Cost of Living Index, Where does Panama City Panama Rank?

Panama, Panama City..

Overview

Country Full Name: Republic of Panama.

Location: Panama is in Central America, bordering both the Caribbean Sea and the North Pacific Ocean, between Colombia and Costa Rica.

Country Climate: Tropical maritime; hot, humid, cloudy; prolonged rainy season (May to January), short dry season (January to May).

Country Terrain: Interior mostly steep, rugged mountains and dissected, upland plains; coastal areas largely plains and rolling hills.

Major Languages: Spanish, English.

Major Religions: Christianity.

Country Population: 3.4 million (2008 est.) 3.5 million (2009 est.).

Country Economy: The Economy of Panama is free market economy with a history of low inflation. It is based mainly on the services industry, heavily weighted toward banking, commerce, and tourism.

Currency: Panamanian Balboa (PAB).

Country Inflation: 8.8% (2008 est.) 2.4% (2009 est.).

City: Panama City is the capital and largest city of the Republic of Panama.

City Economy: Panama City has more than 80 banks, more than 15 of them being national. The city also boasts several tourist attractions, and is a stopover for other nearby destinations in the country as well as a tourist destination in its own right.

Cost Of Living

Panama City has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups. Panama City is currently ranked 223rd of the most expensive places in the world for expatriates to live, out of 300 international locations. The cost of living rank for each of the 13 Basket Groups is as follows: The higher the number the cheaper it is.

Alcohol & Tobacco costs for alcoholic beverages such as alcohol at bar, beer, locally produced spirit, whiskey, and wine as well as tobacco products such as cigarettes is relatively less expensive compared to other cities with a rank of 266 out of 300.

Clothing costs for clothing and footwear products such as business suits, casual clothing, childrens clothing and footwear, coats and hats, evening wear, shoe repairs, and underwear is relatively less expensive compared to other cities with a rank of 186 out of 300.

Communication costs for various communication costs such as home telephone rental and call charges, internet connection and service provider fees, mobile / cellular phone contract and calls is relatively less expensive compared to other cities with a rank of 279 out of 300.

Education costs such as creche / pre-school fees, high school / college fees, primary school fees, and tertiary study fees is relatively less expensive compared to other cities with a rank of 297 out of 300.

Furniture & Appliance costs for furniture, household equipment and household appliances such as dvd player, fridge freezer, iron, kettle, toaster, microwave, light bulbs, television, vacuum cleaner, and washing machine is relatively less expensive compared to other cities with a rank of 285 out of 300.

Grocery costs for food, non-alcoholic beverages and cleaning material items such as baby consumables, baked goods, baking, canned foods, cheese, cleaning products, dairy, fresh fruits, fresh vegetables, fruit juices, meat, oil & vinegars, pet food, pre-prepared meals, sauces, seafood, snacks, soft drinks, spices & herbs is relatively less expensive compared to other cities with a rank of 245 out of 300.

Healthcare costs for general healthcare, medical and medical insurance such as general practitioner consultation rates, hospital private ward daily rate, non-prescription medicine, and private medical insurance / medical aid contributions is relatively less expensive compared to other cities with a rank of 243 out of 300.

Household costs for housing, water, electricity, household gas, household fuels, local rates and residential taxes such as house / flat mortgage, house / flat rental, household electricity consumption, household gas / fuel consumption, household water consumption, and local property rates / taxes / levies is relatively more expensive compared to other cities with a rank of 88 out of 300.

Miscellaneous costs related to stationery, linen and general goods and services such as domestic help, dry cleaning, linen, office supplies, newspapers and magazines, and postage stamps is relatively less expensive compared to other cities with a rank of 272 out of 300.

Personal Care costs for personal care products and services such as cosmetics, hair care, moisturizer / sun block, nappies, pain relief tablets, toilet paper, toothpaste, and soap / shampoo / conditioner is relatively less expensive compared to other cities with a rank of 290 out of 300.

Recreation and Culture costs such as books, camera film, cinema ticket, DVD and CDs, sports goods, and theatre tickets is equally expensive on average compared to other cities with a rank of 165 out of 300.

Restaurants, Meals Out and Hotel costs such as business dinner, dinner at a restaurant (non fast food), hotel rates, take away drinks and snacks (fast food) is equally expensive on average compared to other cities with a rank of 180 out of 300.

Transport costs for public transport, vehicle costs, vehicle fuel, vehicle insurance and vehicle maintenance such as hire purchase / lease of vehicle, petrol / diesel, public transport service maintenance, tires, vehicle Insurance, and vehicle purchase is relatively less expensive compared to other cities with a rank of 204 out of 300.