Which place is cheaper, Panama City or Izmir?
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 Izmir 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 Izmir 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: Izmir or Panama City?
Izmir
Izmir is a metropolitan city of Turkey and the second most populous city on the Aegean Sea after Athens, Greece. Known as Smyrna in antiquity, it was founded by the Greeks, taken over by the Romans, and rebuilt by Alexander the Great before becoming part of the Ottoman Empire in the 15th century. Most remnants of this past are gone; however, there are a few archaeological sites in addition to beaches, bustling city streets, and colorful markets.
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 G Adventures Tours to Turkey, The Best 3-Day Tours from Istanbul, The Best Budget Tours to Panama, and The Best One-Week (7-Day) Tours from Panama City.
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Izmir Prices
Turkey PricesPanama City Prices
Panama Prices -
Average Daily Cost Per person, per dayIzmir $80Panama City $101
The average daily cost (per person) in Izmir is $80, 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 Izmir and Panama City in more detail.
Accommodation
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Accommodation Hotel or hostel for one personIzmir $39Panama City $35
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Accommodation Typical double-occupancy roomIzmir $78Panama City $70
Compare Hotels in Izmir and Panama City
Looking for a hotel in Izmir 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: Izmir Hotel Prices and Panama City Hotel Prices.
Local Transportation
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Local Transportation Taxis, local buses, subway, etc.Izmir $19Panama City $11
Hired Cars and Shuttles in Izmir
Some specific examples of transportation prices in Izmir:
- Private Transfer from Izmir Airport to Bergama: $273
- Fethiye-Oludeniz Hotels to Antalya Airport AYT Transfers: $239
- Antalya Airport AYT Transfers to Fethiye-Oludeniz Hotels: $239
- Izmir Airport ADB Transfers to Bozbuk Bay (Akbuk) Hotels: $222
- Izmir Airport ADB Transfers to Akbuk Hotels: $205
- Izmir Airport ADB Transfers to Yalikoy (Didim) Hotels: $199
- Izmir Airport (ADB) to Çeşme, Alaçatı Round-Trip Private Transfer: $171
- Luxury Private Izmir Airport Transfer Service: $160
- Izmir Airport to Didim Hotels – Private Airport Transfer: $159
- Bodrum Akyaka Hotels to Bodrum Airport BJV Transfers: $154
- Private Transfer From Izmir Airport to Kusadasi: $154
- Private Transfer from Izmir Airport to Selcuk: $137
Hired Cars and Shuttles in Panama City
Also for Panama City, here are a few examples of actual transportation services:
- Airport To City Hotel transfer: $50
- Arrival Private Transfer Panama PTY Airport to Playa Bonita: $84
- Arrival Private Transfer Panama PTY Airport to Playa Bonita: $75
- Panama Airport (PTY) to Coronado/Gorgona - Round-Trip Transfer: $203
- Panama Airport (PTY) to Decameron - Round-Trip Private Transfer: $203
- Panama Airport (PTY) to Panama city - Arrival Private Transfer: $23
- Panama Airport (PTY) to Playa Blanca Round-Trip Private Transfer: $153
- Panama Airport (PTY) to Playa Bonita/Gamboa - Round-Trip Transfer: $64
- Panama City Private Departure Transfer: $42
- Panama One Way Transfer: Van from Tocumen Airport to Panama City: $83
- Panama Private Airport/Port/Hotel Transfer Service: $28
- Panama Tocumen Airport (PTY) to Colón - Arrival Private Transfer: $74
Is it cheaper to fly into Izmir or Panama City?
Prices for flights to both Panama City and Izmir 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 dayIzmir $27Panama City $36
Food Tours and Cooking Classes in Izmir
Also, here are some specific examples of food and dining related activities in Izmir.
- Authentic Dinner Cooking with a Local Family in İzmir: $115
- Private Food tour in Europe and Asian Side of Istanbul: $285
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$8.26
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
- 3.5 -hour Afropanamanian Cooking Experience in Panama: $70
- Panamanian Dinner and Folkloric Show - All Inclusive Experience: $70
- E-Tickets Emotions Dinner Live Show Admission: $75
- Street Food Tour Panama City (25+ tastings) By Paradox Experience: $95
- 4-Hour Guided Panamanian Cooking Class and Markets Experience: $95
- 4h Cooking Class in 10 Recipes & Bottomless Drinks: $95
- Embera Village Cooking Class Experience in Chagres National Park: $125
Entertainment
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Entertainment Entrance tickets, shows, etc.Izmir $13Panama City $66
Tours and Activities in Izmir
Here are a few actual costs in Izmir for available activities, ticket prices, and tours:
- "Izmir to Ephesus: Private Highlights Tour with Fast-Track Entry": $176
- Alaçatı & Çeşme Chill Tour: Vibes, Streets & Snapshots: $120
- Alacati and Cesme Private Tour from Izmir: $154
- BEST SELLER Small Group Ephesus Tour from Izmir: $113
- Best of Private Walking Tour with a Local: $30
- Budget-Friendly Ephesus Tour from Izmir: $40
- Cesme-Alacati Tour from Izmir: $285
- Customized Ephesus Private Tour / FOR CRUISE GUESTS ONLY: $170
- Customized Ephesus Tour with Lunch: $142
- Daily Ephesus & Virgin Mary House Tour from Izmir: $154
- Dalyan Boat Tour with Mud Bath & Iztuzu Beach from Sarigerme: $80
- Ephesus Ancient City Tour from Izmir Explore Historic Landmarks: $160
Tours and Activities in Panama City
Also, here are some specific examples of entertainment, tickets, and activities for Panama City.
- BEC Immersive Museum: Panama Through Your Senses Admission Ticket: $15
- Archaeological Site. Admission ticket to Panama La Vieja: $15
- Private Historic Tour of the Old Town: $15
- Panama Old Town Tour: Learn about our History and Culture: $22
- Sunset Bike Tour/ Cinta Costera Casco Viejo by Paradox Experience: $22
- Spanish Experience in Panama City: $25
- Casco Viejo Walking Tour: History, Culture & Local Tasting: $25
- Museum of Illusions Panama Admission Ticket: $26
- Panama City Must-see Attractions Walking Tour with a Guide: $26
- City Sightseeing Panama City Hop-On Hop-Off Bus Tour: $30
- Panama City Walking Tour: Explore Top Sights & Hidden Gems: $30
- Get to know the city on board CitySightseeing Panama (24 Hours): $30
Alcohol
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Alcohol Drinks for one dayIzmir $5.77Panama City $18
Sample the Local Flavors in Izmir
Some specific costs for nightlife related activities in Izmir:
- From Izmir Port: Ephesus Tour with Lunch & Wine Tasting: $113
- Wine Tour with Metropolis Ancient City: $120
When we compare the travel costs of actual travelers between Izmir and Panama City, we can see that Panama City is more expensive. And not only is Izmir much less expensive, but it is actually a significantly cheaper destination. Since Izmir 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 Izmir would let you spend less money overall. Or, you could decide to spend more money in Izmir 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 Panama City would naturally cost you much more money, so you would probably want to keep your budget a little tighter in Panama City than you might in Izmir.
If you're trying to decide if either of these two destinations are within your price range, also see Is Izmir Expensive? and Is Panama City Expensive?.
Which is Bigger, Izmir or Panama City?
Izmir has a larger population, and is about 6 times larger than the population of Panama City. When comparing the sizes of Izmir 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.