Panama City is a cultural destination known for its beauty, culture, food, and exciting activities. In this travel cost guide, we'll cover everything you need to know to plan your travel budget and have an amazing trip without spending too much. This guide includes average trip costs from previous travelers, typical hotel prices, food and dining costs, entertainment and sightseeing prices, and information about transportation.
How much does it cost to travel to Panama City?
You should plan to spend around $101 (B/.101) per day on your vacation in Panama City. This is the average daily price based on the expenses of other visitors.
Past travelers have spent, on average for one day:
- $36 (B/.36) on meals
- $11 (B/.11) on local transportation
- $70 (B/.70) on hotels
A one week trip to Panama City for two people costs, on average, $1,414 (B/.1,414). This includes accommodation, food, local transportation, and sightseeing.
All of these average travel prices have been collected from other travelers to help you plan your own travel budget.
-
One Week
Per person
$707
B/.707
-
2 Weeks
Per person
$1,414
B/.1,414
-
One Month
Per person
$3,030
B/.3,030
-
One Week
For a couple
$1,414
B/.1,414
-
2 Weeks
For a couple
$2,828
B/.2,828
-
One Month
For a couple
$6,060
B/.6,060
How much does a one week, two week, or one month trip to Panama City cost?
A one week trip to Panama City usually costs around $707 (B/.707) for one person and $1,414 (B/.1,414) for two people. This includes accommodation, food, local transportation, and sightseeing.
A two week trip to Panama City on average costs around $1,414 (B/.1,414) for one person and $2,828 (B/.2,828) for two people. This cost includes accommodation, food, local transportation, and sightseeing.
Please note, prices can vary based on your travel style, speed, and other variables. If you're traveling as a family of three or four people, the price per person often goes down because kid's tickets are cheaper and hotel rooms can be shared. If you travel slower over a longer period of time then your daily budget will also go down. Two people traveling together for one month in Panama City will often have a lower daily budget per person than one person traveling alone for one week.
A one month trip to Panama City on average costs around $3,030 (B/.3,030) for one person and $6,060 (B/.6,060) for two people. The more places you visit, the higher the daily price will become due to increased transportation costs.
Is Panama City expensive to visit?
Panama City is a smaller spot that entices a mix of tourists, showcasing various travel styles, financial habits, and budget considerations. Accommodation options range from budget-friendly hostels to mid-range hotels to high-end luxury properties.
If you're not cautious, Panama City can become costly, but you can save with strategies like looking for discounts and coupons.
On average, budget travelers spend $39 (B/.39) per day, mid-range travelers spend $101 (B/.101) per day, and luxury travelers spend around $269 (B/.269) per day. These costs are calculated from the expenses of previous travelers to Panama City.
Within Central America, Panama City is a moderately priced destination compared to other places. The overall cost of travel here is fair for the region and comparable to Bocas del Toro or Copan.
For more details, and to find out if it's within your travel budget, see Is Panama City Expensive?
How much money do I need for a trip to Panama City?
The average Panama City trip cost is broken down by category here for independent travelers. All of these Panama City travel prices are calculated from the budgets of real travelers. Also, you can see more details at How much does a trip to Panama City cost?
Panama City on a Budget
|
Category
|
Budget
|
Mid-Range
|
Luxury
|
Accommodation1
For 1 person in double occupancy
|
$15
(B/.15)
|
$35
(B/.35)
|
$74
(B/.74)
|
|
Local Transportation1
|
$4
(B/.4.15)
|
$11
(B/.11)
|
$28
(B/.28)
|
|
Food2
|
$15
(B/.15)
|
$36
(B/.36)
|
$84
(B/.84)
|
|
Entertainment1
|
$18
(B/.18)
|
$66
(B/.66)
|
$284
(B/.284)
|
|
Alcohol2
|
$3-10
(B/.3-10)
|
$9-27
(B/.9-27)
|
$24-73
(B/.24-73)
|
Realistic Expectations for Your Travel Budget
It's essential to keep realistic expectations for your travel budget. Many people think they can visit Panama City cheaply, but most travelers aren't comfortable with an extreme "shoestring" budget. Consider what you truly enjoy on vacation. Do you prefer resorts, vacation homes, or hostels? Is experiencing attractions and dining important to you? Your budget and itinerary will depend on your answers to these questions.
