Cost of living in Panama

Living in Panama comes with several advantages. Firstly, the country offers a tropical climate, allowing residents and visitors to enjoy warm weather throughout the year. Whether it’s relaxing on beautiful white sandy beaches or exploring lush rainforests, Panama provides a stunning natural landscape that is perfect for outdoor activities and those seeking a laid-back lifestyle.

In addition to its natural beauty, Panama boasts a stable and growing economy. Its strategic location, with the Panama Canal connecting the Pacific and Atlantic Oceans, has made it a hub for international trade. As a result, there are ample job opportunities and a favorable business environment, attracting individuals from all over the world.

The cost of living in Panama is relatively lower compared to many other countries. Housing, transportation, and dining out are generally more affordable, allowing residents to have a comfortable lifestyle without breaking the bank. This affordability factor, combined with the country’s modern infrastructure, quality healthcare system, and reliable public services, makes Panama an attractive destination for retirees and expatriates alike.

Moreover, Panama is known for its high level of safety and political stability. The government has placed a strong emphasis on security, resulting in a low crime rate compared to neighboring countries. This sense of safety allows people to feel secure in their everyday lives and enjoy the country’s numerous recreational activities, such as fishing, snorkeling, hiking, and exploring historical sites.

Lastly, Panama City, the capital of Panama, offers a vibrant urban lifestyle. The city is home to a diverse population and a wide range of cultural activities, including music festivals, art exhibitions, and international culinary events. With a thriving nightlife, countless shopping options, and a mix of modern skyscrapers and historical buildings, Panama City provides a perfect blend of old-world charm and contemporary living.

To sum up, Panama offers a combination of natural beauty, a strong economy, affordable living costs, safety, and a vibrant city life. These factors make it an appealing destination for individuals seeking a high quality of life in a tropical paradise.

Average salaries in Panama

Here are some examples of average monthly earnings for popular positions in Panama:

1. Teacher: The average monthly salary for a teacher in Panama is around 1,000-1,500 USD (850-1,275 EUR).

2. Salesperson: The average monthly salary for a salesperson in Panama is around 800-1,200 USD (680-1,020 EUR).

3. Driver: The average monthly salary for a driver in Panama is around 700-1,000 USD (595-850 EUR).

Please note that these figures are approximate and can vary depending on factors such as experience, qualifications, and location within Panama. It’s also important to consider that the cost of living in Panama may be lower compared to some other countries, which can affect the purchasing power of these salaries.

In recent years, Panama has experienced steady economic growth, which has led to an increase in job opportunities and wages. However, it’s important to research and consider the specific industry and region when evaluating potential earnings in Panama.

Overall, while these figures provide a general idea of average monthly earnings in Panama, it’s always recommended to conduct further research and consult with local sources for the most accurate and up-to-date information.

Food prices in Panama

Meals in restaurants

Here are some examples of meal prices in restaurants in Panama:

1. Breakfast:

– Traditional Panamanian breakfast: $5-7 (€4-6, $5-7)

– Continental breakfast: $3-5 (€2-4, $3-5)

– American-style breakfast: $6-8 (€5-7, $6-8)

2. Lunch:

– Set menu (soup, main course, dessert): $8-12 (€7-10, $8-12)

– Sandwich or burger with fries: $6-9 (€5-8, $6-9)

– Salad or bowl: $7-10 (€6-9, $7-10)

3. Dinner:

– Seafood dish: $12-20 (€10-17, $12-20)

– Steak or grilled meat: $15-25 (€13-21, $15-25)

– Pasta or pizza: $10-15 (€9-13, $10-15)

4. Drinks:

– Local beer: $2-4 (€2-3, $2-4)

– Soft drink: $1-2 (€1-2, $1-2)

– Fresh fruit juice: $2-4 (€2-3, $2-4)

Please note that these prices are approximate and can vary depending on the location, type of restaurant, and specific dish or drink ordered. It’s always a good idea to check the menu or ask the staff for prices before ordering.

Grocery shopping

Here is a list of basic food products and their prices in Panama:

1. Rice (1 kg) – $1.50 (€1.30)

2. Bread (loaf) – $1.00 (€0.87)

3. Eggs (12) – $2.50 (€2.17)

4. Milk (1 liter) – $1.50 (€1.30)

5. Chicken (1 kg) – $3.50 (€3.04)

6. Beef (1 kg) – $5.00 (€4.34)

7. Potatoes (1 kg) – $1.50 (€1.30)

8. Tomatoes (1 kg) – $2.00 (€1.74)

9. Onions (1 kg) – $1.50 (€1.30)

10. Apples (1 kg) – $2.50 (€2.17)

11. Bananas (1 kg) – $1.00 (€0.87)

12. Oranges (1 kg) – $1.50 (€1.30)

13. Carrots (1 kg) – $1.00 (€0.87)

14. Lettuce (1 head) – $1.00 (€0.87)

15. Sugar (1 kg) – $1.00 (€0.87)

Please note that these prices are approximate and may vary depending on the location and specific store. It’s always a good idea to check the current prices at the local supermarkets or markets in Panama.

