Guayaquil vs Panama City - Cost of Living Comparison

Updated: March 02, 2025

	Guayaquil	Panama City
🚶 Cost of living one person	$925	$1479
👨‍👩‍👧‍👦 Cost of living Family	$2456	$3609
🏠 One person rent	$364	$846
🏘️ Family rent	$743	$1592
🍽️ Food expenses	$311	$440
🚐 Transport expenses	$155	$83
💳 Monthly salary after tax	$514	$967
😷 Air quality	Moderate	Good
✈️ Airport proximity	3 km	7 km
🎓 Higher education	47	42
😀 Quality of life	51	67
🏙️ Population	2.65M	881K

The cost of living in Guayaquil is 37% less expensive than in Panama City. Cities ranked 5905th and 3517th ($925 vs $1479) in the list of the most expensive cities in the world and ranked 2nd and 1st in Ecuador and Panama, respectively. Check Ecuador vs Panama comparison.

The average after-tax salary is enough to cover living expenses for 0.6 months in Guayaquil compared to 0.7 months in Panama City. Guayaquil ranked 2nd best city to live in Ecuador vs Panama City ranked 1st in Panama, while ranked 6147th and 3734th among best cities to live in the world.

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Cost of living in Guayaquil vs Panama City infographic

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Prices in Guayaquil vs Panama City

Prices for goods and services in Guayaquil and Panama City are partly crowdsourced by our visitors, just like yourself. Please consider telling us about your city.

	Guayaquil	Panama City
Eating Out
🍱 Lunch Menu	$3.01	$10.4
🥂 Dinner in a Restaurant, for 2	$50.4	$48.5
🥪 Fast food meal, equiv. McDonald's	$7.98	$8.06
🍻 Beer in a Pub, 0.5 L or 16 fl oz	$2.99	$2.97
☕ Cappuccino	$2.52	$3.99
🥤 Pepsi / Coke, 0.5 L or 16.9 fl oz	$0.81	$1.66
Rent & Utilities
🏙️ 1 bedroom apartment in Downtown, 40 m2 or 430 ft2	$269	$891
🏡 Cheap 1 bedroom apartment, 40 m2 or 430 ft2	$278	$681
🏙️ 3 bedroom apartment in Downtown, 80 m2 or 860 ft2	$510	$1749
🏡 Cheap 3 bedroom apartment, 80 m2 or 860 ft2	$651	$1344
🔌 Utility Bill one person, electricity, heating, water, etc.	$58.9	$78
🔌 Utility Bill for a Family, electricity, heating, water, etc.	$91.4	$121
🌐 Internet plan, 50 Mbps+ 1 month unlimited	$28.6	$45.4
🏦 Mortgage Interest Rate for 20 Years	8.36%	6.28%
🏙️ Apartment price to Buy in city Center, 1 m2 or 10 ft2	$1009	$2551
🏡 House price to Buy in Suburbs, 1 m2 or 10 ft2	$2101	$1632
Transportation
🚌 Local transport ticket	$0.32	$0.42
🎟️ Monthly ticket local transport	$18.1	$23.2
🚕 Taxi Ride, 8 km or 5 mi	$24.7	$14.3
⛽ Gas / Petrol, 1 L or 0.26 gal	$0.66	$0.96
Groceries
🥛 Milk, 1 L or 1 qt	$1.13	$1.8
🍞 Bread, 0.5 kg or 1.1 lb	$1.78	$2.19
🍚 Rice, 1 kg or 2.2 lb	$1.52	$2.33
🥚 Eggs, x12	$2.52	$2.77
🧀 Cheese, 1 kg or 2.2 lb	$6.04	$12.4
🐔 Chicken Breast, 1 kg or 2.2 lb	$5.07	$7.09
🥩 Round Steak, 1 kg or 2.2 lb	$7.44	$9.99
🍏 Apples, 1 kg or 2.2 lb	$2.43	$3.44
🍌 Banana, 1 kg or 2.2 lb	$1.59	$1.58
🍊 Oranges, 1 kg or 2.2 lb	$1.08	$2.89
🍅 Tomato, 1 kg or 2.2 lb	$1.18	$2.94
🥔 Potato, 1 kg or 2.2 lb	$1.78	$2.23
🧅 Onion, 1 kg or 2.2 lb	$1.52	$2.8
🌊 Water, 1 L or 1 qt	$0.72	$1.07
🍹 Coca-Cola / Pepsi, 2 L or 67.6 fl oz	$1.99	$2.31
🍾 Wine (mid-priced), 750 mL bottle	$12.1	$10
🍺 Beer, 0.5 L or 16 fl oz	$1.76	$1.29
🚬 Cigarette pack	$5.99	$5.98
💊 Cold medicince, 1 week	$6.37	$11.7
🧴 Hair Shampoo	$5.95	$7.94
🧻 Toilet paper, 4 rolls	$2.14	$3.37
👄 Toothpaste, 1 tube	$2	$3.71
Other
🏋️ Gym Membership, 1 month	$31.2	$45.3
🎫 Cinema Ticket, 1 person	$7.57	$7.22
👩‍⚕️ Doctor's visit	$38.9	$54.5
💇 Haircut, simple	$9.57	$12.9
👖 Brand Jeans	$52.9	$56.8
👟 Brand Sneakers	$99.8	$93.2
👶 Daycare or Preschool, 1 month	$292	$477
🏫 International Primary School, 1 year	$5836	$13616

