Which place is cheaper, Panama City or Grand Cayman?
These are the overall average travel costs for the two destinations. These travel costs come from the actual spending of real travelers.
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Should you visit Grand Cayman 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 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.
Where Should I go: Grand Cayman or Panama City?
Grand Cayman
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
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 Budget Tours to Panama, and The Best One-Week (7-Day) Tours from Panama City.
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Grand Cayman Prices
Cayman Islands PricesPanama City Prices
Panama Prices -
Average Daily Cost Per person, per dayGrand Cayman $243Panama City $102
The average daily cost (per person) in Grand Cayman is $243, while the average daily cost in Panama City is $102. 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.
Accommodation
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Accommodation Hotel or hostel for one personGrand Cayman $150Panama City $35
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Accommodation Typical double-occupancy roomGrand Cayman $300Panama City $70
Compare Hotels in Grand Cayman and Panama City
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.
Our Analysis
We've analyzed the average and typical hotel prices based on guest reviews, star ratings, and hotel amenities here: Grand Cayman Hotel Prices and Panama City Hotel Prices.
Local Transportation
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Local Transportation Taxis, local buses, subway, etc.Grand Cayman $31Panama City $11
Hired Cars and Shuttles in Grand Cayman
Also for Grand Cayman, here are a few examples of actual transportation services:
- Airport Transfers to East End Accommodations (GCM) - Round Trip: $239
- Owen Roberts Airport GCM to George Town-Arrival Private Transfer: $150
- Owen Roberts Airport (GCM) to George Town Cruise Port - Arrival Private Transfer: $150
- Airport Transfer to West Bay Accommodations (GCM)-Round Trip: $88
- Airport Transfer - Owen Roberts Intl Airport to GeorgeTown or Seven Mile Beach: $80
Hired Cars and Shuttles in Panama City
Also for Panama City, here are a few examples of actual transportation services:
- VIP Transfer Panama: Playa Bonita, Panama City & Pacific Riviera: $20
- Travel in Comfort Airport Transfer Pty: $30
- Transfers to Riu Playa Blanca, The Buenaventura Golf, Rio hato: $45
- Transfers from PTY Airport to Playa Bonita or Gamboa and Back: $27
- Transfer to Panama City, Hotel and City tour - 1 night: $266
- Transfer from Tocumen Airport to Playa Blanca Hotels: $85
- Transfer from Playa Bonita or Gamboa to PTY Airport: $35
- Transfer from PTY/Panama City to Cruise Terminal or Back: $32
- Transfer Tocumen International Airport - Playa Blanca, Rio Hato, Buena Ventura: $75
- Transfer Tocumen Airport to Hotel Westin or Dreams Playa Bonita: $55
- Transfer Tocumen Airport (PTY) to Playa Bonita (Westin and Dreams): $38
- Transfer Panama City to Columbus Cruise Port: $50
Is it cheaper to fly into Grand Cayman or Panama City?
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.
Food
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Food Meals for one dayGrand Cayman $68Panama City $36
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:
- Panamanian Ravioli Masterclass + Dinner in Panama City center: $55
- Panama City FOOD Tour: $65
- 3.5 -hour Afropanamanian Cooking Experience in Panama: $70
- Street Food Tour Panama City (25+ tastings) By Paradox Experience: $95
- 4h Cooking Class in 10 Recipes & Bottomless Drinks: $95
Entertainment
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Entertainment Entrance tickets, shows, etc.Grand Cayman $41Panama City $66
Tours and Activities in Grand Cayman
For Grand Cayman, here are a few prices for actual activities, tours, and tickets provided by various companies:
- 2-stop Adventure: Stingray City and snorkeling at Cayman Reefs: $109
- 3 Stop Boat Tour Stingray City Coral Gardens and Starfish Point: $65
- 3-Stop Stingray City, Reef Snorkel & Starfish Point Tour: $79
- 4 Stops Tour: Stingray, Snorkeling, Starfish & 7 Mile Beach: $60
- Bioluminescent Bay Adventure in Grand Cayman: $139
- Bling and Beverages Cayman Jewelry Shopping Experience: $22
- Cayman 3 in 1 Combo Adventure Stingray City Reef Snorkeling: $115
- Cayman Adventure: Starfish Point, Stingray City and Coral Gardens: $119
- Cayman Best Stingray City Reef Snorkel and Starfish Point Tour: $63
- Cayman Combo Tour: Starfish Point, Stingray City & Coral Gardens: $119
- Cayman Crystal Caves Tour in Grand Cayman: $143
- Cayman Ultimate Tour: Stingray City, Snorkeling & Beach Lunch: $189
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
- 2 Days 1 Night San Blas Adventure in Pamana: $260
- 2 Days Island Hopping Adventure San Blas Islands - Private Cabin: $265
- 2-Day San Blas Adventure from Panama City with WiFi: $260
- 3 1/2 Hour Experience of Lake Gatun in Panama: $95
- 3 Hours Private Walking Tour in Casco Antiguo Panama City: $45
- 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 hours Whale Watching Experience from Panama City: $100
Alcohol
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Alcohol Drinks for one dayGrand Cayman $13Panama City $18
Typical Alcohol Prices in Grand Cayman
Below are a few samples from actual travelers for alcohol and nightlife costs in Grand Cayman:
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Beer$4.97
Sample the Local Flavors in Grand Cayman
Here are a few nightlife and alcohol tours and activities from local tour providers in Grand Cayman:
- Cayman Spirits Co. Distillery Tour Pass Ticket Only: $24
- Taste of Cayman Distillery Experience: $75
- Distillery Tour with Gin Tasting: $75
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?.
Which is Bigger, Grand Cayman or Panama City?
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.
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.