Cost of living in Panama City, Panama vs Wels, Austria
Currency:
| Food | + 5% | |||
|---|---|---|---|---|
| Food in Panama City (Panama) is 5% more expensive than in Wels (Austria) | ||||
| Basic lunchtime menu (including a drink) in the business district | 15 B/. (€12) | €9 | + 30% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 7 B/. (€5.79) | €7 | - 13% | |
| 500 gr (1 lb.) of boneless chicken breast | 3.62 B/. (€3.00) | €6.00 | - 50% | |
| 1 liter (1 qt.) of whole fat milk | 1.44 B/. (€1.20) | €1.08 | + 10% | |
| 12 eggs, large | 2.75 B/. (€2.28) | €2.50 | - 9% | |
| 1 kg (2 lb.) of tomatoes | 2.39 B/. (€1.98) | €1.50 | + 32% | |
| 500 gr (16 oz.) of local cheese | 6 B/. (€5.13) | €3.00 | + 71% | |
| 1 kg (2 lb.) of apples | 2.63 B/. (€2.19) | €2.00 | + 9% | |
| 1 kg (2 lb.) of potatoes | 2.05 B/. (€1.70) | €1.00 | + 70% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 1.04 B/. (€0.86) | €1.00 | - 14% | |
| 1 bottle of red table wine, good quality | 10 B/. (€9) | €5.50 | + 56% | |
| 2 liters of coca-cola | 2.22 B/. (€1.84) | €1.33 | + 39% | |
| Bread for 2 people for 1 day | 1.63 B/. (€1.35) | €1.25 | + 8% | |
| Housing | - 11% | |||
| Housing in Panama City (Panama) is 11% cheaper than in Wels (Austria) | ||||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,458 B/. (€1,211) | €867 | + 40% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 893 B/. (€741) | €750 | - 1% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 108 B/. (€90) | €517 | - 83% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 952 B/. (€791) | - | - | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 647 B/. (€537) | - | - | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 81 B/. (€67) | - | - | |
| Internet 8 mbps (1 month) | 43 B/. (€36) | €20 | + 79% | |
| 40” flat screen tv | 350 B/. (€290) | €399 | - 27% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 112 B/. (€93) | €200 | - 54% | |
| Laundry detergent (3 l. ~ 100 oz.) | 8 B/. (€7) | - | - | |
| Hourly rate for cleaning help | 8 B/. (€7) | €13 | - 50% | |
| Clothes | + 100% | |||
| Clothes in Panama City (Panama) is 100% more expensive than in Wels (Austria) | ||||
| 1 pair of jeans (levis 501 or similar) | 47 B/. (€39) | €19 | + 105% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 37 B/. (€31) | €10 | + 209% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 78 B/. (€65) | €50 | + 30% | |
| 1 pair of men’s leather business shoes | 87 B/. (€72) | - | - | |
| Transportation | + 27% | |||
| Transportation in Panama City (Panama) is 27% more expensive than in Wels (Austria) | ||||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 19,294 B/. (€16,019) | - | - | |
| 1 liter (1/4 gallon) of gas | 0.67 B/. (€0.56) | €1.09 | - 49% | |
| Monthly ticket public transport | 37 B/. (€30) | €10 | + 203% | |
| Taxi trip on a business day, basic tariff, 8 km. (5 miles) | 12 B/. (€10) | - | - | |
| Personal Care | - 12% | |||
| Personal Care in Panama City (Panama) is 12% cheaper than in Wels (Austria) | ||||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 9 B/. (€7) | €15 | - 51% | |
| 1 box of antibiotics (12 doses) | 22 B/. (€18) | - | - | |
| Short visit to private doctor (15 minutes) | 49 B/. (€41) | - | - | |
| 1 box of 32 tampons (tampax, ob, ...) | 4.25 B/. (€3.53) | - | - | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 3.65 B/. (€3.03) | - | - | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 6 B/. (€4.99) | - | - | |
| 4 rolls of toilet paper | 2.51 B/. (€2.09) | - | - | |
| Tube of toothpaste | 2.50 B/. (€2.07) | - | - | |
| Standard men's haircut in expat area of the city | 16 B/. (€13) | - | - | |
| Entertainment | - 1% | |||
| Entertainment in Panama City (Panama) is about the same as in Wels (Austria) | ||||
| Basic dinner out for two in neighborhood pub | 32 B/. (€27) | - | - | |
| 2 tickets to the movies | 12 B/. (€10) | - | - | |
| 2 tickets to the theater (best available seats) | 39 B/. (€33) | - | - | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 52 B/. (€43) | - | - | |
| 1 cocktail drink in downtown club | 10 B/. (€8) | - | - | |
| Cappuccino in expat area of the city | 4.98 B/. (€4.14) | - | - | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 3.79 B/. (€3.15) | €3.50 | - 10% | |
| Ipad wi-fi 128gb | 543 B/. (€451) | - | - | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.24 B/. (€0.20) | - | - | |
| 1 month of gym membership in business district | 46 B/. (€38) | - | - | |
| 1 package of marlboro cigarettes | 5.77 B/. (€4.79) | - | - | |
| TOTAL | + 3% | |||
WARNING! This comparison is based on only a few data points. At this point it is only a guess. It is based on 675 prices entered by 65 different people.
These prices were last updated on April 23, 2021.
Exchange rate:
0.830
EUR
/
PAB
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Cost of living in Panama City (Panama) is about the same as in Wels (Austria)
For example, you would need at least €2,672 (3,218 B/.) in Panama City to maintain the same standard of living that you can have with €2,600 in Wels.
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