Cost of living comparison

compared to

Monaco vs. Panama City Cost of Living Summary

Monaco is 3.2 times more expensive than Panama City.

Restaurants: pay 2.7 times more in Monaco
Groceries: pay 38.4% more in Monaco
Transportation: pay 70.5% more in Monaco
Housing: pay 5.0 times more in Monaco
Childcare: pay 4.5 times more in Monaco
Entertainment and Sports: pay 4.0 times more in Monaco
Clothing: pay 3.4 times more in Monaco

The cost of housing, childcare, entertainment and sports, clothing, restaurants, and transportation in Monaco are more expensive than in Panama City. Notably, housing, childcare, and entertainment and sports are significantly more expensive in Monaco.

Monaco vs. Panama City Cost Breakdown

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

Display currency: USD

pay 2.7 times more for restaurants

	Panama City	Monaco
Basic meal with drink at inexpensive restaurant	$13.25 PAB13.25	$20.90 €20.27	+57.7%
Fast food combo meal McDonalds, or similar	$8.00 PAB8.00	$12.33 €11.95	+54.1%
Bottle of Coca-Cola (11 fl. oz)	$1.86 PAB1.86	$4.67 €4.53	+151.6%
Bottle of water (11 fl. oz)	$1.41 PAB1.41	$7.08 €6.87	+401.7%
Average			+166.3%

Panama City vs. Monaco - Cost of restaurants

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pay 38.4% more for groceries

	Panama City	Monaco
Bread 1 loaf	$2.51 PAB2.51	$6.56 €6.37	+162.0%
Local cheese (8 oz)	$6.39 PAB6.39	$8.04 €7.80	+25.9%
Milk (1 gallon)	$6.80 PAB6.80	$7.10 €6.89	+4.4%
Eggs 1 dozen	$2.68 PAB2.68	$3.56 €3.45	+33.0%
Boneless chicken breast (1 lb)	$3.41 PAB3.41	$4.76 €4.62	+39.7%
Apples (1 lb)	$1.48 PAB1.48	$2.07 €2.00	+39.4%
Bananas (1 lb)	$0.72 PAB0.72	$1.22 €1.18	+68.1%
Oranges (1 lb)	$1.24 PAB1.24	$1.22 €1.18	-2.0%
Tomatoes (1 lb)	$1.40 PAB1.40	$1.80 €1.74	+28.6%
Potatoes (1 lb)	$0.98 PAB0.98	$0.95 €0.92	-3.8%
Onions (1 lb)	$1.15 PAB1.15	$1.46 €1.41	+27.1%
Average			+38.4%

Panama City vs. Monaco - Cost of groceries

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pay 70.5% more for transportation

	Panama City	Monaco
Gasoline (1 gallon)	$3.69 PAB3.69	$8.55 €8.29	+131.6%
Monthly public transit pass	$25.00 PAB25.00	$23.58 €22.87	-5.7%
New Volkswagen Golf 1.4 (standard edition)	$19,750.00 PAB19,750.00	$46,276.05 €44,878.10	+134.3%
Taxi trip in downtown area (5 miles)	$16.71 PAB16.71	$20.36 €19.75	+21.9%
Average			+70.5%

Panama City vs. Monaco - Cost of transportation

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pay 5.0 times more for housing

	Panama City	Monaco
Internet connection 50 mbps or faster, cable/dsl	$52.10 PAB52.10	$61.09 €59.25	+17.3%
1-Bedroom apartment in downtown area	$1,023.81 PAB1,023.81	$8,084.96 €7,840.73	+689.7%
1-Bedroom apartment outside city center	$755.88 PAB755.88	$6,430.58 €6,236.32	+750.7%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$94.84 PAB94.84	$235.04 €227.94	+147.8%
Average			+401.4%

Panama City vs. Monaco - Cost of housing

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pay 4.5 times more for childcare

	Panama City	Monaco
Private preschool for 1 child, monthly	$439.17 PAB439.17	$2,089.94 €2,026.80	+375.9%
Middle school for 1 child, two semesters	$10,092.67 PAB10,092.67	$42,736.55 €41,445.53	+323.4%
Average			+349.6%

Panama City vs. Monaco - Cost of childcare

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pay 4.0 times more for entertainment and sports

	Panama City	Monaco
Domestic/local beer (1 pint)	$3.00 PAB3.00	$8.57 €8.32	+185.8%
Cappuccino in mid-range area	$3.59 PAB3.59	$6.62 €6.42	+84.4%
Pack of cigarettes Marlboro or similar	$5.50 PAB5.50	$13.40 €12.99	+143.6%
Monthly membership at local gym	$47.27 PAB47.27	$515.79 €500.20	+991.1%
Movie ticket to theater/cinema	$7.00 PAB7.00	$12.86 €12.47	+83.7%
Average			+297.7%

Panama City vs. Monaco - Cost of entertainment and sports

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pay 3.4 times more for clothing

	Panama City	Monaco
Regular jeans Levi's brand	$53.91 PAB53.91	$174.43 €169.16	+223.6%
Regular dress from H&M or similar store	$37.78 PAB37.78	$75.29 €73.02	+99.3%
Running shoes Nike or Adidas	$87.62 PAB87.62	$219.18 €212.55	+150.2%
Men's business shoes (leather)	$108.75 PAB108.75	$625.91 €607.00	+475.5%
Average			+237.2%

Panama City vs. Monaco - Cost of clothing

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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: January 2025

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