Cost of living comparison

Panama

compared to

Latvia

Riga vs. Panama City Cost of Living Summary

Riga is 15.6% cheaper than Panama City.

Restaurants: pay 18.6% more in Riga
Groceries: pay 36.4% less in Riga
Transportation: pay 39.7% more in Riga
Housing: pay 40.8% less in Riga
Childcare: pay 47.4% more in Riga
Entertainment and Sports: pay 19.0% more in Riga
Clothing: pay 5.0% more in Riga

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

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Riga vs. Panama City Cost Breakdown

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

Display currency: USD

pay 18.6% more for restaurants

	Panama City	Riga
Basic meal with drink at inexpensive restaurant	$11.50 PAB11.50	$16.80 €15.07	+46.1%
Fast food combo meal McDonalds, or similar	$8.00 PAB8.00	$9.24 €8.29	+15.5%
Bottle of Coca-Cola (11 fl. oz)	$1.97 PAB1.97	$1.61 €1.45	-18.2%
Bottle of water (11 fl. oz)	$1.60 PAB1.60	$1.18 €1.06	-26.3%
Average			+18.6%

Panama City vs. Riga - Cost of restaurants

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pay 36.4% less for groceries

	Panama City	Riga
Bread 1 loaf	$2.52 PAB2.52	$1.43 €1.28	-43.2%
Local cheese (8 oz)	$6.18 PAB6.18	$5.22 €4.68	-15.6%
Milk (1 gallon)	$7.09 PAB7.09	$4.41 €3.95	-37.8%
Eggs 1 dozen	$2.75 PAB2.75	$3.76 €3.37	+36.8%
Boneless chicken breast (1 lb)	$3.07 PAB3.07	$3.91 €3.51	+27.5%
Apples (1 lb)	$1.87 PAB1.87	$1.00 €0.89	-46.8%
Bananas (1 lb)	$0.82 PAB0.82	$0.83 €0.74	+0.2%
Oranges (1 lb)	$1.92 PAB1.92	$1.13 €1.01	-41.2%
Tomatoes (1 lb)	$1.86 PAB1.86	$1.40 €1.25	-24.8%
Potatoes (1 lb)	$1.55 PAB1.55	$0.40 €0.36	-74.1%
Onions (1 lb)	$1.96 PAB1.96	$0.42 €0.38	-78.5%
Average			-36.4%

Panama City vs. Riga - Cost of groceries

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pay 39.7% more for transportation

	Panama City	Riga
Gasoline (1 gallon)	$4.62 PAB4.62	$7.75 €6.96	+67.8%
Monthly public transit pass	$21.00 PAB21.00	$33.59 €30.14	+60.0%
New Volkswagen Golf 1.4 (standard edition)	$21,262.00 PAB21,262.00	$27,308.11 €24,499.47	+28.4%
Taxi trip in downtown area (5 miles)	$16.98 PAB16.98	$11.42 €10.25	-32.7%
Average			+39.7%

Panama City vs. Riga - Cost of transportation

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pay 40.8% less for housing

	Panama City	Riga
Internet connection 50 mbps or faster, cable/dsl	$48.70 PAB48.70	$20.41 €18.31	-58.1%
1-Bedroom apartment in downtown area	$1,262.50 PAB1,262.50	$582.45 €522.54	-53.9%
1-Bedroom apartment outside city center	$874.18 PAB874.18	$385.02 €345.42	-56.0%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$100.29 PAB100.29	$286.52 €257.06	+185.7%
Average			-40.8%

Panama City vs. Riga - Cost of housing

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pay 47.4% more for childcare

	Panama City	Riga
Private preschool for 1 child, monthly	$543.33 PAB543.33	$645.25 €578.88	+18.8%
Middle school for 1 child, two semesters	$9,641.50 PAB9,641.50	$17,635.84 €15,821.99	+82.9%
Average			+47.4%

Panama City vs. Riga - Cost of childcare

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pay 19.0% more for entertainment and sports

	Panama City	Riga
Domestic/local beer (1 pint)	$3.30 PAB3.30	$5.60 €5.02	+69.7%
Cappuccino in mid-range area	$4.11 PAB4.11	$3.72 €3.34	-9.5%
Pack of cigarettes Marlboro or similar	$6.00 PAB6.00	$6.72 €6.03	+12.0%
Monthly membership at local gym	$46.40 PAB46.40	$49.91 €44.77	+7.6%
Movie ticket to theater/cinema	$8.50 PAB8.50	$10.75 €9.64	+26.5%
Average			+19.0%

Panama City vs. Riga - Cost of entertainment and sports

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pay 5.0% more for clothing

	Panama City	Riga
Regular jeans Levi's brand	$66.67 PAB66.67	$69.42 €62.28	+4.1%
Regular dress from H&M or similar store	$48.43 PAB48.43	$50.39 €45.21	+4.0%
Running shoes Nike or Adidas	$94.62 PAB94.62	$85.85 €77.02	-9.3%
Men's business shoes (leather)	$111.67 PAB111.67	$138.10 €123.90	+23.7%
Average			+5.0%

Panama City vs. Riga - 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 November 2026). How we calculate this

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