Italy vs Panama - Cost of Living Comparison

Italy Panama
🚶 Cost of living one person
$1221
$1040
👨‍👩‍👧‍👦 Cost of living Family
$3026
$2489
🏠 One person rent
$597
$530
🏘️ Family rent
$1059
$877
🍽️ Food expenses
$405
$353
🚐 Transport expenses
$87.2
$68.5
💳 Monthly salary after tax
$1475
$746
💸 GDP per capita
$31770
$12510
😃 Human freedom index
8.49
8.12
❤️ Life expectancy
82.3
78.7
👮 Corruption perceptions index
56
36
🌐 English speaking %
28.5%
14%
🎓 Higher education
92
49
😀 Quality of life
73
58
🏙️ Population
60.3M
4.1M

The average cost of living in Italy ($1221) is 17% more expensive than in Panama ($1040). Italy ranked 38th vs 57th 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 1.2 months in Italy compared to 0.7 months in Panama. Ranked 28th and 63rd best countries to live in the world.

Salary adjustment calculator
the estimated difference in money purchasing power

Cost of living in Italy vs Panama infographic

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Prices in Italy vs Panama

We calculate prices for Italy and Panama as a population-weighted mean of 148 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.

Italy Panama
Eating Out
🍱 Lunch Menu
$13.4
$7.93
🥂 Dinner in a Restaurant, for 2
$52.4
$35.9
🥪 Fast food meal, equiv. McDonald's
$8.2
$6.24
🍻 Beer in a Pub, 0.5 L or 16 fl oz
$4.62
$2.22
 Cappuccino
$1.53
$3.28
🥤 Pepsi / Coke, 0.5 L or 16.9 fl oz
$2.12
$1.49
Rent & Utilities
🏙️ 1 bedroom apartment in Downtown, 40 m2 or 430 ft2
$599
$638
🏡 Cheap 1 bedroom apartment, 40 m2 or 430 ft2
$433
$375
🏙️ 3 bedroom apartment in Downtown, 80 m2 or 860 ft2
$1168
$1105
🏡 Cheap 3 bedroom apartment, 80 m2 or 860 ft2
$799
$650
🔌 Utility Bill one person, electricity, heating, water, etc.
$102
$63.9
🔌 Utility Bill for a Family, electricity, heating, water, etc.
$158
$97.6
🌐 Internet plan, 50 Mbps+ 1 month unlimited
$27.7
$39.1
🏦 Mortgage Interest Rate for 20 Years
1.75%
6.3%
🏙️ Apartment price to Buy in city Center, 1 m2 or 10 ft2
$3920
$2002
🏡 House price to Buy in Suburbs, 1 m2 or 10 ft2
$2278
$1216
Transportation
🚌 Local transport ticket
$1.5
$0.39
🎟️ Monthly ticket local transport
$36.5
$35
🚕 Taxi Ride, 8 km or 5 mi
$16.3
$13.1
 Gas / Petrol, 1 L or 0.26 gal
$2.06
$1.07
Groceries
🥛 Milk, 1 L or 1 qt
$1.21
$1.59
🍞 Bread, 0.5 kg or 1.1 lb
$1.52
$1.94
🍚 Rice, 1 kg or 2.2 lb
$1.8
$1.93
🥚 Eggs, x12
$3.12
$2.22
🧀 Cheese, 1 kg or 2.2 lb
$13.1
$10.2
🐔 Chicken Breast, 1 kg or 2.2 lb
$8.99
$5.57
🥩 Round Steak, 1 kg or 2.2 lb
$15
$8.11
🍏 Apples, 1 kg or 2.2 lb
$1.95
$2.74
🍌 Banana, 1 kg or 2.2 lb
$1.67
$1.27
🍊 Oranges, 1 kg or 2.2 lb
$1.89
$2.46
🍅 Tomato, 1 kg or 2.2 lb
$2.27
$2.85
🥔 Potato, 1 kg or 2.2 lb
$1.34
$2.1
🧅 Onion, 1 kg or 2.2 lb
$1.34
$1.94
🌊 Water, 1 L or 1 qt
$0.3
$0.92
🍹 Coca-Cola / Pepsi, 2 L or 67.6 fl oz
$1.96
$2.2
🍾 Wine (mid-priced), 750 mL bottle
$5.92
$9.42
🍺 Beer, 0.5 L or 16 fl oz
$1.39
$1.22
🚬 Cigarette pack
$5.79
$6.01
💊 Cold medicince, 1 week
$10.1
$8.1
🧴 Hair Shampoo
$2.98
$6.91
🧻 Toilet paper, 4 rolls
$2.13
$2.57
👄 Toothpaste, 1 tube
$1.98
$2.37
Other
🏋️ Gym Membership, 1 month
$46.8
$39.1
🎫 Cinema Ticket, 1 person
$8.72
$6.19
👩‍⚕️ Doctor's visit
$85.7
$44.2
💇 Haircut, simple
$14.4
$12.4
👖 Brand Jeans
$74.6
$43.6
👟 Brand Sneakers
$84.9
$68.5
👶 Daycare or Preschool, 1 month
$456
$321
🏫 International Primary School, 1 year
$9600
$12414

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Cities Comparison in Italy vs Panama

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Cost of Living in Popular cities

In Italy

City Cost of living Population
Rome
$1546
2.87M
Milan
$1657
1.37M
Turin
$1134
871K
Naples
$1085
966K
Palermo
$984
668K
Genoa
$1235
580K
Bologna
$1281
393K
Florence
$1317
381K
Bari
$1215
323K
Venice
$1357
261K
Verona
$1237
257K
Catania
$1055
312K
Trieste
$1300
204K
Parma
$1282
196K
Padua
$1170
210K
Brescia
$1200
197K
Modena
$1285
185K
Reggio Emilia
$1103
172K
Messina
$822
234K
Syracuse
$908
121K
Prato
$1295
193K
Monza
$1290
124K
Reggio Calabria
$848
181K
Perugia
$998
166K
Taranto
$937
198K
Ferrara
$1072
132K
Rimini
$1207
149K
Ravenna
$1183
159K
Trento
$1218
118K
Cagliari
$1206
154K

In Panama

City Cost of living Population
Panama City
$1211
881K
Colon
$889
242K
Tocumen
$845
103K
Santiago de Veraguas
$853
89K
David
$769
82.9K
La Chorrera
$841
68.9K
Balboa
$851
62.9K
Chitre
$847
46.2K
Pacora
$760
52.5K
Penonome
$784
21.7K