Published: Monday, 21th October 2024
The cost of living in Ghana is 4.35 times less expensive as compared to Panama.
On this page, you will find side-by-side cost comparison between Ghana and Panama. We have created 172 cost-of-living indicators. We average the prices of all those indicators and take a mathematically calculated approach to determine which country is more expensive to live in between Ghana and Panama.
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Indicators | Ghana | Panama |
---|---|---|
1 BHK Apartment in City Center | 1,500 GHS (129 USD) | 1,200 PAB (1,200 USD) |
2 BHK Apartment in City Center | 2,500 GHS (215 USD) | 2,000 PAB (2,000 USD) |
3 BHK Apartment in City Center | 3,500 GHS (301 USD) | 3,000 PAB (3,000 USD) |
1 BHK Apartment outside City Center | 1,000 GHS (86 USD) | 800 PAB (800 USD) |
2 BHK Apartment outside City Center | 1,800 GHS (154.80 USD) | 1,200 PAB (1,200 USD) |
3 BHK Apartment outside City Center | 2,500 GHS (215 USD) | 1,800 PAB (1,800 USD) |
Mortgage Rates Per Month | 14 % | 1.3 % |
Realtor Commission | 5 % | 5 % |
Property Taxes | 0.5 to 1.0 % | 0.6 to 1.0 % |
The average housing cost in Ghana is 9.22 times less expensive than Panama.
Indicators | Ghana | Panama |
---|---|---|
Basic Home Furnishing | 1,500 GHS (129 USD) | 3,000 PAB (3,000 USD) |
Electricity Cost Per Month | 200 GHS (17.20 USD) | 150 PAB (150 USD) |
Heating Cost Per Month | 250 GHS (21.50 USD) | 100 PAB (100 USD) |
Cooling Cost Per Month | 100 GHS (8.60 USD) | 80 PAB (80 USD) |
Water Supply Cost Per Month | 60 GHS (5.16 USD) | 60 PAB (60 USD) |
If you lived in Ghana, instead of Panama, you would have to pay 94.65% less for Utilities.
The basic home furnishing in Ghana costs 23.26 times less compared to Panama.
Indicators | Ghana | Panama |
---|---|---|
Standard Wifi Cost Per Month | 80 GHS (6.88 USD) | 70 PAB (70 USD) |
Mobile Phone Basic Plan Cost Per Month | 50 GHS (4.30 USD) | 50 PAB (50 USD) |
Landline Basic Plan Cost Per Month | 30 GHS (2.58 USD) | 30 PAB (30 USD) |
Cable TV Basic Plan Cost Per Month | 70 GHS (6.02 USD) | 80 PAB (80 USD) |
The internet and communication costs 91.40% less in Ghana compared to Panama.
Indicators | Ghana | Panama |
---|---|---|
Long Grain Rice (1 KG) | 8 GHS (0.69 USD) | 2 PAB (2 USD) |
Milk (1 Liter) | 6 GHS (0.52 USD) | 1.50 PAB (1.50 USD) |
Water (1 Liter) | 1.50 GHS (0.13 USD) | 0.50 PAB (0.50 USD) |
Bread (500 gm) | 3.50 GHS (0.30 USD) | 1 PAB (1 USD) |
Eggs (1 Dozen) | 10 GHS (0.86 USD) | 3 PAB (3 USD) |
Cheese (1 KG) | 25 GHS (2.15 USD) | 5 PAB (5 USD) |
Chicken Breast (1 KG) | 35 GHS (3.01 USD) | 7 PAB (7 USD) |
In Ghana, the cost of 1 Liter Water and 1 Liter Milk is 3.10 times less expensive than the cost in Panama.
If you lived in Ghana, instead of Panama, you would have to pay 61.73% less for Groceries.
