Cost of Living Comparison Between Canada and Panama 
| Indices Difference |  |
|---|---|
| Cost of Living in Panama is 26.1% lower than in Canada (excluding rent) | |
| Cost of Living Including Rent in Panama is 26.5% lower than in Canada | |
| Rent Prices in Panama are 27.6% lower than in Canada | |
| Restaurant Prices in Panama are 36.3% lower than in Canada | |
| Groceries Prices in Panama are 23.2% lower than in Canada | |
| Local Purchasing Power in Panama is 62.5% lower than in Canada | |
Restaurants | Canada Edit |
Panama Edit | Difference |
|---|---|---|---|
| Meal at an Inexpensive Restaurant |
C$25.00 ($17.97) |
C$11.17 ($8.03) |
-55.3 % |
| Meal for Two at a Mid-Range Restaurant (Three Courses, Without Drinks) |
C$100.00 ($71.88) |
C$62.61 ($45.00) |
-37.4 % |
| Combo Meal at McDonald's (or Equivalent Fast-Food Meal) |
C$15.00 ($10.78) |
C$11.13 ($8.00) |
-25.8 % |
| Domestic Draft Beer (1 Pint) |
C$8.00 ($5.75) |
C$3.48 ($2.50) |
-56.5 % |
| Imported Beer (12 oz Small Bottle) |
C$8.00 ($5.75) |
C$5.57 ($4.00) |
-30.4 % |
| Cappuccino (Regular Size) |
C$5.33 ($3.83) |
C$5.47 ($3.93) |
+2.7 % |
| Soft Drink (Coca-Cola or Pepsi, 12 oz Small Bottle) |
C$2.93 ($2.11) |
C$2.17 ($1.56) |
-26.0 % |
| Bottled Water (12 oz) |
C$2.38 ($1.71) |
C$1.83 ($1.31) |
-23.0 % |
Markets | Canada Edit |
Panama Edit | |
| Milk (Regular, 1 Liter) |
C$3.10 ($2.23) |
C$2.56 ($1.84) |
-17.4 % |
| Fresh White Bread (1 lb Loaf) |
C$3.37 ($2.42) |
C$2.92 ($2.10) |
-13.3 % |
| White Rice (1 lb) |
C$2.30 ($1.65) |
C$1.78 ($1.28) |
-22.7 % |
| Eggs (12, Large Size) |
C$4.96 ($3.57) |
C$3.54 ($2.54) |
-28.7 % |
| Local Cheese (1 lb) |
C$6.86 ($4.93) |
C$7.59 ($5.46) |
+10.7 % |
| Chicken Fillets (1 lb) |
C$7.64 ($5.49) |
C$4.37 ($3.14) |
-42.8 % |
| Beef Round or Equivalent Back Leg Red Meat (1 lb) |
C$9.73 ($7.00) |
C$6.25 ($4.49) |
-35.8 % |
| Apples (1 lb) |
C$2.62 ($1.88) |
C$2.68 ($1.93) |
+2.5 % |
| Bananas (1 lb) |
C$0.91 ($0.65) |
C$0.92 ($0.66) |
+1.9 % |
| Oranges (1 lb) |
C$2.47 ($1.78) |
C$2.09 ($1.50) |
-15.4 % |
| Tomatoes (1 lb) |
C$2.56 ($1.84) |
C$2.31 ($1.66) |
-9.6 % |
| Potatoes (1 lb) |
C$1.68 ($1.21) |
C$1.58 ($1.13) |
-6.4 % |
| Onions (1 lb) |
C$1.60 ($1.15) |
C$1.99 ($1.43) |
+24.3 % |
| Lettuce (1 Head) |
C$3.64 ($2.62) |
C$3.04 ($2.19) |
-16.4 % |
| Bottled Water (50 oz) |
C$2.44 ($1.76) |
C$2.24 ($1.61) |
-8.4 % |
| Bottle of Wine (Mid-Range) |
C$18.72 ($13.46) |
C$13.91 ($10.00) |
-25.7 % |
| Domestic Beer (16.9 oz Bottle) |
C$4.03 ($2.90) |
C$1.89 ($1.36) |
-53.1 % |
| Imported Beer (12 oz Small Bottle) |
C$4.52 ($3.25) |
C$3.34 ($2.40) |
-26.1 % |
| Cigarettes (Pack of 20, Marlboro) |
C$20.00 ($14.38) |
C$8.24 ($5.92) |
-58.8 % |
Transportation | Canada Edit |
Panama Edit | |
| One-Way Ticket (Local Transport) |
C$3.50 ($2.52) |
C$0.70 ($0.50) |
-80.1 % |
| Monthly Public Transport Pass (Regular Price) |
C$104.25 ($74.93) |
C$29.22 ($21.00) |
-72.0 % |
| Taxi Start (Standard Tariff) |
C$4.43 ($3.18) |
C$3.48 ($2.50) |
-21.4 % |
