Cost of living comparison

Latvia

compared to

Panama

Panama City vs. Riga Cost of Living Summary

Panama City is 18.5% more expensive than Riga.

Restaurants: pay 15.6% less in Panama City
Groceries: pay 57.3% more in Panama City
Transportation: pay 28.4% less in Panama City
Housing: pay 68.8% more in Panama City
Childcare: pay 32.2% less in Panama City
Entertainment and Sports: pay 16.0% less in Panama City
Clothing: pay 4.8% less in Panama City

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

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Panama City vs. Riga Cost Breakdown

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

Display currency: USD

pay 15.6% less for restaurants

	Riga	Panama City
Basic meal with drink at inexpensive restaurant	$16.80 €15.07	$11.50 PAB11.50	-31.5%
Fast food combo meal McDonalds, or similar	$9.24 €8.29	$8.00 PAB8.00	-13.4%
Bottle of Coca-Cola (11 fl. oz)	$1.61 €1.45	$1.97 PAB1.97	+22.2%
Bottle of water (11 fl. oz)	$1.18 €1.06	$1.60 PAB1.60	+35.8%
Average			-15.6%

Riga vs. Panama City - Cost of restaurants

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pay 57.3% more for groceries

	Riga	Panama City
Bread 1 loaf	$1.43 €1.28	$2.52 PAB2.52	+76.1%
Local cheese (8 oz)	$5.22 €4.68	$6.18 PAB6.18	+18.4%
Milk (1 gallon)	$4.41 €3.95	$7.09 PAB7.09	+60.8%
Eggs 1 dozen	$3.76 €3.37	$2.75 PAB2.75	-26.9%
Boneless chicken breast (1 lb)	$3.91 €3.51	$3.07 PAB3.07	-21.5%
Apples (1 lb)	$1.00 €0.89	$1.87 PAB1.87	+87.8%
Bananas (1 lb)	$0.83 €0.74	$0.82 PAB0.82	-0.2%
Oranges (1 lb)	$1.13 €1.01	$1.92 PAB1.92	+70.0%
Tomatoes (1 lb)	$1.40 €1.25	$1.86 PAB1.86	+33.0%
Potatoes (1 lb)	$0.40 €0.36	$1.55 PAB1.55	+285.4%
Onions (1 lb)	$0.42 €0.38	$1.96 PAB1.96	+365.6%
Average			+57.3%

Riga vs. Panama City - Cost of groceries

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pay 28.4% less for transportation

	Riga	Panama City
Gasoline (1 gallon)	$7.75 €6.96	$4.62 PAB4.62	-40.4%
Monthly public transit pass	$33.59 €30.14	$21.00 PAB21.00	-37.5%
New Volkswagen Golf 1.4 (standard edition)	$27,308.11 €24,499.47	$21,262.00 PAB21,262.00	-22.1%
Taxi trip in downtown area (5 miles)	$11.42 €10.25	$16.98 PAB16.98	+48.7%
Average			-28.4%

Riga vs. Panama City - Cost of transportation

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pay 68.8% more for housing

	Riga	Panama City
Internet connection 50 mbps or faster, cable/dsl	$20.41 €18.31	$48.70 PAB48.70	+138.6%
1-Bedroom apartment in downtown area	$582.45 €522.54	$1,262.50 PAB1,262.50	+116.8%
1-Bedroom apartment outside city center	$385.02 €345.42	$874.18 PAB874.18	+127.1%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$286.52 €257.06	$100.29 PAB100.29	-65.0%
Average			+68.8%

Riga vs. Panama City - Cost of housing

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pay 32.2% less for childcare

	Riga	Panama City
Private preschool for 1 child, monthly	$645.25 €578.88	$543.33 PAB543.33	-15.8%
Middle school for 1 child, two semesters	$17,635.84 €15,821.99	$9,641.50 PAB9,641.50	-45.3%
Average			-32.2%

Riga vs. Panama City - Cost of childcare

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pay 16.0% less for entertainment and sports

	Riga	Panama City
Domestic/local beer (1 pint)	$5.60 €5.02	$3.30 PAB3.30	-41.1%
Cappuccino in mid-range area	$3.72 €3.34	$4.11 PAB4.11	+10.4%
Pack of cigarettes Marlboro or similar	$6.72 €6.03	$6.00 PAB6.00	-10.7%
Monthly membership at local gym	$49.91 €44.77	$46.40 PAB46.40	-7.0%
Movie ticket to theater/cinema	$10.75 €9.64	$8.50 PAB8.50	-20.9%
Average			-16.0%

Riga vs. Panama City - Cost of entertainment and sports

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pay 4.8% less for clothing

	Riga	Panama City
Regular jeans Levi's brand	$69.42 €62.28	$66.67 PAB66.67	-4.0%
Regular dress from H&M or similar store	$50.39 €45.21	$48.43 PAB48.43	-3.9%
Running shoes Nike or Adidas	$85.85 €77.02	$94.62 PAB94.62	+10.2%
Men's business shoes (leather)	$138.10 €123.90	$111.67 PAB111.67	-19.1%
Average			-4.8%

Riga vs. Panama City - 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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