Published: Monday, 21th October 2024
The cost of living in Panama is 2.14 times less expensive as compared to Belgium.
On this page, you will find side-by-side cost comparison between Panama and Belgium. 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 Panama and Belgium.
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Indicators | Panama | Belgium |
---|---|---|
1 BHK Apartment in City Center | 1,200 PAB (1,200 USD) | 942 EUR (1,047.60 USD) |
2 BHK Apartment in City Center | 2,000 PAB (2,000 USD) | 1,200 EUR (1,334.52 USD) |
3 BHK Apartment in City Center | 3,000 PAB (3,000 USD) | 1,500 EUR (1,668.15 USD) |
1 BHK Apartment outside City Center | 800 PAB (800 USD) | 800 EUR (889.68 USD) |
2 BHK Apartment outside City Center | 1,200 PAB (1,200 USD) | 1,000 EUR (1,112.10 USD) |
3 BHK Apartment outside City Center | 1,800 PAB (1,800 USD) | 1,200 EUR (1,334.52 USD) |
Mortgage Rates Per Month | 1.3 % | 3 % |
Realtor Commission | 5 % | 3 % |
Property Taxes | 0.6 to 1.0 % | 1.25 to 2.5 % |
The average housing cost in Panama is 1.35 times more expensive than Belgium.
Indicators | Panama | Belgium |
---|---|---|
Basic Home Furnishing | 3,000 PAB (3,000 USD) | 2,000 EUR (2,224.20 USD) |
Electricity Cost Per Month | 150 PAB (150 USD) | 50 EUR (55.61 USD) |
Heating Cost Per Month | 100 PAB (100 USD) | 60 EUR (66.73 USD) |
Cooling Cost Per Month | 80 PAB (80 USD) | 20 EUR (22.24 USD) |
Water Supply Cost Per Month | 60 PAB (60 USD) | 25 EUR (27.80 USD) |
If you lived in Panama, instead of Belgium, you would have to pay 41.45% more for Utilities.
The basic home furnishing in Panama costs 1.35 times more compared to Belgium.
Indicators | Panama | Belgium |
---|---|---|
Standard Wifi Cost Per Month | 70 PAB (70 USD) | 50 EUR (55.61 USD) |
Mobile Phone Basic Plan Cost Per Month | 50 PAB (50 USD) | 20 EUR (22.24 USD) |
Landline Basic Plan Cost Per Month | 30 PAB (30 USD) | 30 EUR (33.36 USD) |
Cable TV Basic Plan Cost Per Month | 80 PAB (80 USD) | 40 EUR (44.48 USD) |
The internet and communication costs 47.73% more in Panama compared to Belgium.
Indicators | Panama | Belgium |
---|---|---|
Long Grain Rice (1 KG) | 2 PAB (2 USD) | 1.80 EUR (2 USD) |
Milk (1 Liter) | 1.50 PAB (1.50 USD) | 1.41 EUR (1.57 USD) |
Water (1 Liter) | 0.50 PAB (0.50 USD) | 0.50 EUR (0.56 USD) |
Bread (500 gm) | 1 PAB (1 USD) | 2.07 EUR (2.30 USD) |
Eggs (1 Dozen) | 3 PAB (3 USD) | 3.93 EUR (4.37 USD) |
Cheese (1 KG) | 5 PAB (5 USD) | 8 EUR (8.90 USD) |
Chicken Breast (1 KG) | 7 PAB (7 USD) | 5.82 EUR (6.47 USD) |
In Panama, the cost of 1 Liter Water and 1 Liter Milk is 1.06 times less expensive than the cost in Belgium.
If you lived in Panama, instead of Belgium, you would have to pay 23.57% less for Groceries.