| Taxi 1 mile (Standard Tariff) |
C$3.38 ($2.43) |
C$4.11 ($2.96) |
+21.7 % |
| Taxi 1 Hour Waiting (Standard Tariff) |
C$38.00 ($27.31) |
C$30.61 ($22.00) |
-19.5 % |
| Gasoline (1 Liter) |
C$1.64 ($1.18) |
C$1.52 ($1.10) |
-7.3 % |
| Volkswagen Golf 1.5 (or Equivalent New Compact Car) |
C$39,580.00 ($28,449.24) |
C$29,580.76 ($21,262.00) |
-25.3 % |
| Toyota Corolla Sedan 1.6 (or Equivalent New Mid-Size Car) |
C$27,285.04 ($19,611.89) |
C$31,233.56 ($22,450.00) |
+14.5 % |
Utilities (Monthly) | Canada Edit |
Panama Edit | |
| Basic Utilities for 915 Square Feet Apartment (Electricity, Heating, Cooling, Water, Garbage) |
C$209.73 ($150.75) |
C$160.83 ($115.60) |
-23.3 % |
| Mobile Phone Plan (Monthly, with Calls and 10GB+ Data) |
C$59.44 ($42.72) |
C$37.66 ($27.07) |
-36.6 % |
| Broadband Internet (Unlimited Data, 60 Mbps or Higher) |
C$84.19 ($60.51) |
C$65.72 ($47.24) |
-21.9 % |
Sports And Leisure | Canada Edit |
Panama Edit | |
| Monthly Fitness Club Membership |
C$57.80 ($41.54) |
C$69.97 ($50.29) |
+21.1 % |
| Tennis Court Rental (1 Hour, Weekend) |
C$27.90 ($20.05) |
C$40.43 ($29.06) |
+44.9 % |
| Cinema Ticket (International Release) |
C$16.00 ($11.50) |
C$11.13 ($8.00) |
-30.4 % |
Childcare | Canada Edit |
Panama Edit | |
| Private Full-Day Preschool or Kindergarten, Monthly Fee per Child |
C$1,067.45 ($767.26) |
C$755.91 ($543.33) |
-29.2 % |
| International Primary School, Annual Tuition per Child |
C$20,197.15 ($14,517.27) |
C$10,769.86 ($7,741.14) |
-46.7 % |
Clothing And Shoes | Canada Edit |
Panama Edit | |
| Jeans (Levi's 501 or Similar) |
C$76.78 ($55.19) |
C$70.34 ($50.56) |
-8.4 % |
| Summer Dress in a Chain Store (e.g. Zara or H&M) |
C$56.31 ($40.47) |
C$53.95 ($38.78) |
-4.2 % |
| Nike Running Shoes (Mid-Range) |
C$123.52 ($88.78) |
C$123.20 ($88.56) |
-0.3 % |
| Men's Leather Business Shoes |
C$145.33 ($104.46) |
C$164.34 ($118.12) |
+13.1 % |
Rent Per Month | Canada Edit |
Panama Edit | |
| 1 Bedroom Apartment in City Centre |
C$1,807.58 ($1,299.25) |
C$1,309.99 ($941.59) |
-27.5 % |
| 1 Bedroom Apartment Outside of City Centre |
C$1,591.92 ($1,144.23) |
C$1,010.05 ($726.00) |
-36.6 % |
| 3 Bedroom Apartment in City Centre |
C$2,871.21 ($2,063.76) |
C$2,287.54 ($1,644.23) |
-20.3 % |
| 3 Bedroom Apartment Outside of City Centre |
C$2,494.16 ($1,792.74) |
C$1,735.58 ($1,247.50) |
-30.4 % |
Buy Apartment Price | Canada Edit |
Panama Edit | |
| Price per Square Feet to Buy Apartment in City Centre |
C$613.22 ($440.77) |
C$385.25 ($276.91) |
-37.2 % |
| Price per Square Feet to Buy Apartment Outside of Centre |
C$507.12 ($364.50) |
C$215.08 ($154.60) |
-57.6 % |
Salaries And Financing | Canada Edit |
Panama Edit | |
| Average Monthly Net Salary (After Tax) |
C$4,185.93 ($3,008.75) |
C$1,154.42 ($829.77) |
-72.4 % |
| Annual Mortgage Interest Rate (20-Year Fixed, in %) | 4.85 | 6.35 | +30.7 % |
| Last update: | 29 August 2026 | 26 August 2026 | |
| Contributors in the past 12 months: | 2536 | 87 | |
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