Panama is a diverse destination famed for its beauty, culture, food, and exciting activities, and this travel cost guide will help you plan the perfect trip without overspending. We've broken down average costs from past travelers, including where to stay, what to eat, and what to see, so that your trip is both affordable and unforgettable.
How much does it cost to travel to Panama?
You should plan to spend around $92 (B/.93) per day on your vacation in Panama. This is the average daily price based on the expenses of other visitors.
Past travelers have spent, on average for one day:
- $37 (B/.37) on meals
- $11 (B/.11) on local transportation
- $69 (B/.69) on hotels
A one week trip to Panama for two people costs, on average, $1,295 (B/.1,302). 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
$647
B/.651
-
2 Weeks
Per person
$1,295
B/.1,302
-
One Month
Per person
$2,774
B/.2,790
-
One Week
For a couple
$1,295
B/.1,302
-
2 Weeks
For a couple
$2,589
B/.2,604
-
One Month
For a couple
$5,549
B/.5,580
How much does a one week, two week, or one month trip to Panama cost?
A one week trip to Panama usually costs around $647 (B/.651) for one person and $1,295 (B/.1,302) for two people. This includes accommodation, food, local transportation, and sightseeing.
A two week trip to Panama on average costs around $1,295 (B/.1,302) for one person and $2,589 (B/.2,604) 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 will often have a lower daily budget per person than one person traveling alone for one week.
A one month trip to Panama on average costs around $2,774 (B/.2,790) for one person and $5,549 (B/.5,580) for two people. The more places you visit, the higher the daily price will become due to increased transportation costs.
Independent Travel
Traveling Independently has many benefits including affordabilty, freedom, flexibility, and the opportunity to control your own experiences.
All of the travel costs below are based on the experiences of other independent travelers.
Is Panama expensive to visit?
Panama is a reasonably affordable destination to visit. It is in the top 25% of countries in the world for its affordability. If you're traveling on a budget, then this is a good destination with affordable accommodation, food, and transportation.
Within Central America, Panama is moderately priced compared to the other countries. The overall cost of travel here is comparable to Honduras or Belize.
Whether you're looking for luxury or traveling on a budget, Panama has an array of accommodation and activities to suit your needs. For those on a budget, hostels in Panama City, Bocas del Toro, and Boquete are available, but there are also luxury hotels for affluent visitors, and plenty of mid-range hotels for families and couples.
If you're worried about costs in Panama, there are ways to cut back, like eating at less expensive restaurants and enjoying free activities.
On average, budget travelers spend $37 (B/.37) per person per day, mid-range travelers spend $93 (B/.93) per day, and luxury travelers spend around $230 (B/.230) per day. These costs are calculated from the expenses of previous travelers to Panama.
For more details, see Is Panama Expensive?
How much money do I need for a trip to Panama?
The average Panama trip cost is broken down by category here for independent travelers. All of these Panama travel prices are calculated from the budgets of real travelers. Also, you can see more details at How much does a trip to Panama cost?
Panama on a Budget
|
Category
|
Budget
|
Mid-Range
|
Luxury
|
Accommodation 1
For 1 person in double occupancy
|
$14
(B/.14)
|
$34
(B/.35)
|
$83
(B/.84)
|
|
Local Transportation 1
|
$4.40
(B/.4.43)
|
$11
(B/.11)
|
$30
(B/.30)
|
|
Food 2
|
$15
(B/.15)
|
$37
(B/.37)
|
$85
(B/.85)
|
|
Entertainment 1
|
$10
(B/.11)
|
$28
(B/.28)
|
$81
(B/.82)
|
|
Alcohol 2
|
$3-8
(B/.3-8)
|
$7-21
(B/.7-21)
|
$19-57
(B/.19-58)
|
Pedasi, Panama
Realistic Expectations for Your Travel Budget
Having realistic expectations about your travel budget is very important. While it's easy to think of yourself as a "budget" traveler who can see everything on a shoestring, most find this style of travel quite challenging. Think about what you truly enjoy and your previous travel experiences. Are you drawn to resorts and vacation rentals, or do you like the budget-friendly environment of hostels? How important is it for you to eat in nicer restaurants? The answers to these questions will influence your overall travel budget.
Who Exactly is a Budget Traveler?
You may have heard that it's possible to visit Panama for around $37 a day, but if you want to maintain any level of comfort, you should be ready to spend considerably more.
While budget travelers might manage to travel on that amount, it often means staying in hostel dormitories, eating at budget restaurants or fast food joints, using public transport or walking, and sticking to free attractions.
Fortunately, Panama has an abundance of hostels, particularly in Panama City, Bocas del Toro, and Boquete.
Are You Considered an Average Traveler?
For couples or families traveling for fun, it's common to stay in mid-range hotels, dine at well-known restaurants, and visit the big museums and attractions that charge entry fees. You won't want to miss all of the major sights and attractions. As most activities are not free, you'll be spending at least some money on your trip. Given this, a more realistic daily budget would be around $93 per person, per day.
