Which place is cheaper, Panama City or Banos?
These are the overall average travel costs for the two destinations.
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Should you visit Banos or Panama City?
Which is cheaper to visit? Which is more expensive for vacation?
Which city should you visit? Read on to compare the activities as well as the prices of travel for Banos and Panama City. We'll break down costs for accommodation, food, transportation and more to help you learn more about these two destinations. Then, you can figure out if either of these two places are accessible based on your travel budget, schedule, and interests. So, let's dig into it.
Where Should I go: Banos or Panama City?
Banos
Banos (de Agua Santa) is a small city in the Andean highlands of Ecuador under volcano Tungurahua. Its name, which is Spanish for "Baths (of sacred water)," comes from the famous hydrothermal springs in the area. It's equally popular with foreigners as with Ecuadorians, and is known as the adventure capital of Ecuador. The streets are lined with hotels, restaurants, souvenir shops, and tour agencies. Although it is very touristy, lots of people love it, more for the activities and surroundings than for the city itself. It is an important hub for outdoor sports and jungle tours.
Panama City
Panama City is the cosmopolitan capital city of the country of Panama. With a population of almost 900,000 and almost 1.5 million in the metropolitan area, it's a very diverse city with expat residents from all over the world. You don't have to search far to find someone who speaks English, and many Panamanians are quite helpful and friendly.
For some great organized tour ideas, see The Best Wildlife Tours to Ecuador, The Best Hiking & Trekking Tours in Ecuador, The Best 2-Week Tours from Panama City, and The Best Adventure Tours to Panama.
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Average Daily Cost Per person, per dayBanos $46Panama City $86
The average daily cost (per person) in Banos is $46, while the average daily cost in Panama City is $86. These costs include accommodation (assuming double occupancy, so the traveler is sharing the room), food, transportation, and entertainment. While every person is different, these costs are an average of past travelers in each destination. What follows is a categorical breakdown of travel costs for Banos and Panama City in more detail.
Accommodation
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Accommodation Hotel or hostel for one personBanos $16Panama City $35
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Accommodation Typical double-occupancy roomBanos $32Panama City $70
Compare Hotels in Banos and Panama City
Looking for a hotel in Banos or Panama City? Prices vary by location, date, season, and the level of luxury. See below for options and compare which is best for your budget and travel style.
Kayak helps you find the best prices for hotels, flights, and rental cars for destinations around the world. Compare prices for multiple destinations when planning your next trip.
Our Analysis
We've analyzed the average and typical hotel prices based on guest reviews, star ratings, and hotel amenities here: Banos Hotel Prices and Panama City Hotel Prices.
Local Transportation
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Local Transportation Taxis, local buses, subway, etc.Banos $10Panama City $11
Hired Cars and Shuttles in Panama City
Also for Panama City, here are a few examples of actual transportation services:
- Airport TRANSFER 1 way Tocumen Howard BLB Albrook Rio Hato Colon: $28
- PTY Tocumen Airport Private Transfer One Way or Round Trip!: $45
- Panama Airport (PTY) to Panama city - Arrival Private Transfer: $28
- Panama Airport (PTY) to Panama city - Round-Trip Private Transfer: $57
- Panama Airport (PTY) to Playa Blanca Round-Trip Private Transfer: $127
- Panama Airport (PTY) to Playa Bonita/Gamboa - Private Transfer: $38
- Embera Indian Village Tour w/ Airport Transfer: $290
- Guided Panama Canal & City Tour with Transfers: $65
- Half-Day City & Canal Tour w/ Airport Transfer: $215
- Historic District and Canal Tour with Transfer: $65
- One-Way or Round-Trip PTY Airport Transfer: $47
- Shopping at Albrook Mall & Round-Trip Transfer: $36
Is it cheaper to fly into Banos or Panama City?
Prices for flights to both Panama City and Banos change regularly based on dates and travel demand. We suggest you find the best prices for your next trip on Kayak, because you can compare the cost of flights across multiple airlines for your prefered dates.
