They’re two of the best retirement countries on our beat...and when it comes to deciding on the ideal retirement destination, it can be hard to choose between Costa Rica and Panama.
These two stunning countries don’t just border each other on the map; in terms of which is the better place to live, the results are neck and neck.
In our 2013 Global Retirement Index—our pick of the 22 greatest havens worldwide—Panama came out ahead of Costa Rica by a small margin. But those who favor Costa Rica weren’t happy with that. To them, Costa Rica is the best retirement destination in the world—no matter what anyone says.
So to settle things once and for all, we’re putting the question to you. Please take a moment to let us know what you think: which is the better place to retire—Panama or Costa Rica?
Over the next few days, our in-country experts will help you decide, sharing what they feel makes each the Top Retirement Haven.
Meantime, we’ve put together a unique package of resources on each country that you can get with a big discount only while the Panama vs. Costa Rica showdown takes place.
Why Panama?
On the strength of its retiree program alone, Panama deserves its place in our Index as one of the top places in the world to retire. Called the Pensionadoprogram, there is no other benefit program in the world that comes close to matching it. If you have any sort of pension that guarantees an income of at least $1,000 a month, you can qualify for the Pensionado program—even if you’re not of "retirement" age.
With that, the Panamanian government will grant you residence—and you’ll be able to avail of the massive discounts on offer to retirees across the country. That means you’ll get 50% off the cost of movies, theaters, concerts, and sporting events, at least 30% off hotel stays, 30% off bus, boat, and train fares, 25% off restaurant prices, 20% off medical consultations and much more.
But a low cost of living is only the start of what makes Panama great for retirees. The country is steeped in history but its bustling capital city offers modern amenities and cultural events, on a par with any city in the States. It has a range of little mountain towns, like Boquete and El Valle, for those who prefer a quieter, slower of pace of life...and both Caribbean and Pacific coastal towns for those who prefer a beach lifestyle.
Best of all, as the country is so small, you can have a change of scene whenever you want one—within driving distance.
That’s just the start of what Panama has to offer. Here’s how you can get free reports on retiree benefits in Panama, healthcare in Panama and more.
What Makes Costa Rica Better?
Costa Rica has so much going for it, too—including, according to one massive global survey, the happiest people in the world. From what every expat tells us about the Costa Rican lifestyle, it’s easy to understand why.
The Costa Rican lifestyle epitomizes the idea of laid-back, tropical living. So much so that its people have come up with a name for this happy-go-lucky attitude: pura vida. Literally meaning "pure life," this attitude is all about slowing down, eliminating stress and taking the time to value what’s important in life.
Costa Rica is so easy-going that it doesn’t even have a military. The country’s army was abolished in 1949 when the people decided to put that money into education instead.
The "pura vida" attitude contributes to the wellbeing of all the expats we speak to...as does the wide availability of affordable, healthful, fresh foods, and the top-class and very inexpensive medical system. For just $10, you can fill your basket with locally grown fruits, vegetables and herbs...spend another $20 and you can have top-quality seafood, like snapper or tuna, to feed a couple for a week.
And, for as little as $30 a month, you can purchase health care to cater to all your medical needs: from prescriptions to doctor visits to testing to surgeries.
The government’s dedication to preserving Costa Rica’s diverse and plentiful flora and fauna and reducing its carbon footprint—99.2% of all Costa Rica’s energy comes from renewable resources—means you’ll always have fresh air in your lungs there, too.
And though pricing for housing has risen in Costa Rica’s most popular tourist towns in recent years, it’s still affordable—even more so if you look to the country’s largely untapped Caribbean coast.
And the best of the Best is Lake Arenal Costa Rica
