Which place is cheaper, Panama City or Cancun?
These are the overall average travel costs for the two destinations.
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Should you visit Cancun or Panama City?
Which is cheaper to visit? Which is more expensive for vacation?
Which city is more affordable and which is best for your travel style? If you're trying to figure out where to go next, comparing the travel costs between Cancun and Panama City can help you decide which place is right for you.
Where Should I go: Cancun or Panama City?
Cancun
In the northeast corner of the Mexican Caribbean, Cancun is one of Mexico's most popular destinations. The area that is now Cancun was actually selected specifically by the Mexican government for development as a tourist destination. The area was chosen because it has fourteen miles of beautiful white beaches, nearby Mayan ruins, and turquoise blue water with nearby snorkeling and scuba diving opportunities. Prior to its development as a tourist destination, there were few inhabitants in the area.
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 One-Week (7-Day) Tours from Playa del Carmen, The Best 2-Week Tours from Cancun, 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 dayCancun $148Panama City $86
The average daily cost (per person) in Cancun is $148, 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 Cancun and Panama City in more detail.
Accommodation
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Accommodation Hotel or hostel for one personCancun $98Panama City $35
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Accommodation Typical double-occupancy roomCancun $196Panama City $70
Compare Hotels in Cancun and Panama City
Looking for a hotel in Cancun 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: Cancun Hotel Prices and Panama City Hotel Prices.
Local Transportation
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Local Transportation Taxis, local buses, subway, etc.Cancun $18Panama City $11
Typical Local Transportation Prices in Cancun
Below are a few samples from actual travelers for transportation costs in Cancun:
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Taxi Around Town$1.68
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Airport Shuttle (for 2)$14
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Ferry to Isla de Mujeres (for 2)$17
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Local Bus (for 2)$2.04
Hired Cars and Shuttles in Cancun
Also for Cancun, here are a few examples of actual transportation services:
- Private RoundTrip Transfer to Xplor Adventure Park from Cancun: $297
- Cancun Airport to Tulum Roundtrip Private Transfer: $290
- Transfers in Lincoln Strecth Limousine with Wi Fi on board: $261
- Round trip private transfer VAN-Airport-Hotel-Airport-Playa del Carmen: $260
- Round trip private transfer VAN-Airport-Hotel-Airport-Puerto Morelos: $260
- Round trip Private airport transfer to Playa del Carmen Flat Rate per vehicle: $241
- Full-Day Tour to Xcaret Plus with Transfer from Playa del Carmen and Lunch: $238
- Airport Transfers to Costa Mujeres - Private van (ROUND TRIP) FLAT RATE: $232
- Private Transfer from Cancún Airport (CUN) to Tulum : $222
- Private One Way Transfer from Cancun Airport to Tulum: $220
- Private Round Trip Transfer (Cancun Airport - Playa del Carmen): $219
- Private round airport transfer from Cancun - Puerto Aventuras - airport.: $210
Hired Cars and Shuttles in Panama City
Also for Panama City, here are a few examples of actual transportation services:
- Transfers Airport - Hotels Riu Playa Blanca, Decameron, Bijao, Playa Blanca: $70
- Transfers: $37
- Transfer to Panama City, Hotel and City tour - 1 night: $266
- Transfer in private vehicle from Panama Tocumen Airport (PTY)- Panama City: $15
- Transfer in private vehicle from Panama City - Panama Tocumen Airport (PTY): $15
- Transfer in private minivan from Playa Bonita to Panama Tocumen Airport: $70
- Transfer in private minivan from Panama Tocumen Airport to Playa Bonita: $70
- Transfer in private minivan from Panama Tocumen Airport to Playa Blanca-Farallon: $160
- Transfer from Panama City Hotel to Tocumen Airport: $23
- Transfer from PTY Airport or Panama City to Playa Blanca and Back: $77
- Transfer Tocumen Airport to Panama City Hotels.: $25
- Transfer Panama Airport- Colon Cruise Terminal: $90
Is it cheaper to fly into Cancun or Panama City?
