Share the article
Last updated
Digital nomads are returning to Latin America in droves as countries in the region have normalized entry rules and even launched migration paths unique to the category.
LatAm (as it is commonly called in its short form) is Openly challenge Europe and Southeast Asia for the title of number one nomad hotspot, and one nation in particular is playing a key role in furthering that cause.
Located on the Central American Isthmus and bordering Costa Rica and Colombia, Panama is simply the perfect destination for digital nomads, and here are four of the top reasons why:
Beautiful natural landscape
While they are certainly not a homogeneous group and there are subcategories within the group, the fact is that most digital nomads prefer warmer, tropical climates when choosing a new country to call home, even if only temporarily .
That’s because the majority of them come from large cities in naturally colder countries in the Northern Hemisphere, where nature may not be as abundant and winters can be particularly harsh.
In a way, it’s not a surprise as many as 80,000 Americans now reside in Panamaas the country is widely known for its wealth of natural resources and tropical weather conditions.
With coastlines on both the Caribbean and Pacific Oceans and a warm year-round climate, it is an incredibly attractive destination not only for tourists and retired expats, but especially for remote workers looking for a higher quality of life.
Outside Panama City, the country’s capital and largest city, nomads will find an abundance of protected reserves, jungle parks, and a whopping 1,700 miles of combined coastline (both Caribbean and Pacific) dotted with scenic beach towns.
If you long for a slow life, and the sight of tall coconut trees along soft sand bordered by the azure Pacific Ocean has been in your dreams lately, you should definitely consider moving to Bocas del Toroone of the best equipped towns in Colon, a paradise island surrounded by blue-green water.
Famous for its nomad-friendly facilities, including internet cafes and long-term rentals, and untouched nature, it one of Panama’s most sought after nomadic centers.
Better infrastructure than most Central American countries
The better than average infrastructure is another reason why nomads are in love with Panama.
It’s no secret that they tend to focus on countries where there is already an established expat community, as this promotes integration, and the presence of foreigners and the influx of dollars are known to drive development in a given city.
Panama City is easy one of the most nomad-friendly capitals in Latin America:
It’s big, but not overwhelming like São Paulo; as a regional hub for businesses, it has an entrepreneurial spirit and an abundance of coworking spaces, just like Mexico City; the Quality of Life score is ‘good’, as reported by NomadsListand the safety levels are ‘okay’.
Other popular nomadic centers in Panama include Santiago, one of the country’s most traditional and best-preserved colonial cities, home to a historic Spanish-built cathedral, Colón, a medium-sized city on the Caribbean coast and a fast-growing financial center, and third largest city, Tocumen.
Outside of urban areas, the internet connection may not be as strong and the infrastructure for nomads may be lacking, especially in the heart of the jungle, but that still doesn’t change the fact that Panamanian cities are very well prepared to accommodate remote workers. .
Panama is relatively affordable
Affordability is yet another major factor behind Panama’s increasing popularity among nomads.
A majority of long-term travelers who fall into this category are budget-conscious, meaning they carefully choose destinations based on affordability and how far their hard-earned dollars can stretch, as in most cases they are freelance writers who are used to planning their financial year . well ahead.
In this regard, Panama is incredibly cheap for American and European nomads, with major cities like the capital requiring residents to spend an average of one month $2,575 per monthincluding food, accommodation and leisure activities.
It’s certainly not as cheap as neighboring Colombia, where development isn’t as pronounced and so the cost of living is a lot lower, but considering the average nomad earns somewhere between $50,000 and $80,000 a yearPanama is a fairly safe choice for a temporary move that won’t break the bank.
As reported by NumbeoOn average, each time you eat a meal at a budget restaurant will only cost you $10, although mid- and high-end restaurants can charge you as much as $60.
In addition, the rent up to 38.2% lower than the average Western city, such as Paris or London.
Panama is open to digital nomads
Finally, Panama has been leading the nomadic community travel trends lately due to its friendly policies towards long-term residents and digital nomads.
Historically, the country has always been open to foreign investment, acting as the natural gateway between South and North America, thus benefiting from intercontinental trade and the influx of foreign capital.
It has never been particularly difficult to obtain permanent residency in Panama, but when it comes to digital nomads specifically, they are taking advantage of their ownShort-term external employee‘visa, which allows them to stay in the territory for a certain period initially a maximum of 9 months.
Before that period expires, they are invited to extend their visa for another nine months, without leaving the territory, if they wish, with each application costing a very reasonable $300.
Any initial application must be submitted through a Panamanian embassy or consulate in the applicant’s home country or current country of residence, and only those who meet the minimum annual income of approximately $36,000 may qualify.
As a digital nomad in Panama on the Short Term Remote Worker visa, you may be eligible for some form of tax exemption.
If the bureaucracy sounds daunting, you can still move to Panama up to 180 daysor 6 months, as a tourist, if you have US citizenship.
Read more:
Top 5 Travel Insurance Plans for 2023 from $10 per week
How to easily earn points for free travel
SUBSCRIBE TO OUR LATEST POSTS
Enter your email address to subscribe to the latest Travel Off Path breaking travel news, delivered straight to your inbox.
This article originally appeared on TravelOffPath.com
