Published: Monday, 21th October 2024
The cost of living in Jamaica is 1.47 times less expensive as compared to Panama.
On this page, you will find side-by-side cost comparison between Jamaica 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 Jamaica and Panama.
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Indicators | Jamaica | Panama |
---|---|---|
1 BHK Apartment in City Center | 110,000 JMD (704 USD) | 1,200 PAB (1,200 USD) |
2 BHK Apartment in City Center | 180,000 JMD (1,152 USD) | 2,000 PAB (2,000 USD) |
3 BHK Apartment in City Center | 250,000 JMD (1,600 USD) | 3,000 PAB (3,000 USD) |
1 BHK Apartment outside City Center | 60,000 JMD (384 USD) | 800 PAB (800 USD) |
2 BHK Apartment outside City Center | 90,000 JMD (576 USD) | 1,200 PAB (1,200 USD) |
3 BHK Apartment outside City Center | 130,000 JMD (832 USD) | 1,800 PAB (1,800 USD) |
Mortgage Rates Per Month | 8 % | 1.3 % |
Realtor Commission | 3 % | 5 % |
Property Taxes | 0.5 to 1.5 % | 0.6 to 1.0 % |
The average housing cost in Jamaica is 1.87 times less expensive than Panama.
Indicators | Jamaica | Panama |
---|---|---|
Basic Home Furnishing | 250,000 JMD (1,600 USD) | 3,000 PAB (3,000 USD) |
Electricity Cost Per Month | 7,000 JMD (44.80 USD) | 150 PAB (150 USD) |
Heating Cost Per Month | 3,000 JMD (19.20 USD) | 100 PAB (100 USD) |
Cooling Cost Per Month | 6,000 JMD (38.40 USD) | 80 PAB (80 USD) |
Water Supply Cost Per Month | 2,500 JMD (16 USD) | 60 PAB (60 USD) |
If you lived in Jamaica, instead of Panama, you would have to pay 49.31% less for Utilities.
The basic home furnishing in Jamaica costs 1.88 times less compared to Panama.
Indicators | Jamaica | Panama |
---|---|---|
Standard Wifi Cost Per Month | 5,000 JMD (32 USD) | 70 PAB (70 USD) |
Mobile Phone Basic Plan Cost Per Month | 3,000 JMD (19.20 USD) | 50 PAB (50 USD) |
Landline Basic Plan Cost Per Month | 1,500 JMD (9.60 USD) | 30 PAB (30 USD) |
Cable TV Basic Plan Cost Per Month | 4,000 JMD (25.60 USD) | 80 PAB (80 USD) |
The internet and communication costs 62.43% less in Jamaica compared to Panama.
Indicators | Jamaica | Panama |
---|---|---|
Long Grain Rice (1 KG) | 350 JMD (2.24 USD) | 2 PAB (2 USD) |
Milk (1 Liter) | 250 JMD (1.60 USD) | 1.50 PAB (1.50 USD) |
Water (1 Liter) | 70 JMD (0.45 USD) | 0.50 PAB (0.50 USD) |
Bread (500 gm) | 150 JMD (0.96 USD) | 1 PAB (1 USD) |
Eggs (1 Dozen) | 300 JMD (1.92 USD) | 3 PAB (3 USD) |
Cheese (1 KG) | 800 JMD (5.12 USD) | 5 PAB (5 USD) |
Chicken Breast (1 KG) | 1,200 JMD (7.68 USD) | 7 PAB (7 USD) |
In Jamaica, the cost of 1 Liter Water and 1 Liter Milk is 1.02 times more expensive than the cost in Panama.
If you lived in Jamaica, instead of Panama, you would have to pay 0.16% less for Groceries.
