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:
- $ 52 for 2 ppl.
- $ 16 per person
- $ 1.9 per person
- Free activities
Total budget:
$ 1202* (966 PAB)
Average budget
(traveller)
Daily budget:
- $ 101 for 2 ppl.
- $ 29 per person
- $ 16 per person
- $ 6.9 per person
Total budget:
$ 2835* (2268 PAB)
High budget
(tourist)
Daily budget:
- $ 155 for 2 ppl.
- $ 49 per person
- $ 40 per person
- $ 14 per person
Total budget:
$ 5026* (4018 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 2022
Cost of living: Panama VS United States
On average, the cost of living in Panama in 2022 is 21% 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:
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 |
|---|---|---|
| Boquete | 14% more | Travel budget and cost of living in Boquete |
| Panama City | 4% less | Travel budget and cost of living in Panama City |
| David | 11% less | Travel budget and cost of living in David |
| San Miguelito | 16% less | Travel budget and cost of living in San Miguelito |
| Aguadulce | 18% less | Travel budget and cost of living in Aguadulce |
Local prices in Panama by expense type
Panama: Restaurant budget
On average, budget for eating in a restaurant in Panama costs 35% less than in the United States (USA).
Lunch
$ 8.7/person
($ 5 to $ 20)
($ 5 to $ 20)
55% less than in the United States (USA)
Average price in the United States (USA): $ 203 course dinner
$ 30/person
($ 22 to $ 45)
($ 22 to $ 45)
26% less than in the United States (USA)
Average price in the United States (USA): $ 41McDonald's meal
$ 8.7/person
($ 7.5 to $ 10)
($ 7.5 to $ 10)
16% less than in the United States (USA)
Average price in the United States (USA): $ 10.5Local beer
$ 2.5 for 500ml
($ 1.3 to $ 3.7)
($ 1.3 to $ 3.7)
59% less than in the United States (USA)
Average price in the United States (USA): $ 6.2Imported beer
$ 2.3 for 330ml
($ 1.3 to $ 3.1)
($ 1.3 to $ 3.1)
40% less than in the United States (USA)
Average price in the United States (USA): $ 3.8Cappuccino
$ 3.8/cup
($ 1.9 to $ 5.6)
($ 1.9 to $ 5.6)
31% less than in the United States (USA)
Average price in the United States (USA): $ 5.6Fizzy drink
$ 1.9/can
($ 1.3 to $ 3.1)
($ 1.3 to $ 3.1)
26% less than in the United States (USA)
Average price in the United States (USA): $ 2.5Water bottle
$ 1.4/bottle
($ 1.3 to $ 2.5)
($ 1.3 to $ 2.5)
27% less than in the United States (USA)
Average price in the United States (USA): $ 2Panama: Hotel and accommodation budget
On average, hotel and accommodation budget in Panama costs 38% less than in the United States (USA).
1-star hotel
$ 67/night
($ 66 to $ 70)
($ 66 to $ 70)
44% less than in the United States (USA)
Average price in the United States (USA): $ 1212-star hotel
$ 72/night
($ 51 to $ 102)
($ 51 to $ 102)
48% less than in the United States (USA)
Average price in the United States (USA): $ 1393-star hotel
$ 131/night
($ 94 to $ 186)
($ 94 to $ 186)
34% less than in the United States (USA)
Average price in the United States (USA): $ 1994-star hotel
$ 180/night
($ 144 to $ 235)
($ 144 to $ 235)
38% less than in the United States (USA)
Average price in the United States (USA): $ 2915-star hotel
$ 224/night
($ 188 to $ 273)
($ 188 to $ 273)
62% less than in the United States (USA)
Average price in the United States (USA): $ 602Hostel/Youth Hostel
$ 59/month
($ 46 to $ 81)
($ 46 to $ 81)
53% less than in the United States (USA)
Average price in the United States (USA): $ 126Room with kitchen
$ 143/month
($ 100 to $ 200)
($ 100 to $ 200)
25% less than in the United States (USA)
Average price in the United States (USA): $ 192Hotel with swimming pool
$ 145/month
($ 94 to $ 214)
($ 94 to $ 214)
18% less than in the United States (USA)
Average price in the United States (USA): $ 177Cottage or guest house
$ 101/month
($ 78 to $ 138)
($ 78 to $ 138)
58% less than in the United States (USA)
Average price in the United States (USA): $ 243Family room
$ 174/month
($ 118 to $ 249)
($ 118 to $ 249)
4% less than in the United States (USA)
Average price in the United States (USA): $ 182Panama: Supermarket food budget
On average, the price of supermarket food in Panama costs 23% less than in the United States (USA).
