By most standards, Panama is inexpensive. Those coming from North America or Europe will find Panama cheap, while South American or Central American travelers will find the prices comparable. That said, how much you spend here depends on how you want to travel. If you’re inclined towards upscale accommodations and fancier restaurants, your travel bill will be sizably larger than the budget traveler staying in dorm rooms and subsisting on street food. Even so, the most posh accommodations are still affordable by some standards.
A typical breakfast (which often includes eggs and tortillas) will cost between $2-5. Lunch is similar, but may be a dollar or two more. The same goes for dinner. These prices are, however, for typical Panamanian food. Any meals catered towards tourists will be pricier and usually cost between $7-14. Buying a beer in a typical restaurant or bar will cost you $1-2, but nicer places can double or triple the amount. A bottle of water costs around $1 (tap water in Panama is generally clean, so buying water isn’t always necessary). Taxi rides are inexpensive and within most places shouldn’t be more than a few dollars, unless you’re going far. Small souvenirs go for under $10, larger ones for $20.
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