Which place is cheaper, Panama City or Istanbul?
These are the overall average travel costs for the two destinations.
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Should you visit Istanbul or Panama City?
Which is cheaper to visit? Which is more expensive for vacation?
If you're trying to decide where to visit between Istanbul 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: Istanbul or Panama City?
Istanbul
Istanbul is strategically located on the Bosphorus and is split between Europe and Asia. It truly is a city where east meets west. Istanbul is the cultural and financial hub of Turkey, and also the most populous city. The sites are countless and there's something for everybody, whether you're interested in art, music, food, or adventure. You can pass many days exploring both the residential and commercial pockets of this city. Much of the appeal is hidden away along back alleys or within corner shops.
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 Turkey, Tours for Outdoor and Nature Lovers in Turkey, 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 dayIstanbul $126Panama City $86
The average daily cost (per person) in Istanbul is $126, 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 Istanbul and Panama City in more detail.
Accommodation
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Accommodation Hotel or hostel for one personIstanbul $47Panama City $35
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Accommodation Typical double-occupancy roomIstanbul $94Panama City $70
Compare Hotels in Istanbul and Panama City
Looking for a hotel in Istanbul 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: Istanbul Hotel Prices and Panama City Hotel Prices.
Local Transportation
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Local Transportation Taxis, local buses, subway, etc.Istanbul $55Panama City $11
Typical Local Transportation Prices in Istanbul
Some typical examples of transportation costs in Istanbul are as follows:
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Ferry$0.09
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Local Bus$0.09
Hired Cars and Shuttles in Istanbul
Some specific examples of transportation prices in Istanbul:
- Private Bosphorus Tour on Luxury Yacht w/transfer: $753
- From 2-Day Cappadocia Trip w/ Flight and Transfers: $469
- From Pamukkale Day Tour With Flights and Transfers: $323
- Private Full Day Walking Tour in Istanbul with Transfer: $294
- Hagia Sophia, Topkapi & Mosque Tour with Transfer: $286
- Private Guided Istanbul Luxury Tour (Tickets and Transfers): $283
- Troy and Gallipoli Day Guided Tour with Transfer: $280
- 3-Day Tours & Transfer Package: $226
- Istanbul Dolmabahçe Palace Private Tour with Transfers: $225
- Istanbul Airport Transfer: New Airport IST to Istanbul in Luxury Car: $224
- Istanbul Airport Transfer: Sabiha Airport SAW to Istanbul in Luxury Car: $224
- Istanbul Airport Transfer: Istanbul to Sabiha Airport SAW in Luxury Car: $224
Hired Cars and Shuttles in Panama City
Also for Panama City, here are a few examples of actual transportation services:
- Transfer in private vehicle from Panama City - Panama Tocumen Airport (PTY): $15
- Transfer in private vehicle from Panama Tocumen Airport (PTY)- Panama City: $15
- Private transfer from Panama Tocumen Airport (PTY)- Panama City: $15
- Private transfer from airport to hotels in Panama City: $15
- Panama City Private Arrival Transfer: $17
- Private Transfer Tocumen Airport to Panama City or Beach: $20
- Transfer from Panama City Hotel to Tocumen Airport: $23
- Transfer from Downtown Panama City to PTY Airport: $24
- Transfer Tocumen Airport to Panama City Hotels.: $25
- Airport TRANSFER 1 way Tocumen Howard BLB Albrook Rio Hato Colon: $28
- Panama Airport (PTY) to Panama city - Arrival Private Transfer: $28
- Private Transfer from Tocumen Airport to Playa Bonita: $30
Is it cheaper to fly into Istanbul or Panama City?
Prices for flights to both Panama City and Istanbul 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 dayIstanbul $31Panama City $21
Typical Food Prices in Istanbul
Some typical examples of dining costs in Istanbul are as follows:
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Juice$0.06
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Turkish Delight$0.02
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Dessert$0.26
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Pastries$0.05
Food Tours and Cooking Classes in Istanbul
Also, here are some specific examples of food and dining related activities in Istanbul.
