Cost of Living in Panama

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Living cost in Panama City is no longer cheap as before, living standard went up so true to cost of commodities and accommodations. Living in a culturally diverse city is much better compared to other cities in the world. Food is a little bit cheaper in Panama City.  I would rather say that cost of living in other areas in Panama is much cheaper.  Here is just an estimate of expenses:

  • Rent: B/1098.48
  • Electricity: B/174.76
  • Cable/Internet:            B/90
  • Transportation: B/300
  • Groceries:  B/500       
  • Dining Out/Entertainment: B/350     
  • Cell Phone Plans: B/65          
  • Health Insurance: B/25          
  • Additional Expenses /50        

Spending more than B/2650 is minimal compared to living in a U.S. City, it’s like saving 50%. Obviously there is still room for improvement of your monthly expense because there are still cheap in the city. Food for instance is cheaper, it is recommended to rather cook your food instead of dining out all the time.

Travel Price Approximate cost
Budget hotel (Room/Night) 120 USD (~120 PAB)
Mid-Range Hotel (Room/Night) 164 USD (~164 PAB)
Fuel (Per Litre) 1.11 USD (~1.11 PAB)
Taxi (Initial Fare) 1.14 USD (~1.14 PAB)
Foods Approximate cost
Typical Meal (Per Person) 4.44 USD (~4.44 PAB)
Fast Food (McDonalds/KFC) (Per Person) 3.5 USD (~3.5 PAB)
Egg (12 Eggs) 1.72 USD (~1.72 PAB)
Rice (01 Kg) 2.51 USD (~2.51 PAB)
Potato (01 Kg) 3.03 USD (~3.03 PAB)
Tomato (01 Kg) 2.6 USD (~2.6 PAB)
Flour (01 Kg) 3.11 USD (~3.11 PAB)
Banana (01 Kg) 0.71 USD (~0.71 PAB)
Sugar (01 Kg) 1.45 USD (~1.45 PAB)
Apple (01 Kg) 2.55 USD (~2.55 PAB)
Orange (01 Kg) 1.22 USD (~1.22 PAB)
Drinks Approximate cost
Milk (Per Litre) 0.91 USD (~0.91 PAB)
Coca/Pepsi (0.33 Litre Bottle) 1.35 USD (~1.35 PAB)
Beer (0.33 Litre Bottle) 3.45 USD (~3.45 PAB)
Bottle of Water (0.5 Litre) 1.2 USD (~1.2 PAB)
A Cup of Coffee (Regular) (Regular/Cup) 1.75 USD (~1.75 PAB)
Others Approximate cost
Cigarette (Per Pack) 4.1 USD (~4.1 PAB)
Electricity (per 1 kWh) 0.17 USD (~0.17 PAB)
Car (Toyota/Honda Sedan) (Per Car) 17800 USD (~17,800 PAB)
Movie Ticket (ticket) 7 USD (~7 PAB)