Business Climate in Dubai and Panama May Become Your Perfect Combination

This year, we've been lucky to attend several international conferences on Mundo’s favorite topics. A few weeks ago, Dubai, in the United Arab Emirates, welcomed us with arms wide open, showing us its futuristic face and its potential.

When our CEO came back from this trip, she was marveled at what she had found, so we decided to write a series of articles comparing Dubai with our favorite jurisdiction in the Americas: Panama.

From the United Arab Emirates to the Caribbean: Panama, the Dubai of Central America

Even though they are miles and miles apart from each other, Panama and Dubai have more in common than one may think. The glimmering glass giants that embellish the skyline of both cities are a reflection of their success and steady growth. 

History has seen the pronounced development of Dubai from a fishing village to the most cosmopolitan metropolis of the Middle East. Panama has shown a similar story when it became the bridge of the world and a powerful business hub. 

They have other things in common, too, for example, pro-business policies, a welcoming environment for foreigners, and residency programs. 

Today, we thought it would be interesting to compare these two jurisdictions without the need for one party to necessarily win over the other. At Mundo, we have noticed that these two may work better when combined.

Context and Location

The main difference between the cities is that one is the capital of an emirate, with the country being the United Arab Emirates, while Panama is the capital of the country carrying the same name.

Dubai is home to 4 million people, and it's located in the Arabian Peninsula, while Panama is in the isthmus of Panama. The former’s coasts are lapped by the Persian Gulf, while Panama City is at the feet of the Pacific with fast connectivity to the Caribbean.

Panama is smaller, with only 400,000 people; nevertheless, the larger metropolitan area reaches a little over one million. Both have outstanding connections with the rest of the world: Panama is a short flight away from the most important urban and financial centers of the region, namely New York, Miami, Sao Paulo, Lima, and Buenos Aires.  Dubai, on the other hand, is halfway between the East and the West and close to the major European powers, plus Turkey, Egypt, and India. 

This makes them both ideal locations to conduct business, which has been partly the reason for their success. This was combined with smart policies and certain triggers that helped bring wealth, that is, oil in Dubai, and the Canal, in Panama. 

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Analyzing Key Aspects Of Lifestyle: Climate In Dubai Versus Climate In Panama

When analyzing the characteristics of a country we are planning to be involved with, we hardly think about the weather, when it should be one of the first things that come to mind. When designing your life plan, many of the decisions will be based on where you want to live for the largest part of the year. This is not only the place where you’ll pay taxes but also where your children will go to school, where you'll spend weekend getaways, unforgettable family moments, or idle Sunday evenings. It may be useful to know how hot is it in Panama before deciding whether to make it your new home.

Climate in Panama

Several applicants obtain their residency permits each year, and many others come for short visits or temporary stays. All of them can enjoy a lovely temperature of 86°F (30°C). One of the best things about the Central American capital is that the sun sets early, around 5:30 or 6:00 PM. This prevents the concrete from overheating and helps maintain a cooler night, with an average of 75°/24° for everyone's relief. 

You won’t see the endearing autumn landscapes with the fallen leaves forming a golden trail across the parks. Neither will you enjoy the early spring days when the snow starts to melt and unveils the nooks in the sidewalk. The concepts of spring and autumn are nowhere to be found in Panama because it has only two seasons: dry, from December to April, and wet, from May to November. 

How Hot Does It Get In Dubai?

Think about how hot does it get in Dubai, and you’ll start to feel cold in Panama. During the summer, residents face temperatures as high as 113° Fahrenheit/45° Celsius, and in the winter, the highest average is 80°/26°. 

When you think about getting residency in Dubai or Panama, the weather is something to consider as a factor that cannot be overlooked when it comes to lifestyle choices. 

We all know too well that no place is perfect, and sometimes it's good to seize each opportunity and leverage the best of each. A good combination would be to spend lovely winters in Dubai and, in the summer, fly to Panama, which will be just entering its rainy season. 

Real Estate

Both cities are amply recognized for their modern architecture, cosmopolitan vibe, and solid economy. The real estate offer thrives in both places equally, opening possibilities like obtaining residency in Dubai or Panama. 

In both locations, you'll find plenty of options for luxury living, yet in Panama, there is an unmistakable advantage: prices. 

The cost of an average apartment in the largest capitals of the world is probably the same as a luxury unit in the downtown area of Panama, with state-of-the-art amenities and author design.

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In the colonial quarter, there is an energy-efficient building with ready-to-use apartments and a short-term rental license.

Even closer to the city center, near malls, supermarkets, main thoroughfares, clinics, and a marina, there's an interesting project whose construction is planned to start in December. The advantage here is the lower cost of entering at a pre-building phase.

There are also plenty of options uptown, whether in Costa del Este, a residential neighborhood, or Playa Bonita, by the beach.

Residency in Dubai or Panama?

Both jurisdictions offer residency, and they both do it through real estate. For the global entrepreneur who is looking to visit once in a while or make a definitive relocation, both countries have accessible programs. Nevertheless, this topic is so wide that we are preparing a specific article to be published soon. 

Disclaimer: this article does not constitute financial, migration, or relocation advice. Before choosing a place to obtain residency or to move abroad, make sure to conduct thorough research and consult with certified professionals. 

The Optimal Climate In Dubai And Panama For Business, Entertainment, And Relocation

Thinking about how hot does it get in Dubai may be discouraging at first, nevertheless, you can spend most of your time indoors. At the end of the day, being at the doorstep of the entire world may be worth a couple of extra degrees. 

When you think about the climate in Dubai, you should think about the business climate, the glamorous urbanization, the international events, and the many things to experience. When it gets too hot, you can always cross the globe and settle for the climate in Panama with a much lower temperature and mild tropical nights. 

What Can Mundo Do For You

We strongly believe that Panama is the Dubai of Latin America and it has nothing to envy its counterpart. Analyzing the property prices and the residency visas, which we will introduce later this month, makes the picture even clearer. 

Mundo recommends Panama because it provides the same lifestyle as Dubai while maintaining a colonial mysticism and convenient prices. This is what makes it, among other things, an ideal place to retire, establish a business branch, a company in the free zone, or open a bank account in U.S. dollars.

Contact us because Mundo can help you reach your goals in Panama. We know this country in depth because a large part of our team is located here, including our CEO, who has a close connection with the most reputable real estate developer company in the country. Get in touch and tell us about your plans for establishing the right structures to fit your strategy.

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