Budget · Panama City · Panama
Panama City on a budget
What a trip to Panama City really costs, and where the savings are.
Updated By the AMZBooking editorial team
Photo: Garcia.dennis, CC BY-SA 4.0
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Quick answer
Panama City is moderately priced for most international visitors. Budget roughly $50–$90 per person per day on a tight budget, $120–$220 mid-range and $300–$700 for luxury, excluding flights. Hotel prices are usually lowest in May–June and September–October.
Key facts
- Budget traveller
- $50–$90 a day
- Mid-range
- $120–$220 a day
- Luxury
- $300–$700 a day
- Local currency
- USD
- Free sights
- 8
Daily budget and trip cost
AMZBooking estimates per person in US dollars, excluding flights, reviewed October 2026. Accommodation is the biggest variable; prices rise in peak months.
| Style | Per day | 3 days | 5 days | 7 days |
|---|---|---|---|---|
| Budget | $50–$90 | $150–$270 | $250–$450 | $350–$630 |
| Mid-range | $120–$220 | $360–$660 | $600–$1,100 | $840–$1,540 |
| Luxury | $300–$700 | $900–$2,100 | $1,500–$3,500 | $2,100–$4,900 |
Typical prices
Approximate prices in Panama City, October 2026. They change; use them for planning, not as quotes.
| Item | Typical price |
|---|---|
| Metro ride | about US$0.35–US$1 |
| Ride-hailing across the city | about US$4–US$10 |
| Cup of ceviche at the fish market | about US$3–US$6 |
| Fonda set lunch | about US$5–US$9 |
| Miraflores Locks visitor centre entry | about US$17–US$25 |
| Cocktail on a Casco Viejo rooftop | about US$10–US$16 |
| Mid-range restaurant dinner with a drink | about US$25–US$50 per person |
Money-saving tips
- Use the Metro and ride-hailing rather than hotel taxis, which charge more.
- Eat at fondas for set lunches at a fraction of restaurant prices.
- Walking the Cinta Costera, the Amador Causeway and Casco Viejo costs nothing.
- Visit in the rainy season, May to November, for lower hotel rates.
- Bring small US dollar notes; large notes such as US$50 and US$100 are often refused.
- Book canal transits and island tours directly with established operators to compare prices.
Free things to do
- Casco Viejo — Founded in 1673 after the original city was destroyed, the old town is a grid of narrow streets with Spanish colonial, French and Art Deco buildings, many restored after decades of decline.
- Plaza de Francia and Las Bóvedas — At the tip of the old town peninsula, the Plaza de Francia has an obelisk and busts honouring the French engineers and workers who attempted to build the canal in the 1880s.
- Iglesia de San José — This simple church hides Panama's best-known altarpiece, the Altar de Oro, a baroque altar of carved mahogany covered in gold leaf.
- Catedral Metropolitana — The cathedral on the Plaza de la Independencia, with twin white bell towers, took more than a century to complete and was restored in the 2010s.
- Amador Causeway — Built with rock excavated during the canal's construction, the causeway links the mainland with the islands of Naos, Perico and Flamenco.
- Cinta Costera — The coastal park built on reclaimed land along Avenida Balboa has kilometres of walking and cycling paths, sports courts and playgrounds facing the bay.
Where to stay on a budget
$$ · Best for first-timers, families and solo travellers
Bella Vista and Avenida Balboa
High-rise seafront along the Cinta Costera park
$$ · Best for food lovers, budget and solo travellers
El Cangrejo
Restaurants and cafés around Vía Argentina
Eating well for less
- Patacones — Almost every restaurant and fonda; they come with fish, ceviche and meats.
- Carimañolas — Bakeries, breakfast counters and fondas, especially in the mornings.
- Hojaldras — Fondas and breakfast cafés throughout the city.
Getting around for less
Metro and MetroBus card
A rechargeable contactless card sold at Metro stations, used for both the Metro and MetroBus; top it up at station machines.
Questions travellers ask
+How much does a trip to Panama City cost?
About $600–$1,100 per person for five days mid-range, excluding flights (estimate), or $250–$450 on a tight budget.
+Is Panama City expensive?
It is moderately priced for international visitors. Use the Metro and ride-hailing rather than hotel taxis, which charge more.
+How much money do I need per day in Panama City?
Roughly $50–$90 on a budget and $120–$220 mid-range (estimates).
+When are hotel prices lowest in Panama City?
Usually in May–June and September–October.