Panama
North America · Central America
Dollar economy and a generous pensionado visa; a strategic hub for Latin America.
Digital Nomad
Ideal destination
Expat
Ideal destination
Retiree
Ideal destination
At a Glance
📈Panama's Human Development Index
0.820
Very High human development#57 of 191 countries worldwide, #6 of 23 in North America.
Higher than 71% of countries with data. UNDP Human Development Report.
UNDP builds the index from three dimensions: a long and healthy life, being knowledgeable, and a decent standard of living. They are measured by life expectancy at birth, mean and expected years of schooling, and gross national income per capita.
Closest indicators in this dataset
World Bank, own vintages. UNDP’s own component values are not carried here, so these are related measures rather than the index inputs.
Nearest countries by HDI
Full HDI ranking, all 191 countries →Panama
Panama is a Central American country whose significance has always been tied to its position as the bridge between continents, and the canal that links two oceans remains one of the great engineering feats of the modern world. Beyond Panama City, which has a vibrant old quarter and a surprising skyline, the country has Caribbean and Pacific coastlines, indigenous Guna Yala islands, and cloud forest reserves. Those who look beyond the transit will find a compact and varied destination.
- Panama hats are not from Panama — they're from Ecuador, and were exported via Panama.
- Panama Canal generates over $4 billion in annual tolls — a significant share of GDP from a strip of water.
- Pensionado retirement visa is considered one of the best in the world.
Quick Facts
Capital
Panama City
Language
Spanish
Currency
B/. PAB
Area
74,180 km²
Nomad Hub
Fixed Broadband
220Mbps
Mobile
34Mbps
Digital Nomad Visa
Min. Income
$3,000/mo
Duration
9 months
Renewable
Yes
Application Fee
~$300
GDP / Capita
$20K
PPP / Capita
$44K
Inflation
-0.2%
Unemployment
8.4%
Innovation (GII)
25.9
GNI / Capita
$19K
Tax Revenue
7.2%
FDI Inflows
1.0%
Education Spend
2.5%
Cost of Living
45.5
Price Level Index
48th pct
20-Year Trend + IMF Forecast
Income & inflation over time
HDI since 1990
0.672 → 0.820 (+0.148)Year by year →UNDP Human Development Report, 2023-24 edition. 33 annual values, none interpolated; hover any point for its year.
Twenty years here
Year by year →The world report →World Bank observations, first to last available year per indicator (roughly 2005–2024; each series has its own window).
Thinking about Panama for real?
The matcher weighs your budget, timeline and dealbreakers against the same data on this page, then answers with the places that actually fit.
Find your match →Neighbouring Countries
Panama head-to-head
💬Quick answers
What is Panama's Human Development Index?
Panama's Human Development Index is 0.820 (UNDP Human Development Report), ranked #57 of 191 countries.
Is Panama safe?
Panama scores 1.98 on the Global Peace Index (lower is more peaceful), ranked #80 of 160 countries by the Institute for Economics & Peace. That measures national-level peace, not street crime; both are covered below.
How expensive is Panama?
Numbeo's cost-of-living index puts Panama at 45.5 (New York = 100); that is #83 cheapest of 143 countries with data.
What is life expectancy in Panama?
Life expectancy at birth in Panama is 79.8 yrs (World Bank), ranked #43 of 195 countries.
What is the quality of life in Panama?
Numbeo's quality-of-life index scores Panama at 120.4, ranked #63 of 87 countries with data. It composites purchasing power, safety, healthcare, cost of living, commute and pollution from resident surveys, so it reflects what residents report rather than what an economy produces.