Short answer: On the ground in Panama, plan on roughly $40–75 per person per day on a hostel budget, $100–170 in a mid-range hotel shared by two, and about $210–300 in four- and five-star comfort. A week therefore costs about $260–525 on a tight budget, $700–1,190 mid-range and $1,470–2,100 in comfort, before flights. For a reality check, figures reported from Panama’s tourism data show visitors staying about eight days and spending about $2,289 each per stay in 2025, or close to $286 a day.
Panama is one of the easiest countries in Latin America to budget for: it uses the US dollar, the Metro in Panama City costs 35 cents a ride, and many of the best experiences, from watching ships at the canal to walking the old quarter, cost little. The big variables are where you sleep in Panama City and how you reach the islands. This guide breaks the costs down with figures from official sources, so you can build a realistic budget for your trip to Panama. The Panamanian balboa is fixed at par with the US dollar; Panama uses US banknotes and its own balboa coins, so there is nothing to exchange if you carry dollars. Use our Money exchange tool to convert into your own currency.
Panama daily costs at a glance
These example days are built from the sourced prices further down this page: one person, one day in Panama City. They leave out flights, domestic flights, island tours, shopping and nightlife.
| Per person, per day | Budget | Mid-range | Comfort |
|---|---|---|---|
| Bed | Hostel dorm bed: $11–20 | Half of a $60–180 room: $30–90 | Half of a four- or five-star room at about $210–290: $105–145 |
| Food | Two inexpensive meals or a fast-food meal: $25–35 | Lunch, half of a $47.50 dinner for two, coffee and a beer: about $45 | Lunch, half of an $85 dinner for two, drinks: $70–80 |
| Local transport | Metro rides at $0.35: $1–2 | Metro plus a taxi or ride-hail: $10–20 | Taxis: $20–40 |
| Sights | Free walks, or the Miraflores Locks: $0–17 | One canal or Panamá Viejo ticket: about $17 | One or two paid sights: $17–34 |
| Total | About $40–75 | About $100–170 | About $210–300 |
The dorm and private-room figures are the average prices on the hostel booking site Hostelz in 2026; the four- and five-star range is the average price shown by the travel search site Skyscanner for Panama City; restaurant and taxi prices are typical October 2026 Panama City prices from the crowd-sourced Numbeo index; sight prices are the official ticket prices. Hotel prices often exclude the 10% lodging tax (see below). Treat these as typical ranges, not quotes.
What visitors actually spend in Panama
Visitor profile figures reported from Panama’s tourism data in January 2026 put the average stay at around eight days and total spending at about $2,289 per visitor, close to $286 a day. A report on the first four months of 2026 gave a similar picture: about eight days and about $2,051 per stay. The Central American Tourism Integration Secretariat (SITCA) puts Panama’s average daily visitor spending at $274 in 2025, the highest in Central America and up from $270 in 2024. These figures include hotels, food, tours and shopping on the ground, but not the flight to Panama.
On our Travel costs by country scale, which compares hotel, restaurant and transport prices with the United States (US = 100), Panama scores 46, in our “inexpensive” band. In plain words, everyday travel such as a simple meal, a bus or a Metro ride costs a little under half of what it would at home. Panama City’s international hotels and island lodges are the exception: they are priced for visitors, which is why the average visitor spends close to $280 a day. Panama sits close to Colombia (50) on the same scale and below Costa Rica (67) and Mexico (69).
Accommodation costs
Hostels are cheap and plentiful in Panama City, Bocas del Toro and Boquete. Hostelz’s 2026 data put the average dorm bed in Panama at about $11 a night and the average private room in a hostel at about $61, with higher prices on weekends, in peak season and at festivals. Guesthouses and small hotels fill the space between that and the international hotels.
At the top end, Skyscanner’s Panama City pages show average prices of about $208 a night for a four-star hotel and $286 for a five-star hotel, before taxes, though deals appear well below that. Panama City has a deep supply of business hotels, so weekends and the green season can be good value. In Guna Yala (San Blas), stays are simple cabins and island lodges run by Guna families, usually sold as packages with boat transfers and meals.
Registered hotels and other tourist lodgings charge a 10% tax on the room rate. Check whether a price includes it before you book.
Food and drink costs
Numbeo’s October 2026 Panama City figures show a meal at an inexpensive restaurant at about $11.50 (range $5–20), a three-course dinner for two at a mid-range restaurant, without drinks, at about $47.50 (range $40–85), a fast-food combo at $8, a half-liter of local draft beer at about $3.30 and a cappuccino at about $4.10. Local fondas serving rice, beans and stews are the cheapest way to eat, while restaurants in Casco Viejo and on the islands cost more.
Getting around Panama
- Panama City Metro: a regular Metro fare is $0.35, paid with a rechargeable card that also works on MetroBus. Line 2 has a branch to Tocumen International Airport.
- Airport: Tocumen is about 40 minutes from downtown. The official taxi cooperative at the arrivals exits charges fixed prices by destination, and a free shuttle links Terminals 1 and 2.
- Taxis: city taxis do not use meters, so agree on the fare first. Numbeo’s figures suggest about $2.50 to start and $1.81 per kilometer as a guide; ride-hailing apps also work in the city.
- Long distances: buses from Albrook terminal reach David in about six hours, from where Boquete is about 50 minutes by road. Flights to Bocas del Toro take about 45 minutes from Albrook airport and save a long overland trip.
- San Blas: only licensed 4×4 vehicles approved by the Guna General Congress drive the road to the coast, about 2.5 hours from Panama City, and then a boat takes you to the islands.
