Cost of living comparison

Panama

compared to

Colombia

Bogota vs. Panama City Cost of Living Summary

Bogota is 22.5% cheaper than Panama City.

Restaurants: pay 17.6% less in Bogota
Groceries: pay 31.8% less in Bogota
Transportation: pay 32.4% more in Bogota
Housing: pay 39.5% less in Bogota
Childcare: pay 14.9% less in Bogota
Entertainment and Sports: pay 28.6% less in Bogota
Clothing: pay 14.2% more in Bogota

The cost of transportation and clothing in Bogota are more expensive than in Panama City. Expenses including housing, groceries, entertainment and sports, restaurants, and childcare are lower in Bogota.

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Bogota vs. Panama City Cost Breakdown

If you lived in Bogota instead of Panama City, you would:

Display currency: USD

pay 17.6% less for restaurants

	Panama City	Bogota
Basic meal with drink at inexpensive restaurant	$11.50 PAB11.50	$7.72 COP24,504.06	-32.9%
Fast food combo meal McDonalds, or similar	$8.00 PAB8.00	$10.19 COP32,345.37	+27.4%
Bottle of Coca-Cola (11 fl. oz)	$1.97 PAB1.97	$1.34 COP4,267.92	-31.8%
Bottle of water (11 fl. oz)	$1.60 PAB1.60	$0.87 COP2,755.00	-45.7%
Average			-17.6%

Panama City vs. Bogota - Cost of restaurants

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pay 31.8% less for groceries

	Panama City	Bogota
Bread 1 loaf	$2.52 PAB2.52	$2.42 COP7,690.34	-3.7%
Local cheese (8 oz)	$6.18 PAB6.18	$3.93 COP12,460.95	-36.5%
Milk (1 gallon)	$7.09 PAB7.09	$6.14 COP19,479.18	-13.4%
Eggs 1 dozen	$2.75 PAB2.75	$3.39 COP10,767.09	+23.5%
Boneless chicken breast (1 lb)	$3.07 PAB3.07	$3.30 COP10,487.06	+7.7%
Apples (1 lb)	$1.87 PAB1.87	$1.56 COP4,960.76	-16.4%
Bananas (1 lb)	$0.82 PAB0.82	$0.81 COP2,555.68	-2.3%
Oranges (1 lb)	$1.92 PAB1.92	$0.87 COP2,775.49	-54.4%
Tomatoes (1 lb)	$1.86 PAB1.86	$0.79 COP2,499.80	-57.6%
Potatoes (1 lb)	$1.55 PAB1.55	$0.65 COP2,066.32	-57.9%
Onions (1 lb)	$1.96 PAB1.96	$0.63 COP1,985.15	-68.0%
Average			-31.8%

Panama City vs. Bogota - Cost of groceries

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pay 32.4% more for transportation

	Panama City	Bogota
Gasoline (1 gallon)	$4.62 PAB4.62	$4.90 COP15,551.55	+6.0%
Monthly public transit pass	$21.00 PAB21.00	$49.41 COP157K	+135.3%
New Volkswagen Golf 1.4 (standard edition)	$21,262.00 PAB21,262.00	$23,161.08 COP74M	+8.9%
Taxi trip in downtown area (5 miles)	$16.98 PAB16.98	$20.84 COP66,160.97	+22.8%
Average			+32.4%

Panama City vs. Bogota - Cost of transportation

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pay 39.5% less for housing

	Panama City	Bogota
Internet connection 50 mbps or faster, cable/dsl	$48.70 PAB48.70	$29.75 COP94,422.33	-38.9%
1-Bedroom apartment in downtown area	$1,262.50 PAB1,262.50	$779.14 COP2M	-38.3%
1-Bedroom apartment outside city center	$874.18 PAB874.18	$440.22 COP1M	-49.6%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$100.29 PAB100.29	$93.36 COP296K	-6.9%
Average			-39.5%

Panama City vs. Bogota - Cost of housing

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pay 14.9% less for childcare

	Panama City	Bogota
Private preschool for 1 child, monthly	$543.33 PAB543.33	$463.22 COP1M	-14.7%
Middle school for 1 child, two semesters	$9,641.50 PAB9,641.50	$8,195.93 COP26M	-15.0%
Average			-14.9%

Panama City vs. Bogota - Cost of childcare

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pay 28.6% less for entertainment and sports

	Panama City	Bogota
Domestic/local beer (1 pint)	$3.30 PAB3.30	$2.01 COP6,371.06	-39.2%
Cappuccino in mid-range area	$4.11 PAB4.11	$2.52 COP7,993.08	-38.7%
Pack of cigarettes Marlboro or similar	$6.00 PAB6.00	$4.32 COP13,722.28	-27.9%
Monthly membership at local gym	$46.40 PAB46.40	$33.42 COP106K	-28.0%
Movie ticket to theater/cinema	$8.50 PAB8.50	$7.72 COP24,504.06	-9.2%
Average			-28.6%

Panama City vs. Bogota - Cost of entertainment and sports

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pay 14.2% more for clothing

	Panama City	Bogota
Regular jeans Levi's brand	$66.67 PAB66.67	$82.94 COP263K	+24.4%
Regular dress from H&M or similar store	$48.43 PAB48.43	$47.35 COP150K	-2.2%
Running shoes Nike or Adidas	$94.62 PAB94.62	$141.13 COP448K	+49.1%
Men's business shoes (leather)	$111.67 PAB111.67	$104.65 COP332K	-6.3%
Average			+14.2%

Panama City vs. Bogota - Cost of clothing

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We average the price of thousands of data points entered by users across the world. Sources: MyLifeElsewhere's cost-of-living dataset (prices updated October 2026). How we calculate this

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