Last update: Oct 2026

Cost of Living Comparison Between Italy and Panama

Name: Panama
Address: PA

For one person, living is cheaper in Panama: $1,619 a month against $1,843 in Italy, rent and utilities included – about $2,700 less a year. Other living expenses account for most of the difference.

88

Cost of Living Index in Italy
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Italy Living Index
78

Cost of Living Index in Panama
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Panama Living Index

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🇮🇹 Italy

$1,843

/mo nomad

🇵🇦 Panama

$1,619

/mo nomad

Monthly Cost of Living

How much you'll spend in Italy and in Panama

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

Monthly costs for one person with rent: $1,843 in Italy versus $1,619 in Panama.

Italy $1,843
Panama $1,619

Estimated couple costs with rent: $2,816 in Italy versus $2,502 in Panama.

Italy $2,816
Panama $2,502

Monthly costs for a family of three with rent: $3,788 in Italy versus $3,384 in Panama.

Italy $3,788
Panama $3,384

Italy ($1,038–$2,555) and Panama ($174–$1,932) have similar cost spreads. Where you settle within each country has roughly equal impact on the budget.

Living in Italy is roughly 14% more expensive than in Panama on average.

Both countries sit above the global median: Italy 35% above, Panama 19% above.

Meal at Budget Restaurant

$20.46 €18.32

$8.22 PAB 8.22

148.91%

Three-Course Dinner for Two, Mid-Range

$79.5 €71.2

$44.37 PAB 44.37

79.18%

Fast Food Meal (McDonalds, etc)

$11.15 €9.99

$8.18 PAB 8.18

36.31%

Cappuccino

$2.04 €1.83

$4.02 PAB 4.02

-49.25%

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

$3.10 €2.78

$1.63 PAB 1.63

90.18%

Water (0.33 liter bottle)

$1.40 €1.25

$1.35 PAB 1.35

3.70%

Local Beer (0.5 liter draught)

$5.51 €4.94

$2.20 PAB 2.20

150.45%

Imported Beer (0.33 liter bottle)

$5.74 €5.14

$4.06 PAB 4.06

41.38%

Milk (1 liter)

$1.57 €1.41

$1.87 PAB 1.87

-16.04%

White Bread (500g)

$2.38 €2.13

$2.43 PAB 2.43

-2.06%

Rice (white) (1kg)

$2.90 €2.60

$3.04 PAB 3.04

-4.61%

Eggs

$4.07 €3.65

$2.47 PAB 2.47

64.78%

Local Cheese (1kg)

$17.44 €15.62

$12.09 PAB 12.09

44.25%

Chicken Fillets (1kg)

$12.56 €11.25

$7.24 PAB 7.24

73.48%

Beef Round Steak (1kg)

$20.17 €18.06

$10.09 PAB 10.09

99.90%

Apples (1kg)

$2.58 €2.31

$4.13 PAB 4.13

-37.53%

Banana (1kg)

$2.19 €1.96

$1.50 PAB 1.50

46.00%

Oranges (1kg)

$2.68 €2.40

$3.61 PAB 3.61

-25.76%

Tomato (1kg)

$3.27 €2.93

$3.84 PAB 3.84

-14.84%

Potato (1kg)

$1.90 €1.70

$2.63 PAB 2.63

-27.76%

Onion (1kg)

$1.82 €1.63

$3.26 PAB 3.26

-44.17%

Lettuce (1 head)

$1.57 €1.40

$2.21 PAB 2.21

-28.96%

Water (1.5 liter bottle)

$0.55 €0.49

$1.59 PAB 1.59

-65.41%

Cigarettes 20 Pack (Marlboro, Camel)

$6.69 €5.99

$5.96 PAB 5.96

12.25%

Wine (Bottle)

$7.99 €7.15

$9.88 PAB 9.88

-19.13%

Local Beer (0.5 liter bottle)

$1.77 €1.59

$1.39 PAB 1.39

27.34%

Imported Beer (0.33 liter bottle)

$2.35 €2.11

$2.40 PAB 2.40

-2.08%

One-way Ticket (Public Transport)

$1.91 €1.71

$0.41 PAB 0.41

365.85%

Public Transport Monthly Pass (Regular Price)

$43.44 €38.90

$21.33 PAB 21.33

103.66%

Taxi Start (Normal Tariff)

$5.62 €5.03

$2.56 PAB 2.56

119.53%

Taxi (Normal Tariff) (1km)

$1.71 €1.54

$1.84 PAB 1.84

-7.07%

Taxi 1hour Waiting (Normal Tariff)

$33.64 €30.12

$21.97 PAB 21.97

53.12%

Gasoline (1 liter)

