Which place is cheaper, Panama City or Mexico City?
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 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 Budget Tours to Panama, and The Best One-Week (7-Day) Tours from Panama City.
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Mexico City Prices
Mexico PricesPanama City Prices
Panama Prices -
Average Daily Cost Per person, per dayMexico City $209Panama City $101
The average daily cost (per person) in Mexico City is $209, 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 Mexico City and Panama City in more detail.
Accommodation
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Accommodation Hotel or hostel for one personMexico City $38Panama City $35
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Accommodation Typical double-occupancy roomMexico City $76Panama 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 $12Panama 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$1.07
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Uber Ride$3.75
Hired Cars and Shuttles in Mexico City
Also for Mexico City, here are a few examples of actual transportation services:
- Teotihuacan: Private Balloon Flight with optional Transfer: $1,436
- Monarch Butterfly Sanctuary Visit with Transfer: $842
- Shared Balloon Flight in Teotihuacan with transfer: $293
- Luxury Executive Transfers in Mexico City: $273
- Mexico Airport (MEX) Tecozautla - Round-Trip Private Transfer: $239
- Balloon Flight over Teotihuacán with Transfers Included: $228
- Transfer from Airport to Hotel: $220
- Private Airport Transfer to Hotel de CDMX (8 to 11 people): $219
- Luxury Airport Transfer: $209
- Mexico City Private Transfer to or from Airport: $205
- Airport Transfer: Mexico Airport NLU to Mexico by Luxury SUV: $203
- Private Transfer from the Airport to your Hotel in CDMX: $197
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
- VIP Private Transfer: Tocumen Airport (PTY) to Panama City Hotels: $44
- Travel in Comfort Airport Transfer Pty: $30
- Transfers to Riu Playa Blanca, The Buenaventura Golf, Rio hato: $45
- Transfers: $37
- Transfer from Tocumen Airport to Colon Cruise Port: $160
- Transfer from Playa Bonita or Gamboa to PTY Airport: $35
- Transfer from PTY/Panama City to Cruise Terminal or Back: $35
- Transfer Tocumen International Airport - Playa Blanca, Rio Hato, Buena Ventura: $75
- Transfer Panama City to Amador Cruise Port: $35
- Transfer Airport or Hotel To Playa Venao Panama or vice versa: $260
- San Blas Day Trip (Transfers & Lunch included): $175
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 $42Panama City $36
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$12
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Coffee and Snacks$4.18
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Dinner for 2$24
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:
- Mexico City Coyoacan Food Tour & Optional Frida Kahlo Museum: $20
- Cable Car, Cultural Spaces, and Traditional Food Tour: $40
- Mexico : Best Street Food Tour With A Local Guide: $58
- Street Food Tour in Mexico with a Local Guide: $59
- 3h Cooking Class in 8 Recipes & Drinks: $68
- Coyoacán Cultural and Food Tour with Frida Kahlo Museum Admission: $69
- Street Food Tour with Michelin-Starred Taco: $70
- Roma–Condesa: Haute Cuisine and Renowned Restaurants Food Tour: $70
- 4h Cooking Class in 9 Recipes & Bottomless Drinks: $75
- Roma Norte Authentic Food Tour: Tacos and Local Flavors: $78
- MEXICO CITY FOOD TOUR: flavors on two wheels: $78
- Mexico City Historical Centre Food Tour with 7 Tastings & Drinks: $78
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:
- 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
- Embera Village Cooking Class Experience in Chagres National Park: $125
- The Real Panamanian Private Food Tour through Panama City: $245
Entertainment
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Entertainment Entrance tickets, shows, etc.Mexico City $14Panama 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:
- "Sabor a Calle": Mexico City Street Food Adventure: $93
- 100% Private Tour in Teotihuacán Pyramids from Mexico City: $120
- 100% private tour in Chapultepec Castle & around (with transport): $71
- 3 Day Private Culinary Experience in CDMX Beyond Tacos: $300
- 3-Hour Private Archaeological Walking Tour in Mexico with ATV: $165
- 3X1 Teotihuacan, Basilica of Guadalupe, Tlatelolco and Tequila Tour: $70
- 3X1 Tour in Xochimilco UNAM and Coyoacan: $60
- 4x4 RZR Adventure in Valle de Bravo: $131
- 5 Hour Tour through Chapultepec, Anthropology Museum and Castle: $57
- A Tour through the Guadalupe Basilica Grounds: $48
- A Walking Tour in San Ángel with Mezcal Tasting: $80
- ANTHROPOLOGY MUSEUM : Guided Tour: $70
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
- 2 Days Island Hopping Adventure San Blas Islands - Private Cabin: $265
- 2 Hours Private Luxury Tour in a Convertible Car in Panama City: $255
- 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 Hours Private City Tour & Canal in Panama: $70
- 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 hour tour in Panama City: $35
Alcohol
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Alcohol Drinks for one dayMexico City $18Panama 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:
- CDMX Pub Crawl: Guided Pub Crawl with Party Games: $24
- The Mexico City Pub Crawl: A real chilango night: $33
- THE MEXICO CITY PUB CRAWL: A real chilango night: $35
- Make Your Own Tequila or Mezcal with Distillery and Cocktails: $87
- Zona Rosa Pub Crawl Experience: $100
- Visit a mead distillery in Tlaxcala: $109
- Distillery Tour and Lucha Libre Spirits and Showdown: $118
- Mexican Wine Tasting with Food Pairing: $126
- Full Day Harvest Season Wine Tour & Grape Stomping Tequisquiapan: $136
- Private Cheese and Wine Tour to Queretaro: $511
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.