Cost of living comparison
Reykjavik is 66.6% more expensive than Panama City.
If you lived in Reykjavik instead of Panama City, you would:
pay 77.4% more for restaurants
Panama City
|
Reykjavik
|
||
---|---|---|---|
Basic meal with drink at inexpensive restaurant |
$12.00
PAB12.00
|
$21.59
ISK3,012
|
|
Fast food combo meal
McDonalds, or similar
|
$8.25
PAB8.25
|
$17.27
ISK2,410
|
|
Bottle of Coca-Cola (11 fl. oz) |
$1.76
PAB1.76
|
$2.90
ISK405
|
|
Bottle of water (11 fl. oz) |
$1.33
PAB1.33
|
$2.07
ISK289
|
|
pay 50.5% more for groceries
Panama City
|
Reykjavik
|
||
---|---|---|---|
Bread
1 loaf
|
$2.40
PAB2.40
|
$3.68
ISK514
|
|
Local cheese (8 oz) |
$5.44
PAB5.44
|
$7.66
ISK1,068
|
|
Milk (1 gallon) |
$6.66
PAB6.66
|
$6.16
ISK860
|
|
Eggs
1 dozen
|
$2.54
PAB2.54
|
$5.91
ISK825
|
|
Boneless chicken breast (1 lb) |
$3.39
PAB3.39
|
$8.87
ISK1,238
|
|
Apples (1 lb) |
$1.40
PAB1.40
|
$1.53
ISK213
|
|
Bananas (1 lb) |
$0.62
PAB0.62
|
$0.97
ISK135
|
|
Oranges (1 lb) |
$1.30
PAB1.30
|
$1.26
ISK176
|
|
Tomatoes (1 lb) |
$1.41
PAB1.41
|
$2.23
ISK311
|
|
Potatoes (1 lb) |
$0.94
PAB0.94
|
$1.42
ISK197
|
|
Onions (1 lb) |
$0.97
PAB0.97
|
$1.01
ISK141
|
|
pay 2.1 times more for transportation
Panama City
|
Reykjavik
|
||
---|---|---|---|
Gasoline (1 gallon) |
$3.69
PAB3.69
|
$8.57
ISK1,196
|
|
Monthly public transit pass |
$25.00
PAB25.00
|
$66.92
ISK9,337
|
|
New Volkswagen Golf 1.4 (standard edition) |
$22,250.00
PAB22,250.00
|
$41,660.67
ISK5,813,330
|
|
Taxi trip in downtown area (5 miles) |
$14.00
PAB14.00
|
$23.30
ISK3,251
|
|
pay 71.6% more for housing
Panama City
|
Reykjavik
|
||
---|---|---|---|
Internet connection
50 mbps or faster, cable/dsl
|
$51.82
PAB51.82
|
$68.45
ISK9,551
|
|
1-Bedroom apartment in downtown area |
$925.91
PAB925.91
|
$1,864.13
ISK260,121
|
|
1-Bedroom apartment outside city center |
$598.61
PAB598.61
|
$1,666.20
ISK232,501
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$86.14
PAB86.14
|
$64.43
ISK8,991
|
|
pay 39.7% less for childcare
Panama City
|
Reykjavik
|
||
---|---|---|---|
Private preschool for 1 child, monthly |
$408.12
PAB408.12
|
$240.37
ISK33,541
|
|
Middle school for 1 child, two semesters |
$9,675.75
PAB9,675.75
|
$5,984.07
ISK835,018
|
|
pay 2.3 times more for entertainment and sports
Panama City
|
Reykjavik
|
||
---|---|---|---|
Domestic/local beer (1 pint) |
$2.50
PAB2.50
|
$10.79
ISK1,506
|
|
Cappuccino in mid-range area |
$3.70
PAB3.70
|
$5.09
ISK710
|
|
Pack of cigarettes
Marlboro or similar
|
$5.75
PAB5.75
|
$11.87
ISK1,657
|
|
Monthly membership at local gym |
$40.93
PAB40.93
|
$65.50
ISK9,140
|
|
Movie ticket to theater/cinema |
$7.00
PAB7.00
|
$14.39
ISK2,008
|
|
pay 64.7% more for clothing
Panama City
|
Reykjavik
|
||
---|---|---|---|
Regular jeans
Levi's brand
|
$53.94
PAB53.94
|
$103.94
ISK14,504
|
|
Regular dress
from H&M or similar store
|
$40.79
PAB40.79
|
$43.50
ISK6,069
|
|
Running shoes
Nike or Adidas
|
$82.58
PAB82.58
|
$141.47
ISK19,741
|
|
Men's business shoes (leather) |
$92.86
PAB92.86
|
$174.65
ISK24,371
|
|
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