All our surveys indicate what common sense suggests: "relocators" between the ages of 30-59 are very different from those of prior generations. One difference is in their enthusiasm for physical activity. The tables below indicate where some of their preferences lie.

The table above summarizes the responses of 6,205 adult Americans who plan to relocate or are interested in relocating to any nation outside the US and compares the results to a sub-sample specifically interested in Central America and the Caribbean. Clearly, those headed to our region are definitely expecting to be very active.

The above table provides the results of a special survey of 379 adult Americans who have chosen Panama as the nation where they wish to relocate, most of them for retirement. This survey included additional activities. Although there are differences with the first table, (golf, for example, rises in popularity among this older group), the results reinforce the interest of relocators in activities directly related to Panama's environment. It demonstrates that a real estate developer in Panama can attract a large portion of American relocators at far less expense than constructing a golf course simply by taking advantage of Panama's natural "wealth". Our experience indicates that this runs counter to the expectations of many Panamanian developers and investors.

However, these results represent the total sample. Would taking income level into consideration dramatically alter the results? The table below compares relocators with annual incomes of $50,000 to 75,000 with those with incomes of more than $100,000.

Two results stand out. Although golf is clearly more important to higher-income relocators, it still ranks only 4th among their choices. In addition, the increase in interest in hiking/camping is every bit as large as golf, but is nearly twice as important and is the only activity chosen by nearly half the total.

One problem we have noticed in Panama is that developers often think that Americans just want to sit and look at the ocean or some such passive activity. If they do exercise, they’re rich and rich people play golf. So we have an increasing number of golf courses in Panama. That’s fine, but the developers are satisfying the needs of a “niche market”. They are missing a much larger market. These people want to interact with the natural environment of Panama, not just the artificial environment of a golf course. That may mean fishing, or boating, or hiking, but it means interaction.

Too many developers create what they think is an artificial “paradise” and forget that they are in the middle of a natural paradise. Trails for hikers or mountain bikes are much cheaper to build than golf courses and much more attractive to many people. Most importantly, by protecting the natural environment, we are protecting what drew people to Panama to begin with. Protecting and enhancing the natural environment can be far more profitable than destroying it and building something artificial.