Why Panama Will Succeed PDF Print E-mail
Panama Report
Tuesday, January 27 2009
Panama Kent Davis
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Every morning I walk my girlfriend to work and on the way back I always try to reflect on what is going on in my life RIGHT NOW and try to do some planning for the future. Today it really hit me- I love this country! But why? Well, I'd like to share a few reasons as to why I still feel like Panama is THE place to be, for me, right now, and I encourage anyone that has lived here to add to my list of little eccentricities and nuances that make Panama special for them.

I came here looking to be a part of something big. I moved here without having ever been to this country, and most of my friends and family held their tongues because they thought I was nuts. Well, I'm here, I'm making it, and I'm happy.

I am a simple guy: I enjoy street food, I appreciate beauty in most things, and it doesn't take much to keep me smiling. Every morning when I wake up, I think of all the folks in my home country (the USA) that are downright scared about the future. I thank God I ended up down here, where I can survive, if I had to, on less than $1,000 a month. My girlfriend of a year is not a gringo hungry gold digger, I've gotten to the point where I don't have to run A/C all day, and I drive a pretty sweet car by Panamanian standards.

So that's me, and this is why I know Panama will succeed:

1. The HOPE

Right now, the US and really the rest of the world are dealing with some pretty hefty problems, and all signs for future, at least in the short term, point to a worsening of the situation. I got chills watching the Obama inauguration yesterday, and this morning I prayed that he will be the one to lead my nation out of the dire straights that they are facing right now. But that's not what this article is about, so we'll leave the US stuff to the Americans.

There is an undercurrent of hope and anticipation running the country of Panama right now. The massive construction projects (the Canal expansion, Cinta Costera, oil refineries...etc), the ambitious plans for the future, and the pending presidential election all have me and my Panamanian hosts thinking about the direction of this country.

I like to use the term "Middle of the Beginning" because to me it sums up where we are in Panama right now. In 2004, no one in Panama had any idea that their country could almost double the number of new buildings in their small city of only 800,000. Now, the sky's the limit and everyone here is excited to see this happening city become an international playground for the rich and famous.

Things in Panama could go one of two very different ways. Maybe all of these new condos will drive real estate prices so low that we will see an influx of foreigners who, six months ago, could never even have considered a move to Panama. In that case, it will be a mad scramble for deals and as a real estate agent, I think it will probably be good for my business. Speculators will be left holding the bag, and I imagine there will be some pretty harsh emails exchanged between the angry clients that were promised the world and the real estate agents that were blowing smoke.

Here's the worst-case scenario: Maybe demand will dry up and there will be a mass exodus from Panama. What does that mean for the folks that stuck in it until the end? Simple: more affordable real estate, with some kick ass new infrastructure and less folks down here clogging up the streets. In short, Panama will return to what it was five years ago, which was an amazing tropical country with affordable real estate and unexplored, unexploited beauty.
On the odd occasion that prices will see only a small correction and then continue to rise as world pressure increasingly draws people out of their home countries and down to Panama, the boom continues. I don't have my crystal ball, so I wont get into that right now.

But back to the hope: people in Panama see a big future for their country. There's a very important election coming up that will inevitably bring change to Panama. Voter turnout here is close to 90%, which means that politics are a very real subject and everyone I have spoken to passionately supports their candidates. It's refreshing to see such patriotism and such an attitude of "my vote counts" type of thing.

2. The PRIDE

To this day, I have never met a Panamanian that is not unequivocally proud of his country. Ask any Panamanian what they think of their country and their faces will light up with a passion. They refer to it as "My Panama". It's cool. You don't get that type of thing in the US these days; at least you didn't about two months ago. Now that Obama's become a bit of a superstar, people may be able to start being proud to be American again, but for the most part people back home are pretty ambivalent about their patriotism.

In Panama, you see the pride everywhere. Men walk down the streets with ironed shirts, clean slacks and polished shoes, regardless of their socio-economic status. Ladies are always presentable, and walk the streets with their heads up and their backs straight. You don't see too many people shuffling through the streets, staring at their feet, just trying to get from point A to point B. Most people in Panama tend to stroll with a bit of a swagger and a sense of purpose. Yes, the ladies get whistled at but I've actually seen a few (a very few) of them actually smile at a clever catcall or a friendly tease. It's playful, and they are as proud of their sexuality as the men are of their beautiful women.

In my field of real estate, I see a lot of homes and would say that about 90% of them are very well kept, clean, and presentable. Granted, some of them may be filled with the ugliest furniture and cheesiest decorations ever, but from the semi-abandoned buildings in Casco Viejo to the itty-bitty row homes in Don Bosco, you see humble little abodes where one can really feel the PRIDE of the homeowners.

Go visit a little town like Pedasi, or venture into Arraijan and you'll see the same thing: quaint, well-kept homes with a fresh coat of paint and a nursed garden or green space. It translates into every facet of life, and you don't get that in too many places in the world. 3. The DINERO

Prices without a doubt are going up in Panama. Milk that cost $0.55 last year is now $0.70. That's a 30% increase, and to a Panamanian making $400 per month, what may seem negligible to me can really add up, and it is certainly felt in a household of four. Cost of living is a hot topic politically, and all of the candidates are working hard to address the situation and propose a solution to help the average Panamanian dealing with increased costs.
But it's happening all over the world, and as a gringo coming from the US, things are still relatively cheap here. If you're talking luxury hotel rooms or four-hand foot massages, that's a different story as prices in Panama in this sector are similar to home. But let's look at the basics. In Atlanta, I was paying $3.25 per pound for chicken breasts. Here, I buy them for $1.55. That pint of milk would have run me about $1.60 from a similar corner store in Richmond, Virginia. And try even stepping in a taxi back home for under $15.00. Here, I can still get across town for about $3.00 (although the same cab last year was about $1.50). I'd rather see the taxistas make a bit more anyway, because they are the ones that have to deal with this crazy traffic.

