Cost of living in Panama compared to South Korea
Currency:
| Food | - 29% | |||
|---|---|---|---|---|
| Food in Panama is 29% cheaper than in South Korea | ||||
| Basic lunchtime menu (including a drink) in the business district | 12 B/. (₩13,029) | ₩9,411 | + 38% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 6 B/. (₩7,282) | ₩6,661 | + 9% | |
| 500 gr (1 lb.) of boneless chicken breast | 3.09 B/. (₩3,459) | ₩5,558 | - 38% | |
| 1 liter (1 qt.) of whole fat milk | 1.45 B/. (₩1,629) | ₩2,243 | - 27% | |
| 12 eggs, large | 2.78 B/. (₩3,115) | ₩4,906 | - 37% | |
| 1 kg (2 lb.) of tomatoes | 2.48 B/. (₩2,782) | ₩6,379 | - 56% | |
| 500 gr (16 oz.) of local cheese | 5.77 B/. (₩6,470) | ₩13,015 | - 50% | |
| 1 kg (2 lb.) of apples | 2.23 B/. (₩2,500) | ₩5,944 | - 58% | |
| 1 kg (2 lb.) of potatoes | 2.05 B/. (₩2,298) | ₩3,678 | - 38% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 1.02 B/. (₩1,142) | ₩2,166 | - 47% | |
| 1 bottle of red table wine, good quality | 10 B/. (₩11,382) | ₩22,522 | - 49% | |
| 2 liters of coca-cola | 2.18 B/. (₩2,440) | ₩2,694 | - 9% | |
| Bread for 2 people for 1 day | 1.50 B/. (₩1,686) | ₩2,980 | - 43% | |
| Housing | - 11% | |||
| Housing in Panama is 11% cheaper than in South Korea | ||||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,360 B/. (₩1,523,785) | ₩1,532,360 | - 1% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 872 B/. (₩977,555) | ₩1,131,400 | - 14% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 107 B/. (₩120,121) | ₩309,182 | - 61% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 899 B/. (₩1,006,786) | ₩1,200,300 | - 16% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 598 B/. (₩669,893) | ₩587,302 | + 14% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 81 B/. (₩90,389) | ₩81,680 | + 11% | |
| Internet 8 mbps (1 month) | 44 B/. (₩49,033) | ₩41,339 | + 19% | |
| 40” flat screen tv | 345 B/. (₩386,060) | ₩352,573 | + 9% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 110 B/. (₩123,630) | ₩113,587 | + 9% | |
| Laundry detergent (3 l. ~ 100 oz.) | 7 B/. (₩7,757) | ₩13,071 | - 41% | |
| Hourly rate for cleaning help | 6 B/. (₩7,257) | ₩13,039 | - 44% | |
| Clothes | - 15% | |||
| Clothes in Panama is 15% cheaper than in South Korea | ||||
| 1 pair of jeans (levis 501 or similar) | 48 B/. (₩53,915) | ₩41,844 | + 29% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 38 B/. (₩42,218) | ₩52,250 | - 19% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 77 B/. (₩86,191) | ₩99,885 | - 14% | |
| 1 pair of men’s leather business shoes | 93 B/. (₩104,318) | ₩173,054 | - 40% | |
| Transportation | - 34% | |||
| Transportation in Panama is 34% cheaper than in South Korea | ||||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 21,700 B/. (₩24,313,470) | ₩29,087,500 | - 16% | |
| 1 liter (1/4 gallon) of gas | 0.66 B/. (₩739) | ₩1,439 | - 49% | |
| Monthly ticket public transport | 49 B/. (₩54,432) | ₩91,087 | - 40% | |
| Personal Care | - 11% | |||
| Personal Care in Panama is 11% cheaper than in South Korea | ||||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 8 B/. (₩8,480) | ₩6,377 | + 33% | |
| 1 box of antibiotics (12 doses) | 20 B/. (₩22,309) | ₩7,390 | + 202% | |
| Short visit to private doctor (15 minutes) | 40 B/. (₩44,853) | ₩82,440 | - 46% | |
| 1 box of 32 tampons (tampax, ob, ...) | 4.21 B/. (₩4,715) | ₩21,662 | - 78% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 3.91 B/. (₩4,376) | ₩8,130 | - 46% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 7 B/. (₩7,476) | ₩8,324 | - 10% | |
| 4 rolls of toilet paper | 3.05 B/. (₩3,422) | ₩1,815 | + 89% | |
| Tube of toothpaste | 2.58 B/. (₩2,892) | ₩2,204 | + 31% | |
| Standard men's haircut in expat area of the city | 16 B/. (₩18,052) | ₩17,384 | + 4% | |
| Entertainment | - 42% | |||
| Entertainment in Panama is 42% cheaper than in South Korea | ||||
| Basic dinner out for two in neighborhood pub | 31 B/. (₩34,868) | ₩33,460 | + 4% | |
| 2 tickets to the movies | 12 B/. (₩13,528) | ₩20,876 | - 35% | |
| 2 tickets to the theater (best available seats) | 39 B/. (₩43,874) | ₩165,595 | - 74% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 52 B/. (₩58,606) | ₩67,775 | - 14% | |
| 1 cocktail drink in downtown club | 9 B/. (₩10,590) | ₩10,109 | + 5% | |
| Cappuccino in expat area of the city | 4.88 B/. (₩5,473) | ₩5,000 | + 9% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 3.49 B/. (₩3,910) | ₩5,279 | - 26% | |
| Ipad wi-fi 128gb | 525 B/. (₩588,794) | ₩669,053 | - 12% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.40 B/. (₩450) | ₩1,500 | - 70% | |
| 1 month of gym membership in business district | 46 B/. (₩51,934) | ₩61,508 | - 16% | |
| 1 package of marlboro cigarettes | 5.14 B/. (₩5,756) | ₩4,554 | + 26% | |
| TOTAL | - 26% | |||
These prices were last updated on May 06, 2021.
Exchange rate:
1120.447
KRW
/
PAB
This comparison is based on abundant and consistent data. It is based on 1,070 prices entered by 158 different people.
Cost of living in Panama is 26% cheaper than in South Korea
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