Why Panama? "one of the best-kept travellers' secrets in Central America,  

  outstanding natural beauty, astounding biodiversity."   ROUGH GUIDES

So like the US : with the dollar as it's currency as well as all the conveniences like high speed internet.
Yet So different : Latin traditions, 7 different indigenous Tribes, Jungle, Tropical Beaches, coral reefs for snorkeling, forts to visit, the best bird watching in the world, fishing
 

The TV programme Survivor has discovered Panama; land of 2 oceans, tropical islands, pristine beaches, jungle, tribes, nature and tradition.

now discovered by the  TV programme Survivor

Why Panama City?
 it's the center of it all very much a modern commercial vibrant city yet close to the Jungle (The Smithonian Institute employs 4000 people here). A world banking center (the Switzerland of the Americas) and center of commerce.
 cosmopolitan with large Afro-Caribbean, Chinese and other communities.

In our neighborhood you will find : cinemas in English and Spanish, theaters, bookstores, high schools and universities, internet cafes, video arcades, our middle class homestay families, medical clinics a 24 hour king-size supermarket, a power house gymnasium etc and yet in less than 40 minutes you can be on tropical islands, in the jungle, on the lake fishing, or in indigenous villages.

...did we mention there's a Canal there too ?