- Bosphorus Dinner Cruise with Turkish Night Show from Istanbul: $16
- Istanbul Bosphorus Dinner Cruise Turkish Night Show All inclusive: $16
- Dinner Cruise and Entertainment with Private Table: $17
- Bosphorus Dinner Cruise Tour With Turkish Night Show: $21
- Bosphorus Dinner Cruise , Unlimited Drinks, & Show: $22
- Bosphorus Luxury Catamaran Cruise with Dinner Show: $25
- Bosphorus Dinner Cruise and Turkish Night Show: $26
- Istanbul Bosphorus Cruise with All inclusive Dinner and Belly-Dancer Show : $27
- Bosphorus Boat Cruise with Dinner & Entertainment: $27
- Istanbul Bosphorus Dinner Cruise with Unlimited Drinks and Shows: $28
- Dinner Cruise Bosphorus with Hotel Transfer: $28
- 3 Hour Ottoman Dinner Cruise in Istanbul : $29
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 Dinner and Folkloric Show Ticket with Pickup: $60
- Panama Evening Food Tour: $60
- Panama City FOOD Tour: $65
- Night Out Experience (360 Panoramic Views + Dinner Show): $80
- 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.Istanbul $79Panama City $66
Typical Entertainment Prices in Istanbul
Some typical examples of activities, tours, and entrance ticket prices in Istanbul are as follows:
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Bosphurus Boat (for 2)$0.62
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Yerebatan Cistern for Two$0.62
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Museum of Turkish and Islamic Arts for Two$0.31
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Hagia Sofia entrance$0.93
Tours and Activities in Istanbul
Some specific costs of activities, tours, and entrance tickets for Istanbul are as follows:
- 2 Hours Ultimate Kebab Experience in Galata, Istanbul: $160
- 4 Hours Private Highlights Tour Of Istanbul: $273
- All in One Day Istanbul - Historical Tour of Istanbul with Bosphorus Cruise: $164
- Bosphorus Cruise And Asia Minor Tour: $220
- Dolmabace Palace, Bosphorus Boat Tour , Eyüp Sultan Mosque Tour: $150
- Highlights of Cappadocia with Mehmet ( Private Tour ): $95
- Istanbul Half Day City Tour (Ottoman Relics): $55
- City Highlights Tour w/Hagia Sophia & Blue Mosque: $35
- Must - See Istanbul Stops 1: Half Day Morning Tour: $139
- 1 Day Private Istanbul Guided Tour: $75
- 1,2 or 3 DAY: Private Guided Istanbul Tour from CRUISE SHIP or HOTEL: $75
- 1-Day Best of Istanbul Private Tour with the Best Local Guides: $250
Tours and Activities in Panama City
Also, here are some specific examples of entertainment, tickets, and activities for Panama City.
- Bar tour in El Cangrejo with Bar Hopping Panama: $20
- Walking Tour Metropolitan Park Panama City : $25
- POIN Swing Experience: $27
- Poin Glass Observation Deck Ticket with VR Tour: $27
- POIN The Edge Experience: $27
- Panama: Highlights Bike Tour in Casco Viejo & Cinta Costera: $28
- Get to know the city aboard CitySightseeing Panama: $30
- City Sightseeing Hop-On Hop-Off Bus Tour: $30
- Sunset Walking Tour at Casco Viejo El Chorrillo and the fish market: $30
- walking tour in Casco Antiguo !: $30
- Bike tour in Panama City and Old Quarter with local guided: $31
- Bike tour in Panama City and Old City with locals: $31
Alcohol
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Alcohol Drinks for one dayIstanbul $15Panama City $18
Sample the Local Flavors in Istanbul
Some specific costs for nightlife related activities in Istanbul:
- Istanbul 7-Hour Pub Crawl: Big Night Out: $27
- Party Pub Crawl with Party Bus: $29
- Wine Tasting Experience in Istanbul : $50
- Istanbul Wine Tasting at Home with Local Family: $84
- 2-Day Wine Tasting Tour along the Thracian Wine Route: $180
- Istanbul Private Wine Tasting Tour Through 3 City Wineries : $246
- Istanbul Private and Guided, Food and Wine Tasting Tour: $430
- Luxury Wine Tasting on a Private Yacht: $849
When we compare the travel costs of actual travelers between Istanbul and Panama City, we can see that Istanbul is more expensive. And not only is Panama City much less expensive, but it is actually a significantly cheaper destination. Since Istanbul 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 Istanbul would naturally cost you much more money, so you would probably want to keep your budget a little tighter in Istanbul 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 Istanbul Expensive? and Is Panama City Expensive?.
Which is Bigger, Istanbul or Panama City?
Istanbul has a larger population, and is about 30 times larger than the population of Panama City. When comparing the sizes of Istanbul 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.