Published: Monday, 21th October 2024
The cost of living in Panama is 2.52 times less expensive as compared to United Kingdom.
On this page, you will find side-by-side cost comparison between Panama and United Kingdom. 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 United Kingdom.
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 Indicators  | Panama  | United Kingdom  |
|---|---|---|
1 BHK Apartment in City Center  | 1,200 PAB (1,200 USD) | 1,800 GBP (2,286 USD) |
2 BHK Apartment in City Center  | 2,000 PAB (2,000 USD) | 2,800 GBP (3,556 USD) |
3 BHK Apartment in City Center  | 3,000 PAB (3,000 USD) | 3,800 GBP (4,826 USD) |
1 BHK Apartment outside City Center  | 800 PAB (800 USD) | 1,200 GBP (1,524 USD) |
2 BHK Apartment outside City Center  | 1,200 PAB (1,200 USD) | 1,800 GBP (2,286 USD) |
3 BHK Apartment outside City Center  | 1,800 PAB (1,800 USD) | 2,500 GBP (3,175 USD) |
Mortgage Rates Per Month  | 1.3 % | 3 % |
Realtor Commission  | 5 % | 1.5 % |
Property Taxes  | 0.6 to 1.0 % | 0.5 to 2.0 % |
The average housing cost in Panama is 1.77 times less expensive than United Kingdom.
Indicators | Panama | United Kingdom |
|---|---|---|
Basic Home Furnishing  | 3,000 PAB (3,000 USD) | 2,000 GBP (2,540 USD) |
Electricity Cost Per Month  | 150 PAB (150 USD) | 120 GBP (152.40 USD) |
Heating Cost Per Month  | 100 PAB (100 USD) | 100 GBP (127 USD) |
Cooling Cost Per Month  | 80 PAB (80 USD) | 50 GBP (63.50 USD) |
Water Supply Cost Per Month  | 60 PAB (60 USD) | 40 GBP (50.80 USD) |
If you lived in Panama, instead of United Kingdom, you would have to pay 15.55% more for Utilities.
The basic home furnishing in Panama costs 1.18 times more compared to United Kingdom.
Indicators | Panama | United Kingdom |
|---|---|---|
Standard Wifi Cost Per Month  | 70 PAB (70 USD) | 30 GBP (38.10 USD) |
Mobile Phone Basic Plan Cost Per Month  | 50 PAB (50 USD) | 20 GBP (25.40 USD) |
Landline Basic Plan Cost Per Month  | 30 PAB (30 USD) | 20 GBP (25.40 USD) |
Cable TV Basic Plan Cost Per Month  | 80 PAB (80 USD) | 50 GBP (63.50 USD) |
The internet and communication costs 50.92% more in Panama compared to United Kingdom.
Indicators | Panama | United Kingdom |
|---|---|---|
Long Grain Rice (1 KG)  | 2 PAB (2 USD) | 2.50 GBP (3.17 USD) |
Milk (1 Liter)  | 1.50 PAB (1.50 USD) | 1.20 GBP (1.52 USD) |
Water (1 Liter)  | 0.50 PAB (0.50 USD) | 0.80 GBP (1.02 USD) |
Bread (500 gm)  | 1 PAB (1 USD) | 1 GBP (1.27 USD) |
Eggs (1 Dozen)  | 3 PAB (3 USD) | 2.50 GBP (3.17 USD) |
Cheese (1 KG)  | 5 PAB (5 USD) | 5 GBP (6.35 USD) |
Chicken Breast (1 KG)  | 7 PAB (7 USD) | 8 GBP (10.16 USD) |
In Panama, the cost of 1 Liter Water and 1 Liter Milk is 1.27 times less expensive than the cost in United Kingdom.
If you lived in Panama, instead of United Kingdom, you would have to pay 25.01% less for Groceries.
