Cost of living in Panama compared to Italy
Currency:
Food | - 22% | |||
---|---|---|---|---|
Food in Panama is 22% cheaper than in Italy | ||||
Panama | Italy | Diff | ||
Basic lunchtime menu (including a drink) in the business district | 13 B/. (€12) | €17 | - 27% | |
Combo meal in fast food restaurant (big mac meal or similar) | 7 B/. (€7) | €10 | - 34% | |
500 gr (1 lb.) of boneless chicken breast | 3.80 B/. (€3.48) | €5.52 | - 37% | |
1 liter (1 qt.) of whole fat milk | 1.73 B/. (€1.58) | €1.48 | + 7% | |
12 eggs, large | 3.37 B/. (€3.10) | €3.71 | - 17% | |
1 kg (2 lb.) of tomatoes | 2.48 B/. (€2.28) | €3.03 | - 25% | |
500 gr (16 oz.) of local cheese | 6 B/. (€5.64) | €7 | - 23% | |
1 kg (2 lb.) of apples | 2.66 B/. (€2.44) | €2.27 | + 8% | |
1 kg (2 lb.) of potatoes | 2.34 B/. (€2.15) | €1.75 | + 23% | |
0.5 l (16 oz) domestic beer in the supermarket | 0.95 B/. (€0.87) | €1.56 | - 44% | |
1 bottle of red table wine, good quality | 11 B/. (€10) | €7 | + 53% | |
2 liters of coca-cola | 2.56 B/. (€2.35) | €2.30 | + 2% | |
Bread for 2 people for 1 day | 1.27 B/. (€1.17) | €1.74 | - 33% | |
Housing | - 34% | |||
Housing in Panama is 34% cheaper than in Italy | ||||
Panama | Italy | Diff | ||
Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,244 B/. (€1,141) | €1,937 | - 41% | |
Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 790 B/. (€725) | €1,271 | - 43% | |
Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 115 B/. (€105) | €198 | - 47% | |
Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 755 B/. (€692) | €1,175 | - 41% | |
Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 507 B/. (€465) | €797 | - 42% | |
Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 98 B/. (€90) | €130 | - 31% | |
Internet 8 mbps (1 month) | 36 B/. (€33) | €26 | + 24% | |
40” flat screen tv | 308 B/. (€282) | €335 | - 16% | |
Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 98 B/. (€90) | €132 | - 32% | |
Laundry detergent (3 l. ~ 100 oz.) | 7 B/. (€7) | €7 | - 5% | |
Hourly rate for cleaning help | 10 B/. (€9) | €11 | - 14% | |
Clothes | - 24% | |||
Clothes in Panama is 24% cheaper than in Italy | ||||
Panama | Italy | Diff | ||
1 pair of jeans (levis 501 or similar) | 49 B/. (€45) | €77 | - 42% | |
1 summer dress in a high street store (zara, h&m or similar retailers) | 33 B/. (€31) | €34 | - 9% | |
1 pair of sport shoes (nike, adidas, or equivalent brands) | 87 B/. (€80) | €90 | - 11% | |
1 pair of men’s leather business shoes | 79 B/. (€73) | €117 | - 38% | |
Transportation | - 36% | |||
Transportation in Panama is 36% cheaper than in Italy | ||||
Panama | Italy | Diff | ||
Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 22,809 B/. (€20,927) | €30,879 | - 32% | |
1 liter (1/4 gallon) of gas | 1.08 B/. (€0.99) | €1.84 | - 46% | |
Monthly ticket public transport | 25 B/. (€23) | €37 | - 37% | |
Personal Care | - 26% | |||
Personal Care in Panama is 26% cheaper than in Italy | ||||
Panama | Italy | Diff | ||
Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 8 B/. (€8) | €10 | - 23% | |
1 box of antibiotics (12 doses) | 17 B/. (€16) | €10 | + 63% | |
Short visit to private doctor (15 minutes) | 29 B/. (€27) | €105 | - 75% | |
1 box of 32 tampons (tampax, ob, ...) | 5.50 B/. (€5.04) | €6 | - 21% | |
Deodorant, roll-on (50ml ~ 1.5 oz.) | 3.21 B/. (€2.95) | €4.20 | - 30% | |
Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 7 B/. (€6) | €3.51 | + 77% | |
4 rolls of toilet paper | 2.68 B/. (€2.46) | €3.36 | - 27% | |
Tube of toothpaste | 2.72 B/. (€2.50) | €2.90 | - 14% | |
Standard men's haircut in expat area of the city | 15 B/. (€14) | €20 | - 29% | |
Entertainment | - 24% | |||
Entertainment in Panama is 24% cheaper than in Italy | ||||
Panama | Italy | Diff | ||
Basic dinner out for two in neighborhood pub | 34 B/. (€31) | €39 | - 21% | |
2 tickets to the movies | 12 B/. (€11) | €19 | - 42% | |
2 tickets to the theater (best available seats) | 36 B/. (€33) | €78 | - 58% | |
Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 58 B/. (€53) | €75 | - 29% | |
1 cocktail drink in downtown club | 10 B/. (€9) | €10 | - 5% | |
Cappuccino in expat area of the city | 4.92 B/. (€4.51) | €1.81 | + 149% | |
1 beer in neighbourhood pub (500ml or 1pt.) | 2.83 B/. (€2.59) | €5.39 | - 52% | |
Ipad wi-fi 128gb | 663 B/. (€609) | €830 | - 27% | |
1 min. of prepaid mobile tariff (no discounts or plans) | 0.29 B/. (€0.26) | €0.34 | - 24% | |
1 month of gym membership in business district | 49 B/. (€45) | €56 | - 20% | |
1 package of marlboro cigarettes | 5.65 B/. (€5.19) | €6 | - 14% | |
TOTAL | - 30% |
These prices were last updated on March 18, 2024.
Exchange rate:
0.917
EUR
/
PAB
This comparison is based on abundant and consistent data. It is based on 1,922 prices entered by 269 different people.
Cost of living in Panama is 30% cheaper than in Italy
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