The Advantages of Living in Panama

One thing’s for sure.

Panama tops the list of the highly recommended places in the world to live in. primarily it is because of the fact that you can do both business and relaxation with ease. All in all, Panama is a great place to spend the rest of your life and money with. Here are some of the reasons why:

LOW COST OF LIVING

According to a 2012 report, Panama is one among the top ten least costly cities in the world especially for foreigners. Not to mention, it has the best program for retirees in the world. Panamanian government really has concrete programs to attract retiring foreigners in their land. Along with the many discounts and benefits to avail are entertainment, transportation, medical supplies, home loans, and even hotel accommodations. The only thing you need is a certification of $500 monthly income, police report, and a health certificate. 

SECURITY AND SAFETY

In line with other South American countries, Panama has the lowest crime rate in general. Here, you don’t have to worry putting your wallet in your pocket and carrying large amount of dollars. In fact, crime rate has a dramatic decline to about 28%. Moreover, Panama doesn’t experience hurricanes and earthquake than any other countries. So be it with crime or natural calamity, there is no safer place than Panama.

THE PANAMANIAN PEOPLE

The Panamanians are one of the friendliest races in the world. Probably because of their rich history of dealing with foreigners, the country became globalized. Also, they are fun-loving people. Evidences can be traced to their festive celebrations and active nightlife. Lastly, what makes Panamanian people unique is their strong values for elegance and beauty.

NO BORING MOMENT

Being a small nation didn’t limit Panama for being a home to world-class activities and attractions. Anyone can say that this country is so blessed with many beautiful amenities and side trips to do  – hiking in rainforests, beach lounging, mountain trekking, diving, partying and a whole lot more. It is not that hard to experience the wonders of Panama. Here you can also enjoy shopping, high speed internet services, great restaurants with a variety of awesome venues to choose from. 

FASTEST GROWING ECONOMY

Panama has the fastest growing economy in America. In fact, its Gross Domestic Product rises from 7-10% each year from 2009. Significantly, it has one of the most secured financial systems in the world.

All about Panama Canal

The Panama Canal is a 48-mile ship canal along Isthmus in Panama that connects the Atlantic and the Pacific Ocean. This international maritime trade route saves about 1000 miles of travelling the Cape Horn, along the southern tip of South America. The construction of Panama Canal is considered as one among the largest and most crucial engineering projects ever undertaken. 

HISTORY

In 16th century, Vasco Nunez de Balboa, the first European to approach the Pacific, first saw the possibility of building a canal that will connect the Pacific and Atlantic Oceans. Before, Panama was part of the country of Columbia but when the later opposed the proposal of the United States in building a canal, a revolution supported by the U.S. led to freedom of Panama in 1903. The Panamanian government gave authority to French Philippe Bunau-Varilla to organize a treaty between United States that allowed for the construction of the canal. 

The Panama Canal was built from 1904 to 1914 though the French first attempted to build it in the 1880s with the cost of about 400 million U.S. dollars. 

THE CANAL SYSTEM

The canal consists of artificial lakes, three sets of locks and several improved and artificial channels. At the time of the canal’s construction, Gatun Lake, formed by the canal is the largest artificial lake in the world. The Alajuela Lake is an additional lake that acts as a reservoir for the canal. 

The locks, (water filled chambers) are the Gatun, Pedro Miguel and the Miraflores locks. These are responsible for raising or lowing ships from one level to another. These are also built in pairs to allow passage of ships in both directions at the same time. 

SOME POINTS OF INTEREST

Disease is the primary obstacle in building the Panama Canal. At that time, Panama was one of the most disease-ridden countries in the world not to mention numerous cases of yellow fever and malaria.

The cargo ship Ancon was the first vessel to pass through the canal on August 15, 1914.  A giant landslide occurred in 1915 in Gaillard Cut causing the Canal to close for several months.  The highest Canal toll was US $ 141,344.91 made by Crown Princess, a passenger superliner; the lowest toll ever paid was 36 cents by Richard Halliburton for swimming through the Canal in 1928.  John Stevens is considered to be the mastermind behind the construction of the canal. He designed the lock system of the Canal but he resigned from his position before the completion of the project.