Panama , officially the Republic of Panama , is the southernmost country of Central America. Situated on the isthmus connecting North and South America, it is bordered by Costa Rica to the northwest, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The...
. It has a population of 880,691, with a total metro population of 1,272,672, and it is located at the Pacific entrance of the Panama Canal
The Panama Canal is a ship canal in Panama that joins the Atlantic Ocean and the Pacific Ocean and is a key conduit for international maritime trade. Built from 1904 to 1914, the canal has seen annual traffic rise from about 1,000 ships early on to 14,702 vessels measuring a total of 309.6...
, in the province
Panamá is a major province of the country of Panama, containing the capital city, Panama City. The governor of the province is Mayin Correa, a former mayor of Panama City and elected by President Martinelli after being sworn in on July 1, 2009.-Districts:...
of the same name. The city is the political and administrative center of the country, and a hub for international banking and commerce. It is considered a Beta World City
A global city is a city that is deemed to be an important node in the global economic system...
With an average GDP per capita
Per capita is a Latin prepositional phrase: per and capita . The phrase thus means "by heads" or "for each head", i.e. per individual or per person...
of $11,700, Panama has been among the top five places for retirement in the world, according to International Living
International Living is a publishing group founded in Baltimore, Maryland in 1979 as part of Agora Inc. headed by Bill Bonner. International Living monthly newsletter covers topics including retiring overseas, living abroad, international real estate, investment and travel, while a daily "IL...