Panama, Panama City

Country Full Name: Republic of Panama.

Location: Panama is in Central America, bordering both the Caribbean Sea and the North Pacific Ocean, between Colombia and Costa Rica.

Country Climate: Tropical maritime; hot, humid, cloudy; prolonged rainy season (May to January), short dry season (January to May).

Country Terrain: Interior mostly steep, rugged mountains and dissected, upland plains; coastal areas largely plains and rolling hills.

Major Languages: Spanish, English.

Major Religions: Christianity.

Population: 1.3 Mil (2012 est.).

Country Economy: The Economy of Panama is free market economy with a history of low inflation. It is based mainly on the services industry, heavily weighted toward banking, commerce, and tourism.

Currency: Panamanian Balboa (PAB).

Inflation: 6.8% (2011 est.).

Panama City is the capital and largest city of the Republic of Panama.

Panama City has more than 80 banks, more than 15 of them being national. The city also boasts several tourist attractions, and is a stopover for other nearby destinations in the country as well as a tourist destination in its own right.

The cost of living in Panama City in Panama is low compared to other places. The overall cost of living is determined using the prices for defined quantities of the same goods and services across 13 Basket Groups. Panama City in Panama is currently ranked 520 overall out of 780 places (rank 1 is most expensive: rank 780 is least expensive). The cost of living rank for each of the 13 Basket Groups is as follows:

Alcohol & Tobacco costs are low compared to other places for items such as alcohol at a bar, beer, locally produced spirit, whiskey, wine (where alcohol is legally sold) and tobacco related products. There are 574 places that are more expensive, and 205 places that are less expensive for alcohol and or tobacco.

Clothing costs are low compared to other places for items such as business suits, casual clothing, children's clothing, coats, evening wear, footwear, hats, shoe repairs and underwear. There are 544 places that are more expensive, and 235 places that are less expensive for clothing.

Communication costs are very low compared to other places for various communication costs such as call charges, home telephone rental, internet connection, mobile data costs, mobile phone contract and service provider fees. There are 742 places that are more expensive, and 37 places that are less expensive for communication.

Education costs are very low compared to other places for items such as creche / pre-school fees, primary school fees, high school fees and tertiary study fees. There are 772 places that are more expensive, and 7 places that are less expensive for education.

Furniture & Appliance costs are very low compared to other places for items such as DVD player, fridge freezer, furniture, household equipment, iron, kettle, light bulbs, microwave, television, toaster, vacuum cleaner and washing machine. There are 697 places that are more expensive, and 82 places that are less expensive for furniture and appliances.

Grocery costs are low compared to other places for items such as baby consumables, baked goods, baking, canned foods, cheese, cleaning materials, cleaning products, dairy, fresh fruits, fresh vegetables, fruit juices, meat, oil & vinegars, pet food, pre-prepared meals, sauces, seafood, snacks, soft drinks, spices & herbs. There are 598 places that are more expensive, and 181 places that are less expensive for groceries.

Healthcare costs are very low compared to other places for general healthcare, general practitioner consultation rates, healthcare/medical insurance, hospital private ward daily rate and non-prescription medicine. There are 627 places that are more expensive, and 152 places that are less expensive for healthcare.

Household Accommodation costs are high compared to other places for items such as accommodation, apartment, flat, house, villa, rent, electricity, household fuels, household gas, water, and local property rates / residential taxes / levies. There are 171 places that are more expensive, and 608 places that are less expensive for household accommodation.

Miscellaneous costs are very low compared to other places for items such as dry cleaning, general goods, general services, linen, magazines, maid, newspapers, office supplies, postage stamps and stationery. There are 714 places that are more expensive, and 65 places that are less expensive for miscellaneous items.

Personal Care costs are very low compared to other places for items such as cosmetics, hair care, moisturizer, nappies, pain relief tablets, shampoo, soap, sun block, toilet paper and toothpaste. There are 741 places that are more expensive, and 38 places that are less expensive for personal care.

Recreation and Culture costs are average compared to other places for items such as books, camera, cinema tickets, fitness/health club membership, sports goods and theatre tickets. There are 336 places that are more expensive, and 443 places that are less expensive for recreation and culture.

Restaurants, Meals Out and Hotel costs are average compared to other places for items such as a business dinner, dinner at a family restaurant (non fast food), 4 star and 5 star hotel rates and take away meal (fast food). There are 366 places that are more expensive, and 413 places that are less expensive for restaurants, meals out and hotels.

Transport costs are low compared to other places for items such as car hire purchase, car insurance, car lease, car maintenance, car rental, car service, diesel, petrol, tyres and public transport. There are 574 places that are more expensive, and 205 places that are less expensive for transport.

Personalized cost of living indexes for Panama City in Panama are based on the basket groups and comparison location(s) selected in the Calculators.

In terms of the hardship people are likely to experience, assessed in global terms, Panama City in Panama is ranked as some hardship with a hardship index of 20%.

Personalized hardship index premiums for Panama City in Panama are based on the comparison location(s) selected in the Calculators.

Note: Xpatulator.com data is updated quarterly. The latest update is as at 1 April 2012. Create a personalized cost of living comparison report using the calculators:
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