Last update: Oct 2026

Cost of Living Comparison Between Panama City and Chiang Mai

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.

90

Cost of Living Index in Panama City
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Panama City Living Index
45

Cost of Living Index in Chiang Mai
Learn more

Chiang Mai Living Index

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Panama City

🇵🇦 Panama

$1,855

/mo nomad

Chiang Mai

🇹🇭 Thailand

$938

/mo nomad

Monthly Cost of Living

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

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

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

Panama City $1,855
Chiang Mai $938

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

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

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

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

Panama City costs about 98% more than Chiang Mai, and outside of rent the biggest gap is in eating out.

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

Meal at Budget Restaurant

$11.63 PAB 11.63

$2.26 ฿75.4

414.60%

Three-Course Dinner for Two, Mid-Range

$47.92 PAB 47.92

$19.18 ฿641

149.84%

Fast Food Meal (McDonalds, etc)

$7.96 PAB 7.96

$5.59 ฿187

42.40%

Cappuccino

$4.22 PAB 4.22

$1.72 ฿57.6

145.35%

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

$2.01 PAB 2.01

$0.64 ฿21.54

214.06%

Water (0.33 liter bottle)

$1.56 PAB 1.56

$0.33 ฿11.18

372.73%

Local Beer (0.5 liter draught)

$3.39 PAB 3.39

$2.36 ฿78.7

43.64%

Imported Beer (0.33 liter bottle)

$3.94 PAB 3.94

$3.90 ฿130

1.03%

Milk (1 liter)

$1.85 PAB 1.85

$2.05 ฿68.6

-9.76%

White Bread (500g)

$2.56 PAB 2.56

$1.40 ฿46.70

82.86%

Rice (white) (1kg)

$3.48 PAB 3.48

$1.28 ฿42.89

171.88%

Eggs

$2.69 PAB 2.69

$2.25 ฿75.3

19.56%

Local Cheese (1kg)

$12.57 PAB 12.57

$16.94 ฿566

-25.80%

Chicken Fillets (1kg)

$6.83 PAB 6.83

$2.74 ฿91.6

149.27%

Beef Round Steak (1kg)

$10.58 PAB 10.58

$9.36 ฿313

13.03%

Apples (1kg)

$4.18 PAB 4.18

$2.40 ฿80.3

74.17%

Banana (1kg)

$1.83 PAB 1.83

$1.01 ฿33.92

81.19%

Oranges (1kg)

$4.20 PAB 4.20

$1.61 ฿53.9

160.87%

Tomato (1kg)

$4.03 PAB 4.03

$1.52 ฿50.7

165.13%

Potato (1kg)

$3.48 PAB 3.48

$1.28 ฿42.90

171.88%

Onion (1kg)

$4.22 PAB 4.22

$1.11 ฿37.22

280.18%

Lettuce (1 head)

$2.41 PAB 2.41

$0.72 ฿24.09

234.72%

Water (1.5 liter bottle)

$1.69 PAB 1.69

$0.52 ฿17.54

225.00%

Cigarettes 20 Pack (Marlboro, Camel)

$6.14 PAB 6.14

$4.33 ฿145

41.80%

Wine (Bottle)

$11.30 PAB 11.30

$17.73 ฿593

-36.27%

Local Beer (0.5 liter bottle)

$1.42 PAB 1.42

$1.63 ฿54.4

-12.88%

Imported Beer (0.33 liter bottle)

$2.73 PAB 2.73

$2.85 ฿95.3

-4.21%

One-way Ticket (Public Transport)

$0.33 PAB 0.33

$0.85 ฿28.31

-61.18%

Public Transport Monthly Pass (Regular Price)

$21.23 PAB 21.23

$53.9 ฿1,801

-60.61%

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$1.17 ฿39.18

115.38%

Taxi (Normal Tariff) (1km)

$1.86 PAB 1.86

$0.57 ฿19.00

226.32%

Taxi 1hour Waiting (Normal Tariff)

$21.78 PAB 21.78

$2.37 ฿79.2

818.99%

Gasoline (1 liter)

