“Lo que algo vale algo cuesta.”  You get what you pay for”

The Annual Global Retirement Index was just released, and Costa Rica came out on top for the third time. Aimed at North American expats, the annual rankings are put together through a network of on-the-ground editors and global correspondents, who utilize their own experiences and a series of statistics to compile the list. Cost of living, housing, healthcare, retiree benefits, and climate are all taken into account. These stats are then used to profile “safe, good-value destinations beyond the U.S. or Canada,” with a focus on places where a retired couple can live a comfortable life on as little as $2,000 a month.

The above does not surprise me at all. I love Latin America and have lived in Costa Rica for over thirty years for the reasons above. In fact, at one time or another, I have explored every country from Mexico to the tip of South America in depth. While every place has something to offer, I found out that Costa Rica stands out above the pack.

Costa Rica also heads the list when it comes to ranking healthcare.  It tops the world for life expectancy and the national healthcare system (“the Caja”) is considered one of the 20 best in the world. Plus, several other private options are significantly cheaper than in the U.S. (even simply paying out of pocket is as little as one-fifth the cost as it is in the U.S.). The country offers a dual private/public health care system that’s far cheaper than what you’d find in the United States — most expats would pay roughly $100/month for coverage in the public system.

Lately, there has been a lot of buzz about Panama by organizations hyping the benefits of relocating there. Panama only has two places that are worthwhile for expats. Panama City and the David/Boquete areas. If you like sweltering heat and big-city living, then Panama City just might be the place for you. The David/Boquete is around 300 miles and a 6-hour drive from Panama City. It is isolated and the are no direct international flights. On the other hand, Costa Rica boasts two international airports that are conveniently located and offer a whole gamut of flights to the United States and Canada.

Costa Rica also offers far more places to live than Panama. It has 900 miles of coastline with 300 beaches, many of which are accessible. Many expats live in the beach towns that dot the Pacific and Caribbean coasts. Others enjoy year-round spring-like weather and choose to live in the highlands in popular areas like Atenas, Grecia, San Ramon, Heredia, Escazú/Santana, San Jose, or San Isidro de General in the southern part of the country.

Once I had a woman who was living in Panamá as a guest on one of my relocation tours. I asked her, “If you live in Panama, what are you doing here? She answered, “Costa Rica has many more places from which to choose for living.”

Costa Rica has something for everything, and everything for someone. There are more Americans residing in the country proportionately than in any other country outside of the U.S. They cannot be wrong!

It is easy to get from one side of the country to the other. You can have breakfast on the Pacific Coast, lunch in the Central Valley, and dinner on the Caribbean side.

Costa Rica offers political stability, abolished its military in the late 1940s, and is the most enduring democracy in Latin America. Panama has some degree of stability but was invaded by the U.S. in 1990 to depose the de facto ruler of the country, General Manuel Noriega who was wanted by U.S. authorities for racketeering and drug trafficking. Nothing like this has ever occurred in Costa Rica’s recent history.

A history of instability and rampant corruption

Former Panamanian President Ricardo Martinelli, who aspires to return to power in 2024, was sentenced to nearly 11 years in prison for money laundering during his term (2009-2014). This is a historic verdict; it is the first time in Panama’s history that a prominent entrepreneur, former president, and politician has been sentenced to 10 years in prison for money laundering and corruption,

Also, Former Panamanian President Juan Carlos Varela Rodriguez has been charged with money laundering alongside other high-ranking figures. He is accused of receiving bribes from the Odebrecht firm. He is also banned from the United States

Omar Torrijos was a dictator who ruled Panama for many years. And died mysteriously in a plane crash, thus ending a dictatorship.

Another dictator, Manuel Noriega, replaced him and killed many of his adversaries like Hugo Spadfora. See: https://en.wikipedia.org/wiki/ Hugo_Spadafora

Here are the rest of the Latin American countries listed on the Annual Global Retirement Index and their respective rankings. I have taken the liberty of commenting on some of them.

#1 Costa Rica (Please see above)

#3 Mexico (There are many places from which to choose but Acapulco, Cancún, Michoacan, and other areas have been affected by cartel violence. See the Internet for more details.)

#4 Panama (Please see above)

#6 Ecuador (Quito and Guayaquil has experienced violence between drug cartels and the government. The country’s prisons are a hotbed of riots, brutality, and extreme cruelty. Please see the Internet for more details.)

#10 Colombia (The country is affordable but there are currently three groups of guerrillas at war with the Colombian government even after a peace accord was negotiated a few years ago. The country has been at war with itself since its inception (look at the country’s history). Over one hundred foreigners have been killed under a variety of unusual circumstances in Medellín, Bogotá, and other parts of the country during the last couple of years.)

In conclusion, come to Costa Rica and see for yourself.