Indicators | Ghana | Panama |
---|---|---|
Apples (1 KG) | 8 GHS (0.69 USD) | 3 PAB (3 USD) |
Bananas (1 KG) | 6 GHS (0.52 USD) | 1.50 PAB (1.50 USD) |
Oranges (1 KG) | 7 GHS (0.60 USD) | 2 PAB (2 USD) |
Tomatoes (1 KG) | 5 GHS (0.43 USD) | 2 PAB (2 USD) |
Potatoes (1 KG) | 4 GHS (0.34 USD) | 1 PAB (1 USD) |
Lemons (1 KG) | 10 GHS (0.86 USD) | 2.50 PAB (2.50 USD) |
Onions (1 KG) | 4.50 GHS (0.39 USD) | 1.50 PAB (1.50 USD) |
Lentils (1 KG) | 8 GHS (0.69 USD) | 2.50 PAB (2.50 USD) |
If you lived in Ghana, instead of Panama, you would have to pay 3.54 times less for Fruits and Vegetables.
Indicators | Ghana | Panama |
---|---|---|
Meal at a Resonable Restaurant | 30 GHS (2.58 USD) | 12 PAB (12 USD) |
Three-Course Meal for Two | 100 GHS (8.60 USD) | 30 PAB (30 USD) |
Fast Food Combo Meal | 20 GHS (1.72 USD) | 6 PAB (6 USD) |
Normal Coffee | 7 GHS (0.60 USD) | 2.50 PAB (2.50 USD) |
Soft Drink | 3 GHS (0.26 USD) | 1.50 PAB (1.50 USD) |
Pizza for One | 30 GHS (2.58 USD) | 12 PAB (12 USD) |
Take-Out Delivery Meal | 35 GHS (3.01 USD) | 10 PAB (10 USD) |
Cigarette Pack of 20 | 10 GHS (0.86 USD) | 6 PAB (6 USD) |
Dining-Out costs 74.74% less in Ghana compared to Panama.
Indicators | Ghana | Panama |
---|---|---|
Wine Mid-Range Bottle | 50 GHS (4.30 USD) | 15 PAB (15 USD) |
Glass of Wine | 12 GHS (1.03 USD) | 6 PAB (6 USD) |
Domestic Beer Half Liter | 5 GHS (0.43 USD) | 2.50 PAB (2.50 USD) |
Imported Beer Half Liter | 7 GHS (0.60 USD) | 4 PAB (4 USD) |
Domestic Alcohol 1 Liter | 35 GHS (3.01 USD) | 15 PAB (15 USD) |
Branded Alcohol 1 Liter | 60 GHS (5.16 USD) | 25 PAB (25 USD) |
If you lived in Ghana, instead of Panama, you would have to pay 4.64 times less for usual hard drinks.
Indicators | Ghana | Panama |
---|---|---|
Monthly Public Transportation Pass | 60 GHS (5.16 USD) | 50 PAB (50 USD) |
Single Public Transportation Ticket | 2 GHS (0.17 USD) | 1.50 PAB (1.50 USD) |
Single Train Ticket | 50 GHS (4.30 USD) | Yet to Update () |
Domestic Airplane Ticket | 150 GHS (12.90 USD) | 100 PAB (100 USD) |
Taxi Start Fare | 10 GHS (0.86 USD) | 3 PAB (3 USD) |
Taxi Rate Per Kilometer | 2 GHS (0.17 USD) | 1.50 PAB (1.50 USD) |
Car Rental Per Day | 60 GHS (5.16 USD) | 30 PAB (30 USD) |
Parking Fees in City Center Per Hour | 10 GHS (0.86 USD) | 2 PAB (2 USD) |
Parking Fees outside City Center Per Hour | 5 GHS (0.43 USD) | 1 PAB (1 USD) |
If you lived in Ghana, instead of Panama, you would have to pay 6.30 times less for transportation.
