Moving to Panama from Spain
What to Expect
Considering a move from Spain to Panama? Here's how the two compare on cost, climate, safety, and more.
If you moved from Spain to Panama, you would find that Panama is 9.2% cheaper than Spain overall. A €65,577 salary in Spain would need to be roughly PAB62,613 in Panama to maintain the same lifestyle. Expect a noticeable climate shift — Panama City averages 93°F vs 68°F in Madrid, making it significantly warmer.
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A breakdown of how everyday costs differ between Spain and Panama.
What does your salary buy?
€65,577 → PAB62,613
To maintain the same standard of living in Panama
Calculate with your salary →How key spending categories compare
Restaurants
pay 36.8% less
Groceries
pay 20.3% more
Transportation
pay 22.2% less
Housing
pay 0.2% more
Childcare
pay 4.5% less
Entertainment and Sports
pay 5.9% less
Data: MyLifeElsewhere's crowdsourced cost of living database, with prices submitted and updated by users worldwide. Exchange rates are refreshed regularly from public sources.
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Who Else Is Making This Move?
What the data shows about people moving from Spain to Panama.
Who's moving to Panama?
Top countries of origin for Panama's foreign-born residents.
- 119,553
- 50,702
- 22,427
- 16,867
- 15,517
- 9,711
- · · ·
-
11.4,447
Spain
Key Indicator Comparison
The numbers behind daily life in Panama compared to Spain.
Is it safe?
per 100,000 people per year
of residents who feel safe walking alone at night
per 100,000 people per year
Spain performs better than Panama across all safety metrics.
How's the healthcare?
annual government + private spending per person
affects wait times and access to care
WHO index from 0–100 measuring essential service access
share of adults with obesity
per 100,000 people — a proxy for mental health support
Panama generally does better on health & wellbeing, though Spain leads in doctors per 10,000 people.
What about the environment?
deaths attributable to air pollution per 100k people
tonnes of CO₂ emitted per person per year
Spain generally does better on environment, though Panama leads in co₂ emissions per capita.
Will I have good infrastructure?
fixed broadband subscriptions — key for remote work
higher means greater strain on freshwater supply
annual consumption — reflects grid capacity
share of households with internet
Spain generally does better on infrastructure, though Panama leads in water stress level.
What are the job prospects?
percentage of the labour force without work
a broad measure of economic output per person
the highest marginal rate on personal income
share of people below the poverty line
Spain generally does better on employment & economy, though Panama leads in unemployment rate.
Is it good for families?
average years of life at birth
deaths per 1,000 live births — lower is better
government spending on education as % of GDP
percentage of adults who can read and write
Spain performs better than Panama across all family life metrics.
Data: Agencia Tributaria, Spain, The World Factbook, United Nations SDG Indicators, World Bank
What's the Climate Like?
Monthly averages — select a city to compare.
Avg. annual high / low
Avg. annual high / low
| Months | Madrid | Panama City |
|---|---|---|
| Jan–Mar | 55°/40°F (13°/4°C) | 94°/65°F (34°/18°C) |
| Apr–Jun | 73°/53°F (23°/12°C) | 94°/69°F (35°/21°C) |
| Jul–Sep | 86°/64°F (30°/18°C) | 92°/70°F (34°/21°C) |
| Oct–Dec | 58°/44°F (14°/7°C) | 91°/68°F (33°/20°C) |
View all months
| Month | Madrid | Panama City |
|---|---|---|
| Jan | 50°/37°F (9.8°/2.7°C) | 92°/65°F (33.4°/18.5°C) |
| Feb | 54°/39°F (12.0°/3.7°C) | 94°/65°F (34.2°/18.4°C) |
| Mar | 61°/43°F (16.3°/6.2°C) | 95°/65°F (34.8°/18.4°C) |
| Apr | 65°/46°F (18.2°/7.7°C) | 96°/67°F (35.4°/19.5°C) |
| May | 72°/52°F (22.2°/11.3°C) | 94°/70°F (34.5°/21.1°C) |
| Jun | 83°/61°F (28.2°/16.1°C) | 93°/70°F (33.8°/21.3°C) |
| Jul | 90°/66°F (32.1°/19.0°C) | 93°/70°F (33.9°/21.0°C) |
| Aug | 88°/66°F (31.3°/18.8°C) | 93°/70°F (33.9°/20.9°C) |
| Sep | 80°/60°F (26.4°/15.4°C) | 91°/70°F (32.9°/21.0°C) |
| Oct | 67°/51°F (19.4°/10.7°C) | 91°/69°F (32.6°/20.8°C) |
| Nov | 56°/43°F (13.5°/6.2°C) | 91°/69°F (32.9°/20.3°C) |
| Dec | 50°/38°F (10.0°/3.6°C) | 92°/67°F (33.3°/19.2°C) |
Data:
Agencia Estatal de Meteorología,
IMHPA - Instituto de Meteorología e Hidrología de Panamá
Visitor Visa Requirements
Short-stay tourist visa rules between Spain and Panama. To live, work, or study long-term in Panama, you'll need a separate residence or work visa — check Panama's immigration authority.
Spain passport holder visiting Panama
Visa Free
Panama passport holder visiting Spain
Visa FreeData: Henley Passport Index. Check with the destination country's embassy for the most current requirements.
Frequently Asked Questions
Is it cheaper to live in Panama than Spain?
On average Panama is about 17% less expensive than Spain, with major cities narrowing the gap.
How much money do I need to move to Panama?
Budget about PAB15,653 for 3 months in Panama (based on a €65,577 comparable annual salary), then add the one-off costs: flights, shipping, a rental deposit, and visa fees.
Can I work remotely from Panama?
Connectivity is usually fine (Panama: 15.5 fixed broadband per 100). What actually decides it is legal: does Panama offer a digital nomad visa, will your employer permit overseas work, and where are you tax-resident?
Is Panama safe for expats?
Spain performs better than Panama across all safety metrics. The homicide rate in Panama is 11.3 per 100,000 people, compared to 0.7 in Spain. About 33% of people in Panama feel safe walking alone at night.
How is healthcare in Panama compared to Spain?
Panama generally does better on health & wellbeing, though Spain leads in doctors per 10,000 people. There are 17.3 doctors per 10,000 people in Panama, compared to 44.8 in Spain. Panama scores 78 on the WHO universal health coverage index (Spain: 85).
What's the weather like in Panama compared to Spain?
The average high temperature in Panama City is 93°F, compared to 68°F in Madrid. Panama City receives around 75.1 in of rainfall per year, while Madrid gets 16.6 in.
What language do they speak in Panama?
The official language in Panama is Spanish. In Spain, the official languages are Basque, Catalan, Galician and Spanish.
