Panama City Mayor Mayer Mizrachi Reveals Why Panama is 'Heaven on Earth' for Expats

Mayor Mizrachi articulates what distinguishes Panama City from global competitors like New York or Miami: the unprecedented combination of colonial architecture in Casco Viejo, accessible tropical rainforest with wildlife viewing by the Panama Canal, Pacific oceanfront properties, and a modern financial district - all concentrated within approximately three square kilometers.

'Most cities globally only offer one of these elements,' Mayor Mizrachi explains. 'New York has high-rises and some oceanfront, but lacks a UNESCO World Heritage colonial district like Casco Viejo or jungle where you can observe monkeys minutes from downtown banking centers.'

This unique urban planning creates investment opportunities unavailable elsewhere in Latin America, with Casco Viejo properties appreciating 8-12% annually according to Panama's National Statistics Institute.

When discussing Panama's most distinctive destination for expats, Mayor Mizrachi immediately highlighted Bocas del Toro, describing it as 'Jamaican Panama' due to his own Caribbean heritage through his mother. This Caribbean archipelago represents authentic cultural integration that differentiates Panama's expat experience.

Bocas del Toro's unique characteristics include English Creole (Patois) spoken locally, creating natural language bridges for English-speaking expats, and genuine community integration between international residents and locals. Unlike resort-dominated Caribbean destinations, Bocas maintains authentic character while welcoming foreign investment.

However, Mayor Mizrachi acknowledges infrastructure challenges: currently, Panamanians pay more to visit Bocas del Toro than to fly internationally to Medellín, Colombia, due to limited airport capacity for larger aircraft.

Mayor Mizrachi confirmed significant infrastructure projects transforming Panama City's investment landscape. The Cinta Costera waterfront development includes discussions for tourist attractions like a Ferris wheel near the yacht club area, potentially increasing nearby property values.

The fish market relocation project represents immediate investment opportunity, moving Panama City's famous market closer to improved waterfront infrastructure. The current dock's tide-dependent operations create logistical challenges that new development will resolve through partnership with Panama's Ministry of Tourism.

These projects complement Panama's broader infrastructure investments, including the $5.25 billion Panama Canal expansion completed in 2016, which increased global shipping capacity and reinforced Panama's position as a regional logistics hub.

Mayor Mizrachi's direct message to Americans considering relocation emphasizes Panama's three key advantages: complete dollarization eliminating currency risk, business-friendly policies, and cost of living 40% lower than Miami according to Numbeo's 2024 cost comparison data.

Following recent political and economic shifts in major U.S. cities, Mayor Mizrachi actively invites Americans seeking stable, affordable alternatives to consider Panama's proven track record. The country's Friendly Nations Visa program offers streamlined residency for U.S. citizens with minimal financial requirements.

Panama's territorial tax system means foreign-earned income isn't taxed locally, while maintaining full access to modern banking, healthcare, and infrastructure that rivals North American standards.