Central America Competes for Baby Boomers

Panama, Belize and Nicaragua are competing with Costa Rica and Mexico in trying to attract retirees from the U.S. and Canada.

Friday, July 26, 2013

All of these countries are offering residency packages and tax exemptions at rates similar to those granted by Costa Rica. For example, in Nicaragua there is a law which provides advantages for retirees on items ranging from cars to building materials. In the case of Panama, there is a program which has reduced the requirements to invest in property, businesses and other endeavors. "The message of this law is simple. "It is 'Come to Panama'" said lawyer Manoj Chatlani .

Laprensa.hn reports: "New luxury complexes, equipped with spas, restaurants, marinas and golf courses, are spreading. Developers say they are using more materials that add quality and luxury which is designed to appeal to buyers with high purchasing power. "

The number of Americans receiving pension payments in Panama has increased by 65%, as 2,164 new people between 2006-11, while in Nicaragua it went from 595 to 1322 people. However, these figures fall short when compared to Mexico and Costa Rica, where more than 50,000 Americans received their pension payments in Mexico and 5,000 do so in Costa Rica.

In Belize, where developers are trying to promote the country as a place for retirees to live in luxury, they are currently building a complex which will hold 2,000 residential plots, 250 condominiums and townhouses and a marina with capacity for up to 250 boats.

More on this topic

Tourism Projects in El Salvador

February 2012

In order to attract the attention of investors, entrepreneurs have created a portfolio of six major projects for tourism development.

The Association of Coastal Marine Tourist Developers (Promar in Spanish), led by renowned Salvadoran entrepreneurs, recently presented the Government with an ambitious portfolio of six mega resorts with high potential to attract investment to the country, to be run in the next 14 years, and which is valued at $2 billion.

Nicaragua Promoted as Retirement Destination

November 2009

PRONicaragua and Intur are promoting the country as an attractive destination for U.S. retirees.

A fair named "Nicaragua: A Paradise Within your Grasp", presented 14 touristic development projects to 24.000 visitors over the age of 50.

"The featured projects were: Montecristo, Gran Pacífica, Guacalito de la Isla, Rancho Santana, La Talanguera, El Encanto del Sur, Parque Marítimo El Coco, Barceló Montelimar, Hacienda Iguana, Colinas de San Juan, Laguna Sol, Remax de Nicaragua, Desarrollos Sooner y Hotel Seminole", reported Elnuevodiario.com.ni.

Paradise for Retirees

July 2009

Low costs, good health care and proximity to the United States make Panama a retiree paradise.

Panama´s growing popularity as a destination for U.S. retirees was analyzed by Business Week´s Michelle Conlin, in an article published in La Estrella de Panamá.

According to the Institute of Migration Policies, a U.S.

$47 million to be invested in commercial complex in Peten, Guatemala

August 2008

The Grupo Expansion Inmobiliaria will invest in a commercial complex called Munda Maya International Mall and in a residential project for retirees.

This will be the biggest investment ever to be made in the history of the Department of Peten. It should create more than 900 permanent jobs and revitalize the tourism industry (both at the national and international level); by providing more services, tourists will be more likely to extend their stay in the area.

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