Cost of living in Panama compared to Spain
Currency:
| Food | + 13% | |||
|---|---|---|---|---|
| Food in Panama is 13% more expensive than in Spain | ||||
| Panama | Spain | Diff | ||
| Basic lunchtime menu (including a drink) in the business district | 17 B/. (€16) | €17 | - 4% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 8 B/. (€7) | €9 | - 19% | |
| 500 gr (1 lb.) of boneless chicken breast | 4.47 B/. (€4.16) | €3.83 | + 9% | |
| 1 liter (1 qt.) of whole fat milk | 1.69 B/. (€1.57) | €0.99 | + 58% | |
| 12 eggs, large | 2.82 B/. (€2.63) | €2.98 | - 12% | |
| 1 kg (2 lb.) of tomatoes | 2.47 B/. (€2.30) | €2.18 | + 6% | |
| 500 gr (16 oz.) of local cheese | 8 B/. (€7) | €7 | + 11% | |
| 1 kg (2 lb.) of apples | 2.85 B/. (€2.66) | €1.91 | + 39% | |
| 1 kg (2 lb.) of potatoes | 2.19 B/. (€2.04) | €1.21 | + 68% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 1.49 B/. (€1.39) | €1.04 | + 34% | |
| 1 bottle of red table wine, good quality | 18 B/. (€17) | €7 | + 160% | |
| 2 liters of coca-cola | 2.45 B/. (€2.28) | €1.99 | + 15% | |
| Bread for 2 people for 1 day | 1.63 B/. (€1.52) | €0.97 | + 57% | |
| Housing | + 10% | |||
| Housing in Panama is 10% more expensive than in Spain | ||||
| Panama | Spain | Diff | ||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,384 B/. (€1,290) | €1,224 | + 5% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 920 B/. (€857) | €838 | + 2% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 136 B/. (€127) | €127 | - 0% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 995 B/. (€927) | €799 | + 16% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 850 B/. (€792) | €593 | + 33% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 80 B/. (€74) | €86 | - 14% | |
| Internet 8 mbps (1 month) | 45 B/. (€42) | €29 | + 43% | |
| 40” flat screen tv | 332 B/. (€309) | €353 | - 12% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 96 B/. (€90) | €95 | - 6% | |
| Laundry detergent (3 l. ~ 100 oz.) | 7 B/. (€7) | €7 | - 4% | |
| Hourly rate for cleaning help | 5.23 B/. (€4.88) | €11 | - 57% | |
| Clothes | - 14% | |||
| Clothes in Panama is 14% cheaper than in Spain | ||||
| Panama | Spain | Diff | ||
| 1 pair of jeans (levis 501 or similar) | 47 B/. (€44) | €79 | - 44% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 31 B/. (€29) | €29 | + 0% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 91 B/. (€85) | €83 | + 2% | |
| 1 pair of men’s leather business shoes | 93 B/. (€86) | €89 | - 3% | |
| Transportation | - 11% | |||
| Transportation in Panama is 11% cheaper than in Spain | ||||
| Panama | Spain | Diff | ||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 22,199 B/. (€20,688) | €26,162 | - 21% | |
| 1 liter (1/4 gallon) of gas | 1.26 B/. (€1.17) | €1.73 | - 32% | |
| Monthly ticket public transport | 36 B/. (€33) | €32 | + 4% | |
| Personal Care | + 44% | |||
| Personal Care in Panama is 44% more expensive than in Spain | ||||
| Panama | Spain | Diff | ||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 9 B/. (€9) | €8 | + 6% | |
| 1 box of antibiotics (12 doses) | 23 B/. (€22) | €8 | + 174% | |
| Short visit to private doctor (15 minutes) | 47 B/. (€44) | €63 | - 31% | |
| 1 box of 32 tampons (tampax, ob, ...) | 7 B/. (€7) | €3.94 | + 73% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 3.80 B/. (€3.54) | €2.47 | + 43% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 7 B/. (€7) | €2.98 | + 129% | |
| 4 rolls of toilet paper | 3.71 B/. (€3.46) | €1.76 | + 96% | |
| Tube of toothpaste | 3.41 B/. (€3.18) | €1.94 | + 64% | |
| Standard men's haircut in expat area of the city | 16 B/. (€15) | €18 | - 17% | |
| Entertainment | + 21% | |||
| Entertainment in Panama is 21% more expensive than in Spain | ||||
| Panama | Spain | Diff | ||
| Basic dinner out for two in neighborhood pub | 34 B/. (€32) | €32 | - 1% | |
| 2 tickets to the movies | 15 B/. (€14) | €16 | - 11% | |
| 2 tickets to the theater (best available seats) | 33 B/. (€31) | €50 | - 39% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 54 B/. (€50) | €48 | + 6% | |
| 1 cocktail drink in downtown club | 11 B/. (€10) | €9 | + 11% | |
| Cappuccino in expat area of the city | 5.56 B/. (€5.18) | €2.58 | + 101% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 2.67 B/. (€2.49) | €4.31 | - 42% | |
| Ipad wi-fi 128gb | 590 B/. (€550) | €482 | + 14% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.39 B/. (€0.37) | €0.17 | + 116% | |
| 1 month of gym membership in business district | 51 B/. (€48) | €49 | - 2% | |
| 1 package of marlboro cigarettes | 5.73 B/. (€5.34) | €5.14 | + 4% | |
| TOTAL | + 7% | |||
These prices were last updated on May 28, 2023.
Exchange rate:
0.932
EUR
/
PAB
This comparison is based on abundant and consistent data. It is based on 9,335 prices entered by 1,129 different people.
Cost of living in Panama is 7% more expensive than in Spain
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