Cost of living comparison
Reykjavik is 64.3% more expensive than Panama City.
If you lived in Reykjavik instead of Panama City, you would:
pay 76.3% more for restaurants
Panama City
|
Reykjavik
|
||
---|---|---|---|
Basic meal with drink at inexpensive restaurant |
$10.00
PAB10.00
|
$18.40
kr2,599
|
|
Fast food combo meal
McDonalds, or similar
|
$7.00
PAB7.00
|
$15.62
kr2,207
|
|
Bottle of Coca-Cola (11 fl. oz) |
$1.73
PAB1.73
|
$2.53
kr358
|
|
Bottle of water (11 fl. oz) |
$1.34
PAB1.34
|
$2.03
kr286
|
|
pay 47.1% more for groceries
Panama City
|
Reykjavik
|
||
---|---|---|---|
Bread
1 loaf
|
$2.36
PAB2.36
|
$3.40
kr481
|
|
Local cheese (8 oz) |
$4.56
PAB4.56
|
$7.20
kr1,016
|
|
Milk (1 gallon) |
$6.17
PAB6.17
|
$5.90
kr833
|
|
Eggs
1 dozen
|
$2.20
PAB2.20
|
$5.64
kr797
|
|
Boneless chicken breast (1 lb) |
$3.23
PAB3.23
|
$8.08
kr1,142
|
|
Apples (1 lb) |
$1.43
PAB1.43
|
$1.57
kr221
|
|
Bananas (1 lb) |
$0.60
PAB0.60
|
$0.93
kr132
|
|
Oranges (1 lb) |
$1.36
PAB1.36
|
$1.23
kr174
|
|
Tomatoes (1 lb) |
$1.53
PAB1.53
|
$2.22
kr313
|
|
Potatoes (1 lb) |
$0.89
PAB0.89
|
$1.24
kr176
|
|
Onions (1 lb) |
$0.94
PAB0.94
|
$0.69
kr97
|
|
pay 2.0 times more for transportation
Panama City
|
Reykjavik
|
||
---|---|---|---|
Gasoline (1 gallon) |
$4.18
PAB4.18
|
$8.90
kr1,257
|
|
Monthly public transit pass |
$25.00
PAB25.00
|
$65.56
kr9,260
|
|
New Volkswagen Golf 1.4 (standard edition) |
$22,250.00
PAB22,250.00
|
$37,150.35
kr5,247,487
|
|
Taxi trip in downtown area (5 miles) |
$16.80
PAB16.80
|
$29.44
kr4,159
|
|
pay 64.6% more for housing
Panama City
|
Reykjavik
|
||
---|---|---|---|
Internet connection
50 mbps or faster, cable/dsl
|
$50.20
PAB50.20
|
$64.04
kr9,046
|
|
1-Bedroom apartment in downtown area |
$900.91
PAB900.91
|
$1,613.16
kr227,859
|
|
1-Bedroom apartment outside city center |
$515.48
PAB515.48
|
$1,379.70
kr194,883
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$82.33
PAB82.33
|
$69.31
kr9,791
|
|
pay 34.0% less for childcare
Panama City
|
Reykjavik
|
||
---|---|---|---|
Private preschool for 1 child, monthly |
$420.62
PAB420.62
|
$282.44
kr39,894
|
|
Middle school for 1 child, two semesters |
$9,343.71
PAB9,343.71
|
$6,058.18
kr855,718
|
|
pay 2.2 times more for entertainment and sports
Panama City
|
Reykjavik
|
||
---|---|---|---|
Domestic/local beer (1 pint) |
$2.50
PAB2.50
|
$9.47
kr1,338
|
|
Cappuccino in mid-range area |
$3.51
PAB3.51
|
$4.53
kr640
|
|
Pack of cigarettes
Marlboro or similar
|
$5.78
PAB5.78
|
$11.66
kr1,646
|
|
Monthly membership at local gym |
$42.79
PAB42.79
|
$67.30
kr9,507
|
|
Movie ticket to theater/cinema |
$6.00
PAB6.00
|
$13.66
kr1,929
|
|
pay 73.1% more for clothing
Panama City
|
Reykjavik
|
||
---|---|---|---|
Regular jeans
Levi's brand
|
$53.50
PAB53.50
|
$108.17
kr15,278
|
|
Regular dress
from H&M or similar store
|
$41.33
PAB41.33
|
$43.41
kr6,132
|
|
Running shoes
Nike or Adidas
|
$74.88
PAB74.88
|
$137.74
kr19,456
|
|
Men's business shoes (leather) |
$90.67
PAB90.67
|
$182.49
kr25,777
|
|
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