Which place is cheaper, Panama City or Mexico City?
These are the overall average travel costs for the two destinations.
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Should you visit Mexico City or Panama City?
Which is cheaper to visit? Which is more expensive for vacation?
Should I visit Mexico City or Panama City? This is a common question asked by many travelers. By figuring out which city has activities that align with your interests along with knowing which is more affordable, you'll understand where you can get more bang for your buck. So, let's dive into the details and the data, which all comes from actual travelers.
Where Should I go: Mexico City or Panama City?
Mexico City
Mexico City is one of the largest and most populated cities in the world. There are an estimated 26 million people living in the greater Mexico City metropolitan area. The area is about 60 kilometers by 40 kilometers and is surrounded by tall mountains and volcanoes on three sides. Mexico City proper has about 8.8 million people and is the capital of the country. More than a third of the country's economy is based here, making it the wealthiest city in all of Latin America.
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 Mexico, Tours for Outdoor and Nature Lovers in Mexico, 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 dayMexico City $214Panama City $86
The average daily cost (per person) in Mexico City 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 Mexico City and Panama City in more detail.
Accommodation
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Accommodation Hotel or hostel for one personMexico City $41Panama City $35
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Accommodation Typical double-occupancy roomMexico City $82Panama City $70
Compare Hotels in Mexico City and Panama City
Looking for a hotel in Mexico City 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: Mexico City Hotel Prices and Panama City Hotel Prices.
Local Transportation
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Local Transportation Taxis, local buses, subway, etc.Mexico City $13Panama City $11
Typical Local Transportation Prices in Mexico City
Here are some examples of typical transportation prices from actual travelers in Mexico City:
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Metro$1.20
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Uber Ride$4.21
Hired Cars and Shuttles in Mexico City
Also for Mexico City, here are a few examples of actual transportation services:
- Mexico City to San Luis Potosi - Private Transfer with Optional Sightseeing: $299
- Mexico City → San Miguel de Allende - Private Transfer with Optional Sightseeing: $288
- Mexico City International Airport to Mexico City - Private Round-trip Transfer: $254
- Mexico City Private Airport Transfers To or From Hotels: $250
- Transfer from Mexico City Airport to Puebla: $245
- Mexico City to Guanajuato - Private transfer, 2 Sightseeing hours, local driver: $237
- Mexico City Private Transfer to or from Airport: $196
- Roundtrip Transfer Private Minivan Mexico City Airport (MEX) - Mexico City: $187
- Mexico City to Puebla - Private Transfer with Optional Sightseeing: $153
- One-way transfer + City Tour: $143
- Mexico City Airport MEX Tecozautla Thermal Round-Trip Transfer: $142
- San Miguel De Allende City Tour with Transfer from Mexico City: $133
Hired Cars and Shuttles in Panama City
Also for Panama City, here are a few examples of actual transportation services:
- Transfers Airport - Hotels Riu Playa Blanca, Decameron, Bijao, Playa Blanca: $70
- Transfers: $37
- Transfer to Panama City, Hotel and City tour - 1 night: $266
- Transfer in private vehicle from Panama Tocumen Airport (PTY)- Panama City: $15
- Transfer in private vehicle from Panama City - Panama Tocumen Airport (PTY): $15
- Transfer in private minivan from Playa Bonita to Panama Tocumen Airport: $70
- Transfer in private minivan from Panama Tocumen Airport to Playa Bonita: $70
- Transfer in private minivan from Panama Tocumen Airport to Playa Blanca-Farallon: $160
- Transfer from Panama City Hotel to Tocumen Airport: $23
- Transfer from PTY Airport or Panama City to Playa Blanca and Back: $77
- Transfer Tocumen Airport to Panama City Hotels.: $25
- Transfer Panama Airport- Colon Cruise Terminal: $90
Is it cheaper to fly into Mexico City or Panama City?