$2.03 €1.82

$1.17 PAB 1.17

73.50%

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

$35.3K €31.6K

$26.0K PAB 26.0K

35.83%

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

$36.7K €32.9K

$22.9K PAB 22.9K

60.77%

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

$227 €203

$116 PAB 116

94.78%

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

$11.59 €10.38

$26.53 PAB 26.53

-56.31%

Internet (50+ Mbps, Unlimited Data)

$30.38 €27.21

$46.36 PAB 46.36

-34.47%

Gym Membership (Monthly)

$51.8 €46.37

$47.47 PAB 47.47

9.06%

Tennis Court (1 Hour on Weekend)

$23.70 €21.22

$30.48 PAB 30.48

-22.24%

Cinema Ticket

$10.60 €9.50

$7.77 PAB 7.77

36.42%

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

$568 €508

$541 PAB 541

5.00%

International Primary School, 1 Child (Yearly)

$11.5K €10.3K

$7,955 PAB 7,955

44.85%

Jeans (Levis 501 Or Similar)

$90.5 €81.1

$55.3 PAB 55.3

63.77%

Summer Dress (H&M, Zara, etc)

$38.55 €34.53

$44.64 PAB 44.64

-13.64%

Sport Shoes (Adidas, Nike)

$103 €91.9

$88.1 PAB 88.1

16.52%

Men's Leather Business Shoes

$131 €117

$102 PAB 102

27.96%

1-bedroom Apartment, City Center (Monthly)

$826 €739

$994 PAB 994

-16.96%

1-bedroom Apartment, Outside City Center (Monthly)

$646 €579

$727 PAB 727

-11.16%

3-bedroom Apartment, City Center (Monthly)

$1,400 €1,254

$1,830 PAB 1,830

-23.50%

3-bedroom Apartment, Outside City Center (Monthly)

$1,054 €944

$1,390 PAB 1,390

-24.14%

Buy Apartment in City Center (m2)

$3,662 €3,280

$3,036 PAB 3,036

20.63%

Buy Apartment Outside City Center (m2)

$2,301 €2,061

$1,764 PAB 1,764

30.43%

Average Monthly Net Salary (After Tax)

$1,886 €1,689

$821 PAB 821

129.68%

20-Year Fixed Mortgage Interest Rate (Annual %)

3.56

6.37

-44.11%

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

Last update for Italy: October 24, 2026

Last update for Panama: October 26, 2026

Monthly budget structure

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

Accommodation & Living

Italy

$646 35.1%

Panama

$727 44.9% 12.6% $81

Groceries & Markets

Italy

$348 18.9%

Panama

$305 18.8% 12.4% $43

Eating Out

Italy

$279 15.1%

Panama

$170 10.5% 39.1% $109

Monthly Utilities & Internet

Italy

$269 14.6%

Panama

$189 11.7% 29.5% $79

Clothing & Footwear

Italy

$163 8.9%

Panama

$131 8.1% 19.9% $33

Sport & Entertainment

Italy

$73 4%

Panama

$63 3.9% 13.6% $10

Getting Around

Italy

$65 3.5%

Panama

$35 2.2% 46.8% $31

Cost Breakdown

National rent averages: $729 in Italy, $735 in Panama. Capital cities: $1,297 in Rome vs $1,407 in Panama City.

National salary averages: $1,890 in Italy, $692 in Panama. Higher pay doesn’t always mean more spending money – weigh income against local costs.

Cost Highlights

Dining out costs 70% more in Italy.

Public transport is 87% more expensive in Italy.

Salaries are about 2.7 times higher in Italy, and purchasing power comes out stronger in Italy.

Good to know

🇮🇹 Italy

🇵🇦 Panama

🕒 Local time

01:06 1:06 AM

19:06 7:06 PM

6 h behind Italy

🌤 Weather

👥 Population

58,850,717

4,098,587

💱 Currency

Euro EUR €

Panamanian Balboa PAB B/.

📈 Exchange rate

1 EUR = 1.12 USD

1 PAB = 1 USD

1 PAB = 0.896 EUR

Exchange rates and currency converter

On the map

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Between locations

Italy Panama 9,510 km ≈ 12 h nonstop flight

From you

Italy
Panama

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

Italy vs Panama: Cost of Living - Frequently Asked Questions

At $1,843 per month in Italy and $1,619 in Panama, Panama comes out about 12% cheaper. Keep in mind it varies by city – the difference can be bigger or smaller depending on where you settle within each country.

Day-to-day life is cheaper in Panama: lower grocery prices, cheaper commutes, and more affordable meals out. Over time, those daily savings make a real difference to your monthly budget and ability to put money away.

It depends on what you’re after: Panama wins on affordability, while salaries, visas, language, and lifestyle can tip the balance either way.