Travel budget and cost of living in Panama how much does a trip cost?

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.

* 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 2023

Cost of living: Panama VS United States

On average, the cost of living in Panama in 2023 is 26% less than 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:

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.

Local prices in Panama by expense type

Panama: Restaurant budget

Lunch

$ 7.6/person
($ 4.3 to $ 17)

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59% less than in the United States (USA) Average price in the United States (USA): $ 19

3 course dinner

$ 28/person
($ 18 to $ 42)

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31% less than in the United States (USA) Average price in the United States (USA): $ 40

McDonald's meal

$ 7.6/person
($ 6.5 to $ 8.7)

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23% less than in the United States (USA) Average price in the United States (USA): $ 9.9

Local beer

$ 2.2 for 500ml
($ 1.1 to $ 3.2)

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60% less than in the United States (USA) Average price in the United States (USA): $ 5.5

Imported beer

$ 1.9 for 330ml
($ 1.1 to $ 3.2)

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48% less than in the United States (USA) Average price in the United States (USA): $ 3.7

Cappuccino

$ 3.3/cup
($ 1.3 to $ 5.4)

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33% less than in the United States (USA) Average price in the United States (USA): $ 5.1

Fizzy drink

$ 1.7/can
($ 1.1 to $ 2.2)

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36% less than in the United States (USA) Average price in the United States (USA): $ 2.5

Water bottle

$ 1.3/bottle
($ 1.1 to $ 2.2)

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37% less than in the United States (USA) Average price in the United States (USA): $ 2

Panama: Hotel and accommodation budget

1-star hotel

$ 70/night
($ 67 to $ 71)

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44% less than in the United States (USA) Average price in the United States (USA): $ 126

2-star hotel

$ 75/night
($ 52 to $ 108)

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49% less than in the United States (USA) Average price in the United States (USA): $ 146

3-star hotel

$ 131/night
($ 94 to $ 188)

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37% less than in the United States (USA) Average price in the United States (USA): $ 208

4-star hotel

$ 194/night
($ 150 to $ 260)

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36% less than in the United States (USA) Average price in the United States (USA): $ 305

5-star hotel

$ 234/night
($ 194 to $ 281)

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64% less than in the United States (USA) Average price in the United States (USA): $ 653

Hostel/Youth Hostel

$ 61/month
($ 48 to $ 84)

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53% less than in the United States (USA) Average price in the United States (USA): $ 131

Room with kitchen

$ 147/month
($ 106 to $ 206)

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25% less than in the United States (USA) Average price in the United States (USA): $ 198

Hotel with swimming pool

$ 149/month
($ 96 to $ 223)

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20% less than in the United States (USA) Average price in the United States (USA): $ 187

Cottage or guest house

$ 102/month
($ 78 to $ 136)

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59% less than in the United States (USA) Average price in the United States (USA): $ 250

Family room

$ 179/month
($ 121 to $ 271)

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6% less than in the United States (USA) Average price in the United States (USA): $ 192

Panama: Supermarket food budget

Milk

$ 1.8/litre
($ 1.6 to $ 2.2)

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55% more than in the United States (USA) Average price in the United States (USA): $ 1.1

Bread

$ 2.3/500g
($ 1.1 to $ 3.2)

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35% less than in the United States (USA) Average price in the United States (USA): $ 3.6

Rice

$ 1.9/kg
($ 1 to $ 3.2)

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57% less than in the United States (USA) Average price in the United States (USA): $ 4.5

Eggs

$ 2.4/12 eggs
($ 1.7 to $ 2.9)

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46% less than in the United States (USA) Average price in the United States (USA): $ 4.3

Chicken

$ 7.3/kg
($ 3.6 to $ 9.1)

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43% less than in the United States (USA) Average price in the United States (USA): $ 14

Apples

$ 3.2/kg
($ 1.7 to $ 7)

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37% less than in the United States (USA) Average price in the United States (USA): $ 5.3

Tomatoes

$ 3.2/kg
($ 1.1 to $ 4.5)

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35% less than in the United States (USA) Average price in the United States (USA): $ 4.9

Potatoes

$ 2/kg
($ 1.1 to $ 2.6)

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31% less than in the United States (USA) Average price in the United States (USA): $ 3

Water bottle

$ 1.7
($ 1.1 to $ 2.6)

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22% less than in the United States (USA) Average price in the United States (USA): $ 2.1

Panama: Public and private transport budget

Bus ticket

$ 0.4/ticket
($ 0.2 to $ 1.7)

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86% less than in the United States (USA) Average price in the United States (USA): $ 2.7

Taxi (per km)

$ 2.2/km
($ 1.1 to $ 3.2)

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18% more than in the United States (USA) Average price in the United States (USA): $ 1.8

Petrol

$ 1.2/litre
($ 1 to $ 1.6)

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5% more than in the United States (USA) Average price in the United States (USA): $ 1.1

Taxi (initial pick-up charge)

$ 2.2
($ 1.7 to $ 3.2)

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43% less than in the United States (USA) Average price in the United States (USA): $ 3.8

Car hire

$ 12/24hrs
($ 4.8 to $ 53)

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68% less than in the United States (USA) Average price in the United States (USA): $ 39

Panama: Leisure activity budget

Cinema

$ 6.5/ticket
($ 4.9 to $ 7.6)

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50% less than in the United States (USA) Average price in the United States (USA): $ 14

Tennis

$ 30/hr
($ 11 to $ 55)

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47% more than in the United States (USA) Average price in the United States (USA): $ 21

Panama: Budget for clothes and price of cigarettes

Cigarettes

$ 6.2/pack
($ 5.4 to $ 8.7)

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36% less than in the United States (USA) Average price in the United States (USA): $ 9.9

Levi's jeans

$ 53
($ 28 to $ 83)

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1% more than in the United States (USA) Average price in the United States (USA): $ 52

Summer dress

$ 45
($ 23 to $ 66)

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7% more than in the United States (USA) Average price in the United States (USA): $ 41

Plane ticket budget

New York City → Panama City

$ 478
(fair price: $ 385)

London → Panama City

$ 809
(fair price: $ 702)

Los Angeles → Panama City

$ 802
(fair price: $ 555)

Toronto (Ontario) → Panama City

$ 716
(fair price: $ 570)

Montreal → Panama City

$ 731
(fair price: $ 590)

Atlanta → Panama City

$ 654
(fair price: $ 477)