Indicators | Ghana | Panama |
---|---|---|
Reasonable Vehicle Purchase Cost | 35,000 GHS (3,010 USD) | 15,000 PAB (15,000 USD) |
Vehicle Registration Cost | 300 GHS (25.80 USD) | 80 PAB (80 USD) |
Driving License Fees | 200 GHS (17.20 USD) | 50 PAB (50 USD) |
Car Insurance Cost | 500 GHS (43 USD) | 400 PAB (400 USD) |
Car Maintenance Cost | 150 GHS (12.90 USD) | 150 PAB (150 USD) |
Car Loan Interest Rates | 15 % | 6 % |
Fuel Per Liter | 7 GHS (0.60 USD) | 1.20 PAB (1.20 USD) |
Fuel Per Gallon | 26 GHS (2.24 USD) | 4.50 PAB (4.50 USD) |
Average Toll Fees | Yet to Update | 5 PAB 5 USD |
You would have to pay 5.04 times less for Vehicle purchase, daily operation and maintenance in Ghana compared to that of Panama.
Indicators | Ghana | Panama |
---|---|---|
Doctor Visit | 100 GHS (8.60 USD) | 50 PAB (50 USD) |
Specialist Visit | 150 GHS (12.90 USD) | 100 PAB (100 USD) |
Dentist Visit | 90 GHS (7.74 USD) | 70 PAB (70 USD) |
Eye Exam | 60 GHS (5.16 USD) | 50 PAB (50 USD) |
Mental Health Counseling | 120 GHS (10.32 USD) | 100 PAB (100 USD) |
Preventive Health Screening | 70 GHS (6.02 USD) | 50 PAB (50 USD) |
Physical Therapy | 90 GHS (7.74 USD) | 75 PAB (75 USD) |
Emergency Room Visit | 150 GHS (12.90 USD) | 300 PAB (300 USD) |
Hospital Stay Per Night | 250 GHS (21.50 USD) | 150 PAB (150 USD) |
Vaccinations | 40 GHS (3.44 USD) | 30 PAB (30 USD) |
Prescription Medication | 30 GHS (2.58 USD) | 20 PAB (20 USD) |
Over the Counter Medication | 15 GHS (1.29 USD) | 10 PAB (10 USD) |
Health Insurance Premiums | 200 GHS (17.20 USD) | 150 PAB (150 USD) |
Health Insurance Deductibles | 100 GHS (8.60 USD) | 75 PAB (75 USD) |
If you lived in Ghana, instead of Panama, you would have to pay 9.76 times less for Health and Medical Treatment.
Indicators | Ghana | Panama |
---|---|---|
Cosmetic Procedures | 250 GHS (21.50 USD) | 200 PAB (200 USD) |
Spa Treatment | 120 GHS (10.32 USD) | 75 PAB (75 USD) |
Manicure Pedicure Cost | 60 GHS (5.16 USD) | 30 PAB (30 USD) |
Optical Glasses Cost | 120 GHS (10.32 USD) | 80 PAB (80 USD) |
Contact Lenses Cost | 200 GHS (17.20 USD) | 40 PAB (40 USD) |
Haircuts | 30 GHS (2.58 USD) | 15 PAB (15 USD) |
Hair Coloring | 70 GHS (6.02 USD) | 40 PAB (40 USD) |
Shampoo Price | 10 GHS (0.86 USD) | 5 PAB (5 USD) |
Toothpaste Price | 3 GHS (0.26 USD) | 2 PAB (2 USD) |
If you lived in Ghana, instead of Panama, you would have to pay 6.56 times less for Personal Care Items and Treatment.
