Cost of living comparison
Panama is 4.7% more expensive than South Korea overall.
- Restaurants
-
pay 35.0% more in Panama
- Groceries
-
pay 26.9% less in Panama
- Transportation
-
pay 4.5% more in Panama
- Housing
-
pay 70.0% more in Panama
- Childcare
-
pay 45.2% less in Panama
- Entertainment and Sports
-
pay 1.6% more in Panama
- Clothing
-
pay 6.3% less in Panama
The cost of housing, restaurants, transportation, and entertainment and sports in Panama are more expensive than in South Korea. Expenses including childcare, groceries, and clothing are lower in Panama.
If you lived in Panama instead of South Korea, you would:
pay 35.0% more for restaurants
|
South Korea
|
Panama
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$6.16
₩8,878
|
$8.45
PAB8.45
|
|
|
Fast food combo meal
McDonalds, or similar
|
$5.24
₩7,552
|
$7.90
PAB7.90
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$1.47
₩2,122
|
$1.54
PAB1.54
|
|
| Bottle of water (11 fl. oz) |
$0.79
₩1,141
|
$1.17
PAB1.17
|
|
pay 26.9% less for groceries
|
South Korea
|
Panama
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$3.08
₩4,435
|
$2.19
PAB2.19
|
|
| Local cheese (8 oz) |
$5.40
₩7,790
|
$5.66
PAB5.66
|
|
| Milk (1 gallon) |
$7.46
₩10,751
|
$6.43
PAB6.43
|
|
|
Eggs
1 dozen
|
$2.76
₩3,975
|
$2.53
PAB2.53
|
|
| Boneless chicken breast (1 lb) |
$3.32
₩4,787
|
$3.54
PAB3.54
|
|
| Apples (1 lb) |
$3.17
₩4,566
|
$2.12
PAB2.12
|
|
| Bananas (1 lb) |
$1.49
₩2,146
|
$0.61
PAB0.61
|
|
| Oranges (1 lb) |
$2.53
₩3,649
|
$1.29
PAB1.29
|
|
| Tomatoes (1 lb) |
$2.41
₩3,480
|
$1.16
PAB1.16
|
|
| Potatoes (1 lb) |
$1.82
₩2,630
|
$0.98
PAB0.98
|
|
| Onions (1 lb) |
$1.21
₩1,744
|
$1.01
PAB1.01
|
|
pay 4.5% more for transportation
|
South Korea
|
Panama
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$4.39
₩6,331
|
$3.92
PAB3.92
|
|
| Monthly public transit pass |
$45.32
₩65,320
|
$25.00
PAB25.00
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$27,023.07
₩38,951,858
|
$18,916.67
PAB18,916.67
|
|
| Taxi trip in downtown area (5 miles) |
$8.17
₩11,779
|
$16.61
PAB16.61
|
|
pay 70.0% more for housing
|
South Korea
|
Panama
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$17.65
₩25,447
|
$47.61
PAB47.61
|
|
| 1-Bedroom apartment in downtown area |
$426.93
₩615,392
|
$747.76
PAB747.76
|
|
| 1-Bedroom apartment outside city center |
$328.41
₩473,385
|
$567.84
PAB567.84
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$111.42
₩160,608
|
$69.20
PAB69.20
|
|
pay 45.2% less for childcare
|
South Korea
|
Panama
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$373.40
₩538,231
|
$302.08
PAB302.08
|
|
| Middle school for 1 child, two semesters |
$22,907.58
₩33,019,666
|
$6,548.17
PAB6,548.17
|
|
pay 1.6% more for entertainment and sports
|
South Korea
|
Panama
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$3.09
₩4,460
|
$1.95
PAB1.95
|
|
| Cappuccino in mid-range area |
$3.39
₩4,886
|
$3.39
PAB3.39
|
|
|
Pack of cigarettes
Marlboro or similar
|
$3.21
₩4,633
|
$5.38
PAB5.38
|
|
| Monthly membership at local gym |
$45.71
₩65,890
|
$57.20
PAB57.20
|
|
| Movie ticket to theater/cinema |
$10.10
₩14,556
|
$5.33
PAB5.33
|
|
pay 6.3% less for clothing
|
South Korea
|
Panama
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$60.70
₩87,501
|
$47.41
PAB47.41
|
|
|
Regular dress
from H&M or similar store
|
$44.52
₩64,176
|
$34.81
PAB34.81
|
|
|
Running shoes
Nike or Adidas
|
$72.99
₩105,213
|
$81.21
PAB81.21
|
|
| Men's business shoes (leather) |
$93.73
₩135,105
|
$100.42
PAB100.42
|
|
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