Indicators | Jamaica | Panama |
---|---|---|
Apples (1 KG) | 500 JMD (3.20 USD) | 3 PAB (3 USD) |
Bananas (1 KG) | 200 JMD (1.28 USD) | 1.50 PAB (1.50 USD) |
Oranges (1 KG) | 300 JMD (1.92 USD) | 2 PAB (2 USD) |
Tomatoes (1 KG) | 250 JMD (1.60 USD) | 2 PAB (2 USD) |
Potatoes (1 KG) | 200 JMD (1.28 USD) | 1 PAB (1 USD) |
Lemons (1 KG) | 350 JMD (2.24 USD) | 2.50 PAB (2.50 USD) |
Onions (1 KG) | 250 JMD (1.60 USD) | 1.50 PAB (1.50 USD) |
Lentils (1 KG) | 400 JMD (2.56 USD) | 2.50 PAB (2.50 USD) |
If you lived in Jamaica, instead of Panama, you would have to pay 1.02 times less for Fruits and Vegetables.
Indicators | Jamaica | Panama |
---|---|---|
Meal at a Resonable Restaurant | 2,000 JMD (12.80 USD) | 12 PAB (12 USD) |
Three-Course Meal for Two | 6,000 JMD (38.40 USD) | 30 PAB (30 USD) |
Fast Food Combo Meal | 1,200 JMD (7.68 USD) | 6 PAB (6 USD) |
Normal Coffee | 300 JMD (1.92 USD) | 2.50 PAB (2.50 USD) |
Soft Drink | 150 JMD (0.96 USD) | 1.50 PAB (1.50 USD) |
Pizza for One | 1,500 JMD (9.60 USD) | 12 PAB (12 USD) |
Take-Out Delivery Meal | 2,500 JMD (16 USD) | 10 PAB (10 USD) |
Cigarette Pack of 20 | 800 JMD (5.12 USD) | 6 PAB (6 USD) |
Dining-Out costs 15.60% more in Jamaica compared to Panama.
Indicators | Jamaica | Panama |
---|---|---|
Wine Mid-Range Bottle | 2,500 JMD (16 USD) | 15 PAB (15 USD) |
Glass of Wine | 700 JMD (4.48 USD) | 6 PAB (6 USD) |
Domestic Beer Half Liter | 200 JMD (1.28 USD) | 2.50 PAB (2.50 USD) |
Imported Beer Half Liter | 300 JMD (1.92 USD) | 4 PAB (4 USD) |
Domestic Alcohol 1 Liter | 1,500 JMD (9.60 USD) | 15 PAB (15 USD) |
Branded Alcohol 1 Liter | 3,000 JMD (19.20 USD) | 25 PAB (25 USD) |
If you lived in Jamaica, instead of Panama, you would have to pay 1.29 times less for usual hard drinks.
Indicators | Jamaica | Panama |
---|---|---|
Monthly Public Transportation Pass | 4,000 JMD (25.60 USD) | 50 PAB (50 USD) |
Single Public Transportation Ticket | 150 JMD (0.96 USD) | 1.50 PAB (1.50 USD) |
Single Train Ticket | Yet to Update () | Yet to Update () |
Domestic Airplane Ticket | 20,000 JMD (128 USD) | 100 PAB (100 USD) |
Taxi Start Fare | 400 JMD (2.56 USD) | 3 PAB (3 USD) |
Taxi Rate Per Kilometer | 100 JMD (0.64 USD) | 1.50 PAB (1.50 USD) |
Car Rental Per Day | 6,000 JMD (38.40 USD) | 30 PAB (30 USD) |
Parking Fees in City Center Per Hour | 200 JMD (1.28 USD) | 2 PAB (2 USD) |
Parking Fees outside City Center Per Hour | 100 JMD (0.64 USD) | 1 PAB (1 USD) |
If you lived in Jamaica, instead of Panama, you would have to pay 1.05 times more for transportation.