Indicators | Panama | Belgium |
---|---|---|
Apples (1 KG) | 3 PAB (3 USD) | 2.56 EUR (2.85 USD) |
Bananas (1 KG) | 1.50 PAB (1.50 USD) | 1.50 EUR (1.67 USD) |
Oranges (1 KG) | 2 PAB (2 USD) | 2.80 EUR (3.11 USD) |
Tomatoes (1 KG) | 2 PAB (2 USD) | 3.07 EUR (3.41 USD) |
Potatoes (1 KG) | 1 PAB (1 USD) | 1.91 EUR (2.12 USD) |
Lemons (1 KG) | 2.50 PAB (2.50 USD) | 2.50 EUR (2.78 USD) |
Onions (1 KG) | 1.50 PAB (1.50 USD) | 1.50 EUR (1.67 USD) |
Lentils (1 KG) | 2.50 PAB (2.50 USD) | 2.20 EUR (2.45 USD) |
If you lived in Panama, instead of Belgium, you would have to pay 1.25 times less for Fruits and Vegetables.
Indicators | Panama | Belgium |
---|---|---|
Meal at a Resonable Restaurant | 12 PAB (12 USD) | 20 EUR (22.24 USD) |
Three-Course Meal for Two | 30 PAB (30 USD) | 60 EUR (66.73 USD) |
Fast Food Combo Meal | 6 PAB (6 USD) | 10 EUR (11.12 USD) |
Normal Coffee | 2.50 PAB (2.50 USD) | 2.50 EUR (2.78 USD) |
Soft Drink | 1.50 PAB (1.50 USD) | 2 EUR (2.22 USD) |
Pizza for One | 12 PAB (12 USD) | 10 EUR (11.12 USD) |
Take-Out Delivery Meal | 10 PAB (10 USD) | 15 EUR (16.68 USD) |
Cigarette Pack of 20 | 6 PAB (6 USD) | 6.50 EUR (7.23 USD) |
Dining-Out costs 42.91% less in Panama compared to Belgium.
Indicators | Panama | Belgium |
---|---|---|
Wine Mid-Range Bottle | 15 PAB (15 USD) | 8 EUR (8.90 USD) |
Glass of Wine | 6 PAB (6 USD) | 5 EUR (5.56 USD) |
Domestic Beer Half Liter | 2.50 PAB (2.50 USD) | 1.50 EUR (1.67 USD) |
Imported Beer Half Liter | 4 PAB (4 USD) | 2 EUR (2.22 USD) |
Domestic Alcohol 1 Liter | 15 PAB (15 USD) | 15 EUR (16.68 USD) |
Branded Alcohol 1 Liter | 25 PAB (25 USD) | 20 EUR (22.24 USD) |
If you lived in Panama, instead of Belgium, you would have to pay 1.18 times more for usual hard drinks.
Indicators | Panama | Belgium |
---|---|---|
Monthly Public Transportation Pass | 50 PAB (50 USD) | 50 EUR (55.61 USD) |
Single Public Transportation Ticket | 1.50 PAB (1.50 USD) | 2.10 EUR (2.34 USD) |
Single Train Ticket | Yet to Update () | 10 EUR (11.12 USD) |
Domestic Airplane Ticket | 100 PAB (100 USD) | 100 EUR (111.21 USD) |
Taxi Start Fare | 3 PAB (3 USD) | 5 EUR (5.56 USD) |
Taxi Rate Per Kilometer | 1.50 PAB (1.50 USD) | 1.50 EUR (1.67 USD) |
Car Rental Per Day | 30 PAB (30 USD) | 50 EUR (55.61 USD) |
Parking Fees in City Center Per Hour | 2 PAB (2 USD) | 2.50 EUR (2.78 USD) |
Parking Fees outside City Center Per Hour | 1 PAB (1 USD) | 1 EUR (1.11 USD) |
If you lived in Panama, instead of Belgium, you would have to pay 1.31 times less for transportation.
