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 $800 per month in Panama vs $1,688 in Spain, rent included.

A couple spends around $1,193 per month in Panama vs $2,494 in Spain, rent included.

A family of three spends $1,586 per month in Panama vs $3,299 in Spain, rent included.

The cost of living in Panama is roughly 53% lower than in Spain on average – the gap runs across housing, groceries, transport, and services.

Panama sits 42% below the global median, while Spain is 23% above – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$8.03 PAB 8.03

$17.19 €14.84

-53.29%

Three-Course Dinner for Two, Mid-Range

$45.89 PAB 45.89

$57.3 €49.43

-19.90%

Fast Food Meal (McDonalds, etc)

$8.20 PAB 8.20

$11.55 €9.96

-29.00%

Cappuccino

$3.93 PAB 3.93

$2.43 €2.10

61.73%

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

$1.56 PAB 1.56

$2.61 €2.25

-40.23%

Water (0.33 liter bottle)

$1.31 PAB 1.31

$1.87 €1.61

-29.95%

Local Beer (0.5 liter draught)

$2.44 PAB 2.44

$3.48 €3.00

-29.89%

Imported Beer (0.33 liter bottle)

$3.90 PAB 3.90

$3.97 €3.43

-1.76%

Milk (1 liter)

$1.81 PAB 1.81

$1.26 €1.09

43.65%

White Bread (500g)

$2.36 PAB 2.36

$1.52 €1.31

55.26%

Rice (white) (1kg)

$2.86 PAB 2.86

$1.66 €1.44

72.29%

Eggs

$2.56 PAB 2.56

$3.43 €2.96

-25.36%

Local Cheese (1kg)

$12.41 PAB 12.41

$14.76 €12.74

-15.92%

Chicken Fillets (1kg)

$6.96 PAB 6.96

$8.78 €7.58

-20.73%

Beef Round Steak (1kg)

$9.87 PAB 9.87

$16.77 €14.47

-41.14%

Apples (1kg)

$4.24 PAB 4.24

$2.61 €2.25

62.45%

Banana (1kg)

$1.49 PAB 1.49

$2.12 €1.83

-29.72%

Oranges (1kg)

$3.34 PAB 3.34

$2.13 €1.84

56.81%

Tomato (1kg)

$3.68 PAB 3.68

$2.67 €2.31

37.83%

Potato (1kg)

$2.46 PAB 2.46

$1.91 €1.65

28.80%

Onion (1kg)

$3.24 PAB 3.24

$2.01 €1.74

61.19%

Lettuce (1 head)

$2.24 PAB 2.24

$1.35 €1.16

65.93%

Water (1.5 liter bottle)

$1.59 PAB 1.59

$0.80 €0.69

98.75%

Cigarettes 20 Pack (Marlboro, Camel)

$5.84 PAB 5.84

$6.61 €5.70

-11.65%

Wine (Bottle)

$10.08 PAB 10.08

$5.65 €4.88

78.41%

Local Beer (0.5 liter bottle)

$1.39 PAB 1.39

$1.31 €1.13

6.11%

Imported Beer (0.33 liter bottle)

$2.35 PAB 2.35

$2.14 €1.85

9.81%

One-way Ticket (Public Transport)

$0.52 PAB 0.52

$1.70 €1.47

-69.41%

Public Transport Monthly Pass (Regular Price)

$21.16 PAB 21.16

$35.28 €30.44

-40.02%

Taxi Start (Normal Tariff)

$2.47 PAB 2.47

$4.58 €3.96

-46.07%

Taxi (Normal Tariff) (1km)

$1.86 PAB 1.86

$1.53 €1.32

21.57%

Taxi 1hour Waiting (Normal Tariff)

$22.19 PAB 22.19

$25.69 €22.16

-13.62%

Gasoline (1 liter)

$1.13 PAB 1.13

$1.79 €1.54

-36.87%

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

$21.5K PAB 21.5K

$37.2K €32.1K

-42.08%

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

$22.8K PAB 22.8K

$30.9K €26.7K

-26.29%

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

$115 PAB 115

$151 €130

-23.54%

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

$26.80 PAB 26.80

$17.98 €15.51

49.05%

Internet (50+ Mbps, Unlimited Data)

$47.78 PAB 47.78

$33.12 €28.58

44.26%

Gym Membership (Monthly)

$49.45 PAB 49.45

$46.74 €40.33

5.80%

Tennis Court (1 Hour on Weekend)

$29.33 PAB 29.33

$15.95 €13.76

83.89%

Cinema Ticket

$7.86 PAB 7.86

$10.10 €8.71

-22.18%

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

$546 PAB 546

$561 €484

-2.61%

International Primary School, 1 Child (Yearly)

$7,950 PAB 7,950

$11.1K €9,566

-28.29%

Jeans (Levis 501 Or Similar)

$51.3 PAB 51.3

$86.8 €74.9

-40.91%

Summer Dress (H&M, Zara, etc)

$38.17 PAB 38.17

$37.58 €32.42

1.57%

Sport Shoes (Adidas, Nike)

$89.7 PAB 89.7

$91.5 €78.9

-2.00%

Men's Leather Business Shoes

$118 PAB 118

$109 €94.2

7.76%

1-bedroom Apartment, City Center (Monthly)

$937 PAB 937

$1,046 €902

-10.39%

1-bedroom Apartment, Outside City Center (Monthly)

$728 PAB 728

$825 €712

-11.79%

3-bedroom Apartment, City Center (Monthly)

$1,675 PAB 1,675

$1,637 €1,412

2.36%

3-bedroom Apartment, Outside City Center (Monthly)

$1,212 PAB 1,212

$1,267 €1,093

-4.33%

Buy Apartment in City Center (m2)

$2,983 PAB 2,983

$4,290 €3,702

-30.47%

Buy Apartment Outside City Center (m2)

$1,684 PAB 1,684

$2,675 €2,308

-37.03%

Average Monthly Net Salary (After Tax)

$842 PAB 842

$2,046 €1,766

-58.87%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.35

3.29

93.01%

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

Last update for Panama: August 31, 2026

Last update for Spain: August 29, 2026

Cost Breakdown

Average rent: $340 in Panama vs $927 in Spain. For reference, capital cities sit at $1,276 in Panama City and $1,583 in Madrid.

Average salary: $719 in Panama vs $2,039 in Spain. The income gap affects purchasing power and how far your budget stretches in each country.

Cost Highlights

Rent is 173% higher in Spain.

Dining out costs 111% more in Spain.

Public transport is 900% more expensive in Spain.

Salaries are 184% 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 98% 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 98% 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.