Which place is cheaper, Panama City or Milan?
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 Milan or Panama City?
Which is cheaper to visit? Which is more expensive for vacation?
Trying to figure out where to travel next? This travel comparison between Milan and Panama City can help. It includes a travel cost comparison in addition to other factors. For many travelers, the cost of a destination is a primary consideration when choosing where to go.
Where Should I go: Milan or Panama City?
Milan
Milan, known to most of the world as the capital of fashion and style, is also the heart of Italian industry and economics. Between the stock exchange, cathedrals and boutiques, this metropolis is a city-lover's dream come true. It is an escape from the stresses of the real world, and provides a playground for all the world's most lavish luxuries.
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 Sightseeing Tours in Italy, The Best Vineyard & Wine Tours in Italy, The Best Budget Tours to Panama, and The Best One-Week (7-Day) Tours from Panama City.
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Milan Prices
Italy PricesPanama City Prices
Panama Prices -
Average Daily Cost Per person, per dayMilan €195Panama City €89
The average daily cost (per person) in Milan is €195, while the average daily cost in Panama City is €89. 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 Milan and Panama City in more detail.
Accommodation
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Accommodation Hotel or hostel for one personMilan €96Panama City €31
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Accommodation Typical double-occupancy roomMilan €192Panama City €62
Compare Hotels in Milan and Panama City
Looking for a hotel in Milan 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: Milan Hotel Prices and Panama City Hotel Prices.
Local Transportation
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Local Transportation Taxis, local buses, subway, etc.Milan €35Panama City €9.37
Typical Local Transportation Prices in Milan
Here are some examples of typical transportation prices from actual travelers in Milan:
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Train to Airport€7.00
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Malpensa Airport Train (for Two)€22
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Taxi From Airport€90
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Public Transit Day Pass€4.50
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Short Taxi Ride€7.13
Hired Cars and Shuttles in Milan
Also for Milan, here are a few examples of actual transportation services:
- Private City Tour with Transfers and Champagne: $3,419
- Private 1-Way Transfer to/from Venice: $1,686
- From Private Lake Como Transfer & Boat Experience: $1,060
- Milano: Transfer from Milan to St. Moritz: $849
- Cervinia: Private Transfer to/from Malpensa Airport: $547
- Saas Fee : Private Transfer to/from Malpensa Airport: $547
- Champoluc: Private Transfer to/from Malpensa Airport: $524
- Torino : Private Transfer to/from Malpensa Airport: $482
- From Linate airport : Private 1-Way Transfer to Bellagio: $404
- Serravalle Outlet : Private Transfer to/from Milan: $330
- Milan Layover Tour with a Guide: Private & Custom with Transfers: $296
- Private Transfer from Milan city to Genoa Cruise Port: $295
Hired Cars and Shuttles in Panama City
Also for Panama City, here are a few examples of actual transportation services:
- Panama 2 days / 1 night : hotel, transfers and city tour: $278
- San Blas Day Trip (Transfers & Lunch included): $175
- Private Transfer from Panama City Airport to Beach Resorts: $175
- Transfer from Tocumen Airport to Colon Cruise Port: $160
- Panama Airport (PTY) to Playa Blanca Round-Trip Private Transfer: $153
- Private Transfer from Panama Tocumen Airport (PTY) to Colón resorts: $143
- Private Transfer from Panama Airport (PTY) to Colón Resorts: $143
- Panama Tocumen Airport PTY to Coronado/Gorgona - Arrival Transfer: $102
- Private Transfer Tocumen Airport - Linton Bay Marina: $90
- Transfer Colon Cruise Port - Panama Airport: $90
- Arrival Private Transfer Panama PTY Airport to Playa Bonita: $84
- Panama One Way Transfer: Van from Tocumen Airport to Panama City: $83
Is it cheaper to fly into Milan or Panama City?
