Comparing costs of living

How loyal are you to your employer? Probably not at all, even though you may love your job

BARRY LLOYD
barryjo46@yahoo.co.uk

Panama has one of the lowest costs of living in Central and South America. Colombia is cheaper if you don't mind being an occasional kidnap/ robbery victim. Many Colombians come here and set up businesses in a safer environment.

Honduras is one of the few countries which are cheaper than here however, but they lack infrastructure like phones, medical care etc. Ecuador has some infrastructure and is cheap but has multiple problems. Costa Rica used to be cheap but now has increasing economic problems to contend with. It is debatable if Mexico is cheaper but we know how dangerous it is. So Panama generally comes out ahead.

That said I really cannot comprehend what’s going on with the government and private business. The inevitable increase in tourism and the real estate boom has increased the cost of living significantly over the last five years. It is still cheap especially for foreigners but, not as cheap as it was. The canal itself brings in over a billion dollars a year in revenue; also the tourism industry generates over two billion.

So why does the government not give yearly cost of living rises to its employees? Why do we have to go through regular protests blocking the public highway for anybody to listen to their pleas for a few dollars more after not having had a pay rise for sometimes as long as ten years!

Private businesses are no better: the only way you get any form of extra money is if you get promoted or leave for an alternate employer who pays more. Sometimes if you are very lucky they may give you a small bonus and possibly a Christmas party, but that is all.

This really is pitiful when you see the boss with a Lexus or a Ferrari and his employees on barely a livable wage. That is why so many of them seek additional employment elsewhere.

I know a few policemen who drive taxis; secretaries who work for students to prepare their coursework for college; call center workers working in multiple establishments; even journalists do freelance work to supplement their incomes.

There are many examples of this throughout Panama and it has turned almost into a way of life. Having lived in different countries around the world this is by no means a normal working policy for employees.

In North America, throughout Europe every employee I worked for used to automatically give a yearly cost of living increase around April which normally coincided with annual government budgets. This could be 1% extra to a very generous 8% from President Carter in the 1980’s for all government workers.

How loyal are you to your employer? Probably not at all. Even though you may love your job, if someone offers you a few more dollars you would be gone, wouldn’t you? What happens then? Does your boss plead with you to stay and offer to match the salary offered elsewhere? I somehow doubt it. That is unless you have a particular skill few people have then he may be forced to act in your favor, but very reluctantly and only until someone else comes along who can match your skill base.

This really is very short sighted of employers be it private or government as it gives them a much faster turnover than they would have had if there was some profit scheme in place or a basic cost of living increase to offset the admittedly small but noticeable increase in the food basket. I tell you now you do not see workers in Europe or North America working every Saturday morning! Here, most people work Saturday mornings because they are contracted to, and even then on the same daily rate of pay.

Yes, Panama has a low cost of living but don’t abuse the workers in the process, they should be your most valuable asset.

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