Panama is taking steps to tap into the fast-growing global medical tourism industry, a sector valued at over $180 billion annually and attracting more than 44 million international patients each year.
Earlier this week, the Minister of Commerce and Industries, Julio Moltó, met with leaders from The Panama Clinic and the Development Bank of Latin America and the Caribbean (CAF) to explore strategies that could make Panama a stronger competitor in this market.
Learning from Regional Leaders
Countries like Colombia and Costa Rica have already established themselves as top destinations for medical tourism. Colombia ranks among the world’s top 10 thanks to advanced medical infrastructure, competitive pricing, and international promotion. Costa Rica, meanwhile, draws around 70,000 foreign patients annually, boosted by international accreditations and packages that combine medical services with leisure tourism.
Panama already has a foundation to build on. The country is home to internationally recognized medical centers such as:
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Stem Cell Institute – known for its regenerative therapies targeting conditions like spinal cord injuries and degenerative diseases.
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Panama Fertility – a leading fertility clinic with over 30 years of experience.
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The Panama Clinic – ranked among the best hospitals globally by Statista Newsweek’s Global Hospital Rating, offering high-end care tailored for international patients.
Why Panama Is Well Positioned
Experts highlighted several competitive advantages that Panama offers:
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Strategic location – easy access for North and South American travelers.
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Use of the U.S. dollar – removes exchange rate complications.
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World-class air connectivity – Tocumen International Airport serves as the “Hub of the Americas.”
If leveraged effectively, medical tourism could generate between $60 and $150 million in additional revenue annually for Panama, while creating thousands of direct and indirect jobs.
CAF representative Lucía Meza confirmed the institution’s willingness to provide financing and technical assistance to structure the program and define incentives.
Minister Moltó emphasized that the meeting marks just the beginning of a broader collaboration between public and private sectors to grow this industry.
Tourism and Lifestyle Synergy
For patients and their families, Panama offers more than healthcare. The country’s diverse tourism experiences – from city living in Panama City to the cool mountain climate of Boquete – make it an attractive recovery and relaxation destination. Combining medical treatment with opportunities to enjoy beaches, cultural heritage, or eco-adventures could give Panama an edge.
What This Means Moving Forward
The development of medical tourism has the potential to diversify Panama’s economy and strengthen its reputation as a global hub for services. It could also bring more long-term visitors who might discover the country as a place not only for treatment but also for retirement, investment, or relocation.
Casa Solution is here to help you discover Panama’s many opportunities, whether you are planning a move, an investment, or simply exploring what life here has to offer. Contact us today to learn more about the communities and properties available throughout the country.
Date written: August 17, 2025
