What budget to travel Panama? Money and currency

What budget for activities and outings Panama?

Except for some museums (Biomuseo, Museum and Visitor Centers of the Panama Canal), the fees are low, generally between 1 and 5 US$. Nationals and residents benefit from reduced rates compared to foreigners. There are also special rates for children, students and pensioners. The national parks are free of charge, except for the Coiba National Park.

In the capital, you can exercise in the public parks (Parque Omar, Parque Natural Metropolitano, Cerro Ancón for its climbing...), but above all on the coastal promenade of the Causeway and the Cinta Costera: joggers and cyclists rush there from 5 am and in the evening when the heat falls. You can even play soccer or basketball on the prepared fields.

For hiking in the rainforest or in the Cordillera, maps are rare. Applications such as Wikiloc can give you suggested routes, but it is recommended to use the services of an official guide. It is indeed easy to get lost, we are far from the French GR markings. Moreover, the guide will be able to give you a lot of information about the fauna, the flora and the local culture.

You can get some good deals in Panama, in terms of clothing or electronics for example, but don't expect exceptional prices, even in the Zona Libre de Colón, known for its tax-free products of all brands! Indeed, in the ZLC, many stores sell only wholesale and the prices are hardly more interesting than in the stores of Panamá Ciudad. Another disadvantage is that you can't go out directly with your purchases: they have to be sent to the airport of Tocumen, where you will have to get them back before leaving the country..

Payment by credit card is widespread in the stores of the capital, but more rarely in the artisanal markets and in the small villages, so bring cash, in small denominations.

If you stay reasonable and out of the most chic places, you can spend a good evening for the equivalent of 20-50 US$, between the entrance fees in clubs and the drinks. A local beer in a bar costs around 3-4 US$, more in pubs offering craft beverages. A basic cocktail from 6 US$ in a cheap beach bar, 10-15 US$ in a bar in Casco Viejo.

What budget to eat Panama?

In fondas or comedores, popular restaurants, you can eat a full meal with a drink for less than US$5. In more upscale restaurants, à la carte dishes run from 15-25 US$. The dishes are always hearty, and you can easily do without dessert (which is generally not extraordinary).

Prices are reasonable in Panamanian cafes, even in very touristy places. Count between 0,50 and 3 US$ for a coffee, between 2 and 4 US$ for a natural fruit juice or a milkshake(batido), between 1,50 and 3,50 US$ for a cold beer on the terrace.

What is the budget for accommodation Panama?

Accommodation prices are reasonable in Panama. They vary considerably between high and low season (mid-April-early November). Rates often do not include the 10% tourist tax. If you're on a budget, you can opt for a dormitory bed in a hostel (average US$12-15) or private rooms with an outdoor bathroom. Youth hostels can be found all over the country. For greater comfort, a double room with private bathroom costs between US$60 and US$120. In the capital, luxury hotels for business travelers are plentiful. Occupancy rates are generally low, with the result that there are numerous promotions throughout the year. Away from the skyscrapers, the boutique hotels of Casco Viejo, or the ecolodges by the sea, are less accessible, but still much cheaper than in neighboring Costa Rica, for example. Expect to pay between US$80 and US$300 for two people, often with meals included for the more isolated. In conventional hotels, rates are given per room (single, double, triple, quadruple, etc.), with the exception of todo incluido (all-inclusive) establishments, which are mainly found near Playa Blanca, on the Pacific coast, just over an hour's drive from Panamá City. Inhostels, prices are quoted either per person, when you sleep in a dormitory, or per room, when it's private (private or shared bathroom). Establishments known as pensión, residencial or hospedaje are the most economical. Comfort, tranquility and service vary widely. It's always possible to find a room for less than US$25, especially in the provinces. Credit cards are accepted almost everywhere, but sometimes incur additional charges (around 5%).

Travel budget Panama and cost of living

Life in Panama remains relatively affordable for Europeans and North Americans, even if prices have risen considerably in recent years. The biggest items in the travel budget are hotels, restaurants, domestic flights and guided excursions.

If you eat locally and travel by bus, you can live on between US$30 and US$60 per person per day. With a little more comfort, US$60 to US$100. There's no limit to luxury... The euro/dollar exchange rate will significantly vary the cost of a stay for a European, as will the tourist season (hotel rates can double between the low and very high seasons). Permanent resident foreigners, aged 55 and over for women and 60 and over for men, enjoy the same benefits as Panamanian retirees: 25% discount in restaurants (excluding fast food); 25% discount on air travel, 30% discount on bus or boat travel; 50% discount in hotels from Monday to Thursday (30% from Friday to Sunday), etc.

Tip (propina). In restaurants, when service is not already included in the bill, it's customary to leave 10% of the bill as a tip. Some bills "suggest" several levels of tip, so it's up to you to leave what you think is fair. In hotels, as everywhere, it's a good idea to tip the people who help you pack your bags, or your guide if you're satisfied with his or her services.

Taxes. Please note that prices displayed in stores do not take into account the 7% tax (ITBMS, Impuesto de transferencia de bienes, muebles y servicios), applied to all purchases (except certain basic foodstuffs and medicines). Similarly, many hotels do not include the 10% tourist tax in their advertised rates. As for restaurants, many do not indicate the 7% tax or the 10% tip.

Haggling. This is not very common in Panama. If you speak a little Spanish, you can ask for a discount in low season at certain hotels or tourist markets, but avoid doing so with artisans who sell their products directly, unless you are buying a large quantity.