What Does It Mean to Be a Budget Traveler?
You might consider yourself a budget traveler, but if you're not ready to give up some comforts, prepare to spend a lot more than the $39 per day that younger budget travelers manage.
Backpackers will usually stick to this shoestring budget by staying in hostel dorms, dining at the cheapest spots such as fast food places, using public transit, and mostly visiting free attractions.
Fortunately, there are plenty of hostels available in Panama City, such as Hostal Casa Areka, El Machico Hostel, and Magnolia Inn Casco Viejo. In these hostels, you can discover cheap dorm accommodations and a great social atmosphere, though amenities may be few.
What Makes You an Average Traveler?
If you're a couple or family taking a fun trip, you'll probably prefer a mid-range hotel, enjoy meals at favorite restaurants, and visit the main museums and attractions that require entry fees. A trip to Panama City wouldn't be complete without visiting its major attractions, museums, sights, and landmarks. Most activities have costs involved. Thus, it's realistic to expect your daily budget to be closer to $101 per person, per day.
Panama City offers a fantastic variety of hotels and vacation rentals. When traveling with others, you can share your hotel with a partner, friend, or your children, which can help save money. Families should focus on hotels and restaurants that cater to kids. Ramada Plaza by Wyndham Panama Punta Pacifica is an excellent choice, while Wyndham Panama Albrook Mall Hotel & Convention Center is also a great option. To find more accommodations that are family and couple-friendly, check our hotel guide for Panama City.
Want to Experience a Luxurious Trip?
If you want an all encompassing getaway with top-notch amenities and exceptional service, get ready for a daily cost around $269. Staying in upscale hotels, dining at acclaimed restaurants, indulging in lavish activities, and using taxis or private drivers to navigate the destination will require a more luxurious budget. Many high-end visitors also prefer unique experiences such as Historical Private Tour in the city and Panama Canal with Pickup - offered by Viator.
Accommodation Budget in Panama City
In Panama City, the price of hotels can really surprise you. Some are much more expensive, offering higher luxury and amenities. Peak season rates soar, with off-season averages around $66 and peak season rising to an average of $123. Prices typically range from $31 to $237, but hostels remain cheaper, especially in dorms. To save money, book during the low season or take advantage of special promotions and advance deals.
Calculated from travelers like you
The average price paid in Panama City for two people for a typical double-occupancy hotel room is $70 (B/.70). For one person sharing a room, the average price paid for a hotel room is $35 (B/.35) per night. These costs are from the reported spending of actual travelers.
Looking for a hotel in Panama City? Prices vary by location, date, season, and the level of luxury. See below for options.
The most affordable highest rated hotels in Panama City include:
- Ramada Plaza by Wyndham Panama Punta Pacifica starting at $112
- Wyndham Panama Albrook Mall Hotel & Convention Center starting at $118
- RIU Plaza Panama starting at $96
- The Executive Hotel starting at $68
- American Trade Hotel starting at $235
If you plan to avoid and visit during the low or shoulder season, you'll find cheaper accommodation rates and fewer tourists.
Transportation Budget in Panama City
Calculated from travelers like you
-
On average, past travelers have spent $11 (B/.11) per person, per day, on local transportation in Panama City. The cost of a taxi ride or rideshare service (Uber/Lyft) in Panama City is significantly more than public transportation.
-
Transportation1
Taxis, local buses, subway, etc.
$11
B/.11
Panama City has a decent bus system and this is the cheapest option for exploring the city. The buses can get very crowded during rush hour, but their festive colors make for a fun experience. In recent years the colorful old buses have slowly been replaced by newer, air conditioned buses. The final destination of the bus is usually written on the top.
