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.
  • $ 14 per person
  • $ 1.7 per person
  • Free activities

Total budget:

$ 1146* (1148 PAB)

Average budget
(traveller)

Daily budget:

  • $ 100 for 2 ppl.
  • $ 28 per person
  • $ 11 per person
  • $ 6.6 per person

Total budget:

$ 2658* (2674 PAB)

High budget
(tourist)

Daily budget:

  • $ 140 for 2 ppl.
  • $ 49 per person
  • $ 28 per person
  • $ 14 per person

Total budget:

$ 4445* (4452 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 2024

Cost of living: Panama VS United States

Compare with the average cost of living in:

On average, the cost of living in Panama in 2024 is 24% 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.

Cities /Panama View Details
Boquete 8% moreTravel budget and cost of living in Boquete
Panama City 1% lessTravel budget and cost of living in Panama City
David 3% lessTravel budget and cost of living in David
San Miguelito 18% lessTravel budget and cost of living in San Miguelito
Aguadulce 23% lessTravel 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 39% less than in the United States (USA).
Lunch
Lunch
$ 11/person
($ 4.5 to $ 21)

49% less than in the United States (USA)United States Average price in the United States (USA): $ 20
3 course dinner
3 course dinner
$ 31/person
($ 19 to $ 45)

20% less than in the United States (USA)United States Average price in the United States (USA): $ 38
McDonald's meal
McDonald's meal
$ 8.1/person
($ 7 to $ 11)

23% less than in the United States (USA)United States Average price in the United States (USA): $ 11
Local beer
Local beer
$ 2 for 500ml
($ 1.3 to $ 4)

66% less than in the United States (USA)United States Average price in the United States (USA): $ 6
Imported beer
Imported beer
$ 1.8 for 330ml
($ 1 to $ 3)

47% less than in the United States (USA)United States Average price in the United States (USA): $ 3.5
Cappuccino
Cappuccino
$ 3.6/cup
($ 1.5 to $ 5.1)

30% less than in the United States (USA)United States Average price in the United States (USA): $ 5.1
Fizzy drink
Fizzy drink
$ 1.5/can
($ 1 to $ 3)

37% less than in the United States (USA)United States Average price in the United States (USA): $ 2.5
Water bottle
Water bottle
$ 1.2/bottle
($ 1 to $ 2)

39% less than in the United States (USA)United States Average price in the United States (USA): $ 2

Panama: Hotel and accommodation budget

On average, hotel and accommodation budget in Panama costs 42% less than in the United States (USA).
1-star hotel
1-star hotel
$ 76/night
($ 35 to $ 226)

44% less than in the United States (USA)United States Average price in the United States (USA): $ 135
2-star hotel
2-star hotel
$ 78/night
($ 44 to $ 177)

45% less than in the United States (USA)United States Average price in the United States (USA): $ 142
3-star hotel
3-star hotel
$ 121/night
($ 71 to $ 245)

40% less than in the United States (USA)United States Average price in the United States (USA): $ 204
4-star hotel
4-star hotel
$ 159/night
($ 89 to $ 311)

45% less than in the United States (USA)United States Average price in the United States (USA): $ 291
5-star hotel
5-star hotel
$ 147/night
($ 88 to $ 341)

71% less than in the United States (USA)United States Average price in the United States (USA): $ 520
Hostel/Youth Hostel
Hostel/Youth Hostel
$ 64/month
($ 40 to $ 132)

54% less than in the United States (USA)United States Average price in the United States (USA): $ 141
Room with kitchen
Room with kitchen
$ 139/month
($ 60 to $ 297)

31% less than in the United States (USA)United States Average price in the United States (USA): $ 203
Hotel with swimming pool
Hotel with swimming pool
$ 144/month
($ 73 to $ 297)

23% less than in the United States (USA)United States Average price in the United States (USA): $ 187
Cottage or guest house
Cottage or guest house
$ 93/month
($ 60 to $ 165)

58% less than in the United States (USA)United States Average price in the United States (USA): $ 226
Family room
Family room
$ 178/month
($ 83 to $ 395)

6% less than in the United States (USA)United States Average price in the United States (USA): $ 190

Panama: Supermarket food budget

On average, the price of supermarket food in Panama costs 27% less than in the United States (USA).
Milk
Milk
$ 1.7/litre
($ 1.4 to $ 2)

