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
ISK2,996
|
|
|
Fast food combo meal
McDonalds, or similar
|
$8.25
PAB8.25
|
$17.27
ISK2,397
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$1.76
PAB1.76
|
$2.90
ISK403
|
|
| Bottle of water (11 fl. oz) |
$1.33
PAB1.33
|
$2.07
ISK288
|
|
pay 50.5% more for groceries
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$2.40
PAB2.40
|
$3.68
ISK511
|
|
| Local cheese (8 oz) |
$5.44
PAB5.44
|
$7.66
ISK1,063
|
|
| Milk (1 gallon) |
$6.66
PAB6.66
|
$6.16
ISK855
|
|
|
Eggs
1 dozen
|
$2.54
PAB2.54
|
$5.91
ISK820
|
|
| Boneless chicken breast (1 lb) |
$3.39
PAB3.39
|
$8.87
ISK1,231
|
|
| Apples (1 lb) |
$1.40
PAB1.40
|
$1.53
ISK212
|
|
| Bananas (1 lb) |
$0.62
PAB0.62
|
$0.97
ISK134
|
|
| Oranges (1 lb) |
$1.30
PAB1.30
|
$1.26
ISK175
|
|
| Tomatoes (1 lb) |
$1.41
PAB1.41
|
$2.23
ISK309
|
|
| Potatoes (1 lb) |
$0.94
PAB0.94
|
$1.42
ISK196
|
|
| Onions (1 lb) |
$0.97
PAB0.97
|
$1.01
ISK140
|
|
pay 2.1 times more for transportation
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$3.69
PAB3.69
|
$8.57
ISK1,190
|
|
| Monthly public transit pass |
$25.00
PAB25.00
|
$66.92
ISK9,287
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$22,250.00
PAB22,250.00
|
$41,660.67
ISK5,781,668
|
|
| Taxi trip in downtown area (5 miles) |
$14.00
PAB14.00
|
$23.30
ISK3,233
|
|
pay 71.6% more for housing
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$51.82
PAB51.82
|
$68.45
ISK9,499
|
|
| 1-Bedroom apartment in downtown area |
$925.91
PAB925.91
|
$1,864.13
ISK258,704
|
|
| 1-Bedroom apartment outside city center |
$598.61
PAB598.61
|
$1,666.20
ISK231,235
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$86.14
PAB86.14
|
$64.43
ISK8,942
|
|
pay 39.7% less for childcare
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$408.12
PAB408.12
|
$240.37
ISK33,358
|
|
| Middle school for 1 child, two semesters |
$9,675.75
PAB9,675.75
|
$5,984.07
ISK830,470
|
|
pay 2.3 times more for entertainment and sports
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$2.50
PAB2.50
|
$10.79
ISK1,498
|
|
| Cappuccino in mid-range area |
$3.70
PAB3.70
|
$5.09
ISK706
|
|
|
Pack of cigarettes
Marlboro or similar
|
$5.75
PAB5.75
|
$11.87
ISK1,648
|
|
| Monthly membership at local gym |
$40.93
PAB40.93
|
$65.50
ISK9,090
|
|
| Movie ticket to theater/cinema |
$7.00
PAB7.00
|
$14.39
ISK1,997
|
|
pay 64.7% more for clothing
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$53.94
PAB53.94
|
$103.94
ISK14,425
|
|
|
Regular dress
from H&M or similar store
|
$40.79
PAB40.79
|
$43.50
ISK6,036
|
|
|
Running shoes
Nike or Adidas
|
$82.58
PAB82.58
|
$141.47
ISK19,634
|
|
| Men's business shoes (leather) |
$92.86
PAB92.86
|
$174.65
ISK24,238
|
|
Change currency:
ASK THE ELSEWHERE COMMUNITY
Join the Elsewhere community and ask a question about Reykjavik or Panama City. It's a free, question-and-answer based forum to discuss what life is like in countries and cities around the world.