$1.25 PAB 1.25

$1.45 ฿48.32

-13.79%

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

$21.2K PAB 21.2K

$20.5K ฿684.3K

3.72%

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

$21.0K PAB 21.0K

$26.5K ฿886.1K

-20.71%

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

$130 PAB 130

$62.3 ฿2,083

108.31%

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

$28.13 PAB 28.13

$12.27 ฿410

129.26%

Internet (50+ Mbps, Unlimited Data)

$48.21 PAB 48.21

$19.97 ฿668

141.41%

Gym Membership (Monthly)

$45.78 PAB 45.78

$37.91 ฿1,267

20.76%

Tennis Court (1 Hour on Weekend)

$34.92 PAB 34.92

$3.76 ฿126

828.72%

Cinema Ticket

$8.67 PAB 8.67

$6.71 ฿224

29.21%

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

$544 PAB 544

$797 ฿26.6K

-31.73%

International Primary School, 1 Child (Yearly)

$9,697 PAB 9,697

$14.8K ฿495.7K

-34.62%

Jeans (Levis 501 Or Similar)

$66.8 PAB 66.8

$53.3 ฿1,780

25.35%

Summer Dress (H&M, Zara, etc)

$49.14 PAB 49.14

$25.05 ฿837

96.17%

Sport Shoes (Adidas, Nike)

$93.9 PAB 93.9

$91.6 ฿3,062

2.43%

Men's Leather Business Shoes

$112 PAB 112

$73.5 ฿2,455

51.85%

1-bedroom Apartment, City Center (Monthly)

$1,257 PAB 1,257

$464 ฿15.5K

170.88%

1-bedroom Apartment, Outside City Center (Monthly)

$875 PAB 875

$305 ฿10.2K

187.18%

3-bedroom Apartment, City Center (Monthly)

$2,155 PAB 2,155

$915 ฿30.6K

135.44%

3-bedroom Apartment, Outside City Center (Monthly)

$1,564 PAB 1,564

$552 ฿18.5K

183.11%

Buy Apartment in City Center (m2)

$3,122 PAB 3,122

$1,912 ฿63.9K

63.30%

Buy Apartment Outside City Center (m2)

$1,709 PAB 1,709

$1,438 ฿48.1K

18.84%

Average Monthly Net Salary (After Tax)

$916 PAB 916

$595 ฿19.9K

53.89%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

5.57

14.72%

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

Last update for Panama City: October 10, 2026

Last update for Chiang Mai: October 13, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$875 47.2%

Chiang Mai

$305 32.5% 65.2% $570

Groceries & Markets

Panama City

$325 17.5%

Chiang Mai

$238 25.4% 26.8% $87

Eating Out

Panama City

$207 11.1%

Chiang Mai

$79 8.4% 61.8% $128

Monthly Utilities & Internet

Panama City

$206 11.1%

Chiang Mai

$95 10.1% 54.1% $112

Clothing & Footwear

Panama City

$145 7.8%

Chiang Mai

$110 11.7% 24.2% $35

Sport & Entertainment

Panama City

$63 3.4%

Chiang Mai

$51 5.5% 18.6% $12

Getting Around

Panama City

$34 1.9%

Chiang Mai

$61 6.5% 78.2% $27

Cost Breakdown

A central one-bedroom costs $1,257 in Panama City versus $464 in Chiang Mai. 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 $48.00 in Panama City versus $19.00 in Chiang Mai. Monthly groceries follow the same trend: $325 vs $238 – making Chiang Mai the more affordable choice for daily food spending.

Good to know

🇵🇦 Panama City

🇹🇭 Chiang Mai

🕒 Local time

10:22 10:22 AM

22:22 10:22 PM

12 h ahead of Panama City

🌤 Weather

👥 Population

1,086,990 Capital

127,240

💱 Currency

Panamanian Balboa PAB B/.

Thai Baht THB ฿

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.89 EUR

100 THB = 2.99 USD

100 THB = 2.66 EUR

Exchange rates and currency converter

THB, USD, EUR to PAB – Panamanian Balboa Converter

🇺🇸 United States Dollar ($)

🇵🇦 Panamanian Balboa (B/.)

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).

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).

USD to PAB in detail →

On the map

Lowest

Highest

Between locations

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

From you

Panama City
Chiang Mai

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

Panama City vs Chiang Mai: 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 $2,783 per month in Panama City and $1,408 in Chiang Mai. 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 $544 per month in Panama City and $797 in Chiang Mai. 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.