Cost of living in Panama compared to Italy
Currency:
| Food | - 14% | |||
|---|---|---|---|---|
| Food in Panama is 14% cheaper than in Italy | ||||
| Panama | Italy | Diff | ||
| Basic lunchtime menu (including a drink) in the business district | 14 B/. (€12) | €14 | - 16% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 7 B/. (€5.53) | €8 | - 31% | |
| 500 gr (1 lb.) of boneless chicken breast | 3.51 B/. (€2.98) | €4.47 | - 33% | |
| 1 liter (1 qt.) of whole fat milk | 1.53 B/. (€1.30) | €1.29 | + 1% | |
| 12 eggs, large | 2.65 B/. (€2.25) | €3.51 | - 36% | |
| 1 kg (2 lb.) of tomatoes | 2.48 B/. (€2.11) | €2.17 | - 3% | |
| 500 gr (16 oz.) of local cheese | 5.55 B/. (€4.72) | €6 | - 27% | |
| 1 kg (2 lb.) of apples | 2.23 B/. (€1.90) | €1.95 | - 3% | |
| 1 kg (2 lb.) of potatoes | 2.31 B/. (€1.96) | €1.27 | + 54% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 1.02 B/. (€0.87) | €1.27 | - 32% | |
| 1 bottle of red table wine, good quality | 11 B/. (€9) | €7 | + 30% | |
| 2 liters of coca-cola | 2.21 B/. (€1.88) | €1.90 | - 1% | |
| Bread for 2 people for 1 day | 1.43 B/. (€1.22) | €1.07 | + 14% | |
| Housing | - 4% | |||
| Housing in Panama is 4% cheaper than in Italy | ||||
| Panama | Italy | Diff | ||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,364 B/. (€1,159) | €1,129 | + 3% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 877 B/. (€746) | €878 | - 15% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 115 B/. (€98) | €120 | - 18% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 925 B/. (€786) | €834 | - 6% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 577 B/. (€491) | €553 | - 11% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 68 B/. (€58) | €95 | - 39% | |
| Internet 8 mbps (1 month) | 43 B/. (€36) | €26 | + 39% | |
| 40” flat screen tv | 338 B/. (€288) | €345 | - 17% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 115 B/. (€98) | €103 | - 5% | |
| Laundry detergent (3 l. ~ 100 oz.) | 7 B/. (€5.89) | €5.25 | + 12% | |
| Hourly rate for cleaning help | 6 B/. (€5.51) | €10 | - 46% | |
| Clothes | - 26% | |||
| Clothes in Panama is 26% cheaper than in Italy | ||||
| Panama | Italy | Diff | ||
| 1 pair of jeans (levis 501 or similar) | 45 B/. (€39) | €77 | - 50% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 38 B/. (€32) | €34 | - 6% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 77 B/. (€66) | €84 | - 22% | |
| 1 pair of men’s leather business shoes | 82 B/. (€70) | €119 | - 42% | |
| Transportation | - 23% | |||
| Transportation in Panama is 23% cheaper than in Italy | ||||
| Panama | Italy | Diff | ||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 20,846 B/. (€17,720) | €23,633 | - 25% | |
| 1 liter (1/4 gallon) of gas | 0.70 B/. (€0.59) | €1.48 | - 60% | |
| Monthly ticket public transport | 39 B/. (€33) | €35 | - 6% | |
| Personal Care | + 4% | |||
| Personal Care in Panama is 4% more expensive than in Italy | ||||
| Panama | Italy | Diff | ||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 7 B/. (€6) | €4.89 | + 24% | |
| 1 box of antibiotics (12 doses) | 19 B/. (€16) | €5.71 | + 185% | |
| Short visit to private doctor (15 minutes) | 42 B/. (€35) | €67 | - 47% | |
| 1 box of 32 tampons (tampax, ob, ...) | 5.79 B/. (€4.92) | €5.16 | - 5% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 3.52 B/. (€2.99) | €3.62 | - 17% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 7 B/. (€6) | €2.94 | + 106% | |
| 4 rolls of toilet paper | 3.05 B/. (€2.60) | €2.40 | + 8% | |
| Tube of toothpaste | 2.58 B/. (€2.19) | €1.83 | + 20% | |
| Standard men's haircut in expat area of the city | 15 B/. (€13) | €18 | - 28% | |
| Entertainment | + 32% | |||
| Entertainment in Panama is 32% more expensive than in Italy | ||||
| Panama | Italy | Diff | ||
| Basic dinner out for two in neighborhood pub | 22 B/. (€19) | €35 | - 46% | |
| 2 tickets to the movies | 12 B/. (€11) | €17 | - 39% | |
| 2 tickets to the theater (best available seats) | 36 B/. (€30) | €94 | - 68% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 51 B/. (€43) | €65 | - 33% | |
| 1 cocktail drink in downtown club | 9 B/. (€8) | €8 | - 5% | |
| Cappuccino in expat area of the city | 5.08 B/. (€4.32) | €1.56 | + 177% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 3.49 B/. (€2.97) | €4.78 | - 38% | |
| Ipad wi-fi 128gb | 949 B/. (€806) | €479 | + 68% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 1.00 B/. (€0.85) | €0.14 | + 506% | |
| 1 month of gym membership in business district | 47 B/. (€40) | €51 | - 22% | |
| 1 package of marlboro cigarettes | 5.14 B/. (€4.37) | €5.65 | - 23% | |
| TOTAL | - 5% | |||
These prices were last updated on July 24, 2021.
Exchange rate:
0.850
EUR
/
PAB
This comparison is based on abundant and consistent data. It is based on 2,174 prices entered by 308 different people.
Cost of living in Panama is 5% cheaper than in Italy
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