Last update: Oct 2026

Cost of Living Comparison Between Panama and Italy

Name: Italy
Address: IT

For one person, living is cheaper in Panama: $1,590 a month against $1,804 in Italy, rent and utilities included – about $2,600 less a year. Other living expenses account for most of the difference.

78

Cost of Living Index in Panama
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Panama Living Index
89

Cost of Living Index in Italy
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Italy Living Index

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🇵🇦 Panama

$1,590

/mo nomad

🇮🇹 Italy

$1,804

/mo nomad

Monthly Cost of Living

How much you'll spend in Panama and in Italy

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

Monthly costs for one person with rent: $1,590 in Panama versus $1,804 in Italy.

Panama $1,590
Italy $1,804

Estimated couple costs with rent: $2,415 in Panama versus $2,778 in Italy.

Panama $2,415
Italy $2,778

Monthly costs for a family of three with rent: $3,241 in Panama versus $3,752 in Italy.

Panama $3,241
Italy $3,752

Living in Panama costs about 12% less than in Italy on average.

Both countries sit above the global median: Panama 18% above, Italy 34% above.

Meal at Budget Restaurant

$7.80 PAB 7.80

$19.89 €17.70

-60.78%

Three-Course Dinner for Two, Mid-Range

$44.15 PAB 44.15

$77.0 €68.5

-42.65%

Fast Food Meal (McDonalds, etc)

$7.87 PAB 7.87

$11.00 €9.78

-28.45%

Cappuccino

$3.86 PAB 3.86

$1.99 €1.77

93.97%

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

$1.60 PAB 1.60

$2.96 €2.63

-45.95%

Water (0.33 liter bottle)

$1.40 PAB 1.40

$1.41 €1.25

-0.71%

Local Beer (0.5 liter draught)

$2.24 PAB 2.24

$5.60 €4.98

-60.00%

Imported Beer (0.33 liter bottle)

$3.96 PAB 3.96

$5.67 €5.05

-30.16%

Milk (1 liter)

$1.80 PAB 1.80

$1.61 €1.43

11.80%

White Bread (500g)

$2.29 PAB 2.29

$2.30 €2.05

-0.43%

Rice (white) (1kg)

$2.91 PAB 2.91

$2.99 €2.66

-2.68%

Eggs

$2.49 PAB 2.49

$4.06 €3.61

-38.67%

Local Cheese (1kg)

$12.07 PAB 12.07

$17.23 €15.33

-29.95%

Chicken Fillets (1kg)

$7.22 PAB 7.22

$12.68 €11.28

-43.06%

Beef Round Steak (1kg)

$10.43 PAB 10.43

$20.36 €18.11

-48.77%

Apples (1kg)

$4.18 PAB 4.18

$2.54 €2.26

64.57%

Banana (1kg)

$1.42 PAB 1.42

$2.15 €1.91

-33.95%

Oranges (1kg)

$3.61 PAB 3.61

$2.56 €2.28

41.02%

Tomato (1kg)

$3.86 PAB 3.86

$3.22 €2.86

19.88%

Potato (1kg)

$2.64 PAB 2.64

$1.92 €1.70

37.50%

Onion (1kg)

$3.14 PAB 3.14

$1.84 €1.64

70.65%

Lettuce (1 head)

$2.28 PAB 2.28

$1.51 €1.34

50.99%

Water (1.5 liter bottle)

$1.57 PAB 1.57

$0.55 €0.49

185.45%

Cigarettes 20 Pack (Marlboro, Camel)

$5.87 PAB 5.87

$6.81 €6.06

-13.80%

Wine (Bottle)

$10.15 PAB 10.15

$8.03 €7.15

26.40%

Local Beer (0.5 liter bottle)

$1.34 PAB 1.34

$1.72 €1.53

-22.09%

Imported Beer (0.33 liter bottle)

$2.40 PAB 2.40

$2.37 €2.11

1.27%

One-way Ticket (Public Transport)

$0.44 PAB 0.44

$1.88 €1.67

-76.60%

Public Transport Monthly Pass (Regular Price)

$21.23 PAB 21.23

$43.31 €38.52

-50.98%

Taxi Start (Normal Tariff)

$2.49 PAB 2.49

$5.57 €4.95

-55.30%

Taxi (Normal Tariff) (1km)

$1.78 PAB 1.78

$1.63 €1.45

9.20%

Taxi 1hour Waiting (Normal Tariff)

$22.40 PAB 22.40

$33.78 €30.04

-33.69%

Gasoline (1 liter)

