How
Much Does it Cost to Live in Panama?
An
important factor that determines the cost of
living for foreigners in Panama is their lifestyle.
If you are used to a wealthy lifestyle, you
will spend more than someone accustomed to living
frugally. Panama is not dirt cheap but it is
affordable.
Despite having one of the highest standards
of living in Latin America, purchasing power
is greater in Panama than in the United States
or Canada. The country is really a bargain compared
to most places. The cost of living is reasonable
and is much less than in the United States,
Canada or Europe. Foreign residents will find
their daily expenses to be significantly less
than in “first world’ countries. We will explain
the things that make this statement true.
In most areas housing costs less than what it
does in the U. S. and hired help is a steal.
A full-time maid will run under $200 monthly,
a movie will cost under $4, a gardner will cost
$10 a day and a good restaurant meal will cost
under $25.
Recently,
we had lunch at an all-you-can eat buffet at
a nice hotel in downtown Panama City. The bill
for two was just under $25 for all the food
you can eat plus beverages and a table of mouth-watering
desserts.
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