Which place is cheaper, Key West or Panama 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 Panama City or Key West?
Which is cheaper to visit? Which is more expensive for vacation?
Which city is more affordable and which is best for your travel style? If you're trying to figure out where to go next, comparing the travel costs between Panama City and Key West can help you decide which place is right for you.
Where Should I go: Panama City or Key West?
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.
Key West
Key West is both a city and an island as well as the southern most Florida Key. It is also the southern most city in the continental United States. The island is only about four miles long and one mile wide. The total land mass covers just 4.2 square miles. The most famous street in town is Duval Street, which runs just 1.1 miles from the Gulf of Mexico to the Atlantic Ocean. There are 14 blocks. The size of the island doubled during the 1950s when many of the salt ponds along the eastern side of the island were filled in.
For some great organized tour ideas, see The Best Budget Tours to Panama, The Best One-Week (7-Day) Tours from Panama City, The Best Train & Rail Tours in United States of America, and The Best Sightseeing Tours in United States of America.
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Panama City Prices
Panama PricesKey West Prices
USA Prices -
Average Daily Cost Per person, per dayPanama City $101Key West $247
The average daily cost (per person) in Panama City is $101, while the average daily cost in Key West is $247. 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 Panama City and Key West in more detail.
Accommodation
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Accommodation Hotel or hostel for one personPanama City $35Key West $132
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Accommodation Typical double-occupancy roomPanama City $70Key West $264
Compare Hotels in Panama City and Key West
Looking for a hotel in Panama City or Key West? 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: Panama City Hotel Prices and Key West Hotel Prices.
Local Transportation
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Local Transportation Taxis, local buses, subway, etc.Panama City $11Key West $51
Hired Cars and Shuttles in Panama City
Also for Panama City, here are a few examples of actual transportation services:
- Transfers to Riu Playa Blanca, The Buenaventura Golf, Rio hato: $8.00
- Private Departure Transfer to Panama City Airport (PTY): $13
- Private transfer from airport to hotels in Panama City: $15
- Private Transfer to Panama City Airport (PTY): $15
- Private Transfer Airport PTY to/from Panama City: $17
- Private Airport Transfer PTY to Panama City or Playa Blanca: $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 Tocumen Airport to Panama City or Beach: $20
- Private transfer Panama City - Fort Amador Cruise Terminal: $20
- Transfer to or from the airport / Min 2 pax: $20
- Private Transfer Panama Tocumen Airport PTY to Panama City: $21
Typical Local Transportation Prices in Key West
Below are a few samples from actual travelers for transportation costs in Key West:
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Rental Car for One Day$38
Hired Cars and Shuttles in Key West
Some specific examples of transportation prices in Key West:
- Key West Airport (EYW) to Key West - Arrival Private Transfer: $154
- Key West to Key West Airport (EYW) - Departure Private Transfer: $154
- Private Arrival Transfer from Key West Airport EYW: $144
- Private Transfer from Key West Cruise Port to Key West hotels: $112
- Private Transfer from Key West hotels to Key West Cruise Port: $112
- Private Transfer from Key West Port to Key West Airport (EYW): $111
- One Way Airport Transfer Service: $54
Is it cheaper to fly into Panama City or Key West?
Prices for flights to both Key West and Panama 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 dayPanama City $36Key West $81
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$8.25
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
- Panamanian Dinner and Folkloric Show Ticket with Pickup: $65
- Panama City FOOD Tour: $65
- 3.5 -hour Afropanamanian Cooking Experience in Panama: $70
- E-Tickets Emotions Dinner Live Show Admission: $75
- Afro-Panamanian Cooking Class with Meal: $75
- Street Food Tour with 24 Tastings: $75
- Street Food Tour Panama (25+ tastings) By Paradox Experience: $90
- 4-Hour Guided Panamanian Cooking Class and Markets Experience: $95
- 4h Cooking Class in 10 Recipes & Bottomless Drinks: $95
- Panama: 10-Recipe Boozy Panamanian Cooking Class + Dinner: $95
- Folkloric Dance & Typical Dinner at Sabroso Panamá: $110
Food Tours and Cooking Classes in Key West
Also, here are some specific examples of food and dining related activities in Key West.
- Sunset Dinner Cruise with Open Bar & Live Music: $74
- Cooking Show Chef Demonstration with Meal: $81
- Southernmost Food & Cultural Walking Tour by Key West Food Tours: $90
- Key West Cooking Show Chef Demonstration with Meal: $91
- Key West Sunset Cruise: Dinner, Live Music & Drinks Included: $93
- Secret Walking Food Tour: $115
Entertainment
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Entertainment Entrance tickets, shows, etc.Panama City $66Key West $33
Tours and Activities in Panama City
Also, here are some specific examples of entertainment, tickets, and activities for Panama City.
- Archaeological Site. Admission ticket to Panama La Vieja: $15
- Private Historic Tour of the Old Town: $25
- Panama Casco Viejo: Walking Tour Must See Treasures!!!: $25
- Panama: Highlights Bike Tour in Casco Viejo & Cinta Costera: $26
- Panama : Must-See Sites Walking Tour With A Guide: $27
- Panama City Must-see Attractions Walking Tour with a Guide: $27
- Panama City Bike Tour By Paradox Experience: $29
- Monkey and Sloth Jungle Habitat Panama Tour: $30
- City Sightseeing Hop-On Hop-Off Bus Tour: $30
- City Sightseeing Panama City Hop-On Hop-Off Bus Tour: $30
- Half-Day Tour to Miraflores Locks & Casco Viejo: $32
- POIN Panama City Climb Experience: $32
Tours and Activities in Key West
Some specific costs of activities, tours, and entrance tickets for Key West are as follows:
- 2 Hour Key West Mini Catamaran Eco Tour: $285
- 2 Hour Mangrove Maze Kayak Tour in Key West: $65
- A Self Guided Key West Cemetery Tour: $30
- A Snorkel Tour with a Twist of History, Marathon, Florida Keys: $70
- Day Sailing Adventure in the Florida Marine Sanctuary: $120
- Day in Key West - Private SUV Tour From Miami: $1,300
- Florida Keys: Aquarium Encounters Day Tour with Lunch: $182
- Florida Keys: Dolphin Research Center Day Tour with Lunch: $182
- Florida Keys: Up The Keys Nature Tour: $128
- From Dolphin Watching Tour with Lunch & Drinks: $150
- From Sandbar Cruise with Lunch and Open Bar (18+): $151
- Guided Mangrove Eco Tours Kayak or Paddleboard Adventure: $75
Alcohol
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Alcohol Drinks for one dayPanama City $18Key West $16
Sample the Local Flavors in Key West
Also in Key West, these are the prices for nightlife and alcohol related activities from various tour providers:
- A Spectacular Bar Crawl in Key West: $15
- Bone Island Haunted Pub Crawl: $32
- Haunted Pub Crawl Walking Tour: $35
- Key West Spirits and Haunted Pub Crawl: $36
- Original Key West Pub Crawl: The Best Bars with Free T-Shirt: $43
- 2.5-Hour Duval Street Pub Crawl: $43
When we compare the travel costs of actual travelers between Panama City and Key West, we can see that Key West is more expensive. And not only is Panama City much less expensive, but it is actually a significantly cheaper destination. Since Panama City is in Central America and Key West is in North 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 Key West would naturally cost you much more money, so you would probably want to keep your budget a little tighter in Key West 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 Panama City Expensive? and Is Key West Expensive?.
Which is Bigger, Panama City or Key West?
Panama City has a larger population, and is about 20 times larger than the population of Key West. When comparing the sizes of Panama City and Key West, 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.