Which place is cheaper, Panama City or Mykonos?
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 Mykonos 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 Mykonos 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: Mykonos or Panama City?
Mykonos
Mykonos, a Greek Island in the middle of the Aegean Sea, is part of the Cyclades group. Mykonos is one of the most touristy islands in the Aegean Sea and is famous for its whitewashed buildings that climb up the hill along with historic windmills, stunning hillside views, and fantastic seafood restaurants. Because of its popularity, Mykonos comes with a hefty tourist markup. Many passengers arrive here as part of a cruise, so during the day its small streets can become crowded with tourists and its harbor fills with large ships. August and July are the most popular times to visit, so if you're hoping to avoid to crowds it's best to come a few months earlier.
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 Contiki Tours to Greece, The Best G Adventures Tours to Greece, The Best Budget Tours to Panama, and The Best One-Week (7-Day) Tours from Panama City.
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Mykonos Prices
Greece PricesPanama City Prices
Panama Prices -
Average Daily Cost Per person, per dayMykonos €272Panama City €90
The average daily cost (per person) in Mykonos is €272, while the average daily cost in Panama City is €90. 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 Mykonos and Panama City in more detail.
Accommodation
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Accommodation Hotel or hostel for one personMykonos €74Panama City €31
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Accommodation Typical double-occupancy roomMykonos €148Panama City €62
Compare Hotels in Mykonos and Panama City
Looking for a hotel in Mykonos 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: Mykonos Hotel Prices and Panama City Hotel Prices.
Local Transportation
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Local Transportation Taxis, local buses, subway, etc.Mykonos €24Panama City €9.40
Typical Local Transportation Prices in Mykonos
Below are a few samples from actual travelers for transportation costs in Mykonos:
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Bus to Paradise Beach (for 2)€5.60
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Taxi to Kalafatis€13
Hired Cars and Shuttles in Mykonos
Some specific examples of transportation prices in Mykonos:
- Private Helicopter Transfers From Mykonos: $2,732
- Mykonos Private Island Tour with Transfers and Greek Meal: $228
- Luxury transfer with V-Class Maybach: $228
- ❖ Private Island Tour with Transfers and Greek Meal: $228
- Mykonos Private Long Distance Transfer Up To 12 Persons: $213
- Transfer in Mykonos: $205
- Mykonos Catamaran to Delos and Rhenia with Lunch & Transfers: $171
- Effortless Private Transfer in Mykonos: $165
- Catamaran Cruise with Lunch, Drinks and Transfer: $165
- Mykonos Sunset Catamaran cruise with Transfer: $159
- Mykonos Private Transfer Up To 8 Persons: $159
- Rhenia Island Sunset Cruise with Transfer and Meal: $154
Hired Cars and Shuttles in Panama City
Also for Panama City, here are a few examples of actual transportation services:
- Private Transfer Airport PTY to/from Panama City: $17
- Private Transfer to Panama City Airport (PTY): $18
- Private One-way Airport Transfer from Tocumen Airport to Panamá: $19
- Private One-way Airport Transfer from Panamá to Tocumen Airport: $19
- Private Transfer from Tocumen Airport to Panama City: $19
- VIP Transfer Panama: Playa Bonita, Panama City & Pacific Riviera: $20
- Private transfer Panama City - Fort Amador Cruise Terminal: $20
- Private Transfer Tocumen Airport to Panama City or Beach: $20
- Tocumen Airport to Hotel Transfer in Panama City: $22
- Panama Airport (PTY) to Panama city - Arrival Private Transfer: $23
- Private Airport Transfer: $23
- Private Transfer Tocumen Airport - Old Town(Casco Viejo): $27
Is it cheaper to fly into Mykonos or Panama City?
Prices for flights to both Panama City and Mykonos 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 dayMykonos €83Panama City €32
Typical Food Prices in Mykonos
Some typical examples of dining costs in Mykonos are as follows:
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Two Ice cream Cones€4.50
Food Tours and Cooking Classes in Mykonos
Also, here are some specific examples of food and dining related activities in Mykonos.
- Dinner and Cinema Experience: $63
- Group Cooking Class at the Home of a Local Family: $74
- Traditional Lunch or Dinner at the Mykonian Spiti: $74
- Traditional Lunch or Dinner with Drinks in Mykonos: $74
- Souvlaki Cooking Class in Mykonos: $103
- Food Tour in Mykonos - Famous Tastings: $113
- Mykonos Cooking Class Experience for Cruise Travelers: $137
- Mykonos Small-Group Cooking Class with Sunset Option: $137
- Mykonos Cooking Class and Sunset View for Cruise Travelers: $137
- Mykonos Small Group Cooking Class with Sunset Option: $137
- Hands-On Cooking Class with a Professional Chef: $155
- Mykonos Cooking Class- Hands On: $155
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€7.33
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.Mykonos €23Panama City €58
Tours and Activities in Mykonos
Some specific costs of activities, tours, and entrance tickets for Mykonos are as follows:
- Μykonos Private 360 Photo and Video Tour Perfect for Social Media: $86
- "Mykonos Private Tour: Town Wonders & Beach Break: $227
- 2 Hours Private Island Tour in Mykonos: $108
- 2 Hours Private Mykonos Island Tour: $114
- 2 Hours Private Tour Mykonos Highlights with a Local: $108
- 2 Hours walking tour in Mykonos Town: $137
- 2 hours Mykonos island private tour: $103
- 2H Private Tour Visit in Mykonos Beaches: $154
- 3 Hour Mykonos Tour: $171
- 3-Hour Mykonos Best Beaches Yacht Cruise: $113
- 3-Hour Private Mykonos Highlights Tour: $171
- 3-Hours Private Mykonos Explorer Tour: $165
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 dayMykonos €20Panama City €16
Sample the Local Flavors in Mykonos
Also in Mykonos, these are the prices for nightlife and alcohol related activities from various tour providers:
- Wine Tasting in Tinos: Sea-View Terrace Tour & Sommelier Guide: $50
- Winery Vineyard Experience with Food & Wine Tasting: $77
- Tour and Wine Tasting in Mykonian Land: $78
- Wine Tasting at a Mykonian Farm: $85
- Wine Tasting Tour at a traditional farm in Mykonos: $86
- Kafedena's Olive oil and Wine Tasting with Mezzes: $91
- Mykonos Highlights Tour & Wine Tasting: $131
- Mykonos Gems & Wine Tasting: $131
- Wine Tasting with Greek Ancient varieties: $137
- Olive Oil and Wine Tasting: $154
- Half-Day Wine Tasting and Snack at a Local House: $159
- Half-Day Wine Tasting Tour in Mykonos: $160
When we compare the travel costs of actual travelers between Mykonos and Panama City, we can see that Mykonos is more expensive. And not only is Panama City much less expensive, but it is actually a significantly cheaper destination. Since Mykonos 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 Mykonos would naturally cost you much more money, so you would probably want to keep your budget a little tighter in Mykonos 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 Mykonos Expensive? and Is Panama City Expensive?.
Which is Bigger, Mykonos or Panama City?
Mykonos has a larger population, and is about 45% larger than the population of Panama City. When comparing the sizes of Mykonos 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.