Very early this past Thursday morning I returned home to Uruguay after a 12 day trip to Panama. I had not been there in four years and was interested to compare it to Uruguay since it had been the prime alternative to moving here.
Panama was incredible! It was the most dynamic city I have visited in years. It is clearly replacing Miami as Latin America’s primary financial center. There are more banks in one small barrio in Panama City than there are in Uruguay. More business is done every day in Panama than is done all year in Montevideo. Everywhere I looked new buildings were going up: not little buildings–20 to 40 story concrete and steel towers. Real estate values are soaring. One of my business associates bought office space on Avenida Balboa (Panama’s version of Rambla) a few years ago for US$73 per square meter. Offices in his building are now selling for US$3000 per square meter.
And the Internet was incredible… I think we have more bandwidth in the hotel than in all of Uruguay: a blazingly fast 11 MB in our hotel room.
For me, the best features of Panama were its restaurants. I had fantastic Chinese food, which is impossible to get here, and a surfeit of American junk food including Wendy’s, Kentucky Fried Chicken, Pizza Hut, Bennigan’s, TGI Friday’s, Popeye’s and Hard Rock Cafe.
Panama City is very much like Miami, except that they speak more English in Panama!
Would I like to live there? Am I sorry I moved here?
You’ve got to be kidding! Panama is like one big amusement park/shopping mall: a lot of fun to visit, but I surely would not want to live there!
Panama is hot. Panama is humid. Panama is crowded. Panama is expensive. Panama’s traffic is insane. Panama is increasingly dangerous.
For me Panama is a mirror image of Uruguay. Uruguay is a wonderful place to live, a good place from which to do business, but a terrible place in which to do business. Conversely, Panama is a wonderful place in which to do business, a good place from which to do business, but a challenging place in which to live (especially if you are a gringo).
One of the things I love about living in Uruguay is that I do not stand out in a crowd (except for the fact that I am a fat cripple in a wheelchair)as a gringo. Here, I look like everyone else. Panama caused me to have flashbacks of Costa Rica–Santiago and I were both clearly identifiable as foreigners. That could be that between the two of us we were bigger than any six Panamanians, but I think it is more subtle than that. Panamanians are certainly more friendly than Costa Ricans, but then so are North Koreans. Panamanians are certainly smarter than Costa Ricans, but then so is the average mule. Panamanians show more business savvy than anyone I have met this side of Hong Kong or Taiwan. But, Panama has an edge to it which is hard to define, but indicates to me that it could never be home–that I could never really belong there.
Panama is good for business and I will go back there often. If it was next door to Uruguay I might even work there and live here. But it is 7 hours away by plane and Uruguay is my home Regardless of whether you speak English or Spanish the sentiment is the same: home Sweet home – hogar dulce hogar!
The Uruguay Living/Sociedad Southron Community is a large part of what makes Montevideo feel like home for so many.
Once again, THANK YOU and a huge WELCOME HOME!!!
Left by clara on May 4th, 2008
Welcome home, David. Glad to hear you’re back.
Left by syd on May 4th, 2008
Terrific comparisons. The comment about the mules might upset a few, but still very informative! :)
Left by canadiense on May 4th, 2008
Hi Yea sounds like a nice place to vist , lets hope Uruguay doesnt
end up like that ¡ My wife just returned back here from a trip
to the USA , most of the passengers were Gringos leaving the
USA planning to live or retire here in Uruguay . One question
can you buy quality clothing equal to what you can buy in the
US ?
The Happy Gringo
Left by watley123 on May 7th, 2008
Thank you for your insightful article on Panama. However, after having lived there myself over the last 2 years, I must disagree with you on some of points.
I’ve been doing just the opposite of you over the last 3 weeks — I’ve been travelling extensively throughout Uruguay, with an eye to moving here. (The jury is still out on this.)
However, in your article you mentioned that Panama was more expensive and I couldn’t DISAGREE with you more!
The only thing I found in Uruguay to be cheaper than Panama is real estate — which is what I’m looking at buying in Uruguay.
The day-to-day cost of living, however, is MUCH cheaper in Panama than it is here. I’m originally from Canada, and I’ve even found products here that are even more expensive than what I’d pay in Canada — one example … gasoline.
Try finding this deal in Uruguay: 5 golf shirts, 1 genuine leather belt, 1 khaki pair of pants all for under US$20!!! (These sorts of deals are everywhere in Panama.)
Shopping is also more convenient. For example, grocery stores open 24/7.
Internet is a main focus of my business (day trading) and I’ve become increasing frustrated by both the speed of the internet in Uruguay along with the frequent drop-outs I get here (using both Wi-Fi AND Ethernet!!!). In Panama it’s highly reliable and, as you found out yourself, extremely fast!
Panama is crowded??? Really?!? How come? Panama has the same population as Uruguay! Now, if you mean Panama City … OK, I’ll have to agree with you there. But, unlike the tourist, I rarely go downtown as most of the places I need are around where I live.
I find Montevideo much easier to navigate though — I love the 1-way street set-up! I’m sure that you must have noticed though that Panama City is much more wheelchair-friendly?!?
One benefit that Montevideo has over P.City … I find that Montevideo air isn’t as polluted as Panama City air.
As for the weather, it all depends on what you want. I’ve found my stay in Uruguay to be quite chilly — almost like Canada, which is the weather I’m trying to escape. Originally hailing from a country that sees snow for 5-6 months of the year, I welcomed the heat and humidity that Panama offered me with open arms.
The apartment I have there is on the 11th floor and, although I have AC, I rarely find a use for it even with the heat and humidity because 95% of the time I have a nice, cool and refreshing breeze running through the place.
Also, if you venture out into the interior, it’s not as hot and humid there as it is in Panama City.
These are all examples as to WHY I am having a tough choice deciding whether to remain in Panama or make the move to Uruguay.
Like I said, the jury is still out on that one.,,
Left by pty-trader on May 8th, 2008
welcome home! ;) bienvenido a casa! :)
Left by carlos on May 12th, 2008
Very interesting comments, David.
I first became interested in Uruguay after reading various writings of yours on the Internet, purchased your Ebook, and then came down for an exploratory trip in Sept 2007. I spent most of my time in Montevideo (I was at a couple of your Thursday parties — we even met), but also checked out Colonia & Punta del Este on daytrips.
I’m a younger man and although I liked Montevideo, it might be a bit too slow-paced and quiet for me personally. I found Buenos Aires quite neat (it was my first time in South America, so I made sure to explore the big city, as well). I guess I’m more of an urbanite. I like the choice of activities and services available, although I recognize the downsides, as well..
I’m actually going to Panama in the middle of June. As an “urbanite”, Panama City will be my main focus, although I’ll probably check out the smaller cities of David & Boquete in the west too.
Panama has a dollarized economy, so I expect that to interest more & more Americans as the USD continues down (as well as those of us with US investment dollars).
I guess I’ll see what I think about the heat & humidity while I’m down. There really is only a week or two of hot/humid weather per year in native country (Canada).
Another “pro” in my mind is if I lived in Panama, it’s so central that it’s a good base for further travel in South America and really not too far for the yearly trip home.
Left by dsc on May 20th, 2008
Excellent description about Panama. Wonderful Blog.
All the best,
Mahmad Daud
Panama
Left by mdaud on June 23rd, 2008
I was interested to read that you have lived in costa rica before you went to uruguay. I currently live in the south of spain where i have been for nine years. I am considering relocating to your part of the world and have been looking at both costa rica and uruguay, could you please tell me which you prefer of the two and why. This would be very helpful and assist me in my research.
Left by Lisa on July 5th, 2008
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