Indicators | Ghana | Panama |
---|---|---|
Pair of Nike Running Shoes | 400 GHS (34.40 USD) | 80 PAB (80 USD) |
Men's Shirt | 90 GHS (7.74 USD) | 25 PAB (25 USD) |
Women's Dress | 100 GHS (8.60 USD) | 40 PAB (40 USD) |
Summer Dress | 60 GHS (5.16 USD) | 30 PAB (30 USD) |
Men's Suit | 800 GHS (68.80 USD) | 100 PAB (100 USD) |
Men's Jeans | 150 GHS (12.90 USD) | 40 PAB (40 USD) |
Women's Jeans | 130 GHS (11.18 USD) | 30 PAB (30 USD) |
Men's Formal Shoes | 200 GHS (17.20 USD) | 80 PAB (80 USD) |
Women's Formal Shoes | 200 GHS (17.20 USD) | 80 PAB (80 USD) |
Men's Casual Shoes | 120 GHS (10.32 USD) | 50 PAB (50 USD) |
Women's Casual Shoes | 120 GHS (10.32 USD) | 50 PAB (50 USD) |
Underwear For Men | 15 GHS (1.29 USD) | 8 PAB (8 USD) |
Underwear For Women | 20 GHS (1.72 USD) | 12 PAB (12 USD) |
Socks For Men | 8 GHS (0.69 USD) | 3 PAB (3 USD) |
Socks For Women | 9 GHS (0.77 USD) | 3 PAB (3 USD) |
Wintercoat for Adults | 150 GHS (12.90 USD) | 80 PAB (80 USD) |
Sportswear | 70 GHS (6.02 USD) | 40 PAB (40 USD) |
If you lived in Ghana, instead of Panama, you would have to pay 3.31 times less for Clothing and Footwear for Adults.
Indicators | Ghana | Panama |
---|---|---|
Children's Jeans | 50 GHS (4.30 USD) | 20 PAB (20 USD) |
Children's Normal Sneakers | 80 GHS (6.88 USD) | 30 PAB (30 USD) |
Children's Winter Coat | 100 GHS (8.60 USD) | 40 PAB (40 USD) |
Daycare for Infant | 2,000 GHS (172 USD) | 200 PAB (200 USD) |
Daycare for Toddler | 1,800 GHS (154.80 USD) | 150 PAB (150 USD) |
Childcare for Sick Days | 60 GHS (5.16 USD) | 30 PAB (30 USD) |
Early Childhood Education Programs | 1,500 GHS (129 USD) | 150 PAB (150 USD) |
Extra Curricular Activities | 300 GHS (25.80 USD) | 100 PAB (100 USD) |
Summer Camp for Kids | 700 GHS (60.20 USD) | 150 PAB (150 USD) |
If you lived in Ghana, instead of Panama, you would have to pay 1.54 times less for Childcare and kids clothing.
Indicators | Ghana | Panama |
---|---|---|
PreSchool Fees | 1,500 GHS (129 USD) | 250 PAB (250 USD) |
Primary School Fees | 2,500 GHS (215 USD) | 400 PAB (400 USD) |
Secondary School Fees | 4,000 GHS (344 USD) | 600 PAB (600 USD) |
Private School Fees | 7,000 GHS (602 USD) | 1,000 PAB (1,000 USD) |
University Tuition Fees | 12,000 GHS (1,032 USD) | 2,500 PAB (2,500 USD) |
University Private Tuition Fees | 18,000 GHS (1,548 USD) | 3,500 PAB (3,500 USD) |
After School Activities | 300 GHS (25.80 USD) | 75 PAB (75 USD) |
Special Education Services | 600 GHS (51.60 USD) | 200 PAB (200 USD) |
Tutoring | 70 GHS (6.02 USD) | 30 PAB (30 USD) |
Textbooks Cost | 60 GHS (5.16 USD) | 50 PAB (50 USD) |
School Supplies | 40 GHS (3.44 USD) | 30 PAB (30 USD) |
If you lived in Ghana, instead of Panama, you would have to pay 2.18 times less for school and education.