In general, the cost of basic food products in Panama is relatively affordable compared to European countries or the United States. However, prices may vary depending on the brand, quality, and seasonality of the products. It’s also worth noting that imported or specialty items may be more expensive.

Overall, Panama offers a range of affordable options for basic food products, making it relatively easy to maintain a balanced and budget-friendly diet.

Cafes and bars

Here is a list of average prices for beverages served in bars and cafes in Panama:

1. Coffee (regular): $1.50 (€1.30 / $1.50)

2. Coffee (specialty): $3.50 (€3.00 / $3.50)

3. Soft drinks: $1.50 (€1.30 / $1.50)

4. Bottled water: $1.00 (€0.85 / $1.00)

5. Fresh fruit juice: $2.50 (€2.15 / $2.50)

6. Local beer: $2.00 (€1.70 / $2.00)

7. Imported beer: $3.50 (€3.00 / $3.50)

8. Wine (glass): $5.00 (€4.30 / $5.00)

9. Cocktails: $6.00 (€5.15 / $6.00)

10. Spirits (shot): $4.00 (€3.45 / $4.00)

Please note that these prices are approximate and may vary depending on the location and establishment. It’s always a good idea to check the menu or ask the staff for the current prices.

In Panama, the local currency is the Panamanian Balboa (PAB), which is pegged to the US dollar at a 1:1 exchange rate. Therefore, the prices mentioned above are in Panamanian Balboas, but the approximate values in euros and US dollars are provided for reference.

Accomodation

Flat rental in Panama

The approximate costs of renting apartments in Panama City, Panama are as follows:

1. Studio apartment in the city center: $600-$800 per month (€500-€670, $560-$750)

2. One-bedroom apartment in the city center: $800-$1,200 per month (€670-€1,000, $750-$1,120)

3. Two-bedroom apartment in the city center: $1,200-$1,800 per month (€1,000-€1,500, $1,120-$1,680)

4. Studio apartment outside the city center: $400-$600 per month (€335-€500, $375-$560)

5. One-bedroom apartment outside the city center: $600-$1,000 per month (€500-€840, $560-$940)

6. Two-bedroom apartment outside the city center: $800-$1,500 per month (€670-€1,260, $750-$1,410)

Please note that these prices are approximate and can vary depending on the location, size, and condition of the apartment. Additionally, rental prices may be higher in popular neighborhoods or areas with amenities such as gyms, swimming pools, or security.

It’s important to consider additional costs such as utilities (water, electricity, internet), which can range from $50-$150 per month (€40-€125, $45-$140) depending on usage and the size of the apartment.

Overall, renting an apartment in Panama can be relatively affordable compared to other major cities in the region. It’s recommended to research and compare prices in different neighborhoods to find the best option that suits your budget and preferences.

Buy a house or apartament in Panama

– Średnia cena zakupu domu w Panamie wynosi około 200 000 USD (170 000 EUR).

– Mieszkania w Panamie są dostępne w różnych przedziałach cenowych, zaczynając od około 100 000 USD (85 000 EUR) za niewielkie mieszkanie w mniejszym mieście, do nawet 500 000 USD (425 000 EUR) za luksusowe mieszkanie w centrum miasta.

– Warto zauważyć, że ceny nieruchomości w stolicy, Panama City, są zazwyczaj wyższe niż w innych częściach kraju.

– Dodatkowe koszty, takie jak podatki od nieruchomości, opłaty za utrzymanie budynku i ubezpieczenie, mogą również wpływać na całkowity koszt posiadania nieruchomości.

– W przypadku zakupu nieruchomości w Panamie, warto również wziąć pod uwagę koszty związane z prawnym procesem zakupu, takie jak opłaty notarialne i koszty rejestracji.

– Warto również zauważyć, że w niektórych regionach Panamy istnieje możliwość zakupu ziemi i budowy własnego domu, co może być bardziej kosztowne, ale daje większą swobodę w projektowaniu i dostosowywaniu nieruchomości do własnych potrzeb.