Indicators | Panama | United Kingdom |
|---|---|---|
Apples (1 KG)  | 3 PAB (3 USD) | 2 GBP (2.54 USD) |
Bananas (1 KG)  | 1.50 PAB (1.50 USD) | 1.20 GBP (1.52 USD) |
Oranges (1 KG)  | 2 PAB (2 USD) | 2 GBP (2.54 USD) |
Tomatoes (1 KG)  | 2 PAB (2 USD) | 2 GBP (2.54 USD) |
Potatoes (1 KG)  | 1 PAB (1 USD) | 1 GBP (1.27 USD) |
Lemons (1 KG)  | 2.50 PAB (2.50 USD) | 2 GBP (2.54 USD) |
Onions (1 KG)  | 1.50 PAB (1.50 USD) | 1.50 GBP (1.91 USD) |
Lentils (1 KG)  | 2.50 PAB (2.50 USD) | 2.50 GBP (3.17 USD) |
If you lived in Panama, instead of United Kingdom, you would have to pay 1.13 times less for Fruits and Vegetables.
Indicators | Panama | United Kingdom |
|---|---|---|
Meal at a Resonable Restaurant  | 12 PAB (12 USD) | 15 GBP (19.05 USD) |
Three-Course Meal for Two  | 30 PAB (30 USD) | 50 GBP (63.50 USD) |
Fast Food Combo Meal  | 6 PAB (6 USD) | 6 GBP (7.62 USD) |
Normal Coffee  | 2.50 PAB (2.50 USD) | 3 GBP (3.81 USD) |
Soft Drink  | 1.50 PAB (1.50 USD) | 1.50 GBP (1.91 USD) |
Pizza for One  | 12 PAB (12 USD) | 10 GBP (12.70 USD) |
Take-Out Delivery Meal  | 10 PAB (10 USD) | 15 GBP (19.05 USD) |
Cigarette Pack of 20  | 6 PAB (6 USD) | 12 GBP (15.24 USD) |
Dining-Out costs 44.01% less in Panama compared to United Kingdom.
Indicators | Panama | United Kingdom |
|---|---|---|
Wine Mid-Range Bottle  | 15 PAB (15 USD) | 8 GBP (10.16 USD) |
Glass of Wine  | 6 PAB (6 USD) | 5 GBP (6.35 USD) |
Domestic Beer Half Liter  | 2.50 PAB (2.50 USD) | 2 GBP (2.54 USD) |
Imported Beer Half Liter  | 4 PAB (4 USD) | 3 GBP (3.81 USD) |
Domestic Alcohol 1 Liter  | 15 PAB (15 USD) | 15 GBP (19.05 USD) |
Branded Alcohol 1 Liter  | 25 PAB (25 USD) | 25 GBP (31.75 USD) |
If you lived in Panama, instead of United Kingdom, you would have to pay 1.09 times less for usual hard drinks.
Indicators | Panama | United Kingdom |
|---|---|---|
Monthly Public Transportation Pass  | 50 PAB (50 USD) | 140 GBP (177.80 USD) |
Single Public Transportation Ticket  | 1.50 PAB (1.50 USD) | 2.50 GBP (3.17 USD) |
Single Train Ticket  | Yet to Update () | 50 GBP (63.50 USD) |
Domestic Airplane Ticket  | 100 PAB (100 USD) | 150 GBP (190.50 USD) |
Taxi Start Fare  | 3 PAB (3 USD) | 3 GBP (3.81 USD) |
Taxi Rate Per Kilometer  | 1.50 PAB (1.50 USD) | 2 GBP (2.54 USD) |
Car Rental Per Day  | 30 PAB (30 USD) | 40 GBP (50.80 USD) |
Parking Fees in City Center Per Hour  | 2 PAB (2 USD) | 3 GBP (3.81 USD) |
Parking Fees outside City Center Per Hour  | 1 PAB (1 USD) | 1.50 GBP (1.91 USD) |
If you lived in Panama, instead of United Kingdom, you would have to pay 2.63 times less for transportation.
