Cost of living in Panama
Living the same way in Panama costs about 50% of what it costs in the US, 55% in Canada and 54% in the UK. These are national averages from the World Bank's 2025 price levels for household spending, rent included.
What your spending becomes in Panama
Each row takes a month's spending at home, all in, and shows what living the same way costs in Panama, in your money and in USD.
| At home, a month | Same life in Panama | In USD | Compared with home |
|---|---|---|---|
| $3,000 in the US | $1,490 | same | 50% less |
| CA$4,000 in Canada | CA$2,200 | $1,580 | 45% less |
| £2,500 in the UK | £1,340 | $1,770 | 46% less |
Visa income figures for Panama
The monthly income figures for the open remote-work, retirement and freelance routes to Panama, from our routes table.
- Panama pensionado visa Retire or live on savings $1,000 a month (about CA$1,400, £760)
- Panama digital nomad visa Keep your job, work remotely $3,000 a month (about CA$4,190, £2,280)
Income is only one requirement, and many routes ask for more per family member. Job-offer and study routes are left out, because their figure is a salary or allowance in Panama, not what you earn now. Conversions use 2025 exchange rates, so check a figure close to your income at today's rate.
Panama and other countries in Latin America
What $3,000 a month in the US becomes in each country, cheapest first. The order is the same from Canada or the UK.
Read these figures with care
- National averages. Capital cities and towns popular with movers usually cost more than the national figure, rent most of all.
- 2025 figures. Prices and exchange rates move. Treat this as a first sort, then price a real flat and a real weekly shop where you'd live.
- The same life, not a cheaper one. The World Bank compares what the same basket of goods and services costs in each country at market exchange rates. Living differently there, for better or worse, changes the sum.
Source: World Bank, World Development Indicators (PPP conversion factor for private consumption, and the official exchange rate), licensed CC BY 4.0. Data updated 2026-10-08. Visa figures from our routes table, checked against official sources. General information, not financial or immigration advice.