Indicators | Panama | Belgium |
---|---|---|
Reasonable Vehicle Purchase Cost | 15,000 PAB (15,000 USD) | 20,000 EUR (22,242 USD) |
Vehicle Registration Cost | 80 PAB (80 USD) | 200 EUR (222.42 USD) |
Driving License Fees | 50 PAB (50 USD) | 50 EUR (55.61 USD) |
Car Insurance Cost | 400 PAB (400 USD) | 40 EUR (44.48 USD) |
Car Maintenance Cost | 150 PAB (150 USD) | 50 EUR (55.61 USD) |
Car Loan Interest Rates | 6 % | 4 % |
Fuel Per Liter | 1.20 PAB (1.20 USD) | 1.72 EUR (1.91 USD) |
Fuel Per Gallon | 4.50 PAB (4.50 USD) | 6.52 EUR (7.25 USD) |
Average Toll Fees | 5 PAB 5 USD | 5 EUR 5.56 USD |
You would have to pay 1.44 times less for Vehicle purchase, daily operation and maintenance in Panama compared to that of Belgium.
Indicators | Panama | Belgium |
---|---|---|
Doctor Visit | 50 PAB (50 USD) | 32 EUR (35.59 USD) |
Specialist Visit | 100 PAB (100 USD) | 50 EUR (55.61 USD) |
Dentist Visit | 70 PAB (70 USD) | 60 EUR (66.73 USD) |
Eye Exam | 50 PAB (50 USD) | 30 EUR (33.36 USD) |
Mental Health Counseling | 100 PAB (100 USD) | 70 EUR (77.85 USD) |
Preventive Health Screening | 50 PAB (50 USD) | 50 EUR (55.61 USD) |
Physical Therapy | 75 PAB (75 USD) | 50 EUR (55.61 USD) |
Emergency Room Visit | 300 PAB (300 USD) | 100 EUR (111.21 USD) |
Hospital Stay Per Night | 150 PAB (150 USD) | 200 EUR (222.42 USD) |
Vaccinations | 30 PAB (30 USD) | 20 EUR (22.24 USD) |
Prescription Medication | 20 PAB (20 USD) | 10 EUR (11.12 USD) |
Over the Counter Medication | 10 PAB (10 USD) | 5 EUR (5.56 USD) |
Health Insurance Premiums | 150 PAB (150 USD) | 100 EUR (111.21 USD) |
Health Insurance Deductibles | 75 PAB (75 USD) | 500 EUR (556.05 USD) |
If you lived in Panama, instead of Belgium, you would have to pay 1.15 times less for Health and Medical Treatment.
Indicators | Panama | Belgium |
---|---|---|
Cosmetic Procedures | 200 PAB (200 USD) | 500 EUR (556.05 USD) |
Spa Treatment | 75 PAB (75 USD) | 60 EUR (66.73 USD) |
Manicure Pedicure Cost | 30 PAB (30 USD) | 30 EUR (33.36 USD) |
Optical Glasses Cost | 80 PAB (80 USD) | 100 EUR (111.21 USD) |
Contact Lenses Cost | 40 PAB (40 USD) | 50 EUR (55.61 USD) |
Haircuts | 15 PAB (15 USD) | 20 EUR (22.24 USD) |
Hair Coloring | 40 PAB (40 USD) | 50 EUR (55.61 USD) |
Shampoo Price | 5 PAB (5 USD) | 4.92 EUR (5.47 USD) |
Toothpaste Price | 2 PAB (2 USD) | 2.50 EUR (2.78 USD) |
If you lived in Panama, instead of Belgium, you would have to pay 1.87 times less for Personal Care Items and Treatment.
