Tags: Panama, paulownia, education, reforestation, environment, Panama Canal, Native Americans To fully understand the benefits of living and retiring in Panama you must first gain a perspective about the country of Panama and how it compares to the United States.
The Republic of Panama situated in the lower part of Central America and the Caribbean. The Republic of Panama is a small coastal isthmus nation with over 75,000 km 2 of area about the size of the State of Maryland with boundaries connecting it to Costa Rica and Colombia, and bisected by the Panama Canal. The climate is tropical, wet and rainy with a mean temperature of 27.7 C and average annual rainfall of 190.8 mm. Panama, a cultural melting pot, inhabited by diverse Native American groups, it was colonized by Spain and formed part of Colombia from 1821 until it declared independence in 1903 becoming the Republic of Panama.
The country now enjoys a politically stable and democratic government. The Balboa, Panama’s exchange of currency is par with the US dollar, and is interchangeable with it, even in coin machines. Merchants accept all major credit cards recognized in the US and there is free trade between the countries. American citizens can travel freely within the country. The parallels continue: The population is mostly Christian but enjoy complete religious freedom. There is 110 AC electricity, they are in the Eastern Time zone, and have the same sources transportation. Panama has a complete network of highways and many people travel by car or bus. Major airlines also service the country, as well as public transportation and rail systems.
Panama’s strategic geographical position and the Panama Canal have made the country a world leader in marine transportation, finance and commerce. The official language is Spanish but English is taught in most schools; and is the official second language. The literacy level of the population is 92.3% one of the highest in Latin America. 65% of the population is dedicated to commercial and service activities.
Panama has a population of approximately 2.8 million people and an annual growth rate of 3.9%. The per capita income is $2,794 a year one of the highest in Central America, with a .5% inflation rate the lowest in Latin America, and a 12.8% rate of unemployment. [1]
On the surface, Panama and the United States seem very close in culture and technology. In fact, Panama is closer to Texas than Texas is to New York City. In spite of similarities, Panama is strikingly different in so many ways. To grasp this, we must admit the painful; they are a third world country, with staggering demands and limited resources. The third world does not live the healthy, well-educated abundant life we almost take for granted. Panama is no different. Some unique problems cannot be legislated away with a humane constitution or eliminated by technical advancement in urban areas.
Although having a relatively high per capita income this number hides the fact that 10% of the poorest sector of the country receive only 0.5% of the total income of the Nation while 10% of the richest receive 42% of the total income of the Republic. Although one of the richest countries in Latin America it has one of the worst distribution of wealth. This absence of social equity affects approximately 50% of the population in a significant manner. The indigenous and other minority populations are affected most dramatically of all. [2]
During one of the darkest times in the history of Panama, the 1980’s when an international embargo was placed against the country and the banks froze all assets a financial anomaly occurred which is note worthy. Although loans of almost all types were going into default, two areas did not appear to be affected by the economic situation: home and educational loans.
In fact, the education industry experienced a slight increase in sales possibly because the increased amount of time unemployed people had on their hands. No other country other than Japan readily comes to mind as having such a high respect for education. When an educator dies people line up for the funerals. No notable private school has ever gone bankrupt and the laws regarding educational institutions are quite favorable making the education business one of the most secure investments in the Republic of Panama. Although schools do not make large earnings on the bottom line, they do demonstrate a steady income and growth potential. Educational facilities are one of the “blue chips” in private industry in Panama.
For the above reason the Enoch Olinga College (ENOCIS) www.enocis.org has implemented a socio economic development project in the areas of extreme poverty of Panama, the PanAmerican Properties, Inc. paulownia elongata reforestation project. www.paulownianow.org The project has two objectives one, to create new sources of income for the poorest sector of Panamanian society and two, produce new sources of revenue for entrepreneurs with a high rate of return with an additional environmental benefit at no additional costs. You may read more about these opportunities or participate in the Paulownia Reforestation project at the following url. http://www.paulownianow.org/index_files/earth.htm
[1] Real Estate and Terminology, CB Richard Ellis LA, 1999. CB Richard Ellis is a US, internationally recognized real estate and development company traded on the US stock Exchange and operating in over 20 countries throughout the World.
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