The Guna General Congress publishes official round-trip boat fares per person from its mainland ports to the tourist islands, from $20 for the closest islands to $75 for the farthest, in its list updated in December 2022. Each visitor also pays a community fee at the entrance to the region; the Congress does not publish the current amount, so ask your lodge or transport company. Our Panama itinerary shows how to fit the canal, the islands and the highlands into one trip.
Sightseeing fees and free things to do
| Sight (non-resident adult) | Entry, as of October 2026 |
|---|---|
| Miraflores Locks Visitor Center, Panama Canal (includes IMAX film) | $17.22; children 6–12 $7.22; under 6 free |
| Panamá Viejo archaeological site and museum | $17; children $5; under 6 free |
| Agua Clara Visitor Center (Atlantic locks) | $5–10 |
| Interoceanic Canal Museum, Casco Viejo | $5–15 |
| Panama Canal Interactive Center, Calle Gorgas | Free |
The Panamá Viejo ticket includes the park, museum, cathedral viewpoint and internal transport. At Miraflores, ships pass in the morning and in the afternoon, and the canal authority posts the day’s transit windows on its website, so time your visit to see a ship in the locks.
Many of Panama’s highlights are free: walking the streets and plazas of Casco Viejo, the Cinta Costera waterfront and the Amador Causeway, sunset views of the skyline, and the beaches of Bocas del Toro and the Pacific coast. See our beaches, snorkeling and hiking pages for more, and our top places to visit in Panama for the country’s highlights.
Visitor taxes and entry costs
- Departure tax: $40, normally included in your airline ticket, so you do not pay it at the airport.
- Lodging tax: 10% on the room rate at registered hotels and tourist lodgings.
- Proof of funds: Panama’s immigration service asks visitors to be able to show at least $500 for their stay, by cash, credit card or bank statement, plus a return or onward ticket. This is not a fee, but have your card or statement ready.
- Guna Yala: a visitor fee is collected at the entrance to the region, and island boat fares are set by the Guna General Congress.
A sample mid-range week
Here is one person’s share of a mid-range week in and around Panama City, sharing a room with a partner and using the example day above:
| Item (per person, 7 nights) | Cost |
|---|---|
| Half of a $60–180 room | $210–630 |
| 10% lodging tax on that share | $21–63 |
| Food, at about $45 a day | About $315 |
| Metro, taxis and ride-hail, $10–20 a day | $70–140 |
| Miraflores Locks and Panamá Viejo | About $34 |
| Total, before flights and island trips | About $650–1,180 |
Swapping three nights for a San Blas island package or a flight to Bocas del Toro changes the total more than anything else, so price those separately.
Tipping in Panama
In restaurants, a tip of about 10% is customary, and some places add it to the bill as a service charge, so check before paying extra. Small tips for guides, boat crews and hotel staff are appreciated. Our tip calculator works out amounts on the spot.
Money-saving tips for Panama
- Travel in the green season. From mid-May to November, outside the November holidays, hotels and tours cut their rates; expect afternoon rain. See our best time to visit Panama guide.
- Ride the Metro. At $0.35 a ride, it is far cheaper than taxis for crossing Panama City, and Line 2 reaches the airport.
- Eat at fondas. Simple local lunch places serve filling plates for a fraction of Casco Viejo restaurant prices.
- Pick one canal visit. Miraflores is the classic; the free Interactive Center adds context at no cost.
- Carry small bills. Many shops and taxis refuse $50 and $100 notes, and ATMs are scarce outside the main towns and in Guna Yala.
- Book San Blas as a package. Transport, a cabin and meals sold together are usually simpler than arranging each part.
Plan your trip: our free trip planner can build a day-by-day plan for Panama from our guides, including Panama City, Boquete, Bocas del Toro and the San Blas Islands. Then use the Money exchange tool to convert dollars into your own currency, and the Destination weather tool to pick your dates.
Frequently asked questions
How much money do I need for a week in Panama?
Using the example days above, seven days on the ground cost roughly $260–525 per person on a hostel budget, $700–1,190 mid-range and $1,470–2,100 in comfort, before flights, island packages and domestic flights. Visitors spent about $2,289 per stay on average in 2025, over about eight days.
Is Panama expensive?
Everyday costs are low: a Metro ride is $0.35 and a simple restaurant meal costs about $11.50 in Panama City. Upscale hotels, island lodges and tours cost close to US prices, which is why the average visitor spends about $274–286 a day. A hostel-and-fonda trip costs a fraction of that.
Do I need cash in Panama?
Yes, some. Cards work in hotels, malls and most restaurants in Panama City, but small cafés, taxis, markets and island boat operators often want cash. Carry small US bills, since $50 and $100 notes are often refused, and withdraw money before heading to Guna Yala, where there are no ATMs.
Do I need to change money for Panama?
Not if you carry US dollars. The balboa is fixed at par with the dollar, US banknotes are the paper money in use, and you may get balboa coins in change; they have the same value as US coins.
How much does a San Blas trip cost?
The official round-trip boat fare from the mainland ports to the tourist islands runs from $20 to $75 per person, depending on the island, plus the 4×4 transfer from Panama City, the community visitor fee and your cabin with meals. Most visitors book these together as a package.
What is the cheapest month to visit Panama?
The green season from mid-May to November, outside the November holidays, has the lowest hotel and tour prices and the quietest islands, with rain mostly in the afternoons. See our best time to visit Panama guide.