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 2021

Cost of living: Panama VS United States

On average, the cost of living in Panama in 2021 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:

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

$ 7.9/person
($ 3.9 to $ 21)

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46% less than in the United States (USA) Average price in the United States (USA): $ 15

3 course dinner

$ 23/person
($ 13 to $ 40)

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19% less than in the United States (USA) Average price in the United States (USA): $ 28

McDonald's meal

$ 6.9/person
($ 5.9 to $ 7.9)

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12% less than in the United States (USA) Average price in the United States (USA): $ 7.9

Local beer

$ 2 for 500ml
($ 1 to $ 3.9)

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59% less than in the United States (USA) Average price in the United States (USA): $ 4.9

Imported beer

$ 2 for 330ml
($ 1.2 to $ 3)

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26% less than in the United States (USA) Average price in the United States (USA): $ 2.7

Cappuccino

$ 2.9/cup
($ 1.4 to $ 3.9)

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31% less than in the United States (USA) Average price in the United States (USA): $ 4.2

Fizzy drink

$ 1.3/can
($ 1 to $ 2)

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29% less than in the United States (USA) Average price in the United States (USA): $ 1.9

Water bottle

$ 1.1/bottle
($ 1 to $ 2)

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30% less than in the United States (USA) Average price in the United States (USA): $ 1.5

Panama: Hotel and accommodation budget

1-star hotel

$ 66/night
($ 60 to $ 71)

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39% less than in the United States (USA) Average price in the United States (USA): $ 109

2-star hotel

$ 73/night
($ 53 to $ 95)

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41% less than in the United States (USA) Average price in the United States (USA): $ 126

3-star hotel

$ 141/night
($ 115 to $ 179)

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21% less than in the United States (USA) Average price in the United States (USA): $ 180

4-star hotel

$ 187/night
($ 143 to $ 237)

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28% less than in the United States (USA) Average price in the United States (USA): $ 262

5-star hotel

$ 210/night
($ 185 to $ 250)

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58% less than in the United States (USA) Average price in the United States (USA): $ 510

Hotel/Youth Hostel

$ 58/month
($ 48 to $ 70)

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52% less than in the United States (USA) Average price in the United States (USA): $ 122

Room with kitchen

$ 121/month
($ 72 to $ 190)

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28% less than in the United States (USA) Average price in the United States (USA): $ 169

Hotel with swimming pool

$ 176/month
($ 146 to $ 213)

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7% more than in the United States (USA) Average price in the United States (USA): $ 165

Cottage or guest house

$ 85/month
($ 67 to $ 108)

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61% less than in the United States (USA) Average price in the United States (USA): $ 223

Family room

$ 164/month
($ 118 to $ 226)

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6% less than in the United States (USA) Average price in the United States (USA): $ 175

Panama: Supermarket food budget

Milk

$ 1.6/litre
($ 1.2 to $ 2)

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81% more than in the United States (USA) Average price in the United States (USA): $ 0.8

Bread

$ 1.9/500g
($ 1 to $ 2.9)

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26% less than in the United States (USA) Average price in the United States (USA): $ 2.7

Rice

$ 1.9/kg
($ 0.8 to $ 3.6)

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51% less than in the United States (USA) Average price in the United States (USA): $ 3.9

Eggs

$ 2/12 eggs
($ 1.4 to $ 3)

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10% less than in the United States (USA) Average price in the United States (USA): $ 2.3

Cheese

$ 9.6/kg
($ 3.9 to $ 30)

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11% less than in the United States (USA) Average price in the United States (USA): $ 11

Chicken

$ 7.2/kg
($ 3 to $ 9.8)

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19% less than in the United States (USA) Average price in the United States (USA): $ 8.9

Apples

$ 3.2/kg
($ 1.4 to $ 5.4)

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27% less than in the United States (USA) Average price in the United States (USA): $ 4.5

Oranges

$ 2.6/kg
($ 1 to $ 5.9)

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33% less than in the United States (USA) Average price in the United States (USA): $ 3.9

Tomatoes

$ 2.6/kg
($ 1.1 to $ 4.9)

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37% less than in the United States (USA) Average price in the United States (USA): $ 4.2

Potatoes

$ 2/kg
($ 0.8 to $ 3)

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20% less than in the United States (USA) Average price in the United States (USA): $ 2.6

Salad

$ 1.7/salad
($ 0.8 to $ 2.5)

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7% more than in the United States (USA) Average price in the United States (USA): $ 1.6

