Cost of Living in Panamá
How much does it cost to visit Panamá? Daily budgets, accommodation costs, and real price examples for 2026.
Photo: Avel Chuklanov / Unsplash
Daily Budget Breakdown
Budget
Hostels, street food, free attractions
USD 50
per day
Weekly: USD 350
Monthly: USD 1500
Examples
- 🏨Hostel Albrook dorm bedUSD 15
- 🍽️Local 'fonda' for a 'casado' (set meal)USD 6
- 🚌Metro bus day passUSD 2
- 🎟️Explore Casco Viejo on foot, visit Panama City CathedralUSD 0
- 🎟️Visit Miraflores Locks at the Panama Canal (basic entry)USD 17
Mid-Range
3-star hotels, restaurants, guided tours
USD 150
per day
Weekly: USD 1050
Monthly: USD 4500
Examples
- 🏨Hotel Amador (standard room)USD 60
- 🍽️Lunch at Fonda Lo Que Hay (modern Panamanian)USD 15
- 🍽️Dinner at Donde Jose (tasting menu)USD 50
- 🚌Uber rides within the cityUSD 25
- 🎟️Guided tour of Casco ViejoUSD 20
- 🎟️Visit BiomuseoUSD 10
Luxury
5-star hotels, fine dining, private tours
USD 400
per day
Weekly: USD 2800
Monthly: USD 12000
Examples
- 🏨The Santa Maria Hotel & Golf Resort (suite)USD 250
- 🍽️Brunch at the American Trade HotelUSD 40
- 🍽️Fine dining at IntimoUSD 120
- 🚌Private driver for the dayUSD 50
- 🎟️Full day tour of the Panama Canal, including a boat tourUSD 40
Cost by Category
accommodation
20-60 (hostel/budget hotel)
food
20-50 (local eateries/mid-range)
Transport
5-15 (local buses/short rideshares)
activities
15-40 (museums/walking tours)
Cost by Neighbourhood
| Neighbourhood | Budget Level | vs City Centre | Best For |
|---|---|---|---|
| Casco Viejo | Luxury | premium | first-timers, couples |
| Obarrio | Luxury | premium | business travelers, luxury |
| Bella Vista | Mid-range | average | families, couples |
| Punta Pacifica | Luxury | premium | luxury, families |
Money-Saving Tips for Panamá
🏨 Accommodation
- Stay in budget neighbourhoods outside the tourist centre
- Book apartments for longer stays (weekly discounts)
- Travel in shoulder season for lower hotel rates
- Compare prices across multiple booking platforms
🍽️ Food & Drink
- Eat where locals eat, away from tourist hotspots
- Try street food and market stalls for cheap eats
- Buy lunch specials instead of evening meals
- Cook some meals if your accommodation has a kitchen
🚌 Transport
- Buy multi-day transit passes for unlimited travel
- Walk between nearby attractions to save fares
- Use public transport over taxis where possible
- Book airport transfers in advance for fixed prices
🎟️ Activities
- Take free walking tours (tip-based)
- Look for free museum days or discounted hours
- Book tours and activities online for lower prices
- Explore parks, markets, and neighbourhoods on foot
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FAQ: Panamá Costs
How much does it cost to visit Panamá?
Budget travellers can visit Panamá for around USD 50/day (USD 350/week). Mid-range travellers should budget USD 150/day, while luxury travel costs around USD 400/day.
Is Panamá expensive?
Panamá is affordable for most travellers. At just USD 50/day for budget travellers, your money goes a long way here.
How much should I budget per day in Panamá?
For a comfortable mid-range experience in Panamá, budget USD 150/day. This covers a decent hotel, meals at sit-down restaurants, public transport, and a couple of activities.
What is the cheapest way to visit Panamá?
Budget travellers in Panamá can get by on USD 50/day by staying in hostels or budget hotels, eating street food and local restaurants, using public transport, and choosing free walking tours and public attractions.