In Panama, you'll find plenty of hotels and vacation rentals to suit your needs. If you're traveling with a partner, friends, or your kids, then hotel costs will be divided, making it easier on your budget. Family-friendly destinations like David and Boquete offer hotels and restaurants with options tailored for kids. Some good places to stay are Hotel Ciudad de David in David or The Riverside Inn Boquete in Boquete. For more family- and couple-friendly places to stay, check out our hotel guide for Panama here.
What Luxury Travel Looks Like
If you're seeking a deluxe vacation that includes premium service and amenities, expect to pay around $230. This budget will cover luxurious hotels, award-winning dining, extravagant tours, and private transportation, landing you in the "luxury" travel range. You might even find yourself vacationing in high-end spots like Bocas del Toro and Panama City. Also, make the most of your time by booking a high-end multi-day tour such as Cycle Nicaragua, Costa Rica & Panama - offered by Exodus Adventure Travels.
Accommodation Budget in Panama
The range of hotel prices in Panama can be quite surprising, especially when you compare budget-friendly and luxury hotels. Peak season brings much higher prices, so consider traveling in the off-season for a more affordable experience. Booking in advance can also help with savings.
Calculated from travelers like you
The average price paid in Panama for two people for a typical double-occupancy hotel room is $69 (B/.69). For one person sharing a room, the average price paid for a hotel room is $34 (B/.35) per night. These costs are from the reported spending of actual travelers.
Looking for a hotel in Panama? Prices vary by location, date, season, and the level of luxury. See below for options.
Local Transportation Budget in Panama
Calculated from travelers like you
-
On average, past travelers have spent $11 (B/.11) per person, per day, on local transportation in Panama. The cost of a taxi ride or rideshare service (Uber/Lyft) in Panama is significantly more than public transportation.
-
Local Transportation1
Taxis, local buses, subway, etc.
$11
B/.11
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If you're driving in a larger city, make sure to ask your hotel about parking options in advance. You could end up paying for parking at the hotel or in a public garage nearby. In many cases, it might be more budget-friendly to park your car further from the city.
Typical prices for transit in Panama are listed below. These actual costs are from real travelers and can give you an idea of the overall transportation costs in Panama. Keep in mind that your individual costs will vary based on your method of transit, as hired cars such as taxis are generally much more expensive than public transportation.
Food Budget in Panama
Calculated from travelers like you
-
While restaurant and meal prices in Panama can vary significantly, the average cost of food in Panama is $37 (B/.37) per day, per person, based on the spending habits of previous travelers.
-
Food2
Meals for one day
$37
B/.37
When dining out, the average daily cost for food in Panama is around $37 (B/.37) per person, with previous travelers spending from $15 to $85. 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 are as follows:
- Breakfast: $7 to $11
- Lunch: $6 to $19
- Dinner: $13 to $30
- Coffee: $3
- Fast Food or Street Food: $6
Food in Panama is heavily influenced by the Afro-Caribbean, French and Spanish cultures. In the city you can find almost any type of food, but once you're in the countryside you'll find predominantly seafood and beef options. Plantains are common in many dishes, and rice and beans are common staples.
Patacones: A traditional dish of fried green plantains, patacones are included as a side dish with most meals. They are comparable to potato chips or fries, but are typically served with a garlic dipping sauce. This side dish reflects the Caribbean influence on cuisine in the area.
Chichas: This is a delicious fruit, water, and sugar drink that is often made with mangoes, tamarindo, papaya, or passionfruit. The drinks can be either alcoholic or nonalcoholic.
Empanadas: A quick snack dish, empanadas are a pastry that is filled with either meat, cheese, and sometimes vegetables. They can be quite large and are made with dough folded into a semicircle. They are a wonderful, affordable lunch option that are available at a lot of street stalls and many different restaurants.
When dining out with children, be sure to look for a restaurant that features a kids' menu. This can help you save a lot, as these meals tend to be more affordable. Also, since some places don't advertise their kids' options, it's good to ask the waiter before ordering.
While a lot of hotels come with breakfast included in the price, others might charge extra. The quality and price can vary significantly between hotels. Understanding this beforehand can guide your decision on whether to splurge on the hotel buffet or seek a cheaper meal at a local bakery or café.
Bring your own water bottle instead of buying drinks at every turn. It's also a sustainable choice for the environment.
Before embarking on a tour, ensure you understand which meals are included. If you end up paying for some meals yourself, it could have an impact on your travel budget.
Taking a food tour or cooking class is a great way to experience the culture in Panama. After all, cuisine is one of the reasons why so many people visit. A few of the best culinary activities here include:
- Night Out Experience (360 Panoramic Views + Dinner Show) for $85 details
- 4-Hour Guided Panamanian Cooking Class and Markets Experience for $85 details
- Panamanian Dinner and Folkloric Show Ticket with Pickup for $60 details
- Street Food Tour in Panama with a Local Guide for $236 details
Listed below are typical food prices in Panama, based on the actual spending of previous travelers. These figures provide an estimate of what you might expect to pay for meals. However, your personal expenses will depend on your dining preferences, the restaurants you choose, and what you decide to order.
