes can be as low as 0.1% to 0.5% of the property’s registered value, which is incredibly affordable compared to other countries.
 
Number 1 – Property Insurance
In Panama, the savings on property insurance are nothing short of… well, amazing! Imagine insuring your dream home for just a fraction of what it would cost elsewhere. Here, you’ll pay only 1/10th of 1% of your property’s value in insurance premiums. That means if you own a $350,000 home, your annual cost for structural and fire insurance is just $350. Yes, you heard that right—$350 per YEAR. It’s an unbeatable deal that keeps your home protected without putting a dent in your wallet… making Panama the smart choice for savvy homeowners.
 
That’s it for today’s countdown of the top 10 tips to understand the cost of living in Panama! I hope you found this information valuable as you plan your move or investment. If you’re ready to take the next step, don’t forget to request a free copy of my book, “Panama Uncorked.” It’s packed with even more insider tips, essential checklists, and detailed advice to help you make the most of your new life in Panama.
 
To get your free copy, simply click the link in the description below… or go to ChoosePanama.com.
 
What do you think of our Top 10 Insider Tips? Let us know in the comments below.
 
Thanks for watching. See you in Panama!