Monaco vs Panama - Cost of Living Comparison

Updated:

Livingcost

Monaco Panama
🚶 Cost of living one person
$7366
$1260
👨‍👩‍👧‍👦 Cost of living Family
$11533
$3090
🏠 One person rent
$6380
$654
🏘️ Family rent
$7892
$1202
🍽️ Food expenses
$713
$442
🚐 Transport expenses
$58.8
$67.1
💳 Monthly salary after tax
$6642
$856
💸 GDP per capita
$241K
$18662
😃 Human freedom index
8.7
7.57
❤️ Life expectancy
89.7
76.8
👮 Corruption perceptions index
82
35
🌐 English speaking %
40%
14%
🎓 Higher education
42
46
😀 Quality of life
86
55
🏙️ Population
38.4K
4.1M

The average cost of living in Monaco ($7366) is 485% more expensive than in Panama ($1260). Monaco ranked 1st vs 47th 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 0.9 months in Monaco compared to 0.7 months in Panama. Ranked 21st and 71st best countries to live in the world.

Salary adjustment calculator
the estimated difference in money purchasing power

Cost of living in Monaco vs Panama infographic

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Prices in Monaco vs Panama

We calculate prices for Monaco and Panama as a population-weighted mean of 2 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.

Monaco Panama
Eating Out
🍱 Lunch Menu
$21.8
$11.3
🥂 Dinner in a Restaurant, for 2
$90.2
$54.2
🥪 Fast food meal, equiv. McDonald's
$12.2
$7.61
🍻 Beer in a Pub, 0.5 L or 16 fl oz
$9.21
$2.82
 Cappuccino
$5.33
$3.96
🥤 Pepsi / Coke, 0.5 L or 16.9 fl oz
$4.84
$1.88
Rent & Utilities
🏙️ 1 bedroom apartment in Downtown, 40 m2 or 430 ft2
$6695
$699
🏡 Cheap 1 bedroom apartment, 40 m2 or 430 ft2
$5958
$483
🏙️ 3 bedroom apartment in Downtown, 80 m2 or 860 ft2
$6813
$1448
🏡 Cheap 3 bedroom apartment, 80 m2 or 860 ft2
$7685
$928
🔌 Utility Bill one person, electricity, heating, water, etc.
$195
$80
🔌 Utility Bill for a Family, electricity, heating, water, etc.
$302
$122
🌐 Internet plan, 50 Mbps+ 1 month unlimited
$79.4
$47.6
🏦 Mortgage Interest Rate for 20 Years
2.64%
6.19%
🏙️ Apartment price to Buy in city Center, 1 m2 or 10 ft2
$80111
$2352
🏡 House price to Buy in Suburbs, 1 m2 or 10 ft2
$66091
$1504
Transportation
🚌 Local transport ticket
$2.16
$0.4
🎟️ Monthly ticket local transport
$28.3
$30.2
🚕 Taxi Ride, 8 km or 5 mi
$21.8
$14.8
 Gas / Petrol, 1 L or 0.26 gal
$2.37
$1.05
Groceries
🥛 Milk, 1 L or 1 qt
$2.18
$1.77
🍞 Bread, 0.5 kg or 1.1 lb
$5.32
$2.23
🍚 Rice, 1 kg or 2.2 lb
$4.03
$2.26
🥚 Eggs, x12
$4.25
$2.67
🧀 Cheese, 1 kg or 2.2 lb
$16.6
$12.5
🐔 Chicken Breast, 1 kg or 2.2 lb
$13.1
$7.36
🥩 Round Steak, 1 kg or 2.2 lb
$16.7
$9.88
🍏 Apples, 1 kg or 2.2 lb
$3.56
$3.32
🍌 Banana, 1 kg or 2.2 lb
$2.78
$1.54
🍊 Oranges, 1 kg or 2.2 lb
$3.37
$3.08
🍅 Tomato, 1 kg or 2.2 lb
$4.1
$2.92
🥔 Potato, 1 kg or 2.2 lb
$2.15
$2.23
🧅 Onion, 1 kg or 2.2 lb
$3.33
$2.51
🌊 Water, 1 L or 1 qt
$1
$1.01
🍹 Coca-Cola / Pepsi, 2 L or 67.6 fl oz
$3.76
$2.44
🍾 Wine (mid-priced), 750 mL bottle
$14
$8.84
🍺 Beer, 0.5 L or 16 fl oz
$1.87
$1.11
🚬 Cigarette pack
$13.1
$5.89
💊 Cold medicince, 1 week
$17.4
$12.1
🧴 Hair Shampoo
$11
$6.01
🧻 Toilet paper, 4 rolls
$3.36
$2.89
👄 Toothpaste, 1 tube
$5.95
$2.65
Other
🏋️ Gym Membership, 1 month
$84.2
$38.9
🎫 Cinema Ticket, 1 person
$14.6
$6.51
👩‍⚕️ Doctor's visit
$86.5
$45.6
💇 Haircut, simple
$37.5
$11.5
👖 Brand Jeans
$103
$53.1
👟 Brand Sneakers
$192
$86.4
👶 Daycare or Preschool, 1 month
$2163
$438
🏫 International Primary School, 1 year
$36628
$9292

Cost of living in other countries

Cost of living

More countries to compare

Cost of Living in Popular cities

In Monaco

City Cost of living Population
Monaco City
$7469
38.4K
Monte Carlo
$7107
15.2K

In Panama

City Cost of living Population
Panama City
$1384
881K
Colon
$1182
242K
Tocumen
$1231
103K
Santiago de Veraguas
$1056
89K
La Chorrera
$953
68.9K
Balboa
$1249
62.9K
David
$833
82.9K
Pacora
$1249
52.5K
Chitre
$1091
46.2K
Penonome
$1098
21.7K