Indicators | Panama | Belgium |
---|---|---|
Pair of Nike Running Shoes | 80 PAB (80 USD) | 99 EUR (110.10 USD) |
Men's Shirt | 25 PAB (25 USD) | 50 EUR (55.61 USD) |
Women's Dress | 40 PAB (40 USD) | 42 EUR (46.71 USD) |
Summer Dress | 30 PAB (30 USD) | 30 EUR (33.36 USD) |
Men's Suit | 100 PAB (100 USD) | 200 EUR (222.42 USD) |
Men's Jeans | 40 PAB (40 USD) | 93 EUR (103.43 USD) |
Women's Jeans | 30 PAB (30 USD) | 50 EUR (55.61 USD) |
Men's Formal Shoes | 80 PAB (80 USD) | 129 EUR (143.46 USD) |
Women's Formal Shoes | 80 PAB (80 USD) | 100 EUR (111.21 USD) |
Men's Casual Shoes | 50 PAB (50 USD) | 80 EUR (88.97 USD) |
Women's Casual Shoes | 50 PAB (50 USD) | 70 EUR (77.85 USD) |
Underwear For Men | 8 PAB (8 USD) | 10 EUR (11.12 USD) |
Underwear For Women | 12 PAB (12 USD) | 10 EUR (11.12 USD) |
Socks For Men | 3 PAB (3 USD) | 5 EUR (5.56 USD) |
Socks For Women | 3 PAB (3 USD) | 5 EUR (5.56 USD) |
Wintercoat for Adults | 80 PAB (80 USD) | 100 EUR (111.21 USD) |
Sportswear | 40 PAB (40 USD) | 50 EUR (55.61 USD) |
If you lived in Panama, instead of Belgium, you would have to pay 1.66 times less for Clothing and Footwear for Adults.
Indicators | Panama | Belgium |
---|---|---|
Children's Jeans | 20 PAB (20 USD) | 30 EUR (33.36 USD) |
Children's Normal Sneakers | 30 PAB (30 USD) | 40 EUR (44.48 USD) |
Children's Winter Coat | 40 PAB (40 USD) | 50 EUR (55.61 USD) |
Daycare for Infant | 200 PAB (200 USD) | 600 EUR (667.26 USD) |
Daycare for Toddler | 150 PAB (150 USD) | 500 EUR (556.05 USD) |
Childcare for Sick Days | 30 PAB (30 USD) | 60 EUR (66.73 USD) |
Early Childhood Education Programs | 150 PAB (150 USD) | 500 EUR (556.05 USD) |
Extra Curricular Activities | 100 PAB (100 USD) | 30 EUR (33.36 USD) |
Summer Camp for Kids | 150 PAB (150 USD) | 300 EUR (333.63 USD) |
If you lived in Panama, instead of Belgium, you would have to pay 2.70 times less for Childcare and kids clothing.
Indicators | Panama | Belgium |
---|---|---|
PreSchool Fees | 250 PAB (250 USD) | 400 EUR (444.84 USD) |
Primary School Fees | 400 PAB (400 USD) | 300 EUR (333.63 USD) |
Secondary School Fees | 600 PAB (600 USD) | 400 EUR (444.84 USD) |
Private School Fees | 1,000 PAB (1,000 USD) | 1,000 EUR (1,112.10 USD) |
University Tuition Fees | 2,500 PAB (2,500 USD) | 1,000 EUR (1,112.10 USD) |
University Private Tuition Fees | 3,500 PAB (3,500 USD) | 5,000 EUR (5,560.50 USD) |
After School Activities | 75 PAB (75 USD) | 50 EUR (55.61 USD) |
Special Education Services | 200 PAB (200 USD) | 200 EUR (222.42 USD) |
Tutoring | 30 PAB (30 USD) | 25 EUR (27.80 USD) |
Textbooks Cost | 50 PAB (50 USD) | 100 EUR (111.21 USD) |
School Supplies | 30 PAB (30 USD) | 50 EUR (55.61 USD) |
If you lived in Panama, instead of Belgium, you would have to pay 1.10 times less for school and education.
