Cost of living in Panama compared to South Korea
Currency:
Food | - 23% | |||
---|---|---|---|---|
Food in Panama is 23% cheaper than in South Korea | ||||
Panama | South Korea | Diff | ||
Basic lunchtime menu (including a drink) in the business district | 13 B/. (₩17,939) | ₩12,081 | + 48% | |
Combo meal in fast food restaurant (big mac meal or similar) | 7 B/. (₩9,754) | ₩7,849 | + 24% | |
500 gr (1 lb.) of boneless chicken breast | 3.80 B/. (₩5,050) | ₩5,923 | - 15% | |
1 liter (1 qt.) of whole fat milk | 1.73 B/. (₩2,298) | ₩2,942 | - 22% | |
12 eggs, large | 3.37 B/. (₩4,488) | ₩5,102 | - 12% | |
1 kg (2 lb.) of tomatoes | 2.48 B/. (₩3,306) | ₩7,780 | - 58% | |
500 gr (16 oz.) of local cheese | 6 B/. (₩8,172) | ₩8,958 | - 9% | |
1 kg (2 lb.) of apples | 2.66 B/. (₩3,543) | ₩6,825 | - 48% | |
1 kg (2 lb.) of potatoes | 2.34 B/. (₩3,114) | ₩4,178 | - 25% | |
0.5 l (16 oz) domestic beer in the supermarket | 0.95 B/. (₩1,263) | ₩3,056 | - 59% | |
1 bottle of red table wine, good quality | 11 B/. (₩14,603) | ₩21,973 | - 34% | |
2 liters of coca-cola | 2.56 B/. (₩3,408) | ₩3,494 | - 2% | |
Bread for 2 people for 1 day | 1.27 B/. (₩1,694) | ₩4,603 | - 63% | |
Housing | - 6% | |||
Housing in Panama is 6% cheaper than in South Korea | ||||
Panama | South Korea | Diff | ||
Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 1,244 B/. (₩1,655,040) | ₩1,500,120 | + 10% | |
Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 790 B/. (₩1,051,483) | ₩1,934,250 | - 46% | |
Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 115 B/. (₩152,335) | ₩240,148 | - 37% | |
Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 755 B/. (₩1,003,824) | ₩1,264,360 | - 21% | |
Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 507 B/. (₩674,744) | ₩725,161 | - 7% | |
Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 98 B/. (₩129,907) | ₩80,000 | + 62% | |
Internet 8 mbps (1 month) | 36 B/. (₩47,605) | ₩28,380 | + 68% | |
40” flat screen tv | 308 B/. (₩409,485) | ₩433,362 | - 6% | |
Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 98 B/. (₩129,929) | ₩100,000 | + 30% | |
Laundry detergent (3 l. ~ 100 oz.) | 7 B/. (₩9,849) | ₩16,029 | - 39% | |
Hourly rate for cleaning help | 10 B/. (₩13,546) | ₩14,433 | - 6% | |
Clothes | - 25% | |||
Clothes in Panama is 25% cheaper than in South Korea | ||||
Panama | South Korea | Diff | ||
1 pair of jeans (levis 501 or similar) | 49 B/. (₩65,247) | ₩85,819 | - 24% | |
1 summer dress in a high street store (zara, h&m or similar retailers) | 33 B/. (₩44,502) | ₩66,260 | - 33% | |
1 pair of sport shoes (nike, adidas, or equivalent brands) | 87 B/. (₩116,206) | ₩96,399 | + 21% | |
1 pair of men’s leather business shoes | 79 B/. (₩105,595) | ₩148,450 | - 29% | |
Transportation | - 30% | |||
Transportation in Panama is 30% cheaper than in South Korea | ||||
Panama | South Korea | Diff | ||
Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 22,809 B/. (₩30,341,069) | ₩39,273,000 | - 23% | |
1 liter (1/4 gallon) of gas | 1.08 B/. (₩1,436) | ₩1,635 | - 12% | |
Monthly ticket public transport | 25 B/. (₩33,598) | ₩58,441 | - 43% | |
Personal Care | - 25% | |||
Personal Care in Panama is 25% cheaper than in South Korea | ||||
Panama | South Korea | Diff | ||
Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 8 B/. (₩11,178) | ₩7,985 | + 40% | |
1 box of antibiotics (12 doses) | 17 B/. (₩22,750) | ₩12,000 | + 90% | |
Short visit to private doctor (15 minutes) | 29 B/. (₩38,920) | ₩39,691 | - 2% | |
1 box of 32 tampons (tampax, ob, ...) | 5.50 B/. (₩7,313) | ₩20,000 | - 63% | |
Deodorant, roll-on (50ml ~ 1.5 oz.) | 3.21 B/. (₩4,276) | ₩15,000 | - 71% | |
Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 7 B/. (₩9,023) | ₩9,644 | - 6% | |
4 rolls of toilet paper | 2.68 B/. (₩3,569) | ₩3,593 | - 1% | |
Tube of toothpaste | 2.72 B/. (₩3,623) | ₩6,320 | - 43% | |
Standard men's haircut in expat area of the city | 15 B/. (₩20,354) | ₩14,338 | + 42% | |
Entertainment | - 9% | |||
Entertainment in Panama is 9% cheaper than in South Korea | ||||
Panama | South Korea | Diff | ||
Basic dinner out for two in neighborhood pub | 34 B/. (₩45,328) | ₩37,219 | + 22% | |
2 tickets to the movies | 12 B/. (₩16,166) | ₩27,364 | - 41% | |
2 tickets to the theater (best available seats) | 36 B/. (₩47,261) | ₩249,761 | - 81% | |
Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 58 B/. (₩76,737) | ₩127,461 | - 40% | |
1 cocktail drink in downtown club | 10 B/. (₩13,226) | ₩15,654 | - 16% | |
Cappuccino in expat area of the city | 4.92 B/. (₩6,539) | ₩5,510 | + 19% | |
1 beer in neighbourhood pub (500ml or 1pt.) | 2.83 B/. (₩3,759) | ₩6,631 | - 43% | |
Ipad wi-fi 128gb | 663 B/. (₩882,546) | ₩924,016 | - 4% | |
1 min. of prepaid mobile tariff (no discounts or plans) | 0.29 B/. (₩380) | ₩206 | + 84% | |
1 month of gym membership in business district | 49 B/. (₩65,015) | ₩98,667 | - 34% | |
1 package of marlboro cigarettes | 5.65 B/. (₩7,518) | ₩4,699 | + 60% | |
TOTAL | - 19% |
This comparison has some inconsistent or sparse data. It already provides a reliable comparison but it is not bullet-proof. It is based on 708 prices entered by 151 different people.
These prices were last updated on March 17, 2024.
Exchange rate:
1330.247
KRW
/
PAB
Cost of living in Panama is 19% cheaper than in South Korea
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