– W zależności od lokalizacji, wielkości i stanu nieruchomości, ceny mogą się różnić, dlatego zawsze warto skonsultować się z lokalnymi agentami nieruchomości, aby uzyskać dokładne informacje na temat kosztów zakupu domów i mieszkań w Panamie.

Transport in Panama

Public transport

Here is a list of different forms of public transportation in Panama, along with their approximate prices in Panamanian Balboa (PAB), Euros (EUR), and US Dollars (USD):

1. Metro: The metro system in Panama City has a flat fare of 0.35 PAB (0.32 EUR, 0.38 USD) per ride.

2. Metro Bus: The Metro Bus is a popular mode of transportation in Panama City and other major cities. The fare for a single ride is around 0.25 PAB (0.23 EUR, 0.28 USD).

3. Diablos Rojos: These are privately-owned, colorful buses that operate in Panama City and other urban areas. The fare for a ride on a Diablo Rojo is approximately 0.25 PAB (0.23 EUR, 0.28 USD).

4. Taxis: Taxis are widely available in Panama, and their fares are metered. The starting fare is usually around 1.25 PAB (1.14 EUR, 1.37 USD), with an additional charge per kilometer.

5. Uber: Uber is also available in Panama, and the fares are similar to taxis. The starting fare is around 1.25 PAB (1.14 EUR, 1.37 USD), with additional charges per kilometer.

6. Colectivos: Colectivos are shared vans that operate on fixed routes in Panama City and other cities. The fare for a ride on a colectivo is typically around 0.50 PAB (0.46 EUR, 0.55 USD).

7. Ferries: Ferries are used for transportation between islands in Panama, such as the Pearl Islands. The prices vary depending on the destination, but a one-way ticket can range from 10 PAB (9.12 EUR, 10.96 USD) to 30 PAB (27.36 EUR, 32.88 USD).

Please note that these prices are approximate and may vary slightly depending on the specific location and time of travel. It’s always a good idea to check for any updates or changes in fares before using public transportation in Panama.

Fuel prices

Here are some examples of fuel prices in Panama:

– Regular gasoline: $0.85 per liter (€0.72, $0.90 per gallon)

– Diesel: $0.70 per liter (€0.59, $0.74 per gallon)

– Premium gasoline: $0.95 per liter (€0.80, $1.00 per gallon)

Please note that these prices are approximate and may vary depending on the location and current market conditions. It’s always a good idea to check the latest prices before refueling.

Vehicles rental

Here are some examples of rental prices for vehicles in Panama:

1. Car rental:

– Economy car: $30-40 per day ($28-37 EUR, $33-44 USD)

– Midsize car: $40-60 per day ($37-56 EUR, $44-66 USD)

– SUV: $60-80 per day ($56-74 EUR, $66-88 USD)

2. Scooter rental:

– 50cc scooter: $20-30 per day ($19-28 EUR, $22-33 USD)

– 125cc scooter: $30-40 per day ($28-37 EUR, $33-44 USD)

Please note that these prices are approximate and may vary depending on the rental company, location, and duration of the rental. It’s always recommended to compare prices from different rental companies and book in advance to get the best deal.

In Panama, the local currency is the Panamanian Balboa (PAB), which is pegged to the US dollar at a 1:1 exchange rate. Therefore, prices in Panama are often quoted in both Balboas and US dollars. The Euro (EUR) exchange rate may fluctuate, so it’s advisable to check the current rates before making any conversions.

Overall, renting a vehicle in Panama can be a convenient and affordable way to explore the country’s diverse landscapes and attractions. Just make sure to have a valid driver’s license and familiarize yourself with the local traffic rules and regulations.

Entertainment prices in Panama

Here is a list of different forms of entertainment in Panama along with their approximate prices in Panamanian Balboa (PAB), Euros (EUR), and US Dollars (USD):

1. Movie ticket: 10 PAB (4.80 EUR, 5.70 USD)

2. Concert ticket: 30-100 PAB (14.40-48 EUR, 17-57 USD)

3. Museum admission: 5-15 PAB (2.40-7.20 EUR, 2.85-8.55 USD)

4. Theme park admission: 20-50 PAB (9.60-24 EUR, 11.40-28.50 USD)

5. Nightclub cover charge: 10-30 PAB (4.80-14.40 EUR, 5.70-17 USD)

6. Live theater ticket: 20-50 PAB (9.60-24 EUR, 11.40-28.50 USD)

7. Sports event ticket: 10-50 PAB (4.80-24 EUR, 5.70-28.50 USD)

8. Escape room experience: 20-40 PAB (9.60-19.20 EUR, 11.40-22.80 USD)

9. Bowling game: 5-10 PAB per game (2.40-4.80 EUR, 2.85-5.70 USD)

10. Karaoke session: 5-15 PAB per hour (2.40-7.20 EUR, 2.85-8.55 USD)

Please note that these prices are approximate and may vary depending on the specific venue, location, and time of the year. It’s always a good idea to check the current prices before planning your entertainment activities in Panama.

