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An international travel group has confirmed what we already know — Panama is the best destination in the world for expats. According to InterNations, the expat community active in 420 cities worldwide, expats who live and work in Panama are the happiest in the world.

The group ranked Panama No. 1 on the list of 53 countries across a wide range of categories,  based on responses from more than 12,500 people who answered questions about their lives in a foreign country. In 2024, Panama moved from third to first, with 82% of Panama respondents saying they are happy with their lives, compared to an average of 68% worldwide.

One of the big reasons: is affordable housing. Panama ranked number one as the easiest place in the world for expats to find accommodations, with (62%) favorably rating the country’s affordability, compared to 34% globally. 

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The responses to the group’s study tell you a lot about why people love Panama. The majority of respondents said they moved to Panama for financial reasons, to retire, or for a better quality of life. Close to three-quarters of respondents (74%) are satisfied with their financial situation, which is 20 percentage points more than the global average (54%) and placed Panama number one in that category and fourth in the “Personal Finance” index.

Newcomers to Panama are “most satisfied” with the low cost of living and 71% report they feel they’re paid fairly (compared with 58% globally), according to the survey results. They also enjoyed Panama’s tropical climate and leisure options available across its beaches, mountains, and rainforests.

Panama is also rated highly in “Expat Essentials,” with few issues around language, online services, and the ease of acquiring a visa. Panama also ranked highly for the “ease to settle in.”

The survey also provided a glimpse into who is moving to Panama. According to the survey, 32% are already retired (compared to 11% globally). But most are still working, with nearly half (47%) working remotely (vs. 20% globally).

Panama expats are “also happy with their social life there (2nd) and find it easy to make local friends (7th),” according to the report. “Over two in five respondents (41%) agree that the population is friendly towards foreign residents (vs. 25% globally).”

For the record, the top five were rounded out by Mexico, Indonesia, Spain, and Colombia. The bottom 10, which seems harsh, included the UK, Germany, and Canada.  Expats in Canada are much less satisfied with their working hours (57% in 2024 vs. 74% in 2023), their job security (48% vs. 64%), and the job market (38% vs. 59%), the survey found. Canada also slipped in “Expat Essentials,” “Quality of Life” and “Ease of Settling In.”