Indicators | Jamaica | Panama |
---|---|---|
Reasonable Vehicle Purchase Cost | 2,500,000 JMD (16,000 USD) | 15,000 PAB (15,000 USD) |
Vehicle Registration Cost | 10,000 JMD (64 USD) | 80 PAB (80 USD) |
Driving License Fees | 5,000 JMD (32 USD) | 50 PAB (50 USD) |
Car Insurance Cost | 50,000 JMD (320 USD) | 400 PAB (400 USD) |
Car Maintenance Cost | 10,000 JMD (64 USD) | 150 PAB (150 USD) |
Car Loan Interest Rates | 10 % | 6 % |
Fuel Per Liter | 200 JMD (1.28 USD) | 1.20 PAB (1.20 USD) |
Fuel Per Gallon | 750 JMD (4.80 USD) | 4.50 PAB (4.50 USD) |
Average Toll Fees | 500 JMD 3.20 USD | 5 PAB 5 USD |
You would have to pay 1.05 times more for Vehicle purchase, daily operation and maintenance in Jamaica compared to that of Panama.
Indicators | Jamaica | Panama |
---|---|---|
Doctor Visit | 3,000 JMD (19.20 USD) | 50 PAB (50 USD) |
Specialist Visit | 5,000 JMD (32 USD) | 100 PAB (100 USD) |
Dentist Visit | 4,000 JMD (25.60 USD) | 70 PAB (70 USD) |
Eye Exam | 2,000 JMD (12.80 USD) | 50 PAB (50 USD) |
Mental Health Counseling | 3,500 JMD (22.40 USD) | 100 PAB (100 USD) |
Preventive Health Screening | 2,000 JMD (12.80 USD) | 50 PAB (50 USD) |
Physical Therapy | 2,500 JMD (16 USD) | 75 PAB (75 USD) |
Emergency Room Visit | 10,000 JMD (64 USD) | 300 PAB (300 USD) |
Hospital Stay Per Night | 8,000 JMD (51.20 USD) | 150 PAB (150 USD) |
Vaccinations | 1,000 JMD (6.40 USD) | 30 PAB (30 USD) |
Prescription Medication | 1,500 JMD (9.60 USD) | 20 PAB (20 USD) |
Over the Counter Medication | 500 JMD (3.20 USD) | 10 PAB (10 USD) |
Health Insurance Premiums | 50,000 JMD (320 USD) | 150 PAB (150 USD) |
Health Insurance Deductibles | 10,000 JMD (64 USD) | 75 PAB (75 USD) |
If you lived in Jamaica, instead of Panama, you would have to pay 1.87 times less for Health and Medical Treatment.
Indicators | Jamaica | Panama |
---|---|---|
Cosmetic Procedures | 10,000 JMD (64 USD) | 200 PAB (200 USD) |
Spa Treatment | 5,000 JMD (32 USD) | 75 PAB (75 USD) |
Manicure Pedicure Cost | 1,500 JMD (9.60 USD) | 30 PAB (30 USD) |
Optical Glasses Cost | 2,500 JMD (16 USD) | 80 PAB (80 USD) |
Contact Lenses Cost | 4,000 JMD (25.60 USD) | 40 PAB (40 USD) |
Haircuts | 1,000 JMD (6.40 USD) | 15 PAB (15 USD) |
Hair Coloring | 3,000 JMD (19.20 USD) | 40 PAB (40 USD) |
Shampoo Price | 300 JMD (1.92 USD) | 5 PAB (5 USD) |
Toothpaste Price | 200 JMD (1.28 USD) | 2 PAB (2 USD) |
If you lived in Jamaica, instead of Panama, you would have to pay 2.77 times less for Personal Care Items and Treatment.
