Country Article / Postcards

Our 15-year-old Prediction Comes True

Date: 06/09/2007

Not to appear overly self-satisfied, but I've got to say it: We called this more than 15 years ago. And, in the decade-and-a-half since, we've taken every opportunity to remind you of our position and our many related recommendations. As I write, we're more sold on Panama than ever. And more bullish on its future prospects.

I hope, by now, you've taken our advice and staked some position for yourself in this country. If not, listen up, dear reader. This market is fast-evolving. No, it's not too late. In fact, the current combination of factors, local and global, is irresistible. But the world's attention and capital are being drawn to this little country in ever-greater quantities. If you haven't acted already, I'd suggest you get moving.

We've told you for years that Panama City is just like Miami. Today, I want to evolve that simile. Panama City is not only like Miami…it is the new Miami. This isn't a prediction of something that could happen in the future. This is a statement of reality. World events and prejudices are conspiring to help catapult Panama, especially its capital, to a new position of global importance.

For decades, Latinos who could have traveled to Miami for fun and, especially, for the shopping. The city has served as an extension of Central America, its shopping hub. This is changing. Latinos with the money to make the trip no longer want to. You can't blame them. In the current Homeland Security climate, what kind of fool would choose to pass through a U.S. airport if he didn't have to? U.S. airports today mean headaches and delays. I avoid them at all costs. (UK airports, too, but that's beside the point right now.)

Savvy Latinos are choosing instead to do their shopping in Panama City…where they're not hassled as they enter and leave the country…and where the prices are about half those up Miami-way.

And, as we've been pointing out to for a very long time to anyone who'd listen, the relatively low cost of living is just the start of this country's advantages. In addition, it's a banking haven. And a tax haven. It's safe (safer than Miami, certainly). And it's nearby and readily accessible. Really, for someone coming from the West Coast, what's the difference between traveling to Florida…and traveling to Panama?

Furthermore, as we've been reporting regularly for the past couple of years, Panama City is in the middle of a construction boom to rival that in Shanghai and Dubai…being topped off right now with The Donald's new 65-story downtown tower.

Trump's arrival on this scene is a sign…a signal that this Banana Republic can no longer rightly be described that way. Panama is an increasingly sophisticated destination that, critically right now, is not in the States. And its capital is only the beginning of the story. Beyond Panama City are beaches, islands, pristine rainforest…

What more could you ask for?

Panama has been one of our favorite overseas havens for more than a decade. Longtime readers, by now, may be tired of hearing us remind you of its benefits and attractions.

Yes, we may be singing a same old song, but we're picking up the tempo. And, frankly, we're finding ourselves infatuated by what this place has to offer all over again.

We're also finding it increasingly difficult to keep up with what has become a fast-changing marketplace. That's why we're gathering together our top Panama experts, Aug. 2-4, in Panama City. How can you best position yourself in the New Panama? We'll discuss this with a small group of readers at our Live and Prosper in Panama Seminar. For details on how to join us, click here.

Kathleen Peddicord
Publisher, International Living

P.S. Longtime friend and contributor to International Living Doug Casey visited Panama recently. His report reinforces our long-held position. As Doug told readers of his "International Speculator" (http://www.caseyresearch.com): "There was one incident I think really illustrates well why I'm so bullish on Panama. One day we had lunch in a new museum overlooking one of the locks. It was a beautifully catered affair, with many local dignitaries and business people present, affording a fantastic view of the container ships as they passed through. However, before the U.S. turned the canal over to the Panamanians, all there had been on the spot was a set of old bleachers, erected who knows how many years ago by the Army Corps of Engineers. Think about that contrast for a moment. U.S. thinking about the canal was (and still is) primarily military. The Panamanians see the marketing potential of what they have. Everything was like that. From the virgin forest to the high-tech high-rises, there is an energy about the place that speaks of a people who know they have an edge in the global marketplace--and the will to exploit it.

"Panama City is clearly on the road to becoming the Dubai of this hemisphere. The world needs two, three--many Dubais. If only because of location, Panama is going to be the next one out of the box. Panama City may not have the class and style of BA, but neither does Dubai. And, once you get out of the city, you've got thousands of square miles of pristine jungle and beachfronts. And unlike Dubai, Panama is a racial and religious mix, and race and religion are complete non-issues. Dubai, for all its advantages, is Arab and Muslim, limiting its appeal.

"Panama is a good place for both your money and yourself. I urge you to check it out."

* The Time For Panama Has Come *

We've been telling you about the benefits, beauties and advantages of Panama for more than a decade--a country that should be at the top of the list of every would-be overseas retiree, resident, investor, and entrepreneur. There are still deals to be had, places to discover, and an enviable lifestyle waiting for you to call it your own. We just don't want to see you put it off much longer--and run the risk of missing out.