Panama City

Panama City has been around since the Spanish decided it was a good location in the 16th century. As they plundered South America, the Spanish used the area as a transit point to reach their ships on the Atlantic side of the isthmus. In the early 17th century the city was sacked and razed by an English pirate.

Following that, the city was moved close to what is now the opening to the Panama Canal. Now a UN World Heritage site, the old city is being renovated (from the inside) by well off Panamanians and foreign investors.

The new business district is also seeing a large amount of development as North American and European retirees flock to the tropics and lower cost of living. The tourism authority obviously encourages such moves, as well as medical tourism. (The official hotel room tourist magazines featured articles and prominent advertisements for the reasonably priced treatments, primarily of a voluntary nature.)