Which place is cheaper, Panama City or Rio de Janeiro?
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 Rio de Janeiro 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 Rio de Janeiro 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: Rio de Janeiro or Panama City?
Rio de Janeiro
Rio de Janeiro is the most popular travel destination in Brazil. It is the second largest city in Brazil and the sixth largest in the Americas. A portion of the city has been designated a World Heritage Site. It's also famous for Carnival, it's gorgeous beaches, and world-famous landmarks. Rio's appeal as a travel destination is apparent year round due to the great weather and plenty of fun activities. The city has a wonderful natural harbor that is surrounded by Sugar Loaf Mountain, Corcovado Peak, and the hills of Tijuca, creating an absolutely breathtaking and awe-inspiring setting.
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 Luxury Tours to Brazil, The Best Budget Tours to Brazil, The Best Budget Tours to Panama, and The Best One-Week (7-Day) Tours from Panama City.
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Rio de Janeiro Prices
Brazil PricesPanama City Prices
Panama Prices -
Average Daily Cost Per person, per dayRio de Janeiro $120Panama City $101
The average daily cost (per person) in Rio de Janeiro is $120, 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 Rio de Janeiro and Panama City in more detail.
Accommodation
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Accommodation Hotel or hostel for one personRio de Janeiro $66Panama City $35
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Accommodation Typical double-occupancy roomRio de Janeiro $132Panama City $70
Compare Hotels in Rio de Janeiro and Panama City
Looking for a hotel in Rio de Janeiro 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: Rio de Janeiro Hotel Prices and Panama City Hotel Prices.
Local Transportation
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Local Transportation Taxis, local buses, subway, etc.Rio de Janeiro $7.98Panama City $11
Typical Local Transportation Prices in Rio de Janeiro
Here are some examples of typical transportation prices from actual travelers in Rio de Janeiro:
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Taxi Ride$2.93
Hired Cars and Shuttles in Rio de Janeiro
Some specific examples of transportation prices in Rio de Janeiro:
- Private Departure Transfer from Rio de Janeiro to RIOgaleão - Tom Jobim Airport: $299
- TRANSFER 4 Passengers: Búzios/Angra dos Reis/Arraial do Cabo/Cabo Frio.: $270
- Sugarloaf Mountain Sunrise Experience with Breakfast & Transfer: $253
- Rio Art Museum | Round Trip Transfer + 2 Tickets: $250
- Museum of Tomorrow - | Round Trip Transfer + 2 Tickets: $250
- Private Transfer | Round Trip: $250
- Transfer service from / to Rio de Janeiro / Paraty: $243
- Arrival Private Transfer from Rio GIG or SDU Airport to Paraty: $232
- Original Historic Coffee Farm Guided Tour with Transfer: $220
- Private transfer Rio de Janeiro x Nova Friburgo: $216
- Buzios Private Transfer to and from Rio de Janeiro: $200
- Rio to Buzios Private Transfer - by Alan Denis: $197
Hired Cars and Shuttles in Panama City
Also for Panama City, here are a few examples of actual transportation services:
- Airport TRANSFER 1 way Tocumen Howard BLB Albrook Rio Hato Colon: $28
- Airport To City Hotel transfer: $50
- Arrival Private Transfer Panama PTY Airport to Playa Bonita: $75
- Arrival Private Transfer Panama PTY Airport to Playa Bonita: $84
- PTY Tours & Airport transfers - Giants V.I.P Tours: $22
- Panama 2 days / 1 night : hotel, transfers and city tour: $278
- Panama Airport (PTY) to Decameron - Round-Trip Private Transfer: $208
- Panama Airport (PTY) to Playa Bonita/Gamboa - Private Transfer: $33
- Panama Airport (PTY) to Playa Bonita/Gamboa - Round-Trip Transfer: $65
- Panama City Private Departure Transfer: $42
- Panama One Way Transfer: Van from Tocumen Airport to Panama City: $83
- Panama Private Airport/Port/Hotel Transfer Service: $28
Is it cheaper to fly into Rio de Janeiro or Panama City?
Prices for flights to both Panama City and Rio de Janeiro 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 dayRio de Janeiro $35Panama City $36
Typical Food Prices in Rio de Janeiro
Below are a few samples from actual travelers for food and meal costs in Rio de Janeiro:
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Popcorn$0.59
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Corn on the Cob$0.78
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Hamburger$0.98
Food Tours and Cooking Classes in Rio de Janeiro
Also, here are some specific examples of food and dining related activities in Rio de Janeiro.