Prices for flights to both Panama City and Mexico City 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 dayMexico City $27Panama City $21
Typical Food Prices in Mexico City
For Mexico City, here are some examples of average food and meal prices for travelers:
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Lunch for Two$13
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Coffee and Snacks$4.69
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Dinner for 2$27
Food Tours and Cooking Classes in Mexico City
For Mexico City, here are some samples of tours and activities related to meals and dining experiences:
- Traveling Spoon Mexican Tacos and Tortillas Private Online Cooking Class: $40
- Virtual Mexican Cooking Class (private and personalized): $50
- Veracruz and Boca del Rio Food Tour with Mangroves Boat Trip: $50
- Local Markets & Food Tour in Mexico City: $50
- Tortilla Crawl: Food Tour in Mexico City: $55
- Uruapan Food Tour: $60
- 3 Hours Food Tour Best Vegan Tacos in Mexico City: $66
- Muchos moles: Multi-variety mole cooking class and feast: $70
- Mexico City Vegan & Veggie Market Explorer plus Cooking Lesson: $72
- Street Food Tour with Friends: $75
- La Roma Authentic Downtown Food Tour: Tacos and Local Flavors: $78
- Food Tour with Ride an Electric Bike in Mexico: $80
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:
- Panama Evening Food Tour: $60
- 10-Recipe Boozy Panamanian Cooking Class : $85
- 4-Hour Guided Panamanian Cooking Class and Markets Experience: $85
- 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.Mexico City $15Panama City $66
Tours and Activities in Mexico City
For Mexico City, here are a few prices for actual activities, tours, and tickets provided by various companies:
- City Tour/español-ingles: $68
- Frida Kahlo Tour with Admission Tickets: $76
- Mixology, Food, Wine and Beer Experience in Xochimilco: $99
- Monarch Butterfly Tour from Mexico City: $220
- Romantic Walking tour in Mexico City: $150
- Romantic tour in San Andrés Mixquic: $150
- Teotihuacan Early Access tour with Tequila Tasting: $37
- The best of Mixquic walking tour: $150
- VIP - FULL DAY - Mexico City Private Tour : $180
- 2 Day tour Teotihuacan pyramids +City tour & Xochimilco : $132
- 2 Days Private Tour with Hiking in Malinche from Puebla: $207
- 2 Hours Private Tour with Electric Scooter in Mexico City: $78
Tours and Activities in Panama City
Also, here are some specific examples of entertainment, tickets, and activities for Panama City.
- City Tour y Canal de Panamá: $35
- #1 Walking Tour in Casco Viejo, Panama Canal Museum & Lunch : $77
- "Bridge of the Americas Stand-Up Paddle Private 2 hours Tour " : $100
- 1- or 2-Night Experience in San Blas Islands: $260
- 2 Hours Private Luxury Tour in a Convertible Car in Panama City: $255
- 2 Hours Tour to Panama La Vieja for Groups: $170
- 2 Hr Express Tour for Business Travellers & Airport Layovers: $75
- 2-Day San Blas Adventure from Panama City: $270
- 3 Hours Private Photo Tour in Casco Antiguo: $90
- 3-Hour Private Tour in Panama La Vieja: $45
- 5 Hours Tour to Monkey Island Embera community Gamboa Panama: $165
- 5-Hour Tour in Agua Clara New Locks: $100
Alcohol
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Alcohol Drinks for one dayMexico City $21Panama City $18
Sample the Local Flavors in Mexico City
Here are a few nightlife and alcohol tours and activities from local tour providers in Mexico City:
- Mexico City Pub Crawl: $27
- CDMX Pub Crawl: Mexico City Bar Crawl: $29
- Mexico City Bar Crawl: $39
- Best Bar Crawl at Downtown: $49
- Nightly Historic Center From Above© Rooftop Bar Crawl +Taco Snack: $129
- 2 Hours Private Mexican Wine Tasting in Polanco: $155
- Third Largest Monolith in the World:Bernal with wine tasting: $235
- Cavas Freixenet Wine Tour from Mexico City: $255
When we compare the travel costs of actual travelers between Mexico City and Panama City, we can see that Mexico City is more expensive. And not only is Panama City much less expensive, but it is actually a significantly cheaper destination. Since Mexico City is in North America 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 Mexico City would naturally cost you much more money, so you would probably want to keep your budget a little tighter in Mexico City 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 Mexico City Expensive? and Is Panama City Expensive?.
Which is Bigger, Mexico City or Panama City?
Mexico City has a larger population, and is about 30 times larger than the population of Panama City. When comparing the sizes of Mexico City 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.