Wi an averageGDPper capita o US$11,700,[4] Panama haes been amang the tap five places for retirement in the warld, accordin tae theInternaitional Living magazine. Panama Ceety haes a dense skyline o maistly heichhrise biggins, an it is surroondit bi a lairge belt otropical rainforest. It haes an advanced communications service, Internet uise is widespread; an Panama'sTocumen International Airport, the biggest an busiest airport o Central Americae, affers daily flichts tae major internaitional destinations.
Panama wis foondit on August 15, 1519, bi the SpainyieconquistadorPedro Arias de Ávila. The ceety wis the stairtin pynt o expeditions that conquered theInca Empire inPeru (1532). It wis a stopower pynt o ane o the maist importanttrade routes in the history o the American continent leadin tae the fairs oNombre de Dios anPortobelo, whaur maist o the gowd an siller that Spain teuk frae the Americas passed throu.[5] The ceety wis destroyed bi a devastatin fire, when thepirateHenry Morgan sacked it on Januar 28, 1671. It wis rebuilt an formally established on Januar 21, 1673, in a peninsula locatit 8 km frae the oreeginal dounset. The place whaur the previously devastatit ceety wis locatit is still in ruins, an haes acome a tourist attraction kent as "Panama Viejo".