$1.18 PAB 1.18

$2.04 €1.81

-42.16%

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

$21.6K PAB 21.6K

$35.6K €31.7K

-39.48%

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

$22.4K PAB 22.4K

$35.4K €31.5K

-36.56%

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

$118 PAB 118

$222 €198

-46.93%

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

$26.75 PAB 26.75

$11.43 €10.17

134.03%

Internet (50+ Mbps, Unlimited Data)

$46.56 PAB 46.56

$30.65 €27.26

51.91%

Gym Membership (Monthly)

$48.98 PAB 48.98

$52.7 €46.89

-7.09%

Tennis Court (1 Hour on Weekend)

$29.75 PAB 29.75

$23.82 €21.19

24.90%

Cinema Ticket

$7.95 PAB 7.95

$10.51 €9.35

-24.36%

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

$553 PAB 553

$541 €481

2.13%

International Primary School, 1 Child (Yearly)

$8,030 PAB 8,030

$11.7K €10.4K

-31.47%

Jeans (Levis 501 Or Similar)

$54.6 PAB 54.6

$90.0 €80.0

-39.36%

Summer Dress (H&M, Zara, etc)

$42.81 PAB 42.81

$39.08 €34.76

9.54%

Sport Shoes (Adidas, Nike)

$89.0 PAB 89.0

$101 €90.2

-12.20%

Men's Leather Business Shoes

$105 PAB 105

$132 €117

-20.45%

1-bedroom Apartment, City Center (Monthly)

$939 PAB 939

$805 €716

16.64%

1-bedroom Apartment, Outside City Center (Monthly)

$701 PAB 701

$619 €550

13.33%

3-bedroom Apartment, City Center (Monthly)

$1,709 PAB 1,709

$1,388 €1,235

23.12%

3-bedroom Apartment, Outside City Center (Monthly)

$1,258 PAB 1,258

$1,050 €934

19.88%

Buy Apartment in City Center (m2)

$2,911 PAB 2,911

$3,623 €3,223

-19.67%

Buy Apartment Outside City Center (m2)

$1,643 PAB 1,643

$2,229 €1,983

-26.29%

Average Monthly Net Salary (After Tax)

$831 PAB 831

$1,889 €1,680

-56.03%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.37

3.56

78.93%

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

Last update for Panama: October 11, 2026

Last update for Italy: October 11, 2026

Monthly budget structure

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

Accommodation & Living

Panama

$701 44.1%

Italy

$619 34.3% 11.8% $83

Groceries & Markets

Panama

$303 19.1%

Italy

$347 19.2% 14.3% $44

Monthly Utilities & Internet

Panama

$191 12%

Italy

$265 14.7% 38.2% $73

Eating Out

Panama

$163 10.3%

Italy

$273 15.1% 67% $109

Clothing & Footwear

Panama

$131 8.3%

Italy

$163 9% 24.4% $32

Sport & Entertainment

Panama

$65 4.1%

Italy

$74 4.1% 13.7% $8.9

Getting Around

Panama

$34 2.2%

Italy

$65 3.6% 87.8% $30

Cost Breakdown

National rent averages: $336 in Panama, $721 in Italy. Capital cities: $1,257 in Panama City vs $1,222 in Rome.

National salary averages: $686 in Panama, $1,888 in Italy. Higher pay doesn't always mean more spending money – weigh income against local costs.

Cost Highlights

Rent is 115% higher in Italy.

Dining out costs 161% more in Italy.

Public transport is 1267% more expensive in Italy.

Salaries are 175% higher in Italy, and purchasing power comes out stronger in Italy.

Good to know

🇵🇦 Panama

🇮🇹 Italy

🕒 Local time

23:16 11:16 PM

06:16 6:16 AM

7 h ahead of Panama

🌤 Weather

👥 Population

4,098,587

58,850,717

💱 Currency

Panamanian Balboa PAB B/.

Euro EUR €

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.89 EUR

1 EUR = 1.12 USD

Exchange rates and currency converter

EUR, USD 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).

Euro exchange rates as of October 19, 2026: 1 USD = 0.889 EUR (1 EUR = 1.12 USD).

USD to PAB in detail →

On the map

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Between locations

Panama Italy 9,510 km ≈ 12 h nonstop flight

From you

Panama
Italy

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 vs Italy: Cost of Living - Frequently Asked Questions

At $1,804 per month in Italy and $1,590 in Panama, there's a 14% gap. 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.

Rent for a central one-bedroom averages $721 in Italy and $336 in Panama. Rents vary a lot between cities, so the gap depends on where you settle.

In Panama, $2,000 covers most cities easily; in Italy it stretches only to regional areas and falls short in the capital – you'll need to make trade-offs on housing or lifestyle.

It depends on what you're after: Panama wins on affordability; Italy may offer higher salaries, better infrastructure, and different cultural perks. Both attract large expat communities for different reasons.