Cost of living in Panama compared to Spain
Currency:
| Food | - 8% | |||
|---|---|---|---|---|
| Food in Panama is 8% cheaper than in Spain | ||||
| Basic lunchtime menu (including a drink) in the business district | 12 B/. (€10) | €14 | - 33% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 6 B/. (€5.35) | €8 | - 31% | |
| 500 gr (1 lb.) of boneless chicken breast | 3.09 B/. (€2.54) | €3.29 | - 23% | |
| 1 liter (1 qt.) of whole fat milk | 1.45 B/. (€1.20) | €0.79 | + 51% | |
| 12 eggs, large | 2.78 B/. (€2.29) | €2.28 | + 1% | |
| 1 kg (2 lb.) of tomatoes | 2.48 B/. (€2.04) | €1.56 | + 31% | |
| 500 gr (16 oz.) of local cheese | 5.77 B/. (€4.75) | €6 | - 21% | |
| 1 kg (2 lb.) of apples | 2.23 B/. (€1.84) | €1.66 | + 10% | |
| 1 kg (2 lb.) of potatoes | 2.05 B/. (€1.69) | €1.10 | + 54% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 1.02 B/. (€0.84) | €0.86 | - 2% | |
| 1 bottle of red table wine, good quality | 10 B/. (€8) | €7 | + 27% | |
| 2 liters of coca-cola | 2.18 B/. (€1.79) | €1.62 | + 11% | |
| Bread for 2 people for 1 day | 1.50 B/. (€1.24) | €0.85 | + 46% | |
| Housing | - 2% | |||
| Housing in Panama is about the same as in Spain | ||||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,360 B/. (€1,120) | €1,186 | - 6% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 872 B/. (€718) | €739 | - 3% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 107 B/. (€88) | €106 | - 17% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 899 B/. (€740) | €710 | + 4% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 598 B/. (€492) | €512 | - 4% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 81 B/. (€66) | €74 | - 11% | |
| Internet 8 mbps (1 month) | 44 B/. (€36) | €29 | + 26% | |
| 40” flat screen tv | 345 B/. (€284) | €344 | - 17% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 110 B/. (€91) | €92 | - 2% | |
| Laundry detergent (3 l. ~ 100 oz.) | 7 B/. (€5.70) | €7 | - 18% | |
| Hourly rate for cleaning help | 6 B/. (€5.33) | €10 | - 48% | |
| Clothes | - 17% | |||
| Clothes in Panama is 17% cheaper than in Spain | ||||
| 1 pair of jeans (levis 501 or similar) | 48 B/. (€40) | €76 | - 48% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 38 B/. (€31) | €30 | + 3% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 77 B/. (€63) | €77 | - 17% | |
| 1 pair of men’s leather business shoes | 93 B/. (€77) | €86 | - 11% | |
| Transportation | - 20% | |||
| Transportation in Panama is 20% cheaper than in Spain | ||||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 20,263 B/. (€16,684) | €22,979 | - 27% | |
| 1 liter (1/4 gallon) of gas | 0.66 B/. (€0.54) | €1.22 | - 55% | |
| Monthly ticket public transport | 49 B/. (€40) | €42 | - 6% | |
| Personal Care | + 29% | |||
| Personal Care in Panama is 29% more expensive than in Spain | ||||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 8 B/. (€6) | €5.49 | + 13% | |
| 1 box of antibiotics (12 doses) | 20 B/. (€16) | €6 | + 159% | |
| Short visit to private doctor (15 minutes) | 43 B/. (€36) | €57 | - 37% | |
| 1 box of 32 tampons (tampax, ob, ...) | 5.79 B/. (€4.76) | €4.20 | + 13% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 3.91 B/. (€3.22) | €2.34 | + 38% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 7 B/. (€5.85) | €2.74 | + 113% | |
| 4 rolls of toilet paper | 3.05 B/. (€2.51) | €1.40 | + 80% | |
| Tube of toothpaste | 2.58 B/. (€2.13) | €1.92 | + 11% | |
| Standard men's haircut in expat area of the city | 16 B/. (€13) | €15 | - 9% | |
| Entertainment | - 2% | |||
| Entertainment in Panama is about the same as in Spain | ||||
| Basic dinner out for two in neighborhood pub | 31 B/. (€26) | €28 | - 10% | |
| 2 tickets to the movies | 12 B/. (€10) | €16 | - 36% | |
| 2 tickets to the theater (best available seats) | 39 B/. (€32) | €43 | - 24% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 52 B/. (€43) | €39 | + 10% | |
| 1 cocktail drink in downtown club | 9 B/. (€8) | €9 | - 15% | |
| Cappuccino in expat area of the city | 4.88 B/. (€4.02) | €2.60 | + 55% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 3.49 B/. (€2.87) | €3.82 | - 25% | |
| Ipad wi-fi 128gb | 525 B/. (€433) | €470 | - 8% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.40 B/. (€0.33) | €0.23 | + 44% | |
| 1 month of gym membership in business district | 46 B/. (€38) | €48 | - 21% | |
| 1 package of marlboro cigarettes | 5.14 B/. (€4.23) | €4.93 | - 14% | |
| TOTAL | - 7% | |||
These prices were last updated on May 16, 2021.
Exchange rate:
0.823
EUR
/
PAB
This comparison is based on abundant and consistent data. It is based on 11,354 prices entered by 1,404 different people.
Cost of living in Panama is 7% cheaper than in Spain
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