Panama Quality and Cost of Living
It's a beautiful country with stunning beaches, and you can't beat the price! Panama offers both an affordable lifestyle and enviable cost of living.
Panama is a country that has world-class quality of life. The citizens have access to all the standard amenities that their counterparts in other first world countries might take for granted (for example, they have modern public transportation systems). But what really makes Panama such a great place to live is its low cost of living. This means that your salary will go much further than it would elsewhere. For instance, a person earning $4,000 per month in the United States would be able to live like a king here.
In this article we'll discuss the standard of living issues: housing, transportation and telecommunications. In future articles we'll cover the lifestyle issues: restaurants and entertainment, community activities, sports and outdoor activities.
Housing: The biggest cost in Panama is housing. You can find a small studio apartment for as little as $300 per month (though it may be very basic), but that won't get you much more than a bed and table with two chairs. You can find considerably larger apartments for $800 or less per month (and these usually come furnished). You will need to go out and buy some furniture, but it's not a very significant expense.
The other big cost of housing is public utilities, and there are inexpensive options here as well. Utilities for a studio apartment typically run at $10-$15 per month (but you can find gas which runs at $1 per gallon). You could probably pay between $25-$40 per month for Internet service in Panama, depending on where you go. Cell phone service is completely free.
The big question for most people is what they have to spend on transportation. The answer is not much at all: it really depends on how much you move around each day in Panama City and beyond.
The cost of transportation is the cheapest in Panama. Even a taxi tends to be $2-$3 per ride, which is significantly cheaper than other places. The cheapest way to get around the cities is to take public transportation. Buses will run you about $1 per ride, while taxis are just 25 cents each (plus a tip). There are also buses that run to the beaches of Panama, and these are a little more expensive at $1.50 per ride each way.
Transportation is much cheaper in the mountains, however. There are less people living outside of the cities and so less driving. You can find a taxi for as little as 25 cents per ride, and then you might cross town by bus for just $3 each way. That's still a cheap price to pay for the freedom of moving around wherever you want to go.
Telecommunications: It's no surprise that communication is relatively cheap in Panama because there are almost no telemarketers calling you at home or on your cell phone every half hour out of desperation for your business. The most expensive option for communication is probably satellite TV (about $5 monthly). Internet service runs about $20-$25 per month, but this will depend on your subscription. Cell phones are cheap, and you can buy a cheap cell phone for as little as $10 (or you can pay up to $150 or so for a fancy cell phone with all the bells and whistles).
Restaurants: Restaurants are cheap in Panama. Typical theme restaurants cost about $15 per person. A typical lunch is around $4-6 per person.
Groceries: In fact, food is cheaper than any other country I've lived in (in Asia and the United States). Groceries typically cost about $12-$15 per month. You can find great deals on fruits and vegetables, as well as small packages of all your favorite American foods like potato chips, brown bread and Kellogg's cereal.
Entertainment: From a cost perspective there's nothing you won't be able to do on the cheap in Panama. There are no restrictions on age or sex, and so you can go out to the bars dancing, drinking (alcohol is just $1 per drink), and socializing with friends for very little money.
Community Activity: If you want to get out in the community then you can do so cheaply in Panama. Most major cities have public swimming pools, for example. You can also go jogging, walk around the parks and participate in many community sponsored activities (like getting your teeth cleaned by the local orthodontist for just a few dollars).
Sports and Outdoor Activities: People often tell me they don't have time to combine their life into a single activity. In Panama you have all the time in the world so you can do whatever you want. If you like baseball, then go to the baseball stadium and play for free. If you like ice skating, then go to an ice rink and skate all day long for free. Want to go fishing? You can go to the beach and fish for free. Panama has all kinds of excellent activities that you can take advantage of, and that is why I call this country a paradise on earth!
About the author:
David M Singer is the author of The Expat Desk Reference , available in eBook and print editions at http://www.expatdeskreference.com/index.php?main_page=product_info&products_id=183 . He spent 30 years abroad working as a freelance business writer, and now teaches people how to live abroad on his website www.expatdeskreference.com . He is a graduate of the Ohio State University and has an MBA. He's an expert on Panama and has lived there since April 2004.
Conclusion:
I think Panama is a great place to live because it's a cheap country, and yet you have so much to do. You can go out dancing every night of the week if you want. You can go fishing every weekend or play baseball every day if that's your thing. And the cost of living is on a par with America and Europe, while the lifestyle is so much better!
Now that you've read this article I'd like to invite you to take an honest evaluation of your life.