Cost of Living Comparison Between Panama and Spain Cost of Living Comparison Between Panama and Spain

Name: Spain
Address: ES

Monthly Cost of Living

A single person spends $839 per month in Panama vs $1,642 in Spain, rent included.

A couple spends around $1,204 per month in Panama vs $2,393 in Spain, rent included.

A family of three spends $1,568 per month in Panama vs $3,144 in Spain, rent included.

The cost of living in Panama is roughly 49% lower than in Spain on average – the gap runs across housing, groceries, transport, and services.

Panama sits 37% below the global median, while Spain is 23% above – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$10.05 PAB 10.05

$16.46 €14.40

-38.94%

Three-Course Dinner for Two, Mid-Range

$49.64 PAB 49.64

$58.1 €50.8

-14.50%

Fast Food Meal (McDonalds, etc)

$7.37 PAB 7.37

$10.59 €9.27

-30.41%

Cappuccino

$3.53 PAB 3.53

$2.30 €2.01

53.48%

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

$1.47 PAB 1.47

$2.59 €2.26

-43.24%

Water (0.33 liter bottle)

$1.24 PAB 1.24

$1.88 €1.65

-34.04%

Local Beer (0.5 liter draught)

$2.30 PAB 2.30

$3.41 €2.98

-32.55%

Imported Beer (0.33 liter bottle)

$3.69 PAB 3.69

$3.97 €3.47

-7.05%

Milk (1 liter)

$1.84 PAB 1.84

$1.18 €1.03

55.93%

White Bread (500g)

$2.44 PAB 2.44

$1.54 €1.35

58.44%

Rice (white) (1kg)

$2.36 PAB 2.36

$1.59 €1.39

48.43%

Eggs

$2.69 PAB 2.69

$3.05 €2.67

-11.80%

Local Cheese (1kg)

$11.25 PAB 11.25

$14.38 €12.58

-21.77%

Chicken Fillets (1kg)

$7.32 PAB 7.32

$8.46 €7.40

-13.48%

Beef Round Steak (1kg)

$9.24 PAB 9.24

$15.94 €13.95

-42.03%

Apples (1kg)

$4.03 PAB 4.03

$2.54 €2.22

58.66%

Banana (1kg)

$1.33 PAB 1.33

$2.08 €1.82

-36.06%

Oranges (1kg)

$2.89 PAB 2.89

$2.02 €1.77

43.07%

Tomato (1kg)

$2.99 PAB 2.99

$2.66 €2.32

12.41%

Potato (1kg)

$2.18 PAB 2.18

$1.82 €1.59

19.78%

Onion (1kg)

$2.46 PAB 2.46

$1.88 €1.65

30.85%

Lettuce (1 head)

$2.12 PAB 2.12

$1.35 €1.18

57.04%

Water (1.5 liter bottle)

$1.63 PAB 1.63

$0.75 €0.66

117.33%

Cigarettes 20 Pack (Marlboro, Camel)

$5.77 PAB 5.77

$6.35 €5.56

-9.13%

Wine (Bottle)

$9.98 PAB 9.98

$5.75 €5.03

73.57%

Local Beer (0.5 liter bottle)

$1.21 PAB 1.21

$1.30 €1.14

-6.92%

Imported Beer (0.33 liter bottle)

$2.17 PAB 2.17

$2.11 €1.85

2.84%

One-way Ticket (Public Transport)

$0.52 PAB 0.52

$1.72 €1.50

-69.77%

Public Transport Monthly Pass (Regular Price)

$25.39 PAB 25.39

$35.11 €30.71

-27.68%

Taxi Start (Normal Tariff)

$2.01 PAB 2.01

$4.56 €3.99

-55.92%

Taxi (Normal Tariff) (1km)

$2.06 PAB 2.06

$1.30 €1.14

58.46%

Taxi 1hour Waiting (Normal Tariff)

$20.72 PAB 20.72

$26.70 €23.36

-22.40%

Gasoline (1 liter)

$0.91 PAB 0.91

$1.81 €1.58

-49.72%

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

$22.1K PAB 22.1K

$39.2K €34.3K

-43.74%

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

$21.4K PAB 21.4K

$30.6K €26.8K

-30.16%

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

$106 PAB 106

$153 €133

-30.46%

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

$28.57 PAB 28.57

$20.36 €17.82

40.32%

Internet (50+ Mbps, Unlimited Data)

$48.55 PAB 48.55

$34.00 €29.75

42.79%

Gym Membership (Monthly)

$50.5 PAB 50.5

$48.13 €42.11

4.90%

Tennis Court (1 Hour on Weekend)

$33.26 PAB 33.26

$16.14 €14.12

106.07%

Cinema Ticket

$6.96 PAB 6.96

$9.37 €8.20

-25.72%

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

$445 PAB 445

$520 €455

-14.43%

International Primary School, 1 Child (Yearly)

$11.3K PAB 11.3K

$10.2K €8,900

10.97%

Jeans (Levis 501 Or Similar)

$47.40 PAB 47.40

$85.9 €75.2

-44.85%

Summer Dress (H&M, Zara, etc)

$40.37 PAB 40.37

$36.75 €32.15

9.85%

Sport Shoes (Adidas, Nike)

$83.5 PAB 83.5

$91.7 €80.2

-9.00%

Men's Leather Business Shoes

$116 PAB 116

$108 €94.8

7.47%

1-bedroom Apartment, City Center (Monthly)

$933 PAB 933

$1,043 €912

-10.49%

1-bedroom Apartment, Outside City Center (Monthly)

$722 PAB 722

$834 €730

-13.45%

3-bedroom Apartment, City Center (Monthly)

$1,721 PAB 1,721

$1,674 €1,464

2.79%

3-bedroom Apartment, Outside City Center (Monthly)

$1,333 PAB 1,333

$1,223 €1,070

9.01%

Buy Apartment in City Center (m2)

$2,974 PAB 2,974

$4,158 €3,638

-28.47%

Buy Apartment Outside City Center (m2)

$1,701 PAB 1,701

$2,629 €2,301

-35.31%

Average Monthly Net Salary (After Tax)

$813 PAB 813

$1,965 €1,719

-58.64%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.3

3.51

79.49%

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

Last update for Panama: July 12, 2026

Last update for Spain: July 12, 2026

Cost Breakdown

Average rent: $371 in Panama vs $897 in Spain. For reference, capital cities sit at $1,158 in Panama City and $1,607 in Madrid.

Average salary: $713 in Panama vs $1,989 in Spain. The income gap affects purchasing power and how far your budget stretches in each country.

Cost Highlights

Rent is 142% higher in Spain.

Dining out costs 96% more in Spain.

Public transport is 560% more expensive in Spain.

Salaries are 179% higher in Spain, and purchasing power comes out stronger in Spain.

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 Spain: Cost of Living - Frequently Asked Questions

Panama is the cheaper option – living costs run roughly 137% lower on average. The gap is consistent across housing, groceries, transport, and entertainment.

Housing costs more in Spain, and the gap is biggest in capital cities. Regional towns show less difference, but Spain consistently has higher rents.

Groceries, transport, and utilities all cost less in Panama, contributing to the overall 137% price gap. The savings show up everywhere – from supermarket receipts to monthly bills.

$2,000 buys a comfortable lifestyle in Panama, but in Spain it only works with careful planning outside the capital. Same money, very different lives.

Panama is the budget-friendly choice for expats – lower housing and daily costs. But cost isn't everything: visa policies, language, healthcare quality, and job markets all weigh in too.