- Vegan Rio Cooking Class: Hands-On Moqueca & Caipirinhas: $55
- Guided Dinner in Rio at a Restaurant of Your Choice: $70
- Brazilian Breakfast Cooking Class in Rio: Bake and Blend: $75
- Roxy Dinner Show: That Embrace Show: $79
- Rio de Janeiro Street Food Tour With A Local Guide: $81
- Rio: Copacabana Food Tour with 7 Tastings and Local Flavors: $81
- Hands-On Cooking Class in Rio: Iconic Street Foods & Caipirinhas: $85
- Brazilian Churrascaria Guided Dinner in Rio with Wine Pairing: $89
- Rio Roots Food Tour with 12+ Tastings: $89
- Food Tour Rio de Janeiro - The Best Typical Brazilian Dishes: $92
- Rio Historic Downtown & Lapa Street Food Tour (Full Meal): $94
- Carioca Kitchens Rio de Janeiro Food Tour with 12+ Tastings: $95
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$8.24
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:
- Panama Food Tour Local Markets Immersion (Tasting tour + Lunch): $50
- Italian-Panamanian Ravioli Cooking Class + meal in Panama City: $55
- Panama City FOOD Tour: $65
- Panamanian Dinner and Folkloric Show Ticket with Pickup: $65
- 3.5 -hour Afropanamanian Cooking Experience in Panama: $70
- Street Food Tour Panama (25+ tastings) By Paradox Experience: $90
Entertainment
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Entertainment Entrance tickets, shows, etc.Rio de Janeiro $22Panama City $66
Tours and Activities in Rio de Janeiro
Here are a few actual costs in Rio de Janeiro for available activities, ticket prices, and tours:
- 1 Day Discovery Tour NO Rio DE Janeiro: $64
- 1 day tour Rio de Janeiro to Christ and Cable car and much more: $120
- 10-hour Private Tour Rio In One Day: Christ, Sugarloaf, Selarón, Downtown: $229
- 12 Beaches Easy Bike Tour Rio de Janeiro: $78
- 2 Days Tour in City Tour Express and Arraial do Cabo: $198
- 3 Hour Rocinha Favela Walking Tour with a Local Guide: $50
- 4 horas - Tour private: Corcovado e praias: $220
- 4-Hour Private Guided Tour in Rio de Janeiro: $95
- 4-hour Sum-up Of Rio de Janeiro "Private Tour" – Optional Airport & Port Pick-up: $149
- 4x4 Jeep Jungle Tour Rio de Janeiro: $52
- 5-Hour Rio's Essential Sights: Private Tour – Optional Airport & Port Pick-ups: $154
- 6-Hour Private Guided Tour in Rio de Janeiro: $125
Tours and Activities in Panama City
Also, here are some specific examples of entertainment, tickets, and activities for Panama City.
- Panama City Sunset Bike Tour (Cinta Costera & Casco Viejo): $22
- Private Historic Tour of the Old Town: $25
- Spanish Experience in Panama City: $25
- Panama City Must-see Attractions Walking Tour with a Guide: $27
- City Sightseeing Panama City Hop-On Hop-Off Bus Tour: $30
- Get to know the city on board CitySightseeing Panama (24 Hours): $30
- Panama City Walking Tour: Explore Top Sights & Hidden Gems: $30
- Monkey and Sloth Jungle Habitat Panama Tour: $30
- Panama City Private Walking Tour with a Local: $35
- Panama Viejo Ruins & Museum Tour – Guided Exploration: $35
- Craft Your Own Rum: The Casa Barú Experience Casco Viejo: $35
- Half-Day Casco Viejo The Real City Guided with a Local Touch Tour: $35
Alcohol
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Alcohol Drinks for one dayRio de Janeiro $12Panama City $18
Sample the Local Flavors in Rio de Janeiro
Here are a few nightlife and alcohol tours and activities from local tour providers in Rio de Janeiro:
- Lapa by Night: Samba, Cachaça & The Ultimate Rio Pub Crawl: $30
- Dance the Night Away at a Pedra do Sal Bar Crawl: $38
- More than a Pub Crawl: An Authentic Night Experience in Rio: $40
- Petropolis City Tour with Imperial Museum and Optional Lunch & Bohemia Brewery: $47
- Botafogo Bar Crawl Eat and Drink Like a Local: $50
- Rio Pub Crawl with Caipirinhas & Bar Bites: $95
- Petrópolis City and Brewery Bohemia Tour - Best of Rio's Mountains: $110
- Brazilian Wine Tasting Evening: $123
- Rio: Sitio Burle Marx and Cachaça Distillery Private Tour: $177
When we compare the travel costs of actual travelers between Rio de Janeiro and Panama City, we can see that Rio de Janeiro is more expensive. And not only is Panama City much less expensive, but it is actually a significantly cheaper destination. Since Rio de Janeiro is in South 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 Rio de Janeiro would naturally cost you much more money, so you would probably want to keep your budget a little tighter in Rio de Janeiro 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 Rio de Janeiro Expensive? and Is Panama City Expensive?.
Which is Bigger, Rio de Janeiro or Panama City?
Rio de Janeiro has a larger population, and is about 10 times larger than the population of Panama City. When comparing the sizes of Rio de Janeiro 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.