Food
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Food Meals for one dayBanos $15Panama City $21
Typical Food Prices in Banos
Below are a few samples from actual travelers for food and meal costs in Banos:
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Dinner$13
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Ice cream$1.50
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Coffee$2.50
Typical Food Prices in Panama City
Here are some examples of typical meal expenses from previous travelers to Panama City:
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Sandwich$8.27
Food Tours and Cooking Classes in Panama City
For Panama City, here are some samples of tours and activities related to meals and dining experiences:
- Panama Evening Food Tour: $60
- 10-Recipe Boozy Panamanian Cooking Class : $85
- 4-Hour Guided Panamanian Cooking Class and Markets Experience: $85
- Panama: 10-Recipe Boozy Panamanian Cooking Class + Dinner: $85
- The 'Real' Panamanian Private Food Tour: $200
Entertainment
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Entertainment Entrance tickets, shows, etc.Banos $19Panama City $66
Typical Entertainment Prices in Banos
Here are a few typical costs in Banos for activities, ticket prices, and tours that come from previous visitors:
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Two Rented Bikes for the Day$10
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Cost to see Waterfall$2.00
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Day at the Spa$45
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2 Bike Rentals (1 Day)$10
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Entrance to Waterfall$2.00
Tours and Activities in Banos
Here are a few actual costs in Banos for available activities, ticket prices, and tours:
- Adventure and Fun River Rafting in Baños Ecuador: $35
- 2 Hours Small-Group Horseback Riding Experience in Banos: $30
- 3 Hours Small-Group Horseback Riding Experience in Baños: $40
- 5-Hour Small-Group Horseback Riding Experience in Baños: $62
- Adventure Circuit 4 activities in 1. All within an impressive cascade: $25
- Adventure in Baños 3 Days 2 Nights: $225
- Animalpark | Theme Park | Tours | naturally fun: $45
- Baths Nature and Adventure 2 Days.: $190
- Canopy Ziplining in Puntzan Adventure Park: $26
- Canyoning Adventure Tour in the Ravine: $30
- Chimborazo Volcano Bike Tour: $95
- Chimborazo Volcano from Baños private day Tour: $139
Tours and Activities in Panama City
Also, here are some specific examples of entertainment, tickets, and activities for Panama City.
- Bar tour in El Cangrejo with Bar Hopping Panama: $20
- Tour de bares en El Cangrejo con Bar Hopping Panama: $20
- POIN The Edge Experience: $27
- POIN Glass Viewpoint Experience: $27
- POIN Swing Experience: $27
- Highlights Bike Tour in Casco Viejo & Cinta Costera: $28
- Panama City Bike Tour: $30
- City Sightseeing Hop-On Hop-Off Bus Tour: $30
- walking tour in Casco Antiguo !: $30
- Sunset Walking Tour at Casco Viejo El Chorrillo and the fish market: $30
- City Sightseeing Panama City Hop-On Hop-Off Bus Tour: $30
- Bike tour in Panama City and Old Quarter with local guided: $31
Alcohol
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Alcohol Drinks for one dayBanos $9.74Panama City $18
Typical Alcohol Prices in Banos
Here are a few samples of the prices for alcohol and nightlife in Banos from other travelers:
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Beer$4.00
When we compare the travel costs of actual travelers between Banos and Panama City, we can see that Panama City is more expensive. And not only is Banos much less expensive, but it is actually a significantly cheaper destination. Since Banos is in South America and Panama City is in Central America, this is one of the main reasons why the costs are so different, as different regions of the world tend to have overall different travel costs. So, traveling to Banos would let you spend less money overall. Or, you could decide to spend more money in Banos and be able to afford a more luxurious travel style by staying in nicer hotels, eating at more expensive restaurants, taking tours, and experiencing more activities. The same level of travel in Panama City would naturally cost you much more money, so you would probably want to keep your budget a little tighter in Panama City than you might in Banos.
If you're trying to decide if either of these two destinations are within your price range, also see Is Banos Expensive? and Is Panama City Expensive?.
Which is Bigger, Banos or Panama City?
Panama City has a larger population, and is about 40 times larger than the population of Banos. When comparing the sizes of Banos and Panama City, keep in mind that a larger population does not always imply the destination has more attractions or better activities. So, always research the type of place that you want to visit along with the activities and attractions that interest you.
Budget Your Trip is all about finding out how much everything costs so that you can travel cheaper and longer. Created by avid travelers Laurie and Bryan, our goal is to help you plan your next trip on the right budget. With average daily travel costs that are calculated from the budgets of real travelers, plus an analysis of hotel and tour prices, you can find out how much money you need to plan your next adventure. We also have plenty of travel advice, accommodation reviews, and activity suggestions.