Travel budget and cost of living in Panama how much does a trip cost?
Are you planning to go to Panama and need to budget for your trip? On this page you can see sample prices. This enables you to get to grips with actual prices and the cost of living in Panama. Then, why not use our free tool to calculate your Panama travel budget.
Travel budget in Panama
Panama: calculate your travel budget
Panama: sample budgets by traveller type
These example budgets assume a 2-week holiday in Panama for 2 people.
Low budget
(backpacker)
Daily budget:
- $ 53 for 2 ppl.
- $ 13 per person
- $ 1 per person
- Free activities
Total budget:
$ 1115* (1106 PAB)
Average budget
(traveller)
Daily budget:
- $ 107 for 2 ppl.
- $ 26 per person
- $ 12 per person
- $ 6.5 per person
Total budget:
$ 2727* (2688 PAB)
High budget
(tourist)
Daily budget:
- $ 164 for 2 ppl.
- $ 42 per person
- $ 33 per person
- $ 13 per person
Total budget:
$ 4725* (4634 PAB)
* Estimated local budget for 2 people for 2 weeks. This represents an average across the country (budget may vary depending on the city or region visited).
Cost of living in Panama in 2020
Cost of living: Panama VS United States
On average, the cost of living in Panama in 2020 is essentially the same as in the United States (USA)
The graphic below shows the percentage of variation between prices United States in in the United States (USA) and United States by types of expenses:
Explore each type of expense in detail:
Cost of living in Panama by city
See the table below for the variation in the cost of living in different cities in Panama compared to the national average.
| Cities | /Panama | View Details |
|---|---|---|
| Panama City | 4% more | Travel budget and cost of living in Panama City |
| Boquete | 14% less | Travel budget and cost of living in Boquete |
| David | 17% less | Travel budget and cost of living in David |
| Aguadulce | 22% less | Travel budget and cost of living in Aguadulce |
| San Miguelito | 28% less | Travel budget and cost of living in San Miguelito |
Local prices in Panama by expense type
Panama: Restaurant budget
On average, budget for eating in a restaurant in Panama costs 29% less than in the United States (USA).
Lunch
$ 10.3/person
($ 4.7 to $ 22)
($ 4.7 to $ 22)
33% less than in the United States (USA)
Average price in the United States (USA): $ 163 course dinner
$ 24/person
($ 13 to $ 42)
($ 13 to $ 42)
19% less than in the United States (USA)
Average price in the United States (USA): $ 29McDonald's meal
$ 7.2/person
($ 6.1 to $ 8.2)
($ 6.1 to $ 8.2)
12% less than in the United States (USA)
Average price in the United States (USA): $ 8.2Local beer
$ 2 for 500ml
($ 1.1 to $ 5.1)
($ 1.1 to $ 5.1)
59% less than in the United States (USA)
Average price in the United States (USA): $ 5.1Imported beer
$ 2.3 for 330ml
($ 1.3 to $ 3.1)
($ 1.3 to $ 3.1)
24% less than in the United States (USA)
Average price in the United States (USA): $ 3Cappuccino
$ 3/cup
($ 1.6 to $ 4.1)
($ 1.6 to $ 4.1)
30% less than in the United States (USA)
Average price in the United States (USA): $ 4.3Fizzy drink
$ 1.4/can
($ 1.1 to $ 2)
($ 1.1 to $ 2)
26% less than in the United States (USA)
Average price in the United States (USA): $ 1.9Water bottle
$ 1.1/bottle
($ 1.1 to $ 2)
($ 1.1 to $ 2)
29% less than in the United States (USA)
Average price in the United States (USA): $ 1.6Panama: Hotel and accommodation budget
On average, hotel and accommodation budget in Panama costs 33% less than in the United States (USA).