Cost of living in other countries

Cost of living

$349

$907

$6.64K

Cost of Living in the nearest cities

Cities near Guayaquil

Distance	City	Cost of living
5.9 km or 3.7 mi	Duran	$806
33 km or 21 mi	Milagro	$697
58 km or 36 mi	Babahoyo	$823
104 km or 65 mi	Montanita	$766
113 km or 70 mi	La Libertad	$816
121 km or 75 mi	Machala	$569
126 km or 78 mi	Cuenca	$758
137 km or 85 mi	Quevedo	$651
141 km or 87 mi	Portoviejo	$716
148 km or 92 mi	Riobamba	$538
165 km or 103 mi	Manta	$990
166 km or 103 mi	Tumbes	$463
175 km or 109 mi	Ambato	$573
215 km or 133 mi	Loja	$600
229 km or 142 mi	Santo Domingo	$532
250 km or 155 mi	Mancora	$505
267 km or 166 mi	Quito	$884
308 km or 191 mi	Talara	$513
315 km or 196 mi	Sullana	$505
344 km or 214 mi	Ibarra	$519
345 km or 215 mi	Piura	$565
348 km or 216 mi	Paita	$518
349 km or 217 mi	Esmeraldas	$610
409 km or 254 mi	Jaen	$548
418 km or 259 mi	Ipiales	$531
461 km or 286 mi	Tumaco	$571
476 km or 296 mi	Pasto	$514
502 km or 312 mi	Chachapoyas	$549
509 km or 316 mi	Chiclayo	$598
574 km or 357 mi	Cajamarca	$549
617 km or 383 mi	Tarapoto	$562
630 km or 392 mi	Popayan	$477
635 km or 395 mi	Florencia	$410
666 km or 414 mi	Trujillo	$714
729 km or 453 mi	Cali	$748
745 km or 463 mi	Buenaventura	$742
751 km or 466 mi	Palmira	$666
756 km or 470 mi	Iquitos	$694
764 km or 475 mi	Neiva	$557
779 km or 484 mi	Chimbote	$504

Cities near Panama City

Distance	City	Cost of living
8.1 km or 5 mi	Balboa	$1328
16 km or 9.9 mi	Tocumen	$1310
26 km or 16 mi	Pacora	$1304
34 km or 21 mi	La Chorrera	$957
59 km or 37 mi	Colon	$1172
108 km or 67 mi	Penonome	$1116
154 km or 96 mi	Chitre	$1117
190 km or 118 mi	Santiago de Veraguas	$1089
321 km or 199 mi	Turbo	$664
329 km or 204 mi	David	$890
398 km or 247 mi	Monteria	$645
403 km or 250 mi	Limon	$1225
406 km or 252 mi	Santa Cruz de Lorica	$669
452 km or 281 mi	Sincelejo	$524
463 km or 288 mi	Cartagena	$760
483 km or 300 mi	Quibdo	$705
494 km or 307 mi	Cartago	$1024
513 km or 319 mi	San Jose	$1324
518 km or 322 mi	Heredia	$1296
521 km or 324 mi	Magangue	$604
526 km or 327 mi	Bello	$839
529 km or 329 mi	Alajuela	$1269
530 km or 329 mi	Medellin	$906
534 km or 332 mi	Envigado	$897
558 km or 347 mi	Soledad	$741
559 km or 348 mi	Barranquilla	$773
595 km or 370 mi	Puntarenas	$801
617 km or 383 mi	Cartago	$649
617 km or 383 mi	Cienaga	$742
623 km or 387 mi	Manizales	$653
627 km or 390 mi	Santa Teresa	$1213
627 km or 390 mi	Pereira	$680
631 km or 392 mi	Santa Marta	$837
632 km or 393 mi	Buenaventura	$742
636 km or 395 mi	Minca	$759
651 km or 404 mi	Salento	$605
652 km or 405 mi	Armenia	$598
657 km or 408 mi	Tulua	$513
658 km or 409 mi	Barrancabermeja	$1031
675 km or 419 mi	Liberia	$932