Indicators | Panama | United Kingdom |
|---|---|---|
Reasonable Vehicle Purchase Cost  | 15,000 PAB (15,000 USD) | 20,000 GBP (25,400 USD) |
Vehicle Registration Cost  | 80 PAB (80 USD) | 200 GBP (254 USD) |
Driving License Fees  | 50 PAB (50 USD) | 50 GBP (63.50 USD) |
Car Insurance Cost  | 400 PAB (400 USD) | 600 GBP (762 USD) |
Car Maintenance Cost  | 150 PAB (150 USD) | 150 GBP (190.50 USD) |
Car Loan Interest Rates  | 6 % | 5 % |
Fuel Per Liter  | 1.20 PAB (1.20 USD) | 1.40 GBP (1.78 USD) |
Fuel Per Gallon  | 4.50 PAB (4.50 USD) | 6.50 GBP (8.26 USD) |
Average Toll Fees  | 5 PAB 5 USD | Yet to Update |
You would have to pay 1.70 times less for Vehicle purchase, daily operation and maintenance in Panama compared to that of United Kingdom.
Indicators | Panama | United Kingdom |
|---|---|---|
Doctor Visit  | 50 PAB (50 USD) | 70 GBP (88.90 USD) |
Specialist Visit  | 100 PAB (100 USD) | 150 GBP (190.50 USD) |
Dentist Visit  | 70 PAB (70 USD) | 80 GBP (101.60 USD) |
Eye Exam  | 50 PAB (50 USD) | 50 GBP (63.50 USD) |
Mental Health Counseling  | 100 PAB (100 USD) | 70 GBP (88.90 USD) |
Preventive Health Screening  | 50 PAB (50 USD) | 100 GBP (127 USD) |
Physical Therapy  | 75 PAB (75 USD) | 50 GBP (63.50 USD) |
Emergency Room Visit  | 300 PAB (300 USD) | 200 GBP (254 USD) |
Hospital Stay Per Night  | 150 PAB (150 USD) | 150 GBP (190.50 USD) |
Vaccinations  | 30 PAB (30 USD) | 30 GBP (38.10 USD) |
Prescription Medication  | 20 PAB (20 USD) | 15 GBP (19.05 USD) |
Over the Counter Medication  | 10 PAB (10 USD) | 5 GBP (6.35 USD) |
Health Insurance Premiums  | 150 PAB (150 USD) | 200 GBP (254 USD) |
Health Insurance Deductibles  | 75 PAB (75 USD) | 500 GBP (635 USD) |
If you lived in Panama, instead of United Kingdom, you would have to pay 1.72 times less for Health and Medical Treatment.
Indicators | Panama | United Kingdom |
|---|---|---|
Cosmetic Procedures  | 200 PAB (200 USD) | 200 GBP (254 USD) |
Spa Treatment  | 75 PAB (75 USD) | 100 GBP (127 USD) |
Manicure Pedicure Cost  | 30 PAB (30 USD) | 30 GBP (38.10 USD) |
Optical Glasses Cost  | 80 PAB (80 USD) | 100 GBP (127 USD) |
Contact Lenses Cost  | 40 PAB (40 USD) | 50 GBP (63.50 USD) |
Haircuts  | 15 PAB (15 USD) | 20 GBP (25.40 USD) |
Hair Coloring  | 40 PAB (40 USD) | 50 GBP (63.50 USD) |
Shampoo Price  | 5 PAB (5 USD) | 5 GBP (6.35 USD) |
Toothpaste Price  | 2 PAB (2 USD) | 2 GBP (2.54 USD) |
If you lived in Panama, instead of United Kingdom, you would have to pay 1.45 times less for Personal Care Items and Treatment.
