Last update: Oct 2026

Cost of Living Comparison Between Chiang Mai and Panama City

For one person, living is cheaper in Chiang Mai: $938 a month against $1,855 in Panama City, rent and utilities included – about $11,000 less a year. Rent and utilities account for most of the difference.

45

Cost of Living Index in Chiang Mai
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Chiang Mai Living Index
90

Cost of Living Index in Panama City
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Panama City Living Index

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Chiang Mai

🇹🇭 Thailand

$938

/mo nomad

Panama City

🇵🇦 Panama

$1,855

/mo nomad

Monthly Cost of Living

How much you'll spend in Chiang Mai and in Panama City

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Chiang Mai and in Panama City actually costs, broken down by who's living it.

A single person spends $938 per month in Chiang Mai vs $1,855 in Panama City, rent included.

Chiang Mai $938
Panama City $1,855

A couple spends around $1,426 per month in Chiang Mai vs $2,804 in Panama City, rent included.

Chiang Mai $1,426
Panama City $2,804

A family of three spends $1,914 per month in Chiang Mai vs $3,753 in Panama City, rent included.

Chiang Mai $1,914
Panama City $3,753

Chiang Mai is about 49% cheaper than Panama City, and outside of rent the biggest gap is in eating out.

Chiang Mai sits 30% below the global median, while Panama City is 37% above – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$2.26 ฿75.4

$11.63 PAB 11.63

-80.57%

Three-Course Dinner for Two, Mid-Range

$19.18 ฿641

$47.92 PAB 47.92

-59.97%

Fast Food Meal (McDonalds, etc)

$5.59 ฿187

$7.96 PAB 7.96

-29.77%

Cappuccino

$1.72 ฿57.6

$4.22 PAB 4.22

-59.24%

Coke/Pepsi/Fanta/Sprite (0.33 liter bottle)

$0.64 ฿21.54

$2.01 PAB 2.01

-68.16%

Water (0.33 liter bottle)

$0.33 ฿11.18

$1.56 PAB 1.56

-78.85%

Local Beer (0.5 liter draught)

$2.36 ฿78.7

$3.39 PAB 3.39

-30.38%

Imported Beer (0.33 liter bottle)

$3.90 ฿130

$3.94 PAB 3.94

-1.02%

Milk (1 liter)

$2.05 ฿68.6

$1.85 PAB 1.85

10.81%

White Bread (500g)

$1.40 ฿46.70

$2.56 PAB 2.56

-45.31%

Rice (white) (1kg)

$1.28 ฿42.89

$3.48 PAB 3.48

-63.22%

Eggs

$2.25 ฿75.3

$2.69 PAB 2.69

-16.36%

Local Cheese (1kg)

$16.94 ฿566

$12.57 PAB 12.57

34.77%

Chicken Fillets (1kg)

$2.74 ฿91.6

$6.83 PAB 6.83

-59.88%

Beef Round Steak (1kg)

$9.36 ฿313

$10.58 PAB 10.58

-11.53%

Apples (1kg)

$2.40 ฿80.3

$4.18 PAB 4.18

-42.58%

Banana (1kg)

$1.01 ฿33.92

$1.83 PAB 1.83

-44.81%

Oranges (1kg)

$1.61 ฿53.9

$4.20 PAB 4.20

-61.67%

Tomato (1kg)

$1.52 ฿50.7

$4.03 PAB 4.03

-62.28%

Potato (1kg)

$1.28 ฿42.90

$3.48 PAB 3.48

-63.22%

Onion (1kg)

$1.11 ฿37.22

$4.22 PAB 4.22

-73.70%

Lettuce (1 head)

$0.72 ฿24.09

$2.41 PAB 2.41

-70.12%

Water (1.5 liter bottle)

$0.52 ฿17.54

$1.69 PAB 1.69

-69.23%

Cigarettes 20 Pack (Marlboro, Camel)