1-star hotel
$ 66/night
($ 60 to $ 71)
($ 60 to $ 71)
39% less than in the United States (USA)
Average price in the United States (USA): $ 1092-star hotel
$ 73/night
($ 53 to $ 95)
($ 53 to $ 95)
41% less than in the United States (USA)
Average price in the United States (USA): $ 1263-star hotel
$ 141/night
($ 115 to $ 179)
($ 115 to $ 179)
21% less than in the United States (USA)
Average price in the United States (USA): $ 1804-star hotel
$ 187/night
($ 143 to $ 237)
($ 143 to $ 237)
28% less than in the United States (USA)
Average price in the United States (USA): $ 2625-star hotel
$ 210/night
($ 185 to $ 250)
($ 185 to $ 250)
58% less than in the United States (USA)
Average price in the United States (USA): $ 510Hotel/Youth Hostel
$ 58/month
($ 48 to $ 70)
($ 48 to $ 70)
57% less than in the United States (USA)
Average price in the United States (USA): $ 136Room with kitchen
$ 121/month
($ 72 to $ 190)
($ 72 to $ 190)
28% less than in the United States (USA)
Average price in the United States (USA): $ 169Hotel with swimming pool
$ 176/month
($ 146 to $ 213)
($ 146 to $ 213)
7% more than in the United States (USA)
Average price in the United States (USA): $ 165Cottage or guest house
$ 85/month
($ 67 to $ 108)
($ 67 to $ 108)
61% less than in the United States (USA)
Average price in the United States (USA): $ 223Family room
$ 164/month
($ 118 to $ 226)
($ 118 to $ 226)
6% less than in the United States (USA)
Average price in the United States (USA): $ 175Panama: Supermarket food budget
On average, the price of supermarket food in Panama costs 12% less than in the United States (USA).
Milk
$ 1.6/litre
($ 1.3 to $ 2)
($ 1.3 to $ 2)
82% more than in the United States (USA)
Average price in the United States (USA): $ 0.9Bread
$ 2/500g
($ 1.1 to $ 3)
($ 1.1 to $ 3)
27% less than in the United States (USA)
Average price in the United States (USA): $ 2.8Rice
$ 1.9/kg
($ 1 to $ 3.8)
($ 1 to $ 3.8)
53% less than in the United States (USA)
Average price in the United States (USA): $ 4.1Eggs
$ 2.2/12 eggs
($ 1.6 to $ 3.1)
($ 1.6 to $ 3.1)
10% less than in the United States (USA)
Average price in the United States (USA): $ 2.4Cheese
$ 10.6/kg
($ 4.1 to $ 45)
($ 4.1 to $ 45)
6% less than in the United States (USA)
Average price in the United States (USA): $ 12Chicken
$ 7.8/kg
($ 5.5 to $ 11)
($ 5.5 to $ 11)
15% less than in the United States (USA)
Average price in the United States (USA): $ 9.1Apples
$ 3.6/kg
($ 1.6 to $ 5.6)
($ 1.6 to $ 5.6)
24% less than in the United States (USA)
Average price in the United States (USA): $ 4.7Oranges
$ 2.7/kg
($ 1.1 to $ 6.1)
($ 1.1 to $ 6.1)
34% less than in the United States (USA)
Average price in the United States (USA): $ 4.1Tomatoes
$ 2.9/kg
($ 1.6 to $ 5.1)
($ 1.6 to $ 5.1)
36% less than in the United States (USA)
Average price in the United States (USA): $ 4.4Potatoes
$ 2.2/kg
($ 1 to $ 3.1)
($ 1 to $ 3.1)
19% less than in the United States (USA)
Average price in the United States (USA): $ 2.7Salad
$ 1.8/salad
($ 0.8 to $ 2.6)
($ 0.8 to $ 2.6)
10% more than in the United States (USA)
Average price in the United States (USA): $ 1.7Water bottle
$ 1.6
($ 1.1 to $ 2)
($ 1.1 to $ 2)
17% less than in the United States (USA)
Average price in the United States (USA): $ 1.9Joint of beef
$ 11/kg
($ 3.9 to $ 22)
($ 3.9 to $ 22)
14% less than in the United States (USA)
Average price in the United States (USA): $ 13Panama: Public and private transport budget
On average, the price of transport in Panama costs 34% less than in the United States (USA).
Bus ticket
$ 0.2/ticket
($ 0.2 to $ 0.4)
($ 0.2 to $ 0.4)
89% less than in the United States (USA)
Average price in the United States (USA): $ 2.4Bus pass
$ 27/month
($ 16 to $ 63)
($ 16 to $ 63)
65% less than in the United States (USA)
Average price in the United States (USA): $ 75Taxi (per km)
$ 2/km
($ 1.8 to $ 3.1)
($ 1.8 to $ 3.1)
20% more than in the United States (USA)
Average price in the United States (USA): $ 1.7Petrol
$ 0.8/litre
($ 0.7 to $ 1)
($ 0.7 to $ 1)
16% more than in the United States (USA)
Average price in the United States (USA): $ 0.7Taxi (initial pick-up charge)
$ 2.2
($ 1.6 to $ 3.1)
($ 1.6 to $ 3.1)
34% less than in the United States (USA)
Average price in the United States (USA): $ 3.3Car hire
$ 20/24hrs
($ 11 to $ 78)
($ 11 to $ 78)
51% less than in the United States (USA)
Average price in the United States (USA): $ 40Panama: Budget for living and housing
On average, the cost of housing in Panama costs 37% less than in the United States (USA).
