I have lived here in Santo Domingo for the last 3 years, and I enjoy it. But recently several friends have been going to Panama and coming back with very favorable opinions.
As far as getting foreigners to move there I would say that Panama has the DR beat, hands down. Check out this site for more information:
panamainfo.com
Panam? has been getting plenty of attention in the US. The DR is just now starting to appear in the radar screen, but there are slight differences in both.
For example, Panam? usually is presented as "the" place for retirement and whereas the DR is presented more as "the" place for investments, particularly the holiday home property types.
For example, the DR was not too long ago featured on CNBC and it was all about the investments being made in Cap Cana and in Roco Ki, how Westin Hotels and Resorts sold $100 million worth of real estate in one day without breaking ground on their projects, the new investments occuring on the north coast, economic growth, etc. They did touched on the retirees moving to the DR and such, but most of it was about investments and making money (which, given that it was on CNBC, that should be no surprise!)
Also not too long ago, on ABC they had a special report on Panam? and while they focused a little on the investments being made in Panam? City, particularly the luxury condominium and luxury gated communities and they mentioned Donald Trump's involvement in his first Trump Tower in Latin America being built in Panam?. Despite all of that, the bulk of the report was on how many Americans are moving there for retirement, how much lower their living expenses are, etc.
One topic that neither report mentioned, but both countries are experiencing is the issue of crime. Personally, I think the DR and Panam? are very safe countries where mostly fools are victim of crimes. Of course, from time to time bad luck has something to do with it, but as long that people realize that they are on planet earth and not on "la la" land, they should be fine.
But, in both countries you'll find the popular use of bars on windows, drug trafficking, increasing prevealance of youth gangs, etc.
Is it something out of this world? No. Is it something to worry about? I don't think so. Is it something to be informed about? Absolutely.
But, that's how Panam? is being painted vs. the DR and perhaps, that is having an effect on the flows of retired foreigners to the DR vs. Panam?. But, over 90% of retiring babyboomers have not retired yet and the current trickle is going to become a flood, that's for sure.
-NALs