Panama City has successfully positioned itself as a leader in medical tourism, drawing thousands of international patients each year. With state-of-the-art hospitals, skilled doctors and affordable treatment options, the city is a strong choice for those seeking exceptional medical care abroad.
In this article, we explore what is driving the expansion of medical tourism in Panama City. We also discuss how the industry is strengthening investment opportunities in real estate and beyond.
Healthcare Infrastructure
Over the years, Panama’s government has invested heavily in healthcare infrastructure, placing a focus on technology and patient care. The capital offers many high-quality hospitals and medical facilities which cater to international patients. Notably, Pacífica Salud in Punta Pacifica, affiliated with Johns Hopkins Medicine International, is the leading hospital in Panama City and a top choice for expatriates and visitors seeking quality care.
In Panama, medical institutions must adhere to international standards and achieve the necessary accreditations. Meanwhile, various government incentives attract international patients and strengthen the industry, including tax benefits for healthcare providers and streamlined immigration and visa procedures for prospective patients.
Diverse Expertise
Panama City is a leading destination for various cutting-edge procedures and treatments spanning orthopaedics, fertility, cosmetic surgery, dental work, and stem cell therapy, among other fields.
Punta Pacifica Hospital opened the first Joint Commission-certified Primary Stroke Center in Panama and Central America, demonstrating its commitment to international standards of excellence in neurological care. Not only this, but it has also positioned itself at the forefront of robotics surgery, having introduced the revolutionary Hugo RAS robotic system—the first of its kind in Latin America.
Additionally, Pacífica Salud offers stem cell therapies alongside other leading clinics, such as the Stem Cell Institute (SCI). Stem cell therapy is particularly popular among American visitors seeking medical treatment in Panama. This is primarily because certain stem cell treatments that are available in Panama are not offered in the U.S, such as those for neurological disorders, spinal cord injuries, heart disease, joint regeneration, and Type 1 diabetes.
Affordable Treatments
One of the main drivers of medical tourism in Panama is affordable healthcare. Compared to the U.S and Canada, healthcare costs for treatments, procedures and prescription medications are up to 70% lower. This creates a huge demand for medical treatments in Panama, driven by North Americans who cannot afford or are reluctant to pay healthcare costs at home.
Easily Accessible
Panama boasts a strategic geographical position and modern infrastructure, providing easy access to North and South American markets. Often referred to as the ‘Hub of the Americas’, Tocumen International Airport in Panama City is one of the best-connected airports in the region, with direct flights to cities across the U.S., Canada, and Latin America. Flights to Miami (FL) average under 3 hours, while passengers can reach Mexico City in 3.5 hours, and San José in just 1 hour and 15 minutes.
Recover on Vacation
With a tropical climate, beautiful beaches, and a laid-back lifestyle, Panama is the perfect destination for a long holiday. And where better to recover post-op than in paradise?
Many of those seeking medical care abroad also choose to make their visit a vacation, provided they are feeling well enough to do so. A few days of relaxation often prove very beneficial, helping patients to prepare for and recover from treatment.
If you’re journeying to Panama for medical treatment, it makes sense to enjoy its many charms while you’re there. See the famous Panama Canal, wander round the stunning old town of Casco Viejo, or sail away to the San Blas Islands for a memorable escape.
The Bottom Line for Real Estate Investors
As a medical tourism destination, Panama City stands out due to its quality, affordability and glowing international reputation. Its healthcare industry not only continues to stride ahead of its Latin American peers but also represents an accessible and affordable alternative for U.S. and Canadian citizens seeking quality medical care.
Looking ahead, advancements in healthcare infrastructure, the arrival of new talent, and robust government support will continue to drive growth and draw further attention to Panama’s healthcare industry.
So what does this mean for real estate investors? The growing number of medical tourists in Panama is naturally driving demand for short-term rental accommodation, particularly near prominent medical facilities in Panama City. Here, there is a compelling opportunity for real estate investors to capitalise on Panama’s medical tourism sector. Robust demand, coupled with low entry prices for newly built, high-spec properties, means property investors can enjoy a high ROI in this unique and rapidly growing market.
If you’re interested to learn more, get in touch to speak to one of our consultants today.
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