Economy Argentina isn't the affordable option

[Travis]

Panama doesn't quite fit the typical scenario of dollarization. As I understand it, both the Balboa and the Dollar were established as legal tender in newly independent Panama back in 1904. While USD banknotes are in circulation (I've never encountered a Balboa banknote, if they exist), the coin issue was resolved by minting Balboa coins.

Indeed, it's a much more agreeable solution than implementing a minimum price of 5 dollars for everything, which appears to be an unwelcome and inflationary approach. This is precisely the type of price inflation that raises concerns about its potential manifestation here in Argentina.

On a personal note, the idea of Argentina minting its own silver "dollars" could be a viable alternative, although it seems unlikely, especially considering the current silver price reaching 23 bucks. Even a quarter-ounce coin would hold around 6 bucks worth of silver at that rate.

As you mentioned before, obtaining old Morgans and Walking Liberty coins appears to be quite challenging here.

 

[america]

Really? How did that function? Did they assign random values in U.S. cents to the Panamanian coins, akin to what occurred in the UK with the former shilling coins following decimalization?

I'm not suggesting that UK coins ever had values in U.S. dollars; I'm merely drawing a parallel to how two coins from the prior system were assigned arbitrary values of 25 and 50 new pence.

Panama operates on a bi-monetary system. The official national currency is the Balboa (PAB), established since 1904, and it's pegged to the USD at a 1:1 ratio by government decision. Notably, Panama exclusively issues coins in denominations from B/$0.01 up to B/$1 and does not produce any banknotes.

It's worth noting that Panama stands out for not having a central bank, a unique feature among countries with their own currency. Instead, there's an organism that regulates the banking sector. While the USD holds the status of an official currency with the term "uso legal" (legal use), the Balboa is recognized as "curso legal" (legal course).

Individuals and businesses in Panama can choose in which currency they prefer to hold accounts, loans, contracts, etc. Generally, USD is the default for most products, but state-owned banks or government entities typically transact in PAB. This practice allows for flexibility in case the country decides to unpeg the exchange rate in the future.

When using a PAB credit or bank card in the USA, individuals can expect to encounter foreign currency fees. While USD banknotes are universally accepted in Panama due to the 1:1 peg, the circulation of PAB coins ensures that exact change is readily available.

 

[funnygirl]

I have no plans to leave; this place is my home.

 

[Gary]

Panama operates on a bi-monetary system. The official national currency is the Balboa (PAB), established since 1904, and it's pegged to the USD at a 1:1 ratio by government decision. Notably, Panama exclusively issues coins in denominations from B/$0.01 up to B/$1 and does not produce any banknotes.

It's worth noting that Panama stands out for not having a central bank, a unique feature among countries with their own currency. Instead, there's an organism that regulates the banking sector. While the USD holds the status of an official currency with the term "uso legal" (legal use), the Balboa is recognized as "curso legal" (legal course).

Individuals and businesses in Panama can choose in which currency they prefer to hold accounts, loans, contracts, etc. Generally, USD is the default for most products, but state-owned banks or government entities typically transact in PAB. This practice allows for flexibility in case the country decides to unpeg the exchange rate in the future.

When using a PAB credit or bank card in the USA, individuals can expect to encounter foreign currency fees. While USD banknotes are universally accepted in Panama due to the 1:1 peg, the circulation of PAB coins ensures that exact change is readily available.

The situation is quite similar in Cambodia as well.

 

[earlyretirement]

I have no plans to leave; this place is my home.

Amen! Nothing like Buenos Aires. Truly one of the best cites in the world. What part of BA do you live in funnygirl?

 

[Ross]

Great Ross! We are on the same "wavelength" lately. You will love Bangkok. We really loved Thailand and eager to go back this summer. The people are so kind and gentile.

I've recently arrived in Bangkok and have spent a few days here. Any suggestions or recommendations? I'm thoroughly enjoying my time in the city.

(My apologies if this is off-topic, I understand it's quite a contrast to BA right now.)

 

[roland]

Amen! Nothing like Buenos Aires. Truly one of the best cites in the world. What part of BA do you live in funnygirl?

Be cautious of stalkers

 

[nikita]

Back in 1999 when I relocated here, the cost of living wasn't low (1 peso = 1 dollar), but I navigated through all the fluctuations. Now, after 24 years, there's nothing that would make me consider leaving the city I adore.

 

[James22]

Just in case Argentina gets dollarised and expensive, here's where you can go for less than current Argentine prices:

Some of the locations he discusses in South America are considerably less secure than Buenos Aires.

 

[funnygirl]

The situation is quite similar in Cambodia as well.

However, residing in Panama or Cambodia is not my preference.

 

[roland]

I recently spent three months in the upscale area of Manila, often referred to as the 'Beverly Hills,' and while other parts of the city are less appealing, I found certain items to be reasonably priced. However, what truly surprised me were the food prices—both in supermarkets and restaurants. This is where Argentina's distinction in terms of cost becomes evident. Additionally, the cost of healthcare at top-tier hospitals is quite steep. For instance, I underwent a Mohs procedure on my face, performed by a doctor trained at UCLA, which amounted to $2600.

