Colombia vs Panama - Cost of Living Comparison

Updated:

Livingcost

Colombia Panama
🚶 Cost of living one person
$735
$1198
👨‍👩‍👧‍👦 Cost of living Family
$1826
$2872
🏠 One person rent
$309
$624
🏘️ Family rent
$535
$1080
🍽️ Food expenses
$252
$416
🚐 Transport expenses
$100
$61.7
💳 Monthly salary after tax
$377
$895
💸 GDP per capita
$6624
$17358
😃 Human freedom index
6.54
7.57
❤️ Life expectancy
72.8
76.2
👮 Corruption perceptions index
40
35
🌐 English speaking %
4.2%
14%
🎓 Higher education
77
46
😀 Quality of life
37
56
🏙️ Population
49.1M
4.1M

The average cost of living in Colombia ($735) is 39% less expensive than in Panama ($1198). Colombia ranked 127th vs 53rd for Panama in the list of the most expensive countries in the world.

The average after-tax salary is enough to cover living expenses for 0.5 months in Colombia compared to 0.7 months in Panama. Ranked 132nd and 71st best countries to live in the world.

Salary adjustment calculator
the estimated difference in money purchasing power

Cost of living in Colombia vs Panama infographic

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Prices in Colombia vs Panama

We calculate prices for Colombia and Panama as a population-weighted mean of 50 and 10 cities, respectively. Since large cities tend to have a higher cost of living, it's better to visit specific city pages below for more relevant information.

Colombia Panama
Eating Out
🍱 Lunch Menu
$4.97
$9.95
🥂 Dinner in a Restaurant, for 2
$22.7
$48.7
🥪 Fast food meal, equiv. McDonald's
$6.7
$7.78
🍻 Beer in a Pub, 0.5 L or 16 fl oz
$1.24
$2.46
 Cappuccino
$1.78
$3.95
🥤 Pepsi / Coke, 0.5 L or 16.9 fl oz
$0.82
$1.75
Rent & Utilities
🏙️ 1 bedroom apartment in Downtown, 40 m2 or 430 ft2
$309
$712
🏡 Cheap 1 bedroom apartment, 40 m2 or 430 ft2
$213
$447
🏙️ 3 bedroom apartment in Downtown, 80 m2 or 860 ft2
$559
$1430
🏡 Cheap 3 bedroom apartment, 80 m2 or 860 ft2
$397
$794
🔌 Utility Bill one person, electricity, heating, water, etc.
$53.4
$78.8
🔌 Utility Bill for a Family, electricity, heating, water, etc.
$81.9
$121
🌐 Internet plan, 50 Mbps+ 1 month unlimited
$23.7
$47.1
🏦 Mortgage Interest Rate for 20 Years
13.93%
6.05%
🏙️ Apartment price to Buy in city Center, 1 m2 or 10 ft2
$1313
$2303
🏡 House price to Buy in Suburbs, 1 m2 or 10 ft2
$1235
$1386
Transportation
🚌 Local transport ticket
$0.7
$0.4
🎟️ Monthly ticket local transport
$32.9
$28.6
🚕 Taxi Ride, 8 km or 5 mi
$13.6
$13
 Gas / Petrol, 1 L or 0.26 gal
$0.92
$1.08
Groceries
🥛 Milk, 1 L or 1 qt
$1.14
$1.73
🍞 Bread, 0.5 kg or 1.1 lb
$1.24
$2.21
🍚 Rice, 1 kg or 2.2 lb
$1.11
$1.93
🥚 Eggs, x12
$2.25
$2.59
🧀 Cheese, 1 kg or 2.2 lb
$5.17
$11.1
🐔 Chicken Breast, 1 kg or 2.2 lb
$5.2
$7.31
🥩 Round Steak, 1 kg or 2.2 lb
$7.84
$8.61
🍏 Apples, 1 kg or 2.2 lb
$2.44
$3.02
🍌 Banana, 1 kg or 2.2 lb
$1.08
$1.36
🍊 Oranges, 1 kg or 2.2 lb
$1.29
$2.82
🍅 Tomato, 1 kg or 2.2 lb
$1.19
$2.86
🥔 Potato, 1 kg or 2.2 lb
$1.09
$2.14
🧅 Onion, 1 kg or 2.2 lb
$1.12
$2.02
🌊 Water, 1 L or 1 qt
$0.52
$0.96
🍹 Coca-Cola / Pepsi, 2 L or 67.6 fl oz
$1.59
$2.52
🍾 Wine (mid-priced), 750 mL bottle
$10.4
$9.18
🍺 Beer, 0.5 L or 16 fl oz
$1.02
$1.14
🚬 Cigarette pack
$2.27
$6.14
💊 Cold medicince, 1 week
$5.61
$11.2
🧴 Hair Shampoo
$4.74
$6.03
🧻 Toilet paper, 4 rolls
$2.05
$3.11
👄 Toothpaste, 1 tube
$1.39
$3.07
Other
🏋️ Gym Membership, 1 month
$23
$38.1
🎫 Cinema Ticket, 1 person
$4.21
$6.71
👩‍⚕️ Doctor's visit
$26.1
$45.4
💇 Haircut, simple
$6.12
$11.5
👖 Brand Jeans
$52.4
$53.7
👟 Brand Sneakers
$85.1
$81.7
👶 Daycare or Preschool, 1 month
$216
$408
🏫 International Primary School, 1 year
$5704
$9399

Cost of living in other countries

Cost of living

Cities Comparison in Colombia vs Panama

More countries to compare

Cost of Living in Popular cities

In Colombia

City Cost of living Population
Bogota
$883
7.74M
Cali
$720
2.47M
Medellin
$867
2.53M
Cartagena
$877
1.04M
Barranquilla
$780
1.27M
Soacha
$724
660K
Villavicencio
$530
664K
Cucuta
$708
750K
Manizales
$727
434K
Pereira
$639
591K
Bucaramanga
$649
581K
Santa Marta
$705
516K
Monteria
$633
505K
Bello
$778
372K
Buenaventura
$552
424K
Envigado
$812
229K
Soledad
$851
456K
Tunja
$511
410K
Palmira
$648
349K
Ibague
$525
541K
Valledupar
$519
544K
Neiva
$507
353K
Pasto
$511
308K
Barrancabermeja
$592
300K
Armenia
$551
301K
Floridablanca
$612
267K
Popayan
$455
301K
Tulua
$493
219K
Sincelejo
$536
287K
Tumaco
$533
213K

In Panama

City Cost of living Population
Panama City
$1316
881K
Colon
$1157
242K
Tocumen
$1171
103K
Santiago de Veraguas
$961
89K
David
$789
82.9K
La Chorrera
$917
68.9K
Balboa
$1189
62.9K
Pacora
$1182
52.5K
Chitre
$980
46.2K
Penonome
$940
21.7K