Destination Panama: An Examination of the Migration-Tourism-Foreign Investment Nexus

Abstract

Panama has emerged as an important destination for US citizens seeking an affordable and ‘exotic’ place to invest, relocate or live out their “golden years”.  The result on the Panamanian landscape to date has been uneven and its implications to the Panamanian economy and society warrant attention.  The flow of new residents and money, both of which have been made relatively easy by liberal government policies, have spurred growth immediately evidenced by the abundance of half-built skyscrapers in the capital city and burgeoning non-urban communities complete with golf courses and other amenities typical of retirement communities in the US.  The objectives of this paper are twofold: first, we aim to build a conceptual framework in an effort to better understand the myriad of factors that intersect to establish such movements; and second we examine how this rapid influx of US culture and economics promote and perpetuate what we argue is a questionably sustainable neoliberal economic agenda.