Daily costs per person in US dollars. Panama City uses the US dollar as its currency so there are no exchange rate surprises — costs range from very affordable at local fondas to premium at rooftop restaurants and San Blas tours.
Daily cost breakdown
Currency: USD (US Dollar) (Balboa coins used alongside USD)
| Category | Budget | Mid-range | Splurge | Notes |
|---|---|---|---|---|
| Accommodation | $12–25 | $40–80 | $120+ | Hostel dorms → boutique hotels → luxury towers |
| Food | $10–20 | $20–45 | $60+ | Fondas & markets → Casco restaurants → fine dining |
| Transport | $2–8 | $10–25 | $40+ | Metro & buses → Uber → private transfers |
| Activities | $5–15 | $15–50 | $100+ | Walking tours → canal & museum → San Blas trip |
| Entry Fees | $5–15 | $15–30 | $30–50 | Miraflores, Biomuseo, Panama Viejo combined |
| Daily Total | $40–90 | $100–230 | $350+ | Budget backpacker → comfortable mid → luxury |
Money-saving tips
Use the Metro
Panama City's modern Metro system covers major areas for $0.35 per ride — one of the cheapest and most efficient urban transit systems in the Americas. Rechargeable Metro cards available at any station.
Eat at fondas
Fondas (local lunch counters) serve comida corriente — a full plate of rice, beans, meat, salad, and a drink for $3–5. They are found throughout the city and are where working Panamanians eat daily.
Free Casco Viejo walking tours
Tip-based walking tours of Casco Viejo run daily and provide excellent historical context. Budget $10–15 per person as a tip — far cheaper than private guides at $50+ per hour.
Uber over taxis
Uber is widely available and significantly cheaper than yellow taxis in Panama City. A cross-city ride typically costs $3–6 on Uber versus $8–15 in a taxi. Always use the app for transparent pricing.
Visit Miraflores early
The $15 Miraflores Locks entry includes museum, IMAX, and observation deck for the entire day. Arrive at opening for uncrowded viewing and stay through multiple ship transits to maximise value.
Cook at your hostel
Panama City hostels with kitchens let you prepare breakfast and snacks from supermarket supplies. A loaf of bread, eggs, fruit, and coffee from a Super 99 supermarket costs under $5 and covers two breakfasts.
