The dynamics of our Panama Relocation Tours reflect who is moving to Panama. When we first started doing tours in 2010, most of the people on the tour were retirees or people of retirement age looking for business opportunities in Panama.
But over the last five years, things have changed. Now, people in their 30s, 40s, and 50s are coming on the tour and relocating to Panama too. We had a 23-year-old on the January tour. They are not Trust Fund babies who can retire. Nope! These are young people, with no retirement income, who are either digital nomads or those looking for business opportunities with less competition than North America or Europe.
Now, many of our tour clients have an online business so they can live and work anywhere there is an internet connection. Digital nomads are drawn to Panama because of the low cost of living, high-speed internet options, and variety of things to do in the country. They can enjoy the vibrant nightlife in Panama City. They can enjoy water sports or surf in the Pacific or the Caribbean Sea. Or they can enjoy hikes in a rainforest in Panama. There are always things to do in Panama! Plus there are a lot of other digital nomads in Panama so there are always plenty of other, like-minded, people to network with.
A good example is 33-year-old Joel Thomas from Wisconsin. I first met Joel at a real estate investing seminar in California a few years ago. I did the marketing for the seminar so I attended to help get everyone signed in and see many of my real estate investor friends. Joel spent more time out in the hall talking to me about Panama than he did in the classroom. A few months later, he was on a Panama Relocation Tour and was instantly hooked. He was actually thinking about relocating to Chile before learning about all the advantages in Panama. Joel moved to Panama to attend an MBA program at 2/3 less costs than the United States. The instructors are flown in from the United States to Panama City for class on Friday and Saturday. So that leaves the rest of the week for Joel to work for someone else. But he found that it was impossible getting a job until he got his work permit. And you can’t get a work permit until you get your permanent visa. Once he got his work permit, he landed a job with a multinational company making as much, or more than he would if he were working in the United States. What his video below to learn about his life in Panama.