Alternatively, the easiest and most convenient way to travel around Panama City is by taxi. Taxis do not have a meter, but the driver should have a table available that will tell you the cost based on your starting and ending locations. Prices are set by the authorities and there will be an additional fee for every extra passenger.
In 2014 Panama City opened it's Metro system. It is a clean and affordable travel option. The Metro goes between the Albrook Mall/International Bus Station, through Panama City to the town of Los Andes. This covers about eight miles but does not go near many of the tourist destinations.
A few of the typical hotel transfers and transportation services include:
- Transfer from PTY/Panama City to Cruise Terminal or to the Marina for $32 details
- Private Transfer from Tocumen Airport to Playa Bonita for $33 details
- Private Airport Transfer for $23 details
How much does it cost to go to Panama City? Naturally, it depends on the dates. We recommend Kayak because they can find the best deals across all airlines.
The price of renting a car in Panama City will depends on dates, the type of car, the location, and your age. We recommend Kayak because they can find the best deals across all car rental companies.
Food Budget in Panama City
One of the biggest draws for travelers is the food, so be sure to savor the local flavors.
Calculated from travelers like you
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While restaurant and meal prices in Panama City can vary significantly, the average cost of food in Panama City is $36 (B/.36) per day, per person, based on the spending habits of previous travelers.
-
Food2
Meals for one day
$36
B/.36
When dining out, the average daily cost for food in Panama City is around $36 (B/.36) per person, with previous travelers spending from $15 to $84. Generally, breakfast and lunch cost less than dinner, but this will depend on the type of restaurant and what you order.
Typical meal prices in Panama City are as follows:
- Breakfast: $4 to $11
- Lunch: $5 to $14
- Dinner: $11 to $25
- Coffee: $3
- Fast Food or Street Food: $5
There are many traditional Panamanian restaurants throughout the city. The prices range from affordable to expensive and the quality is usually quite good.
If you're looking for a cheap meal, there are many cafes around town that sell sandwiches that are quite good. Also head to the fish market outside of Casco Viejo where you can find some fresh, cheap,and delicious options. If you're looking for something other than traditional food, there are great and affordable Chinese restaurants all over town.
Countless hotels provide breakfast as part of your stay, but some will add it as an additional fee. The price and quality can change based on the hotel. Being informed ahead of time can aid in deciding whether to budget extra funds. You might enjoy the delightful buffet offered at the hotel, or perhaps a more economical option would be a nearby bakery or cafe.
Instead of buying drinks, bring a water bottle. It's also an environmentally friendly option.
When planning your tour, don't forget to check what meals are included. You might have to pay for some of your own food, which could add to your expenses.
If you're looking to experience the culinary culture in Panama City, taking a food tour or cooking class is a terrific way to do it. After all, cuisine is one of the reasons why so many people visit. Some of the best food-related activities here include:
- 4-Hour Guided Panamanian Cooking Class and Markets Experience for $85 details
- 3.5 -hour Afropanamanian Cooking Experience in Panama for $70 details
- Street Food Tour in Panama with a Local Guide for $256 details
Typical food prices in Panama City, as reported by previous travelers, are outlined below. These costs offer a snapshot of what meals might cost in the city. Your personal expenses will vary depending on the type of dining experiences you choose and the dishes you order.
Sightseeing and Activities Budget in Panama City
Calculated from travelers like you
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Sightseeing activities, entertainment, and entrance tickets in Panama City typically cost an average of $66 (B/.66) per person, per day based on the spending of previous travelers. This includes fees paid for admission tickets to museums and attractions, day tours, and other sightseeing expenses.
-
Entertainment1
Entrance tickets, shows, etc.
$66
B/.66
There are some wonderful, world renowned sights around Panama City, with the most famous being the legendary Panama Canal. The most convenient and cheapest place to see the canal is at the Miraflores locks, where you can watch the boats travel through the canal. There's also a museum, movie theater, and expensive restaurant nearby. You can reach the locks by taxi for about US$6 one way.