Milk
$ 2/litre
($ 1.7 to $ 2.4)
($ 1.7 to $ 2.4)
72% more than in the United States (USA)
Average price in the United States (USA): $ 1.1Bread
$ 2.6/500g
($ 1.3 to $ 3.7)
($ 1.3 to $ 3.7)
29% less than in the United States (USA)
Average price in the United States (USA): $ 3.6Rice
$ 2.4/kg
($ 1.3 to $ 5)
($ 1.3 to $ 5)
52% less than in the United States (USA)
Average price in the United States (USA): $ 5Eggs
$ 2.6/12 eggs
($ 1.9 to $ 3.1)
($ 1.9 to $ 3.1)
33% less than in the United States (USA)
Average price in the United States (USA): $ 3.9Chicken
$ 8.1/kg
($ 3.7 to $ 10.6)
($ 3.7 to $ 10.6)
43% less than in the United States (USA)
Average price in the United States (USA): $ 15Apples
$ 3.5/kg
($ 1.8 to $ 8.1)
($ 1.8 to $ 8.1)
40% less than in the United States (USA)
Average price in the United States (USA): $ 5.8Tomatoes
$ 3.5/kg
($ 1.3 to $ 5.3)
($ 1.3 to $ 5.3)
36% less than in the United States (USA)
Average price in the United States (USA): $ 5.4Potatoes
$ 2.4/kg
($ 1.4 to $ 3)
($ 1.4 to $ 3)
28% less than in the United States (USA)
Average price in the United States (USA): $ 3.3Water bottle
$ 1.9
($ 1.3 to $ 3)
($ 1.3 to $ 3)
20% less than in the United States (USA)
Average price in the United States (USA): $ 2.3Panama: Public and private transport budget
On average, the price of transport in Panama costs 33% less than in the United States (USA).
Bus ticket
$ 0.5/ticket
($ 0.4 to $ 1.3)
($ 0.4 to $ 1.3)
85% less than in the United States (USA)
Average price in the United States (USA): $ 3.1Taxi (per km)
$ 2.5/km
($ 1.3 to $ 3.7)
($ 1.3 to $ 3.7)
26% more than in the United States (USA)
Average price in the United States (USA): $ 2Petrol
$ 1.3/litre
($ 1.1 to $ 1.8)
($ 1.1 to $ 1.8)
16% less than in the United States (USA)
Average price in the United States (USA): $ 1.6Taxi (initial pick-up charge)
$ 2.5
($ 1.9 to $ 3.7)
($ 1.9 to $ 3.7)
37% less than in the United States (USA)
Average price in the United States (USA): $ 4Car 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: Leisure activity budget
On average, budget for leisure activities in Panama is 11% more expensive than in the United States (USA).
Cinema
$ 6.9/ticket
($ 5 to $ 8.7)
($ 5 to $ 8.7)
53% less than in the United States (USA)
Average price in the United States (USA): $ 15Tennis
$ 38/hr
($ 20 to $ 64)
($ 20 to $ 64)
76% more than in the United States (USA)
Average price in the United States (USA): $ 22Panama: Budget for clothes and price of cigarettes
On average, shopping budget in Panama costs 6% less than in the United States (USA).
Cigarettes
$ 7.2/pack
($ 6.2 to $ 10)
($ 6.2 to $ 10)
33% less than in the United States (USA)
Average price in the United States (USA): $ 11Levi's jeans
$ 58
($ 33 to $ 83)
($ 33 to $ 83)
2% more than in the United States (USA)
Average price in the United States (USA): $ 57Summer dress
$ 51
($ 33 to $ 76)
($ 33 to $ 76)
14% more than in the United States (USA)
Average price in the United States (USA): $ 45Plane ticket budget
New York City → Panama City
$ 500
(fair price: $ 385)
(fair price: $ 385)
London → Panama City
$ 808
(fair price: $ 694)
(fair price: $ 694)
Los Angeles → Panama City
$ 783
(fair price: $ 539)
(fair price: $ 539)
Toronto (Ontario) → Panama City
$ 682
(fair price: $ 548)
(fair price: $ 548)
Montreal → Panama City
$ 704
(fair price: $ 569)
(fair price: $ 569)
Atlanta → Panama City
$ 610
(fair price: $ 446)
(fair price: $ 446)
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 29-09-2022.
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