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It is
difficult to compare three countries with such diverse people,
landscapes and economies…but we’ll try here. I personally
really like all three, and currently split my time between Costa
Rica and Panama. Whether you are deciding upon residing or
investing in (from north to south) Nicaragua, Costa Rica or
Panama, you will certainly enjoy the moderate year long weather.
All three countries have highlands that offer a reprieve from
the warmer coastal temperatures. All three also share similar
rainy seasons (May- November) and dry seasons (December-April).
Of the three,
Costa Rica ranks as the most expensive place to purchase
property, with Panama in 2nd place, followed
distantly by Nicaragua. Although Nicaragua has the most
affordable property, Panama and Costa Rica offer greater
security, government stability, and in general, superior
infrastructure. Nicaragua is showing signs of tourism and
investment growth, while Costa Rica continues to be strong and
Panama is growing at breakneck speed and could catch Costa Rica
soon.
North
Americans definitely stand out more in Nicaragua, for natives
mainly occupy it and they receive more attention amongst the
people. In Panama, the presence of North Americans is routine
and due to the incredibly diversity of Panama City, it’s almost
possible for “gringos” to blend in. In Costa Rica, North
Americans and Europeans are a regular and almost accepted part
of the social fabric and it is hard to find a place so remote
that there is not one gringo or at least a fluent English
speaker. All three situations can be seen as an advantage or
disadvantage, depending on your personal preference.
Nicaragua
is a relatively poor country, whereas Panama’s economy, driven
by the Canal and banking services and use of the U.S. dollar is
quite strong. Costa Rica does a fantastic job in tourism and
the government there has done a fine job of promoting Costa Rica
when compared to Panama. This can also be seen as a
disadvantage for some investors, as nearly everywhere you go in
Costa Rica, tourism has driven up prices. Panama is known for
having serene, secluded beaches, where only you, the sand, and
water reside.
Tourism is
by far the most developed in Costa Rica, with dozens of
destinations and hundreds of hotels nationwide. Regional
airlines whisk clients to many of these destinations and tourism
businesses are all fairly well run. This is not the case yet in
Nicaragua or Panama, although tourism is growing in both
countries. Panama has one huge advantage over all three in that
the highway system is excellent.
Healthcare in Panama and Costa Rica is
excellent, meeting even First-World standards. San Jose has a
Baylor-related hospital and Panama City one from Johns Hopkins.
Not yet the case in Nicaragua, although healthcare in all three
is certainly more affordable than in the U.S.
English is spoken the most in Costa Rica,
then Panama, and Nicaragua falling far behind where hardly
anyone speaks English (yet). Cost of living in Nicaragua is most
affordable, although access to some goods and services can be
difficult. Costa Rica still has some affordable places to live,
but prices are rising. Panama is surprisingly affordable, but
it’s dual economy (one for poor, one for rich) means that you
need to know where to go to live on the cheap. You can have a
beer for $1 or $8, depending on the locale. The downside of
cost of living in Panama City is that because of warmer
temperatures, you’ll probably need air conditioning. Not the
case in San Jose, Costa Rica. One of Panama’s greatest
advantages is that thanks to the Canal and low tariffs, it’s
easy to get just about any product imaginable, from electronics
to building supplies.
All three offer excellent opportunities
for investors, depending on your capacity for risk, adventure
and desire for short or long-term returns.
# # #
Articles reprinted with permission
from
www.ThePanamaReport.com
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