Indicators | Panama | Belgium |
---|---|---|
Movie Ticket (Single) | 8 PAB (8 USD) | 12 EUR (13.35 USD) |
Theater Ticket (Single) | 15 PAB (15 USD) | 20 EUR (22.24 USD) |
Concert Ticket (Single) | 25 PAB (25 USD) | 50 EUR (55.61 USD) |
Sports Event Ticket (Single) | 15 PAB (15 USD) | 30 EUR (33.36 USD) |
Gym Membership | 40 PAB (40 USD) | 30 EUR (33.36 USD) |
Swimming Pool Access | 25 PAB (25 USD) | 10 EUR (11.12 USD) |
Museum Entry Ticket | 8 PAB (8 USD) | 10 EUR (11.12 USD) |
Zoo Entry Ticket | 12 PAB (12 USD) | 15 EUR (16.68 USD) |
Amusement Park Entry Ticket | 20 PAB (20 USD) | 30 EUR (33.36 USD) |
Bowling | 15 PAB (15 USD) | 10 EUR (11.12 USD) |
Mini Golf | 12 PAB (12 USD) | 8 EUR (8.90 USD) |
Video Games | 40 PAB (40 USD) | 50 EUR (55.61 USD) |
Streaming Services | 12 PAB (12 USD) | 10 EUR (11.12 USD) |
Outdoor Equipment Rental | 15 PAB (15 USD) | 20 EUR (22.24 USD) |
Theme Park Annual Pass | 500 PAB (500 USD) | 100 EUR (111.21 USD) |
If you lived in Panama, instead of Belgium, you would have to pay 1.69 times more for entertainment, recreation and fun activities.
Indicators | Panama | Belgium |
---|---|---|
Language Classes | 150 PAB (150 USD) | 100 EUR (111.21 USD) |
Parenting Classes | 150 PAB (150 USD) | 20 EUR (22.24 USD) |
Art Classes | 25 PAB (25 USD) | 25 EUR (27.80 USD) |
Fitness Classes | 25 PAB (25 USD) | 15 EUR (16.68 USD) |
Music Lessons | 30 PAB (30 USD) | 30 EUR (33.36 USD) |
Dance Lessons | 30 PAB (30 USD) | 20 EUR (22.24 USD) |
Reading Materials for Classes | 8 PAB (8 USD) | 10 EUR (11.12 USD) |
Educational Software | 150 PAB (150 USD) | 50 EUR (55.61 USD) |
If you lived in Panama, instead of Belgium, you would have to pay 1.89 times more for Private Classes.
Indicators | Panama | Belgium |
---|---|---|
Average Gross Monthly Salary | 1,500 PAB (1,500 USD) | 3,500 EUR (3,892.35 USD) |
Average Net Monthly Salary | 1,200 PAB (1,200 USD) | 2,500 EUR (2,780.25 USD) |
Minimum Wages | 20 PAB per hour (20 USD) | 53.33 EUR per hour (59.31 USD) |
Average Bonus | 150 PAB (150 USD) | 5,000 EUR (5,560.50 USD) |
Income Tax Rate | 0 to 7 % | 0 to 21 % |
Social Security Contributions | 9 % | 13.07 % |
Pension Contributions | 10 % | 8.86 % |
Cost of Living Index | 50 | 75 |
Median Household Income | 1,200 PAB (1,200 USD) | 35,000 EUR (38,923.50 USD) |
If you lived in Panama, you would earn 12.58 times less salary as compared to Belgium.
Indicators | Panama | Belgium |
---|---|---|
Legal Consultation Per Hour Rate | 100 PAB (100 USD) | 100 EUR (111.21 USD) |
Accounting Services Per Hour Rate | 80 PAB (80 USD) | 70 EUR (77.85 USD) |
IT Support Services Per Hour Rate | 80 PAB (80 USD) | 60 EUR (66.73 USD) |
Technician Services Per Hour Rate | 60 PAB (60 USD) | 50 EUR (55.61 USD) |
Professional Services cost 1.03 times more in Panama, as compared to Belgium.
We hope you enjoyed the detailed guide on the cost of living comparsion between Panama and Belgium.
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