Electricity, water...
$ 101/month
($ 58 to $ 175)
($ 58 to $ 175)
39% less than in the United States (USA)
Average price in the United States (USA): $ 165Mobile phone
$ 0.1/min.
($ 0.1 to $ 0.2)
($ 0.1 to $ 0.2)
0% less than in the United States (USA)
Average price in the United States (USA): $ 0.1Broadband internet
$ 48/month
($ 35 to $ 78)
($ 35 to $ 78)
28% less than in the United States (USA)
Average price in the United States (USA): $ 67Studio flat (city centre)
$ 797/month
($ 513 to $ 1230)
($ 513 to $ 1230)
42% less than in the United States (USA)
Average price in the United States (USA): $ 1391Studio flat (suburbs)
$ 533/month
($ 309 to $ 820)
($ 309 to $ 820)
52% less than in the United States (USA)
Average price in the United States (USA): $ 1112Flat (centre)
$ 1493/month
($ 1025 to $ 2254)
($ 1025 to $ 2254)
33% less than in the United States (USA)
Average price in the United States (USA): $ 2230Flat (suburbs)
$ 966/month
($ 616 to $ 1537)
($ 616 to $ 1537)
45% less than in the United States (USA)
Average price in the United States (USA): $ 1762Gym
$ 49/month
($ 22 to $ 72)
($ 22 to $ 72)
28% more than in the United States (USA)
Average price in the United States (USA): $ 39Private nursery
$ 294/month
($ 124 to $ 513)
($ 124 to $ 513)
69% less than in the United States (USA)
Average price in the United States (USA): $ 964Private primary school
$ 8176/yr
($ 3073 to $ 18029)
($ 3073 to $ 18029)
51% less than in the United States (USA)
Average price in the United States (USA): $ 16769Panama: Leisure activity budget
On average, budget for leisure activities in Panama is essentially the same as in the United States (USA).
Cinema
$ 6.5/ticket
($ 5.1 to $ 10.3)
($ 5.1 to $ 10.3)
47% less than in the United States (USA)
Average price in the United States (USA): $ 13Tennis
$ 26/hr
($ 10.3 to $ 36)
($ 10.3 to $ 36)
52% more than in the United States (USA)
Average price in the United States (USA): $ 17Panama: Budget for clothes and price of cigarettes
On average, shopping budget in Panama costs 8% less than in the United States (USA).
Cigarettes
$ 5.9/pack
($ 5.1 to $ 8.2)
($ 5.1 to $ 8.2)
27% less than in the United States (USA)
Average price in the United States (USA): $ 8.2Levi's jeans
$ 47
($ 26 to $ 78)
($ 26 to $ 78)
1% more than in the United States (USA)
Average price in the United States (USA): $ 46Summer dress
$ 40
($ 22 to $ 72)
($ 22 to $ 72)
7% more than in the United States (USA)
Average price in the United States (USA): $ 38Trainers
$ 70
($ 42 to $ 94)
($ 42 to $ 94)
11% less than in the United States (USA)
Average price in the United States (USA): $ 78Leather shoes
$ 91
($ 47 to $ 130)
($ 47 to $ 130)
8% less than in the United States (USA)
Average price in the United States (USA): $ 100Plane ticket budget
New York City → Panama City
$ 645
(fair price: $ 515)
(fair price: $ 515)
London → Panama City
$ 815
(fair price: $ 709)
(fair price: $ 709)
Los Angeles → Panama City
$ 716
(fair price: $ 562)
(fair price: $ 562)
Toronto (Ontario) → Panama City
$ 579
(fair price: $ 508)
(fair price: $ 508)
Montreal → Panama City
$ 636
(fair price: $ 525)
(fair price: $ 525)
Manchester → Panama City
$ 936
(fair price: $ 782)
(fair price: $ 782)
Dublin → Panama City
$ 985
(fair price: $ 848)
(fair price: $ 848)
Sydney → Panama City
$ 1783
(fair price: $ 1569)
(fair price: $ 1569)
Edinburgh → Panama City
$ 922
(fair price: $ 789)
(fair price: $ 789)
Melbourne → Panama City
$ 1690
(fair price: $ 1487)
(fair price: $ 1487)
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About the information on the cost of living in Panama
The information about the cost of living in Panama shown on this page comes from multiple sources, including : Numbeo, Easyvoyage and Hotels.com.
Information about cost of living in Panama updated on 29-09-2020.