Is Panama expensive? What things really cost in 2026
Short answer
Panama is mid-priced for Central America: a budget day costs about US$65 per person and a mid-range day about US$155, more than Nicaragua or Guatemala but less than Costa Rica. Boutique hotels in Casco Viejo, domestic flights and the San Blas trip are the main costs; Bocas hostels, street food and the Panama City Metro are cheap.
Daily budget: backpacker, mid-range, luxury
| Budget | Mid-range | Comfort | |
|---|---|---|---|
| Bed (per person, sharing) | US$20 | US$55 | US$140 |
| Food & drink | US$20 | US$40 | US$80 |
| Sights & tickets | US$15 | US$35 | US$70 |
| Local transport | US$10 | US$25 | US$50 |
| Per person, per day | US$65 | US$155 | US$340 |
Approximate 2026 prices, two people sharing a room. From our Panama day-cost table.
What things cost
| Item | Typical price* |
|---|---|
| Cup of ceviche at the Mercado de Mariscos | US$3-5 |
| Fried whole fish at the fish market | US$10-15 |
| Panama City Metro ride | under US$1 |
| Uber in central Panama City | a few dollars, usually under US$10 |
| Miraflores Locks visitor centre | about US$20 for foreigners |
| Panamá Viejo ruins | about US$15 |
| Bocas del Toro full-day boat tour | about US$30-40 plus park fees |
| Mid-range Casco Viejo double | US$110-200 |
* Approximate prices, October 2026. They change with season and exchange rates.
Where the money goes
Accommodation in Panama City is the biggest daily cost: Casco Viejo's restored hotels run US$110-200 for a mid-range double and much more for boutique places, plus about 10% tax. Domestic flights from Albrook to Bocas or David (often around US$100-150 one way) and the San Blas trip, with 4x4 transport, launches, cabins and the Guna Yala fees paid in cash, are the other big items. Food at markets and fondas is cheap, and Bocas Town has the cheapest beds in the country.
When it is cheaper
Hotel prices are usually lower during the May-November rainy season, outside Panamanian holidays, often by 15-30%; Christmas, New Year, Carnival and Easter are the most expensive times.
How to spend less
- Take the overnight bus from the Albrook terminal to David (about 7 hours) instead of flying.
- Use the Metro and Uber in Panama City rather than unmetered taxis.
- Eat ceviche and fried fish at the Mercado de Mariscos instead of Casco Viejo restaurants.
- Bring enough cash for San Blas: the Guna Yala fees and small purchases are cash only.
- Stay in Bocas Town or El Cangrejo hostels (from about US$25-60 a double).
- Book shuttle vans between Boquete and Bocas rather than flying via the capital.
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Common questions
How much does a day in Panama cost?
About US$65 per person on a budget, US$155 mid-range and about US$340 for comfort, sharing a double.
What currency does Panama use?
The US dollar, alongside Panama's own balboa coins, which have the same value.
How much is a San Blas trip?
Overnight packages with transport, meals and a basic cabin typically cost a few hundred dollars per person; the Guna Yala fees are extra and paid in cash.