Prices for flights to both Panama City and Milan 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 dayMilan €67Panama City €32
Typical Food Prices in Milan
Here are some examples of typical meal expenses from previous travelers to Milan:
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Snack at Train Station€8.60
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Restaurant Pizza€6.60
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Casual Cafe Lunch (for Two)€27
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Three Course Dinner (for Two)€64
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Cappuccino€1.63
Food Tours and Cooking Classes in Milan
For Milan, here are some samples of tours and activities related to meals and dining experiences:
- International aperitif + cooking class in Italian: $27
- Food Point of Sale Tour and Italian Cooking Class in Milan: $38
- Pizza and Tiramisu lesson in Milan: $44
- Pizza and Tiramisu Class in Milan: $45
- Hard Rock Cafe with Set Menu for Lunch or Dinner: $46
- Milan Walking Food Tour with City Highlights: $48
- Devour Milan Street Food Tour and Sightseeing: $48
- only in ITALIAN - International aperitif + cooking class in Italian: $50
- Milano Food Tour with audioguide in the centre: $51
- Eating Milan Street Food Tour with Guided Tasting and Sightseeing: $51
- Gourmet Street Food Tour with Sightseeing and Tasting: $52
- Delicious Food Tour and City Center Sightseeing: $53
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€7.24
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:
- 3.5 -hour Afropanamanian Cooking Experience in Panama: $70
- Panamanian Dinner and Folkloric Show - All Inclusive Experience: $70
- Panama City by Night: Rooftop Skyline, Dinner & Folklore Show: $85
- 4-Hour Guided Panamanian Cooking Class and Markets Experience: $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.Milan €31Panama City €58
Typical Entertainment Prices in Milan
For Milan, here are some examples of average entertainment and activity prices from previous travelers:
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Stairs to Duomo Rooftop€7.00
Tours and Activities in Milan
Also, here are some specific examples of entertainment, tickets, and activities for Milan.
- 1 hour Italian Food Experiences in Milan: $41
- 2-Hour Milan by Night Walking Tour: $172
- 24-Hour "Gray Line" Milan Hop-On Hop-Off Tour with Audio Guide: $29
- 30 Minutes Dolce Vita Vintage Fiat 500 Fast Tour in Milan: $91
- 48-Hour "Gray Line" Milan Hop-On Hop-Off Tour with Audio Guide: $34
- 60 Minutes Milan Private VR Arena Experience: $37
- A Milan Winter Olympics Walking Tour: Milano Cortina 2026: $12
- A Self-Guided Audio Tour of Madrid's Navigli District: $20
- A Self-Guided Walking Tour of Leonardo Da Vinci’s Milan: $12
- A day in the life of Milan - Private tour with a local: $217
- AC Milan Football Match Experience: $442
- Alfa Romeo Museum, private guided tour from Milan, by car.: $159
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
- 1st Mysteries and FreeMasons Tour: $38
- 3 1/2 Hour Experience of Lake Gatun in Panama: $95
- 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
- 5-Hour Tour of Panama City, Panama from Tocumen Airport: $130
- 5-hour tour in Panama by a Local Guide: $39
- 5hour tour of Panama City and Panama Canal - Shared or Private: $65
- 5hrs Panama City and Canal Tour + Amenities: $65
Alcohol
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Alcohol Drinks for one dayMilan €24Panama City €16
Typical Alcohol Prices in Milan
Below are a few samples from actual travelers for alcohol and nightlife costs in Milan:
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Cocktail at a Bar€8.40
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Beer€3.35
Sample the Local Flavors in Milan
Here are a few nightlife and alcohol tours and activities from local tour providers in Milan:
- Ultimate Bar Crawl with Shots and Games: $29
- Milan Pub Crawl Party with Free Shots, Club Entry and Drink Deals: $40
- Legendary Halloween Pub Crawl Party in Milan 2025: $41
- Wine Tasting Experience with Platter: $45
- Wine Tasting Experience: $46
- Wine Tasting Experience in Milan City Center: $51
- Wine Tasting Experience in the City Centre: $53
- Wine Tasting Experience - Urban Cellar: $57
- Wine Tasting in Milan with the Producer: Valter Mattoni: $83
- Milan Wine Tasting with Italian Sommelier: $101
- Wine Tasting with an Italian Sommelier: $103
- Franciacorta Wine Tasting Tour from Milan with Lake Iseo Cruise: $113
When we compare the travel costs of actual travelers between Milan and Panama City, we can see that Milan is more expensive. And not only is Panama City much less expensive, but it is actually a significantly cheaper destination. Since Milan 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 Milan would naturally cost you much more money, so you would probably want to keep your budget a little tighter in Milan 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 Milan Expensive? and Is Panama City Expensive?.
Which is Bigger, Milan or Panama City?
Milan has a larger population, and is about 3 times larger than the population of Panama City. When comparing the sizes of Milan 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.