Indicators | Panama | United Kingdom |
|---|---|---|
Pair of Nike Running Shoes  | 80 PAB (80 USD) | 80 GBP (101.60 USD) |
Men's Shirt  | 25 PAB (25 USD) | 30 GBP (38.10 USD) |
Women's Dress  | 40 PAB (40 USD) | 60 GBP (76.20 USD) |
Summer Dress  | 30 PAB (30 USD) | 40 GBP (50.80 USD) |
Men's Suit  | 100 PAB (100 USD) | 300 GBP (381 USD) |
Men's Jeans  | 40 PAB (40 USD) | 50 GBP (63.50 USD) |
Women's Jeans  | 30 PAB (30 USD) | 50 GBP (63.50 USD) |
Men's Formal Shoes  | 80 PAB (80 USD) | 80 GBP (101.60 USD) |
Women's Formal Shoes  | 80 PAB (80 USD) | 70 GBP (88.90 USD) |
Men's Casual Shoes  | 50 PAB (50 USD) | 60 GBP (76.20 USD) |
Women's Casual Shoes  | 50 PAB (50 USD) | 50 GBP (63.50 USD) |
Underwear For Men  | 8 PAB (8 USD) | 15 GBP (19.05 USD) |
Underwear For Women  | 12 PAB (12 USD) | 15 GBP (19.05 USD) |
Socks For Men  | 3 PAB (3 USD) | 5 GBP (6.35 USD) |
Socks For Women  | 3 PAB (3 USD) | 5 GBP (6.35 USD) |
Wintercoat for Adults  | 80 PAB (80 USD) | 80 GBP (101.60 USD) |
Sportswear  | 40 PAB (40 USD) | 50 GBP (63.50 USD) |
If you lived in Panama, instead of United Kingdom, you would have to pay 1.76 times less for Clothing and Footwear for Adults.
Indicators | Panama | United Kingdom |
|---|---|---|
Children's Jeans  | 20 PAB (20 USD) | 25 GBP (31.75 USD) |
Children's Normal Sneakers  | 30 PAB (30 USD) | 30 GBP (38.10 USD) |
Children's Winter Coat  | 40 PAB (40 USD) | 50 GBP (63.50 USD) |
Daycare for Infant  | 200 PAB (200 USD) | 1,200 GBP (1,524 USD) |
Daycare for Toddler  | 150 PAB (150 USD) | 1,000 GBP (1,270 USD) |
Childcare for Sick Days  | 30 PAB (30 USD) | 30 GBP (38.10 USD) |
Early Childhood Education Programs  | 150 PAB (150 USD) | 400 GBP (508 USD) |
Extra Curricular Activities  | 100 PAB (100 USD) | 50 GBP (63.50 USD) |
Summer Camp for Kids  | 150 PAB (150 USD) | 200 GBP (254 USD) |
If you lived in Panama, instead of United Kingdom, you would have to pay 4.36 times less for Childcare and kids clothing.
Indicators | Panama | United Kingdom |
|---|---|---|
PreSchool Fees  | 250 PAB (250 USD) | 1,500 GBP (1,905 USD) |
Primary School Fees  | 400 PAB (400 USD) | 3,000 GBP (3,810 USD) |
Secondary School Fees  | 600 PAB (600 USD) | 4,500 GBP (5,715 USD) |
Private School Fees  | 1,000 PAB (1,000 USD) | 6,000 GBP (7,620 USD) |
University Tuition Fees  | 2,500 PAB (2,500 USD) | 9,000 GBP (11,430 USD) |
University Private Tuition Fees  | 3,500 PAB (3,500 USD) | 15,000 GBP (19,050 USD) |
After School Activities  | 75 PAB (75 USD) | 100 GBP (127 USD) |
Special Education Services  | 200 PAB (200 USD) | 100 GBP (127 USD) |
Tutoring  | 30 PAB (30 USD) | 40 GBP (50.80 USD) |
Textbooks Cost  | 50 PAB (50 USD) | 30 GBP (38.10 USD) |
School Supplies  | 30 PAB (30 USD) | 20 GBP (25.40 USD) |
If you lived in Panama, instead of United Kingdom, you would have to pay 5.78 times less for school and education.
