Cost of living comparison
Reykjavik is 69.9% more expensive than Panama City.
If you lived in Reykjavik instead of Panama City, you would:
pay 93.7% more for restaurants
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$8.00
PAB8.00
|
$18.96
kr2,593
|
|
|
Fast food combo meal
McDonalds, or similar
|
$6.50
PAB6.50
|
$15.17
kr2,074
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$1.71
PAB1.71
|
$2.56
kr350
|
|
| Bottle of water (11 fl. oz) |
$1.36
PAB1.36
|
$2.10
kr287
|
|
pay 55.6% more for groceries
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$2.00
PAB2.00
|
$3.16
kr433
|
|
| Local cheese (8 oz) |
$3.84
PAB3.84
|
$7.18
kr982
|
|
| Milk (1 gallon) |
$5.94
PAB5.94
|
$5.92
kr810
|
|
|
Eggs
1 dozen
|
$2.10
PAB2.10
|
$5.76
kr787
|
|
| Boneless chicken breast (1 lb) |
$3.21
PAB3.21
|
$7.97
kr1,090
|
|
| Apples (1 lb) |
$1.29
PAB1.29
|
$1.55
kr212
|
|
| Bananas (1 lb) |
$0.60
PAB0.60
|
$1.01
kr138
|
|
| Oranges (1 lb) |
$1.13
PAB1.13
|
$1.09
kr149
|
|
| Tomatoes (1 lb) |
$1.44
PAB1.44
|
$2.10
kr287
|
|
| Potatoes (1 lb) |
$0.86
PAB0.86
|
$1.21
kr166
|
|
| Onions (1 lb) |
$0.89
PAB0.89
|
$0.65
kr89
|
|
pay 72.5% more for transportation
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$3.91
PAB3.91
|
$7.74
kr1,059
|
|
| Monthly public transit pass |
$30.00
PAB30.00
|
$60.67
kr8,297
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$24,250.00
PAB24,250.00
|
$34,127.10
kr4,666,882
|
|
| Taxi trip in downtown area (5 miles) |
$18.10
PAB18.10
|
$26.95
kr3,685
|
|
pay 73.8% more for housing
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$45.03
PAB45.03
|
$71.50
kr9,777
|
|
| 1-Bedroom apartment in downtown area |
$888.75
PAB888.75
|
$1,563.60
kr213,822
|
|
| 1-Bedroom apartment outside city center |
$498.21
PAB498.21
|
$1,307.54
kr178,806
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$78.77
PAB78.77
|
$77.31
kr10,573
|
|
pay 24.8% less for childcare
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$370.00
PAB370.00
|
$368.36
kr50,373
|
|
| Middle school for 1 child, two semesters |
$13,778.67
PAB13,778.67
|
$7,015.02
kr959,303
|
|
pay 2.3 times more for entertainment and sports
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$2.50
PAB2.50
|
$9.10
kr1,244
|
|
| Cappuccino in mid-range area |
$3.25
PAB3.25
|
$4.68
kr640
|
|
|
Pack of cigarettes
Marlboro or similar
|
$5.80
PAB5.80
|
$12.32
kr1,685
|
|
| Monthly membership at local gym |
$41.92
PAB41.92
|
$75.09
kr10,269
|
|
| Movie ticket to theater/cinema |
$5.59
PAB5.59
|
$13.65
kr1,867
|
|
pay 89.5% more for clothing
|
Panama City
|
Reykjavik
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$51.92
PAB51.92
|
$114.62
kr15,674
|
|
|
Regular dress
from H&M or similar store
|
$41.60
PAB41.60
|
$46.77
kr6,395
|
|
|
Running shoes
Nike or Adidas
|
$72.79
PAB72.79
|
$146.94
kr20,094
|
|
| Men's business shoes (leather) |
$91.92
PAB91.92
|
$205.08
kr28,044
|
|
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