Which place is cheaper, Panama City or Hofn?
These are the overall average travel costs for the two destinations. These travel costs come from the actual spending of real travelers.
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Should you visit Hofn or Panama City?
Which is cheaper to visit? Which is more expensive for vacation?
If you're trying to decide where to visit between Hofn or Panama City, this travel comparison, which includes costs, can help. The overall cost of travel is usually a consideration when deciding where to go next, and the cost comparison down below can help you decide based on the average prices from other travelers along with your own travel budget.
Where Should I go: Hofn or Panama City?
Hofn
Hofn is a very small fishing town on the southeast of Iceland, measuring just over half a mile across. It is best known for being located in the beautiful Vatnajokull Region, where the largest glacier in Europe is located. Hofn, and the surrounding area, is full of breathtaking natural scenery including lagoons, icefalls, and mountains.
Panama City
Panama City is the cosmopolitan capital city of the country of Panama. With a population of almost 900,000 and almost 1.5 million in the metropolitan area, it's a very diverse city with expat residents from all over the world. You don't have to search far to find someone who speaks English, and many Panamanians are quite helpful and friendly.
For some great organized tour ideas, see The Best Northern Lights Tours in Iceland, The Best Luxury Tours to Iceland, The Best One-Week (7-Day) Tours from Panama City, and The Best 2-Week Tours from Panama City.
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Hofn Prices
Iceland PricesPanama City Prices
Panama Prices -
Average Daily Cost Per person, per dayHofn $207Panama City $101
The average daily cost (per person) in Hofn is $207, while the average daily cost in Panama City is $101. These costs include accommodation (assuming double occupancy, so the traveler is sharing the room), food, transportation, and entertainment. While every person is different, these costs are an average of past travelers in each destination. What follows is a categorical breakdown of travel costs for Hofn and Panama City in more detail.
Accommodation
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Accommodation Hotel or hostel for one personHofn $113Panama City $35
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Accommodation Typical double-occupancy roomHofn $226Panama City $70
Compare Hotels in Hofn and Panama City
Looking for a hotel in Hofn or Panama City? Prices vary by location, date, season, and the level of luxury. See below for options and compare which is best for your budget and travel style.
Kayak helps you find the best prices for hotels, flights, and rental cars for destinations around the world. Compare prices for multiple destinations when planning your next trip.
Our Analysis
We've analyzed the average and typical hotel prices based on guest reviews, star ratings, and hotel amenities here: Hofn Hotel Prices and Panama City Hotel Prices.
Local Transportation
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Local Transportation Taxis, local buses, subway, etc.Hofn $31Panama City $11
Hired Cars and Shuttles in Panama City
Also for Panama City, here are a few examples of actual transportation services:
- Transfer to BIKINI BEACH (for ages 18+) or Santa Clara: $300
- Transfer to Panama City, Hotel and City tour - 1 night: $266
- Panama Airport (PTY) to Decameron - Round-Trip Private Transfer: $213
- Panama Airport (PTY) to Coronado/Gorgona - Round-Trip Transfer: $213
- Private Transfer from Panama City Hotels to Colón Cruise Port: $158
- Miraflores Visitor Center Ticket & Transfer: $155
- Arrival Transfer Panama Tocumen Airport PTY to Panama by Sprinter: $152
- Private Transfer from Panama Airport (PTY) to Colón Resorts: $149
- Roundtrip Private Transfer Panama Airport (PTY) - Playa Blanca : $142
- Private Transfer Hotel or Airport to Resorts in Playa Blanca. One way: $125
- Private Transfer Tocumen Airport - Linton Bay Marina: $90
- Luxury SUV Private Transfer Panama City to Panama PTY Airport: $84
Is it cheaper to fly into Hofn or Panama City?
Prices for flights to both Panama City and Hofn change regularly based on dates and travel demand. We suggest you find the best prices for your next trip on Kayak, because you can compare the cost of flights across multiple airlines for your prefered dates.
