Panama has been named among the most desirable destinations for people to retire to by a new study.
Reuters reported on the Retirement Index 2012 released by International Living magazine, which cited the South American nation among the top three places in the world to live after retirement.
One of the reasons why buying a property in Panama may be an attractive prospect is the low cost of living in the country, one expert claimed.
Speaking to the news provider, special projects editor for International Living magazine Dan Prescher commented: "The proposition is that you can live better for less, and not sacrifice anything, if at all, in quality of life and still live on half or less of what your cost of living would be in the US or Canada."
Panama is not only a good place for retirees, with a recent International Living survey describing the nation as "the most business-friendly country for expatriates anywhere in the Americas".
Factors such as market opportunities, access to finance and the ease of start-up were all taken into account, along with the cost of leasing or buying commercial property.