 

[Rico]

With the recent changes in the dollar blue exchange rate, I've upgraded my selection of wine when invited to someone's home for dinner. I now opt for a $5 bottle of Rutini, feeling a bit embarrassed about my previous choice of a $1 bottle of Mbape.

 

[Rico]

In summary, if you prefer a more "European Lifestyle" at a lower cost, Argentina is a straightforward choice. If you find comfort in Asian cultures, you have various options. Likewise, if you love Caribbean lifestyles, there are choices available. The savings are relatively minimal, around a few cents, with the cost of living being approximately 30 to 34% of NYC.

 

[dandy]

Add up everything in life......I'll bet that Argentina is the cheapest place....unless you can live without running water....It is cheaper than the Philippines, D.R., Mexico, Colombia, Thailand, C.R.

Is it more affordable than Thailand? While there might be less expensive destinations, not everyone resonates with the culture of those countries.

 

[dandy]

The challenge with Argentina lies in its unpredictability. It was costly for many things under Menem, then became more affordable. Currently, there's a possibility that it might become pricier again. In contrast, countries like Thailand or Mexico tend to have more consistent cost of living patterns.

 

[Radd]

I resided in Thailand for 6 years and spent 4 years in Phnom Penh, Cambodia. The cost of living greatly depends on the location within each country, as rural areas in Thailand or Cambodia are much more affordable than the major cities. I had the opportunity to live in both big cities in each country.

In Bangkok, Thailand, I rented a new one-bedroom apartment with a pool and all amenities, just one block from the sky train in Prakanong, for $200. It was a beautiful place! Street food, where you find most of the delicious options, cost around $1 and included a main dish, soup, and a drink.

In more rural parts of Thailand, I paid $75 for a one-bedroom apartment. In Phnom Penh, Cambodia, I had a luxurious 2-bedroom apartment for $200, but I also rented a studio for just $60 initially. Street food in Cambodia was incredibly affordable, with a meal costing around 50 cents.

Eventually, I decided to build a house on half an acre near the beach in a small fishing village near Chumphon, Thailand. The total cost was $22,000, including the half-acre land lease for 30 years plus an additional 30 years. The house itself was 2800 square feet.

 

[Radd]

Yes, it's very cheap in Argentina. Even if Argentina ever could truly dollarize (I don't see that happening anytime soon). It won't be expensive like it was before.

I'm not sure if Argentina is cheaper than Bangkok. I was just there not long ago and it was very very very very cheap. If it weren't for the horrible hot and humid weather it would be great. I took a family of 5 to eat a delicious and fresh meal and it was only around $20 US. No where even in Buenos Aires you can eat that cheap. Some places like Terminal 21 upstairs in the food court where you had fabulous food that was really fresh we had meals for as low as $12 for the 5 of us.

Things like 1 hour massage in Bangkok (and much of Thailand) I was paying $6 US per hour. In Buenos Aires I pay $10 per hour at a comparable place.

In Buenos Aires at most places were were still spending on average about $70 US dollars for the 5 of us by the time you added up appetizers, main entre, drinks and dessert.

Some of these places this guy is saying are affordable, aren't really that affordable. Colombia isn't really cheap. And he mentions Cali which is a complete DUMP. No one would want to live there. Colombia things are expensive. Food isn't too cheap, electricty is expensive. He mentions Cartagena which is way overpriced. I find most cities in Colombia to be a dump.

Argentina is VERY cheap and the quality of life is amazing here. Especially Buenos Aires. NOT a place to live if you have to make money here but if RETIREMENT is where you want to live, I don't think it gets any better. I've been to over 575+ cities around the world. About 125 countries. Buenos Aires is amazing to retire to.

Incidentally, as I was reading this, I recalled getting Thai massages frequently for $5 per hour. I even found options as affordable as $1.60 in Bangkok, particularly at a temple.

 

[Nasdaq]

I'm acquainted with individuals residing in another South American country who were content there. However, after a visit to Buenos Aires, they were astounded by the lifestyle the city offered and how reasonably priced it was. They've now made Belgrano their home! . I can't think of any place on the planet where I can start my day with a personal training session in a fantastic gym, enjoy a nice coffee before meeting my incredible tennis coach on a Roland Garros-quality court, and then savor a delightful lunch. After some rest at home, I can head out for a round of golf, have an aperitif with my friends, and cap off the day at a Peruvian cebicheria (a genuine fine dining experience), all for less than USD 70. It may sound unbelievable, but it's true! I can provide a detailed breakdown for anyone who might doubt it.

Yes, Buenos Aires is a very special place. Very reasonable. Belgrano is a fine area.

 

[Uncle Wong]

Yes, Buenos Aires is a very special place. Very reasonable. Belgrano is a fine area.

I have many friends living in Belgrano near Chinatown and they really love it. They say it is so wonderful the amount of growth in Chinatown. All the Porteños they mentioned are so kind and welcomed them to their country. I go to Chinatown often and like Belgrano.

 

[Betsy Ross]

I have many friends living in Belgrano near Chinatown and they really love it. They say it is so wonderful the amount of growth in Chinatown. All the Porteños they mentioned are so kind and welcomed them to their country. I go to Chinatown often and like Belgrano.

Chinatown has really boomed. I enjoy going. I can't believe how crowded it gets on the weekends.