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 One-Week (7-Day) Tours from Panama City, and The Best 2-Week 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 $242Panama City $101
The average daily cost (per person) in Grand Cayman is $242, while the average daily cost in Panama City is $101. 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 $149Panama City $35
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Accommodation Typical double-occupancy roomGrand Cayman $298Panama 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:
- Private Transfer from Airport to morritts: $180
- Privat Transfer from Owen Roberts Airport GCM to George Town Port: $103
Hired Cars and Shuttles in Panama City
Also for Panama City, here are a few examples of actual transportation services:
- Travel in Comfort Airport Transfer Pty : $12
- Transfers from PTY Airport to Playa Bonita or Gamboa and Back: $20
- Transfers from Airport to Panama City: $40
- Transfer from Tocumen Airport to hotels in Gamboa or Viceversa: $30
- Transfer from Tocumen Airport to Panama City Hotels : $25
- Transfer from Tocumen Airport to Colon Cruise Port: $160
- Transfer from Playa Bonita or Gamboa to PTY Airport: $35
- Transfer from Panama City Hotel to Tocumen Airport: $23
- Transfer from Panama Airport to Colon Cruise Terminal: $110
- Transfer from PTY/Panama City to Cruise Terminal or to the Marina: $32
- Transfer Tocumen International Airport - Playa Blanca, Rio Hato, Buena Ventura: $75
- Transfer Panama City to Amador Cruise Port : $30
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 $67Panama 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$8.24
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:
- Panamanian Dinner and Folkloric Show Ticket with Pickup: $60
- Panama Evening Food Tour: $60
- Panama City FOOD Tour: $65
- E-Tickets Emotions Dinner Theater Live Show Admission: $75
- Street Food Tour with 24 Tastings: $75
- Cooking Class in Panama City with 10 Recipes & Bottomless Drinks: $95
- 4-Hour Guided Panamanian Cooking Class and Markets Experience: $95
- Panama: 10-Recipe Boozy Panamanian Cooking Class + Dinner: $95
- Folkloric Dance & Typical Dinner at Sabroso Panamá: $110
- The Real Panamanian Private Food Tour through Panama City: $205
- Street Food Tour in Panama with a Local Guide: $263
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:
- StingrayCity ,Coral Garden & Starfish Tour. : $69
- 2-stop Adventure: Stingray City and snorkeling at Cayman Reefs: $79
- 3 Stop Boat Tour Stingray City Coral Gardens and Starfish Point: $65
- 3-stop Adventure: Stingray City and snorkeling at Cayman Reefs: $107
- Acquarius Stingray City and Snorkel Tours: $79
- Cayman 2 in 1 Combo Tour Stingray City Reef Snorkel Adventure: $77
- Cayman 3 in 1 Combo Adventure Stingray City Reef Snorkeling: $104
- Cayman Adventure Stingrays Starfish plus Crystal Caves : $89
- Cayman Bioluminescent Bay Night Tour: $144
- 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: $168
Tours and Activities in Panama City
Also, here are some specific examples of entertainment, tickets, and activities for Panama City.
- Gatun Lake Panamá Wildlife Adventure Guided Experience: $159
- Horseback riding and Agri-Tour in Colon Private tour: $75
- Panama City Tour and Panama Canal – Miraflores Locks Experience: $30
- Panama Viejo and Casco Antiguo Tour: $115
- Panama a quick and memorable tour: $68
- San Blas Islands, 4-Island Tour All-Inclusive Welcome Cocktail: $149
- #1 Walking Tour of Casco Viejo Panama with Lunch included : $70
- “Bike Tour Casco Viejo and Panama City Discover the Essence: $40
- “Panama at Your Rhythm: Private Tour with Canal, Old Town and More”: $67
- "Bridge of the Americas Stand-Up Paddle Private 2 hours Tour " : $100
- 1st Mysteries and FreeMasons Tour: $38
- 2 Days 1 Night San Blas Adventure in Pamana: $260
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$4.95
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
- Cayman Art and Wine Tour: $150
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.