Popular cities
Panama City Prices & Cost of Living 2026
Panama ยท Big city โ Panama City is about 66% cheaper than New York. Not just exchange rates: what a fair price is, where it turns into a rip-off, and what that means in your money.
Panama City prices at a glance
Just got quoted a price? Check it
Pick the item and type the price you were quoted or paid โ instant verdict. If you actually paid it, you can share it right here.
Open in the app: see it in your money & log it โบFree ยท no sign-up ยท Rip-off guide
Panama City travel difficulty
Unmetered zone taxis overcharge foreigners; use apps
English in hotels and banks; daily life in Spanish
Metro Line 2 branch reaches Tocumen airport; Uber is easy
US dollars; cards common, but $50/$100 bills often refused
Avoid El Chorrillo and Curundรบ next to Casco Viejo
Good to knowIf you take a yellow taxi, agree the fare first and refuse shared rides
Handy apps: Uber
Visas depend on your passport, so they are not scored. Felt different on the ground? Tell other travelers below. Travel difficulty in the Americas โบ Difficulty ranking for 502 cities โบ
In your money
Panama City is about 66% cheaper than New York
Based on 8 things travelers buy most, compared with New York. Each pair of bars is the same purchase in both cities, converted to your currency. Set your own city and currency in โMy basisโ above.
Panama City in numbers
- ๐11 local meals
- โ23 coffees
- ๐บ30 beers
- ๐20 5-km taxi rides
- ๐2.2 h of massage
- ๐จ1.2 hotel nights
- Local meal2 h 5 min ยท New York 52 min
- Coffee1 h ยท New York 15 min
- Beer46 min ยท New York 23 min
- Taxi1 h 9 min ยท New York 59 min
- SIM card#76 cheapest
- Transit#100 cheapest
- Beer#193 cheapest
- Half-day tour#98 priciest
- Coffee#120 priciest
Panama City price guide & rip-off thresholds
Panama City travel budget
Per person per day, estimated. Flights and shopping not included.
See 4-day, 1-week and 1-month budget tables โบ ยท Plan a multi-city trip budget โบ
How to spend money in Panama City
Live prices reported in Panama City
Loadingโฆ
FAQ
Is Panama City cheaper than New York?
Across 8 things travelers buy most (meals, coffee, beer, taxis, hotelsโฆ), Panama City is about 66% cheaper than New York. A local meal is about $9 and a coffee about $4.3.
How hard is Panama City to travel?
Averaging rip-offs, language, getting around, payments and safety, Panama City scores 2.6/5 โ 'moderate'. The main thing to watch is rip-offs & haggling (3/5): Unmetered zone taxis overcharge foreigners; use apps. Tip: If you take a yellow taxi, agree the fare first and refuse shared rides
Is Panama City good for first-time travelers?
With a little preparation, yes (2.6/5). Rip-offs & haggling: Unmetered zone taxis overcharge foreigners; use apps. Tip: If you take a yellow taxi, agree the fare first and refuse shared rides
What is a realistic daily budget for Panama City?
Mid-range (3-star hotel, local meals plus a dinner out, two taxi rides) is about $156 a day. Guesthouses and street food bring it to about $57; 4-star and restaurants push it to about $333.
How much does it cost to live in Panama City for a month?
A short-term studio (about $2,493) plus food, transport and a SIM (about $1,147) comes to roughly $3,640 a month. A local long-term lease (studio about $1,100) brings it down a lot.
How much should a taxi cost in Panama City?
For 5 km in town, expect $4 โ $8; anything above $9.6 is suspicious.
Where do these numbers come from?
Base prices start from public cost-of-living data; once 3+ traveler reports come in, the app blends in the median of what people actually paid.
Fair range & rip-off line โ each item gets its own spread (tight for transit, wide for street food). Above 1.2ร the top of the fair range is flagged as a likely rip-off.
Budgets add up item prices for the lifestyle described above. Peak season and prime tourist spots run higher.
Exchange rate as of October 2026: 1 USD = $1. Last updated 2026-10-05.