Cost of living comparison

Mongolia

compared to

Panama

Panama City vs. Ulaanbaatar Cost of Living Summary

Panama City is 56.8% more expensive than Ulaanbaatar.

Restaurants: pay 89.2% more in Panama City
Groceries: pay 59.9% more in Panama City
Transportation: pay 14.5% more in Panama City
Housing: pay 2.1 times more in Panama City
Childcare: pay 12.0% less in Panama City
Entertainment and Sports: pay 46.8% more in Panama City
Clothing: pay 16.9% less in Panama City

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

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Panama City vs. Ulaanbaatar Cost Breakdown

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

Display currency: USD

pay 89.2% more for restaurants

	Ulaanbaatar	Panama City
Basic meal with drink at inexpensive restaurant	$5.56 MNT20,000.00	$11.50 PAB11.50	+106.9%
Fast food combo meal McDonalds, or similar	$5.56 MNT20,000.00	$8.00 PAB8.00	+44.0%
Bottle of Coca-Cola (11 fl. oz)	$0.86 MNT3,083.33	$1.97 PAB1.97	+130.1%
Bottle of water (11 fl. oz)	$0.59 MNT2,125.00	$1.60 PAB1.60	+171.0%
Average			+89.2%

Ulaanbaatar vs. Panama City - Cost of restaurants

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pay 59.9% more for groceries

	Ulaanbaatar	Panama City
Bread 1 loaf	$1.00 MNT3,588.33	$2.52 PAB2.52	+152.4%
Local cheese (8 oz)	$6.18 MNT22,248.75	$6.18 PAB6.18
Milk (1 gallon)	$5.49 MNT19,758.34	$7.09 PAB7.09	+29.1%
Eggs 1 dozen	$2.10 MNT7,573.96	$2.75 PAB2.75	+30.5%
Boneless chicken breast (1 lb)	$2.22 MNT7,975.68	$3.07 PAB3.07	+38.4%
Apples (1 lb)	$1.39 MNT5,003.76	$1.87 PAB1.87	+34.5%
Bananas (1 lb)	$1.09 MNT3,926.41	$0.82 PAB0.82	-24.5%
Oranges (1 lb)	$1.69 MNT6,091.75	$1.92 PAB1.92	+13.4%
Tomatoes (1 lb)	$1.37 MNT4,944.16	$1.86 PAB1.86	+35.1%
Potatoes (1 lb)	$0.33 MNT1,188.41	$1.55 PAB1.55	+368.3%
Onions (1 lb)	$0.48 MNT1,730.24	$1.96 PAB1.96	+307.2%
Average			+59.9%

Ulaanbaatar vs. Panama City - Cost of groceries

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pay 14.5% more for transportation

	Ulaanbaatar	Panama City
Gasoline (1 gallon)	$4.32 MNT15,549.41	$4.62 PAB4.62	+6.9%
Monthly public transit pass	$16.67 MNT60,000.00	$21.00 PAB21.00	+26.0%
New Volkswagen Golf 1.4 (standard edition)	$26,896.36 MNT97M	$21,262.00 PAB21,262.00	-20.9%
Taxi trip in downtown area (5 miles)	$4.86 MNT17,500.00	$16.98 PAB16.98	+249.2%
Average			+14.5%

Ulaanbaatar vs. Panama City - Cost of transportation

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pay 2.1 times more for housing

	Ulaanbaatar	Panama City
Internet connection 50 mbps or faster, cable/dsl	$13.63 MNT49,062.50	$48.70 PAB48.70	+257.3%
1-Bedroom apartment in downtown area	$569.30 MNT2M	$1,262.50 PAB1,262.50	+121.8%
1-Bedroom apartment outside city center	$444.50 MNT2M	$874.18 PAB874.18	+96.7%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$54.38 MNT196K	$100.29 PAB100.29	+84.4%
Average			+110.6%

Ulaanbaatar vs. Panama City - Cost of housing

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pay 12.0% less for childcare

	Ulaanbaatar	Panama City
Private preschool for 1 child, monthly	$817.79 MNT3M	$543.33 PAB543.33	-33.6%
Middle school for 1 child, two semesters	$8,262.71 MNT30M	$9,641.50 PAB9,641.50	+16.7%
Average			-12.0%

Ulaanbaatar vs. Panama City - Cost of childcare

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pay 46.8% more for entertainment and sports

	Ulaanbaatar	Panama City
Domestic/local beer (1 pint)	$2.36 MNT8,500.00	$3.30 PAB3.30	+39.7%
Cappuccino in mid-range area	$2.42 MNT8,692.31	$4.11 PAB4.11	+70.1%
Pack of cigarettes Marlboro or similar	$1.68 MNT6,044.89	$6.00 PAB6.00	+257.2%
Monthly membership at local gym	$67.73 MNT244K	$46.40 PAB46.40	-31.5%
Movie ticket to theater/cinema	$4.17 MNT15,000.00	$8.50 PAB8.50	+103.9%
Average			+46.8%

Ulaanbaatar vs. Panama City - Cost of entertainment and sports

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pay 16.9% less for clothing

	Ulaanbaatar	Panama City
Regular jeans Levi's brand	$81.73 MNT294K	$66.67 PAB66.67	-18.4%
Regular dress from H&M or similar store	$45.38 MNT163K	$48.43 PAB48.43	+6.7%
Running shoes Nike or Adidas	$102.93 MNT370K	$94.62 PAB94.62	-8.1%
Men's business shoes (leather)	$187.55 MNT675K	$111.67 PAB111.67	-40.5%
Average			-16.9%

Ulaanbaatar 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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