Indicators | Panama | United Kingdom |
|---|---|---|
Movie Ticket (Single)  | 8 PAB (8 USD) | 10 GBP (12.70 USD) |
Theater Ticket (Single)  | 15 PAB (15 USD) | 20 GBP (25.40 USD) |
Concert Ticket (Single)  | 25 PAB (25 USD) | 30 GBP (38.10 USD) |
Sports Event Ticket (Single)  | 15 PAB (15 USD) | 25 GBP (31.75 USD) |
Gym Membership  | 40 PAB (40 USD) | 40 GBP (50.80 USD) |
Swimming Pool Access  | 25 PAB (25 USD) | 30 GBP (38.10 USD) |
Museum Entry Ticket  | 8 PAB (8 USD) | 10 GBP (12.70 USD) |
Zoo Entry Ticket  | 12 PAB (12 USD) | 15 GBP (19.05 USD) |
Amusement Park Entry Ticket  | 20 PAB (20 USD) | 30 GBP (38.10 USD) |
Bowling  | 15 PAB (15 USD) | 15 GBP (19.05 USD) |
Mini Golf  | 12 PAB (12 USD) | 10 GBP (12.70 USD) |
Video Games  | 40 PAB (40 USD) | 50 GBP (63.50 USD) |
Streaming Services  | 12 PAB (12 USD) | 10 GBP (12.70 USD) |
Outdoor Equipment Rental  | 15 PAB (15 USD) | 20 GBP (25.40 USD) |
Theme Park Annual Pass  | 500 PAB (500 USD) | 300 GBP (381 USD) |
If you lived in Panama, instead of United Kingdom, you would have to pay 1.02 times less for entertainment, recreation and fun activities.
Indicators | Panama | United Kingdom |
|---|---|---|
Language Classes  | 150 PAB (150 USD) | 30 GBP (38.10 USD) |
Parenting Classes  | 150 PAB (150 USD) | 50 GBP (63.50 USD) |
Art Classes  | 25 PAB (25 USD) | 25 GBP (31.75 USD) |
Fitness Classes  | 25 PAB (25 USD) | 15 GBP (19.05 USD) |
Music Lessons  | 30 PAB (30 USD) | 40 GBP (50.80 USD) |
Dance Lessons  | 30 PAB (30 USD) | 30 GBP (38.10 USD) |
Reading Materials for Classes  | 8 PAB (8 USD) | 5 GBP (6.35 USD) |
Educational Software  | 150 PAB (150 USD) | 20 GBP (25.40 USD) |
If you lived in Panama, instead of United Kingdom, you would have to pay 2.08 times more for Private Classes.
Indicators | Panama | United Kingdom |
|---|---|---|
Average Gross Monthly Salary  | 1,500 PAB (1,500 USD) | 3,000 GBP (3,810 USD) |
Average Net Monthly Salary  | 1,200 PAB (1,200 USD) | 2,400 GBP (3,048 USD) |
Minimum Wages  | 20 PAB per hour (20 USD) | 53.33 GBP per hour (67.73 USD) |
Average Bonus  | 150 PAB (150 USD) | 500 GBP (635 USD) |
Income Tax Rate  | 0 to 7 % | 0 to 20 % |
Social Security Contributions  | 9 % | 12 % |
Pension Contributions  | 10 % | 10 % |
Cost of Living Index  | 50 | 75 |
Median Household Income  | 1,200 PAB (1,200 USD) | 2,800 GBP (3,556 USD) |
If you lived in Panama, you would earn 2.73 times less salary as compared to United Kingdom.
Indicators | Panama | United Kingdom |
|---|---|---|
Legal Consultation Per Hour Rate  | 100 PAB (100 USD) | 200 GBP (254 USD) |
Accounting Services Per Hour Rate  | 80 PAB (80 USD) | 150 GBP (190.50 USD) |
IT Support Services Per Hour Rate  | 80 PAB (80 USD) | 100 GBP (127 USD) |
Technician Services Per Hour Rate  | 60 PAB (60 USD) | 80 GBP (101.60 USD) |
Professional Services cost 2.10 times less in Panama, as compared to United Kingdom.
We hope you enjoyed the detailed guide on the cost of living comparsion between Panama and United Kingdom.
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