$4.33 ฿145

$6.14 PAB 6.14

-29.48%

Wine (Bottle)

$17.73 ฿593

$11.30 PAB 11.30

56.90%

Local Beer (0.5 liter bottle)

$1.63 ฿54.4

$1.42 PAB 1.42

14.79%

Imported Beer (0.33 liter bottle)

$2.85 ฿95.3

$2.73 PAB 2.73

4.40%

One-way Ticket (Public Transport)

$0.85 ฿28.31

$0.33 PAB 0.33

157.58%

Public Transport Monthly Pass (Regular Price)

$53.9 ฿1,801

$21.23 PAB 21.23

153.89%

Taxi Start (Normal Tariff)

$1.17 ฿39.18

$2.52 PAB 2.52

-53.57%

Taxi (Normal Tariff) (1km)

$0.57 ฿19.00

$1.86 PAB 1.86

-69.35%

Taxi 1hour Waiting (Normal Tariff)

$2.37 ฿79.2

$21.78 PAB 21.78

-89.12%

Gasoline (1 liter)

$1.45 ฿48.32

$1.25 PAB 1.25

16.00%

Midsize Hatchback 1.4l (Volkswagen Golf, Toyota Prius, Honda Civic, etc)

$20.5K ฿684.3K

$21.2K PAB 21.2K

-3.59%

Compact Sedan 1.6l (Toyota Corolla, Mazda3, Kia K4, Hyundai Elantra, etc)

$26.5K ฿886.1K

$21.0K PAB 21.0K

26.12%

Utilities for 2 People in 2-bedroom Apartment (Heating, Electricity, Gas, Water, Garbage) (85m2)

$62.3 ฿2,083

$130 PAB 130

-51.99%

SIM Card Monthly Plan (Calls and 10GB+ Data)

$12.27 ฿410

$28.13 PAB 28.13

-56.38%

Internet (50+ Mbps, Unlimited Data)

$19.97 ฿668

$48.21 PAB 48.21

-58.58%

Gym Membership (Monthly)

$37.91 ฿1,267

$45.78 PAB 45.78

-17.19%

Tennis Court (1 Hour on Weekend)

$3.76 ฿126

$34.92 PAB 34.92

-89.23%

Cinema Ticket

$6.71 ฿224

$8.67 PAB 8.67

-22.61%

Preschool or Kindergarten, Full Day, Private, 1 Child (Monthly)

$797 ฿26.6K

$544 PAB 544

46.47%

International Primary School, 1 Child (Yearly)

$14.8K ฿495.7K

$9,697 PAB 9,697

52.95%

Jeans (Levis 501 Or Similar)

$53.3 ฿1,780

$66.8 PAB 66.8

-20.22%

Summer Dress (H&M, Zara, etc)

$25.05 ฿837

$49.14 PAB 49.14

-49.02%

Sport Shoes (Adidas, Nike)

$91.6 ฿3,062

$93.9 PAB 93.9

-2.38%

Men's Leather Business Shoes

$73.5 ฿2,455

$112 PAB 112

-34.15%

1-bedroom Apartment, City Center (Monthly)

$464 ฿15.5K

$1,257 PAB 1,257

-63.08%

1-bedroom Apartment, Outside City Center (Monthly)

$305 ฿10.2K

$875 PAB 875

-65.18%

3-bedroom Apartment, City Center (Monthly)

$915 ฿30.6K

$2,155 PAB 2,155

-57.53%

3-bedroom Apartment, Outside City Center (Monthly)

$552 ฿18.5K

$1,564 PAB 1,564

-64.68%

Buy Apartment in City Center (m2)

$1,912 ฿63.9K

$3,122 PAB 3,122

-38.76%

Buy Apartment Outside City Center (m2)

$1,438 ฿48.1K

$1,709 PAB 1,709

-15.85%

Average Monthly Net Salary (After Tax)

$595 ฿19.9K

$916 PAB 916

-35.02%

20-Year Fixed Mortgage Interest Rate (Annual %)

5.57

6.39

-12.83%

CityCost data is based on AI and user input – minor inaccuracies may occur.