Water bottle

$ 1.6
($ 1 to $ 2)

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15% less than in the United States (USA) Average price in the United States (USA): $ 1.8

Joint of beef

$ 9.4/kg
($ 3.8 to $ 21)

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23% less than in the United States (USA) Average price in the United States (USA): $ 13

Panama: Public and private transport budget

Bus ticket

$ 0.4/ticket
($ 0.2 to $ 0.5)

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86% less than in the United States (USA) Average price in the United States (USA): $ 2.2

Bus pass

$ 30/month
($ 15 to $ 60)

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57% less than in the United States (USA) Average price in the United States (USA): $ 70

Taxi (per km)

$ 2/km
($ 1.4 to $ 3)

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20% more than in the United States (USA) Average price in the United States (USA): $ 1.6

Petrol

$ 0.8/litre
($ 0.6 to $ 1)

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19% more than in the United States (USA) Average price in the United States (USA): $ 0.7

Taxi (initial pick-up charge)

$ 2
($ 1.4 to $ 3)

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38% less than in the United States (USA) Average price in the United States (USA): $ 3.2

Car hire

$ 20/24hrs
($ 11 to $ 78)

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51% less than in the United States (USA) Average price in the United States (USA): $ 40

Panama: Budget for living and housing

Electricity, water...

$ 89/month
($ 52 to $ 149)

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45% less than in the United States (USA) Average price in the United States (USA): $ 161

Mobile phone

$ 0.1/min.
($ 0.1 to $ 0.2)

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19% more than in the United States (USA) Average price in the United States (USA): $ 0.1

Broadband internet

$ 45/month
($ 30 to $ 70)

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32% less than in the United States (USA) Average price in the United States (USA): $ 65

Studio flat (city centre)

$ 726/month
($ 493 to $ 1181)

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45% less than in the United States (USA) Average price in the United States (USA): $ 1333

Studio flat (suburbs)

$ 464/month
($ 247 to $ 689)

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56% less than in the United States (USA) Average price in the United States (USA): $ 1070

Flat (centre)

$ 1371/month
($ 886 to $ 1967)

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35% less than in the United States (USA) Average price in the United States (USA): $ 2126

Flat (suburbs)

$ 886/month
($ 493 to $ 1476)

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47% less than in the United States (USA) Average price in the United States (USA): $ 1695

Gym

$ 45/month
($ 21 to $ 65)

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18% more than in the United States (USA) Average price in the United States (USA): $ 38

Private nursery

$ 279/month
($ 100 to $ 493)

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69% less than in the United States (USA) Average price in the United States (USA): $ 923

Private primary school

$ 7766/yr
($ 2705 to $ 17310)

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50% less than in the United States (USA) Average price in the United States (USA): $ 15597

Panama: Leisure activity budget

Cinema

$ 5.9/ticket
($ 4.9 to $ 8.4)

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49% less than in the United States (USA) Average price in the United States (USA): $ 12

Tennis

$ 27/hr
($ 9.8 to $ 46)

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64% more than in the United States (USA) Average price in the United States (USA): $ 16

Panama: Budget for clothes and price of cigarettes

Cigarettes

$ 5.6/pack
($ 4.9 to $ 7.9)

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28% less than in the United States (USA) Average price in the United States (USA): $ 7.9

Levi's jeans

$ 47
($ 26 to $ 75)

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5% more than in the United States (USA) Average price in the United States (USA): $ 45

Summer dress

$ 40
($ 21 to $ 65)

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8% more than in the United States (USA) Average price in the United States (USA): $ 36

Trainers

$ 70
($ 40 to $ 100)

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9% less than in the United States (USA) Average price in the United States (USA): $ 76

Leather shoes

$ 85
($ 46 to $ 124)

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11% less than in the United States (USA) Average price in the United States (USA): $ 95

Plane ticket budget

New York City → Panama City

$ 611
(fair price: $ 462)

London → Panama City

$ 781
(fair price: $ 671)

Los Angeles → Panama City

$ 782
(fair price: $ 542)

Toronto (Ontario) → Panama City

$ 581
(fair price: $ 510)

Montreal → Panama City

$ 634
(fair price: $ 520)

Manchester → Panama City

$ 899
(fair price: $ 750)

Dublin → Panama City

$ 972
(fair price: $ 836)

Edinburgh → Panama City

$ 903
(fair price: $ 760)

Sydney → Panama City

$ 1806
(fair price: $ 1575)

Melbourne → Panama City

$ 1703
(fair price: $ 1488)