Cost of living in Panama compared to Italy
Currency:
| Food | - 17% | |||
|---|---|---|---|---|
| Food in Panama is 17% cheaper than in Italy | ||||
| Basic lunchtime menu (including a drink) in the business district | 11 B/. (€10) | €14 | - 30% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 7 B/. (€5.79) | €8 | - 29% | |
| 500 gr (1 lb.) of boneless chicken breast | 3.14 B/. (€2.68) | €4.38 | - 39% | |
| 1 liter (1 qt.) of whole fat milk | 1.52 B/. (€1.29) | €1.25 | + 4% | |
| 12 eggs, large | 2.67 B/. (€2.27) | €3.47 | - 35% | |
| 1 kg (2 lb.) of tomatoes | 2.52 B/. (€2.15) | €2.06 | + 4% | |
| 500 gr (16 oz.) of local cheese | 6 B/. (€5.20) | €7 | - 21% | |
| 1 kg (2 lb.) of apples | 2.84 B/. (€2.42) | €1.92 | + 26% | |
| 1 kg (2 lb.) of potatoes | 2.31 B/. (€1.97) | €1.32 | + 49% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 0.94 B/. (€0.80) | €1.20 | - 33% | |
| 1 bottle of red table wine, good quality | 10 B/. (€8) | €7 | + 29% | |
| 2 liters of coca-cola | 2.37 B/. (€2.02) | €1.86 | + 9% | |
| Bread for 2 people for 1 day | 1.41 B/. (€1.20) | €1.27 | - 6% | |
| Housing | - 14% | |||
| Housing in Panama is 14% cheaper than in Italy | ||||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,267 B/. (€1,078) | €1,304 | - 17% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 808 B/. (€688) | €879 | - 22% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 111 B/. (€95) | €130 | - 27% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 867 B/. (€738) | €822 | - 10% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 596 B/. (€508) | €597 | - 15% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 82 B/. (€70) | €102 | - 32% | |
| Internet 8 mbps (1 month) | 39 B/. (€33) | €23 | + 45% | |
| 40” flat screen tv | 365 B/. (€311) | €354 | - 12% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 108 B/. (€92) | €118 | - 22% | |
| Laundry detergent (3 l. ~ 100 oz.) | 8 B/. (€7) | €5.29 | + 32% | |
| Hourly rate for cleaning help | 4.44 B/. (€3.78) | €11 | - 64% | |
| Clothes | - 24% | |||
| Clothes in Panama is 24% cheaper than in Italy | ||||
| 1 pair of jeans (levis 501 or similar) | 50 B/. (€43) | €83 | - 48% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 37 B/. (€31) | €31 | + 2% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 72 B/. (€61) | €87 | - 29% | |
| 1 pair of men’s leather business shoes | 79 B/. (€67) | €114 | - 41% | |
| Transportation | - 32% | |||
| Transportation in Panama is 32% cheaper than in Italy | ||||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 20,246 B/. (€17,234) | €22,845 | - 25% | |
| 1 liter (1/4 gallon) of gas | 0.82 B/. (€0.70) | €1.52 | - 54% | |
| Monthly ticket public transport | 30 B/. (€26) | €36 | - 29% | |
| Personal Care | - 3% | |||
| Personal Care in Panama is about the same as in Italy | ||||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 8 B/. (€7) | €6 | + 20% | |
| 1 box of antibiotics (12 doses) | 25 B/. (€21) | €10 | + 109% | |
| Short visit to private doctor (15 minutes) | 43 B/. (€36) | €82 | - 56% | |
| 1 box of 32 tampons (tampax, ob, ...) | 4.94 B/. (€4.21) | €5.60 | - 25% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 4.07 B/. (€3.46) | €3.22 | + 8% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 5.28 B/. (€4.49) | €2.71 | + 66% | |
| 4 rolls of toilet paper | 2.43 B/. (€2.07) | €2.39 | - 14% | |
| Tube of toothpaste | 2.69 B/. (€2.29) | €2.06 | + 11% | |
| Standard men's haircut in expat area of the city | 13 B/. (€11) | €17 | - 32% | |
| Entertainment | - 15% | |||
| Entertainment in Panama is 15% cheaper than in Italy | ||||
| Basic dinner out for two in neighborhood pub | 37 B/. (€31) | €37 | - 15% | |
| 2 tickets to the movies | 12 B/. (€10) | €17 | - 42% | |
| 2 tickets to the theater (best available seats) | 39 B/. (€33) | €84 | - 61% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 57 B/. (€49) | €63 | - 23% | |
| 1 cocktail drink in downtown club | 10 B/. (€8) | €9 | - 8% | |
| Cappuccino in expat area of the city | 3.95 B/. (€3.36) | €1.50 | + 125% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 3.54 B/. (€3.01) | €5.03 | - 40% | |
| Ipad wi-fi 128gb | 537 B/. (€457) | €457 | + 0% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 0.24 B/. (€0.20) | €0.15 | + 33% | |
| 1 month of gym membership in business district | 48 B/. (€41) | €55 | - 26% | |
| 1 package of marlboro cigarettes | 5.35 B/. (€4.56) | €5.44 | - 16% | |
| TOTAL | - 18% | |||
These prices were last updated on August 12, 2020.
Exchange rate:
0.851
EUR
/
PAB
This comparison is based on abundant and consistent data. It is based on 3,650 prices entered by 451 different people.
Cost of living in Panama is 18% cheaper than in Italy
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