Last update for Chiang Mai: October 13, 2026

Last update for Panama City: October 10, 2026

Monthly budget structure

Share of the monthly basket for one person, rent included.

Accommodation & Living

Chiang Mai

$305 32.5%

Panama City

$875 47.2% 187% $570

Groceries & Markets

Chiang Mai

$238 25.4%

Panama City

$325 17.5% 36.6% $87

Clothing & Footwear

Chiang Mai

$110 11.7%

Panama City

$145 7.8% 32% $35

Monthly Utilities & Internet

Chiang Mai

$95 10.1%

Panama City

$206 11.1% 118% $112

Eating Out

Chiang Mai

$79 8.4%

Panama City

$207 11.1% 162% $128

Getting Around

Chiang Mai

$61 6.5%

Panama City

$34 1.9% 43.9% $27

Sport & Entertainment

Chiang Mai

$51 5.5%

Panama City

$63 3.4% 22.9% $12

Cost Breakdown

A central one-bedroom costs $464 in Chiang Mai versus $1,257 in Panama City. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

Salaries run about 54% higher in Panama City, which partly offsets the higher cost of living there. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $19.00 in Chiang Mai versus $48.00 in Panama City. Monthly groceries follow the same trend: $238 vs $325 – making Chiang Mai the more affordable choice for daily food spending.

Good to know

🇹🇭 Chiang Mai

🇵🇦 Panama City

🕒 Local time

22:53 10:53 PM

10:53 10:53 AM

12 h behind Chiang Mai

🌤 Weather

👥 Population

127,240

1,086,990 Capital

💱 Currency

Thai Baht THB ฿

Panamanian Balboa PAB B/.

📈 Exchange rate

100 THB = 2.99 USD

100 THB = 2.66 EUR

1 PAB = 1 USD

1 PAB = 0.89 EUR

Exchange rates and currency converter

PAB, USD, EUR to THB – Thai Baht Converter

🇺🇸 United States Dollar ($)

🇹🇭 Thai Baht (฿)

Thai Baht exchange rates as of October 19, 2026: 1 USD = 33.42 THB (100 THB = 2.99 USD). 1 EUR = 37.57 THB (100 THB = 2.66 EUR).

Panamanian Balboa exchange rates as of October 19, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.89 EUR).

USD to THB in detail →

On the map

Lowest

Highest

Between locations

Chiang Mai Panama City 16,920 km ≈ 22 h nonstop flight

From you

Chiang Mai
Panama City

Distances are measured in a straight line. Your location is detected approximately.

City Median Internet Speeds Comparison (Updated April 2026)

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

Chiang Mai vs Panama City: Cost of Living - Frequently Asked Questions

Panama City costs about 98% more than Chiang Mai, and outside of rent the gap comes mainly from eating out. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $1,408 per month in Chiang Mai and $2,783 in Panama City. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Chiang Mai, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

Kindergarten costs $797 per month in Chiang Mai and $544 in Panama City. For families with young kids, this one expense can tip the scales when choosing between the two cities.

Groceries cost about 37% more in Panama City, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A $1,000 monthly budget goes further in Chiang Mai, where all-in costs run around $938, than in Panama City at $1,855. In Chiang Mai it covers expenses comfortably, while in Panama City it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Chiang Mai costs $938 versus $1,855 in Panama City. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

Both have safer and rougher neighborhoods, but overall safety is comparable to other large cities. Neighborhood choice matters more than the city-level comparison – central, well-trafficked areas feel secure in both.

If budget matters most, go with Chiang Mai. If higher salaries, better infrastructure, or specific career opportunities are the priority, Panama City makes more sense. Both are solid long-term options with distinct trade-offs.