Indicators | Ghana | Panama |
---|---|---|
Movie Ticket (Single) | 20 GHS (1.72 USD) | 8 PAB (8 USD) |
Theater Ticket (Single) | 40 GHS (3.44 USD) | 15 PAB (15 USD) |
Concert Ticket (Single) | 50 GHS (4.30 USD) | 25 PAB (25 USD) |
Sports Event Ticket (Single) | 30 GHS (2.58 USD) | 15 PAB (15 USD) |
Gym Membership | 60 GHS (5.16 USD) | 40 PAB (40 USD) |
Swimming Pool Access | 30 GHS (2.58 USD) | 25 PAB (25 USD) |
Museum Entry Ticket | 10 GHS (0.86 USD) | 8 PAB (8 USD) |
Zoo Entry Ticket | 20 GHS (1.72 USD) | 12 PAB (12 USD) |
Amusement Park Entry Ticket | 40 GHS (3.44 USD) | 20 PAB (20 USD) |
Bowling | 15 GHS (1.29 USD) | 15 PAB (15 USD) |
Mini Golf | 10 GHS (0.86 USD) | 12 PAB (12 USD) |
Video Games | 70 GHS (6.02 USD) | 40 PAB (40 USD) |
Streaming Services | 40 GHS (3.44 USD) | 12 PAB (12 USD) |
Outdoor Equipment Rental | 30 GHS (2.58 USD) | 15 PAB (15 USD) |
Theme Park Annual Pass | 600 GHS (51.60 USD) | 500 PAB (500 USD) |
If you lived in Ghana, instead of Panama, you would have to pay 8.32 times less for entertainment, recreation and fun activities.
Indicators | Ghana | Panama |
---|---|---|
Language Classes | 300 GHS (25.80 USD) | 150 PAB (150 USD) |
Parenting Classes | 150 GHS (12.90 USD) | 150 PAB (150 USD) |
Art Classes | 50 GHS (4.30 USD) | 25 PAB (25 USD) |
Fitness Classes | 20 GHS (1.72 USD) | 25 PAB (25 USD) |
Music Lessons | 60 GHS (5.16 USD) | 30 PAB (30 USD) |
Dance Lessons | 80 GHS (6.88 USD) | 30 PAB (30 USD) |
Reading Materials for Classes | 20 GHS (1.72 USD) | 8 PAB (8 USD) |
Educational Software | 200 GHS (17.20 USD) | 150 PAB (150 USD) |
If you lived in Ghana, instead of Panama, you would have to pay 7.51 times less for Private Classes.
Indicators | Ghana | Panama |
---|---|---|
Average Gross Monthly Salary | 4,000 GHS (344 USD) | 1,500 PAB (1,500 USD) |
Average Net Monthly Salary | 2,800 GHS (240.80 USD) | 1,200 PAB (1,200 USD) |
Minimum Wages | 60 GHS per hour (5.16 USD) | 20 PAB per hour (20 USD) |
Average Bonus | 400 GHS (34.40 USD) | 150 PAB (150 USD) |
Income Tax Rate | 0 to 12.5 % | 0 to 7 % |
Social Security Contributions | 6 % | 9 % |
Pension Contributions | 5 % | 10 % |
Cost of Living Index | 50 | 50 |
Median Household Income | 7,000 GHS (602 USD) | 1,200 PAB (1,200 USD) |
If you lived in Ghana, you would earn 3.32 times less salary as compared to Panama.
Indicators | Ghana | Panama |
---|---|---|
Legal Consultation Per Hour Rate | 150 GHS (12.90 USD) | 100 PAB (100 USD) |
Accounting Services Per Hour Rate | 120 GHS (10.32 USD) | 80 PAB (80 USD) |
IT Support Services Per Hour Rate | 90 GHS (7.74 USD) | 80 PAB (80 USD) |
Technician Services Per Hour Rate | 80 GHS (6.88 USD) | 60 PAB (60 USD) |
Professional Services cost 8.46 times less in Ghana, as compared to Panama.
We hope you enjoyed the detailed guide on the cost of living comparsion between Ghana and Panama.
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