Which place is cheaper, Panama City or Faro?
These are the overall average travel costs for the two destinations. These travel costs come from the actual spending of real travelers.
Jump to 
Should you visit Faro or Panama City?
Which is cheaper to visit? Which is more expensive for vacation?
If you're trying to decide where to visit between Faro or Panama City, this travel comparison, which includes costs, can help. The overall cost of travel is usually a consideration when deciding where to go next, and the cost comparison down below can help you decide based on the average prices from other travelers along with your own travel budget.
Where Should I go: Faro or Panama City?
Faro
Faro (or sometimes Faros) is the capital city of the scenic Algarve Region of Portugal, located at the edge of the Ria Formosa National Park. This is a fantastic place to experience the beauty, culture, and traditions of Portugal in laid back atmosphere, away from the hustle and bustle of the larger cities. Faro offers everything from ancient architecture to beautiful beaches all while being surrounded by the natural beauty of the Algarve Region.
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 2-Week Tours in Portugal, The Best Hiking & Trekking Tours in Portugal, The Best Budget Tours to Panama, and The Best One-Week (7-Day) Tours from Panama City.
-
Faro Prices
Portugal PricesPanama City Prices
Panama Prices -
Average Daily Cost Per person, per dayFaro €160Panama City €89
The average daily cost (per person) in Faro is €160, while the average daily cost in Panama City is €89. 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 Faro and Panama City in more detail.
Accommodation
-
Accommodation Hotel or hostel for one personFaro €75Panama City €31
-
Accommodation Typical double-occupancy roomFaro €150Panama City €62
Compare Hotels in Faro and Panama City
Looking for a hotel in Faro 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: Faro Hotel Prices and Panama City Hotel Prices.
Local Transportation
-
Local Transportation Taxis, local buses, subway, etc.Faro €9.52Panama City €9.37
Hired Cars and Shuttles in Faro
Also for Faro, here are a few examples of actual transportation services:
- Transfer From Tavira Algarve To Lisbon: $297
- Transfer From Faro Algarve To Lisbon: $285
- Private transfers between Faro and Aljustrel: $263
- Private Transfer from Faro Airport to Lisbon: $257
- Private transfer: Faro to Seville: $251
- Private transfers between Faro and Almonte: $217
- Algarve to Lisbon Private Transfer Up to 4 Stops: $206
- Private transfers between Faro and Aljezur: $183
- Private transfers between Faro and Bordeira: $183
- Private transfers between Faro and Huelva: $183
- Private Transfer from Faro (FAO) Airport to Vila do Bispo: $181
- Private Transfer from Faro (FAO) Airport to Islantilla: $169
Hired Cars and Shuttles in Panama City
Also for Panama City, here are a few examples of actual transportation services:
- Panama 2 days / 1 night : hotel, transfers and city tour: $278
- San Blas Day Trip (Transfers & Lunch included): $175
- Private Transfer from Panama City Airport to Beach Resorts: $175
- Transfer from Tocumen Airport to Colon Cruise Port: $160
- Panama Airport (PTY) to Playa Blanca Round-Trip Private Transfer: $153
- Private Transfer from Panama Tocumen Airport (PTY) to Colón resorts: $143
- Private Transfer from Panama Airport (PTY) to Colón Resorts: $143
- Panama Tocumen Airport PTY to Coronado/Gorgona - Arrival Transfer: $102
- Private Transfer Tocumen Airport - Linton Bay Marina: $90
- Transfer Colon Cruise Port - Panama Airport: $90
- Arrival Private Transfer Panama PTY Airport to Playa Bonita: $84
- Panama One Way Transfer: Van from Tocumen Airport to Panama City: $83
Is it cheaper to fly into Faro or Panama City?
