Panama is one of the favorite places to live the retreat in Latin America and could take advantage of it to generate economic and social value through innovation, entrepreneurship and inclusion. Based on the above, authorities and specialists presented a proposal for Panama’s positioning as a “silver economy hub” and a program of national and international activities that are part of this initiative.

From the public sector, the Minister of Social Development (Mides), María Inés Castillo, explained that among the strategies that have been promoted for the benefit of the silver economy, is the law that promotes entrepreneurship in older adults, which regulates the Micro, Small and Medium Enterprises Authority.

The objective of this initiative is to promote the development of products and services that meet the needs of older people and promote the silver economy as an instrument of financial revitalization for all generations.

For Arletty Pinel, a specialist in public health and social development, public policies are essential, since without them you can’t really have a governing entity that manages to coordinate actions.

“Panama has all the capacity to become a hub of silver economy, just as Colombia was with the orange economy. Here in Panama we are already recognized worldwide as that retirement destination. We are always among the top three countries for retirement in the world, competing with Portugal and Costa Rica,” Pinel stressed.

According to the public health specialist, Latin America and the Caribbean is the fastest-aged region. In a short time you will have more people over 60 years of age, than under 15 years of age. “That growth will be progressive because it is predicted that one in four people will soon be over 60 years old,” he stressed.

To continue promoting the debate on the silver economy, the social development specialist revealed that Panama will host the Ibero-American Forum on Silver Economy 2023, which will be held from October 2 to 4 in the Latin American and Caribbean Parliament.