Prices for flights to both Panama City and Cancun 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 dayCancun $29Panama City $21
Typical Food Prices in Cancun
For Cancun, here are some examples of average food and meal prices for travelers:
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Lunch for Two$21
Food Tours and Cooking Classes in Cancun
For Cancun, here are some samples of tours and activities related to meals and dining experiences:
- Captain Hook: Pirate Show and Dinner Cruise in Cancun: $46
- Mayan Chichen Itza And Pirate Dinner Two Day Experience: $57
- The Ultimate Cancun Taco & Street Mexican Food Tour: $59
- Dinner Show with Pirates! (2x1 Price): $62
- (2x1 price) Pirate Night! Dinner, Fun and Show: $63
- (2x1 price) Dinner Show and Pirates Experience : $63
- (2x1 price)Pirate Adventure! Open Bar, Dinner and Show : $63
- Cancun Street Food Tour with Food Stalls, Local Market and Murals: $64
- Dinner Show on a Pirate Ship from Cancun with Open Bar: $65
- Guided Cancun Local Mexican Food Tour: $78
- Cancun Authentic Downtown Food Tour: Tacos and Local Flavors: $78
- Mexican Cooking Class with fresh Local Market ingredients selection and transpor: $79
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.Cancun $35Panama City $66
Typical Entertainment Prices in Cancun
Below are a few sample prices from actual travelers for Cancun's activities, tours, and tickets:
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Seasick Pills$0.60
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Whale Shark Tour (for 2)$102
Tours and Activities in Cancun
For Cancun, here are a few prices for actual activities, tours, and tickets provided by various companies:
- ATV Jungle Adventure with Ziplines, Cenote Transportation Included: $8.00
- Bacalar tour + Lunch + Boat, from Cancun and Riviera Maya: $139
- Coco Bongo Music And Show Ticket: $105
- Full Day All Inclusive Catamaran Tour to Isla Mujeres : $99
- Holbox Island Magic Tour from Cancun : $144
- Riviera Maya Luxury Snorkeling Cruise with Lunch and Drinks: $139
- (4x1) Full day tour to Tulum, Coba, Cenote and Playa del Carmen : $48
- (4x1) Tulum, Coba, Cenote and Playa del Carmen tour in one day: $50
- 1-Day Tour to Bacalar with Kayaking, Marmol Beach Club and Cenote: $115
- 1-Day Xavage Park Tour from Cancun: $186
- 12 hour Holbox Plus Tour with Cenote Lunch and Transportation: $105
- 15 Hours Guided Tour Holbox Island in Mexico: $115
Tours and Activities in Panama City
Also, here are some specific examples of entertainment, tickets, and activities for Panama City.
- City Tour y Canal de Panamá: $35
- #1 Walking Tour in Casco Viejo, Panama Canal Museum & Lunch : $77
- "Bridge of the Americas Stand-Up Paddle Private 2 hours Tour " : $100
- 1- or 2-Night Experience in San Blas Islands: $260
- 2 Hours Private Luxury Tour in a Convertible Car in Panama City: $255
- 2 Hours Tour to Panama La Vieja for Groups: $170
- 2 Hr Express Tour for Business Travellers & Airport Layovers: $75
- 2-Day San Blas Adventure from Panama City: $270
- 3 Hours Private Photo Tour in Casco Antiguo: $90
- 3-Hour Private Tour in Panama La Vieja: $45
- 5 Hours Tour to Monkey Island Embera community Gamboa Panama: $165
- 5-Hour Tour in Agua Clara New Locks: $100
Alcohol
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Alcohol Drinks for one dayCancun $13Panama City $18
Sample the Local Flavors in Cancun
Also in Cancun, these are the prices for nightlife and alcohol related activities from various tour providers:
- Social Pub Crawl in Cancun: $38
- Brewery Tour / Craft Beer Tasting Cancun Mexico: $116
When we compare the travel costs of actual travelers between Cancun and Panama City, we can see that Cancun is more expensive. And not only is Panama City much less expensive, but it is actually a significantly cheaper destination. Since Cancun is in North 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 Panama City would let you spend less money overall. Or, you could decide to spend more money in Panama City 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 Cancun would naturally cost you much more money, so you would probably want to keep your budget a little tighter in Cancun than you might in Panama City.
If you're trying to decide if either of these two destinations are within your price range, also see Is Cancun Expensive? and Is Panama City Expensive?.
Which is Bigger, Cancun or Panama City?
Cancun has a larger population, and is about 33% larger than the population of Panama City. When comparing the sizes of Cancun 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.