I lived in Panama for several years it's not all that great imho. Panama City is a mess, dirty oily pollution due to the cheap gas they use. that crap gets stuck to everything. Horrible traffic and I mean HORRIBLE. Outside Panama City the people are nicer but hard to find a nice place to live and it rains in Panama severely for at leat 5 months, then a few more months where it's still pretty bad. There is excellent weather from about Jan-Mar, that's their summer but the other 9 months are hot, humid, rainy, miserable.
Also very poor and desperate people if you have anything of value it will get stolen eventually, unless you're in a condo in Panama City.
In short, an almost nice place to visit for those 3 months of good weather. Other than that no way.