62% more than in the United States (USA)United States Average price in the United States (USA): $ 1.1
Bread
Bread
$ 2.4/500g
($ 1.3 to $ 3)

34% less than in the United States (USA)United States Average price in the United States (USA): $ 3.6
Rice
Rice
$ 2/kg
($ 1 to $ 4)

54% less than in the United States (USA)United States Average price in the United States (USA): $ 4.5
Eggs
Eggs
$ 2.4/12 eggs
($ 1.5 to $ 3)

35% less than in the United States (USA)United States Average price in the United States (USA): $ 3.7
Chicken
Chicken
$ 7/kg
($ 3.6 to $ 12)

42% less than in the United States (USA)United States Average price in the United States (USA): $ 13
Apples
Apples
$ 3.1/kg
($ 1.5 to $ 5.1)

41% less than in the United States (USA)United States Average price in the United States (USA): $ 5.3
Tomatoes
Tomatoes
$ 2.9/kg
($ 1 to $ 4)

40% less than in the United States (USA)United States Average price in the United States (USA): $ 4.9
Potatoes
Potatoes
$ 2/kg
($ 1 to $ 3)

32% less than in the United States (USA)United States Average price in the United States (USA): $ 3
Water bottle
Water bottle
$ 1.5
($ 0.9 to $ 2.5)

31% less than in the United States (USA)United States Average price in the United States (USA): $ 2.2

Panama: Public and private transport budget

On average, the price of transport in Panama costs 9% less than in the United States (USA).
Bus ticket
Bus ticket
$ 0.4/ticket
($ 0.2 to $ 1)

81% less than in the United States (USA)United States Average price in the United States (USA): $ 2.5
Taxi (per km)
Taxi (per km)
$ 1.7/km
($ 1 to $ 3)

2% more than in the United States (USA)United States Average price in the United States (USA): $ 1.7
Petrol
Petrol
$ 1/litre
($ 0.9 to $ 1.3)

3% more than in the United States (USA)United States Average price in the United States (USA): $ 1
Taxi (initial pick-up charge)
Taxi (initial pick-up charge)
$ 2
($ 1.5 to $ 3)

46% less than in the United States (USA)United States Average price in the United States (USA): $ 3.7
Car hire
Car hire
$ 57/24hrs
($ 18 to $ 218)

80% more than in the United States (USA)United States Average price in the United States (USA): $ 32

Panama: Leisure activity budget

On average, budget for leisure activities in Panama costs 9% less than in the United States (USA).
Cinema
Cinema
$ 6.6/ticket
($ 5.1 to $ 11)

53% less than in the United States (USA)United States Average price in the United States (USA): $ 14
Tennis
Tennis
$ 33/hr
($ 16 to $ 51)

34% more than in the United States (USA)United States Average price in the United States (USA): $ 24

Panama: Budget for clothes and price of cigarettes

On average, shopping budget in Panama costs 17% less than in the United States (USA).
Cigarettes
Cigarettes
$ 5.8/pack
($ 5.1 to $ 9)

42% less than in the United States (USA)United States Average price in the United States (USA): $ 10
Levi's jeans
Levi's jeans
$ 52
($ 26 to $ 76)

3% less than in the United States (USA)United States Average price in the United States (USA): $ 53
Summer dress
Summer dress
$ 43
($ 11 to $ 81)

7% less than in the United States (USA)United States Average price in the United States (USA): $ 45

Plane ticket budget

New York City → Panama City
New York City → Panama City
New York City → Panama City
$ 528
(fair price: $ 433)
London → Panama City
London → Panama City
London → Panama City
$ 752
(fair price: $ 654)
Los Angeles → Panama City
Los Angeles  → Panama City
Los Angeles  → Panama City
$ 753
(fair price: $ 530)
Toronto → Panama City
Toronto → Panama City
Toronto → Panama City
$ 678
(fair price: $ 539)
Montreal → Panama City
Montreal → Panama City
Montreal → Panama City
$ 698
(fair price: $ 564)
Atlanta → Panama City
Atlanta → Panama City
Atlanta → Panama City
$ 612
(fair price: $ 456)

Book a flight Flight prices to Panama





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, Skyscanner and Hotels.com.

Information about cost of living in Panama updated on 15-02-2024.

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