Cost of living comparison

compared to

Madrid is 21.0% more expensive than Panama City.

If you lived in Madrid instead of Panama City, you would:

Display currency: USD

pay 33.3% more for restaurants

 
Panama City
Madrid
Basic meal with drink at inexpensive restaurant $13.25
PAB13.25
$16.08
€15.25
Fast food combo meal
McDonalds, or similar
$8.00
PAB8.00
$10.72
€10.16
Bottle of Coca-Cola (11 fl. oz) $1.86
PAB1.86
$2.79
€2.64

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pay 12.1% less for groceries

 
Panama City
Madrid
Bread
1 loaf
$2.51
PAB2.51
$1.50
€1.42
Local cheese (8 oz) $6.39
PAB6.39
$6.92
€6.56
Milk (1 gallon) $6.80
PAB6.80
$4.41
€4.18

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pay 56.4% more for transportation

 
Panama City
Madrid
Gasoline (1 gallon) $3.69
PAB3.69
$6.79
€6.43
Monthly public transit pass $25.00
PAB25.00
$42.87
€40.66
New Volkswagen Golf 1.4 (standard edition) $19,750.00
PAB19,750.00
$35,759.38
€33,912.83

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pay 21.0% more for housing

 
Panama City
Madrid
Internet connection
50 mbps or faster, cable/dsl
$52.10
PAB52.10
$31.85
€30.20
1-Bedroom apartment in downtown area $1,023.81
PAB1,023.81
$1,468.90
€1,393.05
1-Bedroom apartment outside city center $755.88
PAB755.88
$1,074.71
€1,019.21

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pay 14.5% more for childcare

 
Panama City
Madrid
Private preschool for 1 child, monthly $439.17
PAB439.17
$567.57
€538.26
Middle school for 1 child, two semesters $10,092.67
PAB10,092.67
$10,069.47
€9,549.50

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pay 11.6% more for entertainment and sports

 
Panama City
Madrid
Domestic/local beer (1 pint) $3.00
PAB3.00
$3.75
€3.56
Cappuccino in mid-range area $3.59
PAB3.59
$2.59
€2.45
Pack of cigarettes
Marlboro or similar
$5.50
PAB5.50
$6.43
€6.10

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pay 22.4% more for clothing

 
Panama City
Madrid
Regular jeans
Levi's brand
$53.91
PAB53.91
$90.50
€85.83
Regular dress
from H&M or similar store
$37.78
PAB37.78
$37.21
€35.29
Running shoes
Nike or Adidas
$87.62
PAB87.62
$97.88
€92.82

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The statistics used to build this comparison are calculated using data from users just like you. We average the price of thousands of data points entered by users across the world. Learn more about our data sources. Page last updated: November 2024
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