Indicators | Jamaica | Panama |
---|---|---|
Pair of Nike Running Shoes | 8,000 JMD (51.20 USD) | 80 PAB (80 USD) |
Men's Shirt | 3,000 JMD (19.20 USD) | 25 PAB (25 USD) |
Women's Dress | 4,500 JMD (28.80 USD) | 40 PAB (40 USD) |
Summer Dress | 3,000 JMD (19.20 USD) | 30 PAB (30 USD) |
Men's Suit | 15,000 JMD (96 USD) | 100 PAB (100 USD) |
Men's Jeans | 4,000 JMD (25.60 USD) | 40 PAB (40 USD) |
Women's Jeans | 3,500 JMD (22.40 USD) | 30 PAB (30 USD) |
Men's Formal Shoes | 8,000 JMD (51.20 USD) | 80 PAB (80 USD) |
Women's Formal Shoes | 6,000 JMD (38.40 USD) | 80 PAB (80 USD) |
Men's Casual Shoes | 5,000 JMD (32 USD) | 50 PAB (50 USD) |
Women's Casual Shoes | 4,000 JMD (25.60 USD) | 50 PAB (50 USD) |
Underwear For Men | 800 JMD (5.12 USD) | 8 PAB (8 USD) |
Underwear For Women | 800 JMD (5.12 USD) | 12 PAB (12 USD) |
Socks For Men | 200 JMD (1.28 USD) | 3 PAB (3 USD) |
Socks For Women | 200 JMD (1.28 USD) | 3 PAB (3 USD) |
Wintercoat for Adults | 6,000 JMD (38.40 USD) | 80 PAB (80 USD) |
Sportswear | 3,500 JMD (22.40 USD) | 40 PAB (40 USD) |
If you lived in Jamaica, instead of Panama, you would have to pay 1.55 times less for Clothing and Footwear for Adults.
Indicators | Jamaica | Panama |
---|---|---|
Children's Jeans | 2,500 JMD (16 USD) | 20 PAB (20 USD) |
Children's Normal Sneakers | 3,000 JMD (19.20 USD) | 30 PAB (30 USD) |
Children's Winter Coat | 4,000 JMD (25.60 USD) | 40 PAB (40 USD) |
Daycare for Infant | 30,000 JMD (192 USD) | 200 PAB (200 USD) |
Daycare for Toddler | 25,000 JMD (160 USD) | 150 PAB (150 USD) |
Childcare for Sick Days | 1,500 JMD (9.60 USD) | 30 PAB (30 USD) |
Early Childhood Education Programs | 15,000 JMD (96 USD) | 150 PAB (150 USD) |
Extra Curricular Activities | 3,000 JMD (19.20 USD) | 100 PAB (100 USD) |
Summer Camp for Kids | 10,000 JMD (64 USD) | 150 PAB (150 USD) |
If you lived in Jamaica, instead of Panama, you would have to pay 1.45 times less for Childcare and kids clothing.
Indicators | Jamaica | Panama |
---|---|---|
PreSchool Fees | 20,000 JMD (128 USD) | 250 PAB (250 USD) |
Primary School Fees | 50,000 JMD (320 USD) | 400 PAB (400 USD) |
Secondary School Fees | 60,000 JMD (384 USD) | 600 PAB (600 USD) |
Private School Fees | 100,000 JMD (640 USD) | 1,000 PAB (1,000 USD) |
University Tuition Fees | 80,000 JMD (512 USD) | 2,500 PAB (2,500 USD) |
University Private Tuition Fees | 200,000 JMD (1,280 USD) | 3,500 PAB (3,500 USD) |
After School Activities | 5,000 JMD (32 USD) | 75 PAB (75 USD) |
Special Education Services | 7,000 JMD (44.80 USD) | 200 PAB (200 USD) |
Tutoring | 2,000 JMD (12.80 USD) | 30 PAB (30 USD) |
Textbooks Cost | 5,000 JMD (32 USD) | 50 PAB (50 USD) |
School Supplies | 2,000 JMD (12.80 USD) | 30 PAB (30 USD) |
If you lived in Jamaica, instead of Panama, you would have to pay 2.54 times less for school and education.