Movie prices are going up, but I can still take my girlfriend to a movie on a Friday night in a nice theatre, with drinks and popcorn for under $12.00. Hell, the popcorn and soda'll cost you that much in the US, Canada, or Europe. Mid-range restaurants and cafes are much cheaper here, and if you know where to go you can still get a very good lunch or dinner for under $3.00. Granted, it'll be Panamanian style, but Niko's beats the hell out of Denny's in my book any day.

The point of the laundry list above is that things are still relatively cheap for someone from the US, Canada, or Europe. That means I can afford to go out a bit more than I did in the states, and that I don't have to stress about drinking and driving because I know it wont cost me $50.00 to get home from the bars at night if I do end up taking a cab home from the clubs.

3. The DINERO

Prices without a doubt are going up in Panama. Milk that cost $0.55 last year is now $0.70. That's a 30% increase, and to a Panamanian making $400 per month, what may seem negligible to me can really add up, and it is certainly felt in a household of four. Cost of living is a hot topic politically, and all of the candidates are working hard to address the situation and propose a solution to help the average Panamanian dealing with increased costs.
But it's happening all over the world, and as a gringo coming from the US, things are still relatively cheap here. If you're talking luxury hotel rooms or four-hand foot massages, that's a different story as prices in Panama in this sector are similar to home. But let's look at the basics. In Atlanta, I was paying $3.25 per pound for chicken breasts. Here, I buy them for $1.55. That pint of milk would have run me about $1.60 from a similar corner store in Richmond, Virginia. And try even stepping in a taxi back home for under $15.00. Here, I can still get across town for about $3.00 (although the same cab last year was about $1.50). I'd rather see the taxistas make a bit more anyway, because they are the ones that have to deal with this crazy traffic.

Movie prices are going up, but I can still take my girlfriend to a movie on a Friday night in a nice theatre, with drinks and popcorn for under $12.00. Hell, the popcorn and soda'll cost you that much in the US, Canada, or Europe. Mid-range restaurants and cafes are much cheaper here, and if you know where to go you can still get a very good lunch or dinner for under $3.00. Granted, it'll be Panamanian style, but Niko's beats the hell out of Denny's in my book any day.

The point of the laundry list above is that things are still relatively cheap for someone from the US, Canada, or Europe. That means I can afford to go out a bit more than I did in the states, and that I don't have to stress about drinking and driving because I know it wont cost me $50.00 to get home from the bars at night if I do end up taking a cab home from the clubs.

4. The PANAMANIANS

Panamanians crack me up! They drive like crazy people, they throw trash out the window like it aint no thing, and sometimes they start drinking at 10am on the weekends. They can function on 2 hours sleep, they can work 10 hours a day and still have the energy to go to night school, and they love to laugh and poke fun. They jokingly call each other chombo (the gentle version of the "N" word in the states), Cholo (redneck), Chino (Chinese one) and take no offense when called the same. Back in the States, those would be fighting words if you said them to the wrong person.

As a guy, I can't help but mention the fact that the women are smoking hot. Some people say the girls in Costa Rica or Colombia are hotter but I would have to disagree. We have an amazing mix of Indian, Black, and Spanish that make for some absolutely stunning women if that look is up your alley. Watch them on the dance floor and it's enough to fall in love five times a night. The point I'm trying to make is that yes, there are beautiful women all over the world but Panama seems to me to have a disproportionately high percentage of them. But that may be because they're all exactly my type.

The food is great, and there are new restaurants popping up every day. I eat out maybe once a week, so for me there are still places that I havent tried in my few years here. I am reserving places like Rincon Suiza, La Posta, Sake, and Europa for special occasions, and I still haven't even been to Twist, Mostaza, or half of the places on the Causeway. I'm so in love with Niko's, Pescaito, and Kyukos that it's hard to go anywhere else, but just knowing I have those options is comforting.

This is the part where I stop being eloquent and start just listing things I love: Casinos, beer, unexplored territory, romance, air conditioning, price mart, Albrook mall, Casco Viejo, Cinta Costera, the Diamond Exchange, Royal Caribbean Cruises, strip clubs, Cuban cigars, reggae dancehall, San Blas, Contadora, The Darien, close to everything like Miami, Spirit Airlines, Martinelli, Mate, Venezuelans/Colombians/Argentineans, the National Theatre, Diablo Rojos, Chiva Banderas.

It's definitely not all perfect. The traffic is bad, and seems to be getting worse. If the increase in crime is not addressed immediately, then this country is in for a major wake up call. And I'd love to see people stop littering so much. But hell, Panama is a great country and great countries are faced with real challenges. Hopefully Panama can address them and I can continue to bounce along living, what I've affectionately realized to call, the dream.