Prices for flights to both Panama City and Faro 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
-
Food Meals for one dayFaro €62Panama City €32
Food Tours and Cooking Classes in Faro
For Faro, here are some samples of tours and activities related to meals and dining experiences:
- Olhão Fish Market & Food Tour: $107
- 3 Hours Classic Food Tour in Faro: $112
- Faro Food Tour & Drinks and City highlights 10 Tastings: $126
- Faro Cataplana Cooking Class: from kitchen to the table: $131
- Faro Market Tour & Cataplana Cooking Class with Professional Chef: $153
Typical Food Prices in Panama City
Here are some examples of typical meal expenses from previous travelers to Panama City:
-
Sandwich€7.24
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:
- 3.5 -hour Afropanamanian Cooking Experience in Panama: $70
- Panamanian Dinner and Folkloric Show - All Inclusive Experience: $70
- Panama City by Night: Rooftop Skyline, Dinner & Folklore Show: $85
- 4-Hour Guided Panamanian Cooking Class and Markets Experience: $95
- Embera Village Cooking Class Experience in Chagres National Park: $125
- The Real Panamanian Private Food Tour through Panama City: $245
Entertainment
-
Entertainment Entrance tickets, shows, etc.Faro €9.41Panama City €58
Tours and Activities in Faro
Also, here are some specific examples of entertainment, tickets, and activities for Faro.
- 2 Hours Boat Tour in Ria Formosa: $29
- 2 Hours Kayak Island Tour in the Natural Park of Ria Formosa: $74
- 3-Hour Boat Tour in Ria Formosa on Olhão Algarve: $40
- Adventure Tour Serra de Monchique: $97
- Algarve, Sagres & Lagos Coastal Landscapes Private Tour From Faro: $228
- Algarve: 4x4 Adventure, Flamingos, Salt Pans & Local Tasting: $79
- Benagil Cave Tour From Faro - Discover The Algarve Coast: $57
- Birdwatching in Ria Formosa - Eco Boat Tour from Faro: $46
- Boat Tour of 2 Ria Formosa Islands: Culatra and Armona: $40
- Boat Tour to Desert Island at The Ria Formosa: $51
- Buggy Safari Tour (3H): $228
- Camera Obscura - Tavira Eye - Admission Ticket: $6.85
Tours and Activities in Panama City
Also, here are some specific examples of entertainment, tickets, and activities for Panama City.
- "Bridge of the Americas Stand-Up Paddle Private 2 hours Tour ": $100
- 1- or 2-Night Experience in San Blas Islands: $260
- 1st Mysteries and FreeMasons Tour: $38
- 3 1/2 Hour Experience of Lake Gatun in Panama: $95
- 4-Hour Guided Tour of Panama Canal & Old Town & More: $150
- 4-hour tour in Panama: $105
- 5 Hours Private Panama City Tour: $200
- 5 hour tour in Panama City: $35
- 5-Hour Tour of Panama City, Panama from Tocumen Airport: $130
- 5-hour tour in Panama by a Local Guide: $39
- 5hour tour of Panama City and Panama Canal - Shared or Private: $65
- 5hrs Panama City and Canal Tour + Amenities: $65
Alcohol
-
Alcohol Drinks for one dayFaro €3.13Panama City €16
Sample the Local Flavors in Faro
Some specific costs for nightlife related activities in Faro:
- Tour & Wine tasting - Authentic Algarve Flavours by Quinta da Tôr: $23
- Tavira Tuk Tuk Tour: Historic Center & Wine Tasting: $96
- Algarve Portugal Wine Tasting Activity with Pick Up: $182
When we compare the travel costs of actual travelers between Faro and Panama City, we can see that Faro is more expensive. And not only is Panama City much less expensive, but it is actually a significantly cheaper destination. Since Faro is in Europe 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 Faro would naturally cost you much more money, so you would probably want to keep your budget a little tighter in Faro 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 Faro Expensive? and Is Panama City Expensive?.
Which is Bigger, Faro or Panama City?
Panama City has a larger population, and is about 10 times larger than the population of Faro. When comparing the sizes of Faro 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.