Indicators | Jamaica | Panama |
---|---|---|
Movie Ticket (Single) | 1,200 JMD (7.68 USD) | 8 PAB (8 USD) |
Theater Ticket (Single) | 2,000 JMD (12.80 USD) | 15 PAB (15 USD) |
Concert Ticket (Single) | 3,000 JMD (19.20 USD) | 25 PAB (25 USD) |
Sports Event Ticket (Single) | 2,500 JMD (16 USD) | 15 PAB (15 USD) |
Gym Membership | 2,500 JMD (16 USD) | 40 PAB (40 USD) |
Swimming Pool Access | 1,500 JMD (9.60 USD) | 25 PAB (25 USD) |
Museum Entry Ticket | 1,000 JMD (6.40 USD) | 8 PAB (8 USD) |
Zoo Entry Ticket | 1,200 JMD (7.68 USD) | 12 PAB (12 USD) |
Amusement Park Entry Ticket | 2,000 JMD (12.80 USD) | 20 PAB (20 USD) |
Bowling | 1,000 JMD (6.40 USD) | 15 PAB (15 USD) |
Mini Golf | 800 JMD (5.12 USD) | 12 PAB (12 USD) |
Video Games | 4,000 JMD (25.60 USD) | 40 PAB (40 USD) |
Streaming Services | 1,500 JMD (9.60 USD) | 12 PAB (12 USD) |
Outdoor Equipment Rental | 1,500 JMD (9.60 USD) | 15 PAB (15 USD) |
Theme Park Annual Pass | 10,000 JMD (64 USD) | 500 PAB (500 USD) |
If you lived in Jamaica, instead of Panama, you would have to pay 3.34 times less for entertainment, recreation and fun activities.
Indicators | Jamaica | Panama |
---|---|---|
Language Classes | 5,000 JMD (32 USD) | 150 PAB (150 USD) |
Parenting Classes | 2,000 JMD (12.80 USD) | 150 PAB (150 USD) |
Art Classes | 2,000 JMD (12.80 USD) | 25 PAB (25 USD) |
Fitness Classes | 1,500 JMD (9.60 USD) | 25 PAB (25 USD) |
Music Lessons | 3,000 JMD (19.20 USD) | 30 PAB (30 USD) |
Dance Lessons | 2,500 JMD (16 USD) | 30 PAB (30 USD) |
Reading Materials for Classes | 1,000 JMD (6.40 USD) | 8 PAB (8 USD) |
Educational Software | 3,000 JMD (19.20 USD) | 150 PAB (150 USD) |
If you lived in Jamaica, instead of Panama, you would have to pay 4.44 times less for Private Classes.
Indicators | Jamaica | Panama |
---|---|---|
Average Gross Monthly Salary | 150,000 JMD (960 USD) | 1,500 PAB (1,500 USD) |
Average Net Monthly Salary | 100,000 JMD (640 USD) | 1,200 PAB (1,200 USD) |
Minimum Wages | 333.33 JMD per hour (2.13 USD) | 20 PAB per hour (20 USD) |
Average Bonus | 10,000 JMD (64 USD) | 150 PAB (150 USD) |
Income Tax Rate | 0 to 15 % | 0 to 7 % |
Social Security Contributions | 8 % | 9 % |
Pension Contributions | 5 % | 10 % |
Cost of Living Index | 50 | 50 |
Median Household Income | 200,000 JMD (1,280 USD) | 1,200 PAB (1,200 USD) |
If you lived in Jamaica, you would earn 1.38 times less salary as compared to Panama.
Indicators | Jamaica | Panama |
---|---|---|
Legal Consultation Per Hour Rate | 5,000 JMD (32 USD) | 100 PAB (100 USD) |
Accounting Services Per Hour Rate | 3,500 JMD (22.40 USD) | 80 PAB (80 USD) |
IT Support Services Per Hour Rate | 4,000 JMD (25.60 USD) | 80 PAB (80 USD) |
Technician Services Per Hour Rate | 4,500 JMD (28.80 USD) | 60 PAB (60 USD) |
Professional Services cost 2.94 times less in Jamaica, as compared to Panama.
We hope you enjoyed the detailed guide on the cost of living comparsion between Jamaica and Panama.
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