Which place is cheaper, Panama City or Grand Cayman?
These are the overall average travel costs for the two destinations.
Which city should you visit? Read on to compare the activities as well as the prices of travel for Grand Cayman 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.
When people think of the Cayman Islands, they typically think of offshore bank accounts and sunny, cruise ship ports. Grand Cayman has more to offer travelers than a playground for the wealthy or a short stopover for cruise passengers. This tropical island is the largest of the three Cayman Islands, it is a shopper's heaven, a center for global finance and an ideal vacation spot.
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 from Panama City, and The Best Adventure Tours to Panama.
These are the overall average travel costs for the two destinations.
The average daily cost (per person) in Grand Cayman is $214, 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 Grand Cayman and Panama City in more detail.
Looking for a hotel in Grand Cayman 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.
Also for Grand Cayman, here are a few examples of actual transportation services:
Also for Panama City, here are a few examples of actual transportation services:
Prices for flights to both Panama City and Grand Cayman 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.
Here are some examples of typical meal expenses from previous travelers to Panama City:
For Panama City, here are some samples of tours and activities related to meals and dining experiences:
For Grand Cayman, here are a few prices for actual activities, tours, and tickets provided by various companies:
Also, here are some specific examples of entertainment, tickets, and activities for Panama City.
Below are a few samples from actual travelers for alcohol and nightlife costs in Grand Cayman:
Here are a few nightlife and alcohol tours and activities from local tour providers in Grand Cayman:
When we compare the travel costs of actual travelers between Grand Cayman and Panama City, we can see that Grand Cayman is more expensive. And not only is Panama City much less expensive, but it is actually a significantly cheaper destination. Since Grand Cayman is in Caribbean Islands 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 Grand Cayman would naturally cost you much more money, so you would probably want to keep your budget a little tighter in Grand Cayman 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 Grand Cayman Expensive? and Is Panama City Expensive?.
Panama City has a larger population, and is about 10 times larger than the population of Grand Cayman. When comparing the sizes of Grand Cayman 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.