Cost of living comparison
Reykjavik is 63.4% more expensive than Panama City.
- Restaurants
-
pay 75.2% more in Reykjavik
- Groceries
-
pay 42.8% more in Reykjavik
- Transportation
-
pay 2.2 times more in Reykjavik
- Housing
-
pay 55.5% more in Reykjavik
- Childcare
-
pay 41.6% less in Reykjavik
- Entertainment and Sports
-
pay 2.2 times more in Reykjavik
- Clothing
-
pay 71.4% more in Reykjavik
The cost of transportation, entertainment and sports, restaurants, clothing, housing, and groceries in Reykjavik are more expensive than in Panama City. Notably, transportation, entertainment and sports, and restaurants are significantly more expensive in Reykjavik.
If you lived in Reykjavik instead of Panama City, you would:
pay 75.2% more for restaurants
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$13.25
PAB13.25
|
$20.00
ISK2,527
|
|
|
Fast food combo meal
McDonalds, or similar
|
$8.00
PAB8.00
|
$18.02
ISK2,277
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$1.86
PAB1.86
|
$3.15
ISK399
|
|
| Bottle of water (11 fl. oz) |
$1.41
PAB1.41
|
$2.19
ISK276
|
|
pay 42.8% more for groceries
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$2.51
PAB2.51
|
$3.61
ISK456
|
|
| Local cheese (8 oz) |
$6.39
PAB6.39
|
$7.76
ISK980
|
|
| Milk (1 gallon) |
$6.80
PAB6.80
|
$6.40
ISK809
|
|
|
Eggs
1 dozen
|
$2.68
PAB2.68
|
$5.76
ISK727
|
|
| Boneless chicken breast (1 lb) |
$3.41
PAB3.41
|
$9.45
ISK1,194
|
|
| Apples (1 lb) |
$1.48
PAB1.48
|
$1.40
ISK177
|
|
| Bananas (1 lb) |
$0.72
PAB0.72
|
$1.01
ISK128
|
|
| Oranges (1 lb) |
$1.24
PAB1.24
|
$1.22
ISK154
|
|
| Tomatoes (1 lb) |
$1.40
PAB1.40
|
$2.22
ISK281
|
|
| Potatoes (1 lb) |
$0.98
PAB0.98
|
$1.43
ISK181
|
|
| Onions (1 lb) |
$1.15
PAB1.15
|
$0.93
ISK118
|
|
pay 2.2 times more for transportation
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$3.69
PAB3.69
|
$8.50
ISK1,074
|
|
| Monthly public transit pass |
$25.00
PAB25.00
|
$74.95
ISK9,472
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$19,750.00
PAB19,750.00
|
$42,450.45
ISK5,364,463
|
|
| Taxi trip in downtown area (5 miles) |
$16.71
PAB16.71
|
$24.05
ISK3,039
|
|
pay 55.5% more for housing
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$52.10
PAB52.10
|
$69.87
ISK8,829
|
|
| 1-Bedroom apartment in downtown area |
$1,023.81
PAB1,023.81
|
$1,971.17
ISK249,097
|
|
| 1-Bedroom apartment outside city center |
$755.88
PAB755.88
|
$1,803.44
ISK227,901
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$94.84
PAB94.84
|
$53.95
ISK6,818
|
|
pay 41.6% less for childcare
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$439.17
PAB439.17
|
$252.14
ISK31,863
|
|
| Middle school for 1 child, two semesters |
$10,092.67
PAB10,092.67
|
$5,993.99
ISK757,461
|
|
pay 2.2 times more for entertainment and sports
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$3.00
PAB3.00
|
$10.81
ISK1,366
|
|
| Cappuccino in mid-range area |
$3.59
PAB3.59
|
$5.31
ISK670
|
|
|
Pack of cigarettes
Marlboro or similar
|
$5.50
PAB5.50
|
$12.25
ISK1,547
|
|
| Monthly membership at local gym |
$47.27
PAB47.27
|
$69.95
ISK8,839
|
|
| Movie ticket to theater/cinema |
$7.00
PAB7.00
|
$14.77
ISK1,867
|
|
pay 71.4% more for clothing
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$53.91
PAB53.91
|
$108.97
ISK13,771
|
|
|
Regular dress
from H&M or similar store
|
$37.78
PAB37.78
|
$49.72
ISK6,283
|
|
|
Running shoes
Nike or Adidas
|
$87.62
PAB87.62
|
$151.85
ISK19,190
|
|
| Men's business shoes (leather) |
$108.75
PAB108.75
|
$194.16
ISK24,536
|
|
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