Cost of living comparison
Iceland is 58.3% more expensive than Panama City.
If you lived in Iceland instead of Panama City, you would:
pay 65.5% more for restaurants
Panama City
|
Iceland
|
||
---|---|---|---|
Basic meal with drink at inexpensive restaurant |
$12.00
PAB12.00
|
$19.51
ISK2,723
|
|
Fast food combo meal
McDonalds, or similar
|
$8.25
PAB8.25
|
$16.45
ISK2,295
|
|
Bottle of Coca-Cola (11 fl. oz) |
$1.76
PAB1.76
|
$2.70
ISK377
|
|
Bottle of water (11 fl. oz) |
$1.33
PAB1.33
|
$1.95
ISK273
|
|
pay 32.2% more for groceries
Panama City
|
Iceland
|
||
---|---|---|---|
Bread
1 loaf
|
$2.40
PAB2.40
|
$3.16
ISK440
|
|
Local cheese (8 oz) |
$5.44
PAB5.44
|
$6.72
ISK937
|
|
Milk (1 gallon) |
$6.66
PAB6.66
|
$6.27
ISK875
|
|
Eggs
1 dozen
|
$2.54
PAB2.54
|
$6.03
ISK841
|
|
Boneless chicken breast (1 lb) |
$3.39
PAB3.39
|
$7.60
ISK1,061
|
|
Apples (1 lb) |
$1.40
PAB1.40
|
$1.13
ISK157
|
|
Bananas (1 lb) |
$0.62
PAB0.62
|
$1.01
ISK141
|
|
Oranges (1 lb) |
$1.30
PAB1.30
|
$1.15
ISK161
|
|
Tomatoes (1 lb) |
$1.41
PAB1.41
|
$1.71
ISK239
|
|
Potatoes (1 lb) |
$0.94
PAB0.94
|
$1.13
ISK158
|
|
Onions (1 lb) |
$0.97
PAB0.97
|
$0.68
ISK95
|
|
pay 2.1 times more for transportation
Panama City
|
Iceland
|
||
---|---|---|---|
Gasoline (1 gallon) |
$3.69
PAB3.69
|
$8.42
ISK1,175
|
|
Monthly public transit pass |
$25.00
PAB25.00
|
$68.29
ISK9,530
|
|
New Volkswagen Golf 1.4 (standard edition) |
$22,250.00
PAB22,250.00
|
$39,714.69
ISK5,541,788
|
|
Taxi trip in downtown area (5 miles) |
$14.00
PAB14.00
|
$23.23
ISK3,241
|
|
pay 51.7% more for housing
Panama City
|
Iceland
|
||
---|---|---|---|
Internet connection
50 mbps or faster, cable/dsl
|
$51.82
PAB51.82
|
$74.47
ISK10,392
|
|
1-Bedroom apartment in downtown area |
$925.91
PAB925.91
|
$1,518.94
ISK211,953
|
|
1-Bedroom apartment outside city center |
$598.61
PAB598.61
|
$1,325.48
ISK184,957
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$86.14
PAB86.14
|
$66.99
ISK9,348
|
|
pay 37.8% less for childcare
Panama City
|
Iceland
|
||
---|---|---|---|
Private preschool for 1 child, monthly |
$408.12
PAB408.12
|
$254.97
ISK35,578
|
|
Middle school for 1 child, two semesters |
$9,675.75
PAB9,675.75
|
$5,993.83
ISK836,378
|
|
pay 2.1 times more for entertainment and sports
Panama City
|
Iceland
|
||
---|---|---|---|
Domestic/local beer (1 pint) |
$2.50
PAB2.50
|
$9.37
ISK1,308
|
|
Cappuccino in mid-range area |
$3.70
PAB3.70
|
$4.61
ISK644
|
|
Pack of cigarettes
Marlboro or similar
|
$5.75
PAB5.75
|
$11.22
ISK1,565
|
|
Monthly membership at local gym |
$40.93
PAB40.93
|
$60.00
ISK8,373
|
|
Movie ticket to theater/cinema |
$7.00
PAB7.00
|
$13.94
ISK1,945
|
|
pay 76.8% more for clothing
Panama City
|
Iceland
|
||
---|---|---|---|
Regular jeans
Levi's brand
|
$53.94
PAB53.94
|
$108.23
ISK15,103
|
|
Regular dress
from H&M or similar store
|
$40.79
PAB40.79
|
$59.73
ISK8,335
|
|
Running shoes
Nike or Adidas
|
$82.58
PAB82.58
|
$146.94
ISK20,504
|
|
Men's business shoes (leather) |
$92.86
PAB92.86
|
$169.24
ISK23,616
|
|
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