-
Sandwich
B/.8.25
-
Breakfast
B/.14
-
Lunch
B/.15
Sightseeing and Activities Budget in Panama
Calculated from travelers like you
-
Sightseeing activities, entertainment, and entrance tickets in Panama typically cost an average of $28 (B/.28) 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.
$28
B/.28
Local tours that last a few hours can be a great way to explore Panama. 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:
- Panama Canal Zone Bike Adventure for $30 details
- 3-Hour Private Tour on E-Bike - Discover El Valle de Anton for $65 details
- Hiking Experience in Caldera Transportation Included for $95 details
- Dirtbike adventure in Boquete (half day) for $165 details
Below are a few common prices for sightseeing and activity entry fees in Panama, all of which are based on the reports of previous travelers. These figures should give you a rough estimate of what you can expect to pay. Keep in mind, though, your costs will vary depending on the activities you choose and whether you take advantage of free or budget-friendly options.
Nightlife Budget in Panama
Calculated from travelers like you
-
The average person spends about $14 (B/.14) on nightlife and alcoholic beverages in Panama per day. The more you spend on alcohol, the more fun you might be having despite your higher budget.
-
Alcohol2
Drinks for one day
$14
B/.14
Enjoying nightlife is great, but being mindful of your drinking can help keep your budget in check.
Traveling in Panama
Isla Diablo, Panama
Panama is a wonderful country that is easy to navigate and makes for a great introduction to Central America. When people think of this country, they most often think of Panama City, but there is so much more to this country. In addition to its cosmopolitan and cultural capital city, this area has wonderful rainforests and national parks. It also has beautiful beaches, world renowned scuba diving, and countless trekking opportunities. The country is quite diverse, but offers an excellent internal transportation system in the form of intercity buses, frequent flights, and a large number of privatized tourist transportation companies. Whatever your budget and travel style, you'll likely be surprised at how easy it is to travel around this beautiful country. Because of its ease of transportation, many expats have chosen to make their home in Panama, and you can see the international influence throughout the country.
The weather is pleasant in Panama year around and the temperatures generally stay consistent with highs around 90 degrees Fahrenheit and evening temperatures in the seventies. There is a rainy season that runs from May to November, and a dry season that runs between December and April. Even in the rainy season, do not expect it to rain all day. Most of the day is still pleasant and enjoyable.
English is prevalent throughout the country, and the currency is locked to the US dollar, making it a convenient place to experience this part of the world. Prices here may be slightly higher than some other Central American countries, but you can still find some good deals. There are some tricks to staying on budget in this country. In particular, spend a few days in Panama City and then move on. Other destinations are just as interesting at a fraction of the cost. Also avoid taxis if at all possible, as the prices are unreasonably high and the drivers typically refuse to negotiate. If you're on a particularly tight budget, look for hotels and hostels that don't have hot water, then ask for a discount. The weather is so hot most of the year, you're unlikely to miss the hot water anyway.
At A Glance
- Panama is probably one of the easiest countries in Central America to travel around. For this reason many people pick it as their first destination in the region. It has a cosmopolitan feel in its cities and an exotic feel in its jungles. It also has a large expat community because of its low cost of living and the ease at which you can get around. With English being a common language, it is easy to communicate and navigate through this country.
- It's very easy to cross from Costa Rica into Panama. There are great roads and public transportation is readily available. Generally the border crossing are smooth and efficient with few delays. If you have your own private vehicle it is also possible to take it across the border. It is very difficult to cross from Panama into Columbia because of the presence of the Darien Gap. There are no roads in this area and public transportation does not connect the two countries.
- Panama has used the U.S. Dollar as its currency since 1904, although it is referred to as the Balboa. There is some difference in the coin currency, but the value and size remains the same. You can even use Panama coins in the US in parking meters, payphones or vending machines.
- There is no shortage of outdoor adventure sports activities in this country. You can participate in anything from whitewater rafting to kayaking or zip lining. There is also some excellent scuba diving, snorkeling and hiking.
- Public transportation here is superb and you are unlikely to need any form of private transportation to get around. The buses are usually of a high quality and the prices for intercity trips are quite low. The roads are generally paved and in good condition as well.
Related:
Looking for a party hostel in Costa Rica or Cancun? Looking for a budget hostel in Mexico or Costa Rica?
Top Tourist Attractions
Coiba National Marine Park: This is a great place to see rare land and sea animals and is sometimes referred to as the Galapagos of Central America. Located about thirty miles off the coast of Panama in the Gulf of Chiriqui, Coiba National Marine Park has many islands, the largest of which is called Coiba.
Islas Secas: This is a series of islands located in the Chiriqui Gulf that is famous and world class for its sport fishing. The islands are privately owned by an American and you will find a nice eco-resort that you can visit.
Volcan Baru National Park: Here you will find Panama's tallest peak, standing high at over 11,000 feet. This park offers wonderful opportunities for hiking and wildlife spotting. It's near the town of Boquete and at the top you can see both oceans on a clear day. You'll also see crops of the famous geisha coffee growing along the edge of the volcano.
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.
We decided to really experience the country and used the local transportation to get around. This was fun and cheap, but not always efficient.