Basic services in Panama

Here is a list of basic services and their approximate prices in Panama:

1. Cinema ticket: $5-10 (€4-8)

2. Haircut: $10-20 (€8-16)

3. Manicure/pedicure: $10-20 (€8-16)

4. Massage (1 hour): $30-50 (€24-40)

5. Car mechanic (hourly rate): $20-40 (€16-32)

Please note that these prices are approximate and can vary depending on the location, quality of service, and specific requirements. It is always recommended to check with individual service providers for the most accurate and up-to-date prices.

Panama uses the Panamanian balboa (PAB) as its official currency, which is pegged to the US dollar at a 1:1 exchange rate. Therefore, the prices mentioned above are in Panamanian balboas, but the approximate values in euros and US dollars are provided for reference.

Healthcare

Here is a list of prices for private healthcare services in Panama:

1. Visit to a specialist doctor: The cost of a consultation with a specialist doctor in Panama can range from $30 to $100 (€25 to €85) depending on the specialization and the reputation of the doctor.

2. Dental visit: A routine dental check-up in Panama can cost around $30 to $50 (€25 to €42). However, the cost of specific dental treatments such as fillings, extractions, or root canals can vary and may range from $50 to $200 (€42 to €170) or more.

3. Eye examination: The cost of an eye examination by an ophthalmologist in Panama can range from $30 to $80 (€25 to €68). Additional costs may apply for specialized tests or procedures such as contact lens fitting or laser eye surgery.

4. Prescription medications: The cost of prescription medications in Panama can vary depending on the specific medication and the pharmacy. However, as a general estimate, the cost of common medications can range from $5 to $30 (€4 to €25) per prescription.

It is important to note that these prices are approximate and can vary depending on various factors such as the location, the reputation of the healthcare provider, and the complexity of the medical condition. Additionally, prices may be subject to change over time.

Overall, private healthcare services in Panama are generally more affordable compared to many other countries, making it an attractive destination for medical tourism.

Vacations and trips

Here is a list of prices related to vacations and trips in Panama:

1. Accommodation:

– Budget hostel: $10-15 per night (€8-12, $9-14)

– Mid-range hotel: $50-100 per night (€42-85, $47-94)

– Luxury resort: $200-500 per night (€170-425, $188-470)

2. Transportation:

– Public bus: $0.25-1 per ride (€0.20-0.85, $0.23-0.94)

– Taxi: $2-5 for short rides (€1.70-4.25, $1.88-4.70)

– Domestic flight: $50-200 for one-way ticket (€42-170, $47-188)

3. Food and drinks:

– Local street food: $2-5 per meal (€1.70-4.25, $1.88-4.70)

– Mid-range restaurant: $10-20 per meal (€8-17, $9-19)

– Imported alcohol: $5-10 per drink (€4-8.50, $4.70-9.40)

4. Activities and attractions:

– Entrance fee to national parks: $5-20 (€4-17, $4.70-19)

– Guided tour of Panama Canal: $30-100 (€25-85, $28-94)

– Snorkeling or diving excursion: $50-150 (€42-127, $47-141)

5. Miscellaneous:

– SIM card with data: $5-10 (€4-8.50, $4.70-9.40)

– Souvenirs: $5-20 (€4-17, $4.70-19)

– Spa or massage: $50-100 per session (€42-85, $47-94)

Please note that these prices are approximate and can vary depending on the location, season, and quality of services. It’s always a good idea to check current prices and exchange rates before planning your trip to Panama.

Clothes and accessories

The average prices of clothing and accessories in Panama are as follows:

1. T-shirts: $10-20 (€8-16, $9-18)

2. Jeans: $30-50 (€24-40, $27-45)

3. Dresses: $40-80 (€32-64, $36-72)

4. Shoes: $50-100 (€40-80, $45-90)

5. Handbags: $30-60 (€24-48, $27-54)

6. Sunglasses: $20-40 (€16-32, $18-36)

7. Hats: $10-30 (€8-24, $9-27)

8. Belts: $20-40 (€16-32, $18-36)

9. Scarves: $10-30 (€8-24, $9-27)

10. Jewelry: $20-50 (€16-40, $18-45)

Please note that these prices are approximate and can vary depending on the brand, quality, and location of the store. It is always a good idea to compare prices and shop around for the best deals.