Other places worth visiting in Panama City include Mi Pueblitos, Biomusea, Casco Viego, Panama Viejo, and Amador Causeway.
As a large, modern city, there are plenty of activities that you can enjoy while you're in Panama City. There are several Spanish Language schools in the city. This is a great place to learn or improve your Spanish skills in a fun and upbeat setting.
There are also plenty of shopping opportunities throughout the city. You'll find many street markets in the Caledonia area. There are many malls in the city including the Albrook Shopping Mall where you can find affordable clothes and entertainment such as bowling, movie theaters, and arcades. For more traditional Panamanian crafts head to the shops in the Centro de Artesanias. This is in the Balboa neighborhood.
A nice way to explore destinations in Panama City is with local tours that last just a few hours. This way you can see as much as possible in an efficient way with knowledgable guides. Prices vary by the type of activity or tour, the dates, and the size of the group. Here are a few of the highest rated tours by previous visitors:
- All Inclusive Sunset Panama Bay Catamaran Tour From Panama City for $55 details
- Panama Private or Shared City Day End Tour for $70 details
- Full Private Tour to CASCO VIEJO, Canal and Marina of AMADOR for $62 details
Nightlife Budget in Panama City
Calculated from travelers like you
-
The average person spends about $18 (B/.18) on nightlife and alcoholic beverages in Panama City per day. The more you spend on alcohol, the more fun you might be having despite your higher budget.
-
Alcohol2
Drinks for one day
$18
B/.18
While nightlife is a key part of many trips, scaling back on drinks can help free up some extra cash in your budget.
Nightlife activities and tasting tours are popular in Panama City. A few favorites from other travelers include:
- Casco Antiguo Guided Bar Crawl for $50 details
Travel cost data last updated: Mar 2, 2025
Traveling in Panama City
Panama City, Panama
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.
The city is the most modern in all of Central America. The skyline has a large number of skyscrapers and high rise buildings, and the city continues to grow in wealth and prosperity.
Panama City's climate is tropical wet and dry. The wet season is between May and December and the dry season is from January through April. The temperatures are relatively constant throughout the year with an average temperature of about 81 degrees Fahrenheit.
Neighborhoods & Around
Panama City is a large city with many interesting neighborhoods worth visiting. Amador Causeway is a man-made peninsula on the southern part of the city. It's a great dining and entertainment area with nice views of the skyline.
Balboa, Cerro Ancon, and Albrook are all quiet, residential neighborhoods that are in the former Canal Zone. This is also where you'll find the domestic airport, Albrook.
Calidonia and La Exposicion are experiencing much of the city's growth. There are high rise developments and also budget accommodation, but there are safer and more enjoyable neighborhoods elsewhere in the city so this area is not recommended.
Casco Viejo and San Felipe are nice areas with houses that date back to the 1800s. This area has been made a UNESCO World Heritage Site and is being nicely restored.
Along the coastline in Marbella, Punta Paitilla, and Punta Pacifica where there are many residential towers and shopping malls.
El Cangrejo, Area Bancaria, and Bella Vista make up a compact, upscale area that has a lot of charm. The Financial District is in Area Bancaria and there are many great places to stay in El Cangrejo.
Panama Viejo is the on the eastern edge of the city. This was the first settlement in Panama but it was later burned. It's possible to visit this area as part of a walking tour.
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We've been gathering travel costs from tens of thousands of actual travelers since 2010, and we use the data to calculate average daily travel costs for destinations around the world. We also systematically analyze the prices of hotels, hostels, and tours from travel providers such as Kayak, HostelWorld, TourRadar, Viator, and others. This combination of expenses from actual travelers, combined with pricing data from major travel companies, gives us a uniqe insight into the overall cost of travel for thousands of cities in countries around the world. You can see more here: How it Works.
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.