Food
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Food Meals for one dayHofn $73Panama City $36
Typical Food Prices in Panama City
Here are some examples of typical meal expenses from previous travelers to Panama City:
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Sandwich$8.24
Food Tours and Cooking Classes in Panama City
For Panama City, here are some samples of tours and activities related to meals and dining experiences:
- Panama Evening Food Tour: $60
- Street Food Tour in Panama City with 24 samples and secret drinks: $69
- Afro-Panamanian Cooking Class with Meal: $75
- Street Food Tour with 24 Tastings: $75
- Cooking Class in Panama City with 10 Recipes & Bottomless Drinks: $95
- 4-Hour Guided Panamanian Cooking Class and Markets Experience: $95
- Panama: 10-Recipe Boozy Panamanian Cooking Class + Dinner: $95
- Folkloric Dance & Typical Dinner at Sabroso Panamá: $110
- Embera Village Cooking Class Experience in Chagres National Park: $125
- The Real Panamanian Private Food Tour through Panama City: $205
- Street Food Tour in Panama with a Local Guide: $263
Entertainment
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Entertainment Entrance tickets, shows, etc.Hofn $20Panama City $66
Tours and Activities in Hofn
Also, here are some specific examples of entertainment, tickets, and activities for Hofn.
- 3 Hours Blue Ice Experience in Vatnajokull : $214
- Crystal Ice Cave Adventure : $203
- Crystal Ice Cave Tour from Jokulsarlon Glacier Lagoon: $182
- Frozen Wonders : Small Group Ice Cave Tour: $200
- Ice Cave Tour in the National Park of Vatnajökull: $157
- Sapphire Ice Cave Tour from Jökulsárlón - Extra Small Group: $170
- Sindri’s Ice Cave Photography Tour: A Local’s Perspective: $215
- The Orignal Ice Cave Tour in Jökulsárlón Glacier Lagoon: $164
Tours and Activities in Panama City
Also, here are some specific examples of entertainment, tickets, and activities for Panama City.
- Canopy-ziplining Adventures in Anton Valley: $195
- Gatun Lake Panamá Wildlife Adventure Guided Experience: $159
- Panama City Tour and Panama Canal – Miraflores Locks Experience: $30
- Private tour of Panama City and the Panama Canal.: $70
- San Blas Islands, 4-Island Tour All-Inclusive Welcome Cocktail: $149
- Tour of the Historic Center of Panama and the Canal: $52
- “Bike Tour Casco Viejo and Panama City Discover the Essence: $40
- “Panama at Your Rhythm: Private Tour with Canal, Old Town and More”: $67
- 1st Mysteries and FreeMasons Tour: $38
- 2 Days 1 Night San Blas Adventure in Pamana: $260
- 2 Hours Private Luxury Tour in a Convertible Car in Panama City: $255
- 2 Hours Tour to Panama La Vieja for Groups: $170
Alcohol
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Alcohol Drinks for one dayHofn $13Panama City $18
When we compare the travel costs of actual travelers between Hofn and Panama City, we can see that Hofn is more expensive. And not only is Panama City much less expensive, but it is actually a significantly cheaper destination. Since Hofn is in Europe and Panama City is in Central America, this is one of the main reasons why the costs are so different, as different regions of the world tend to have overall different travel costs. So, traveling to Panama City would let you spend less money overall. Or, you could decide to spend more money in Panama City and be able to afford a more luxurious travel style by staying in nicer hotels, eating at more expensive restaurants, taking tours, and experiencing more activities. The same level of travel in Hofn would naturally cost you much more money, so you would probably want to keep your budget a little tighter in Hofn than you might in Panama City.
If you're trying to decide if either of these two destinations are within your price range, also see Is Hofn Expensive? and Is Panama City Expensive?.
Which is Bigger, Hofn or Panama City?
Panama City has a larger population, and is about 240 times larger than the population of Hofn. When comparing the sizes of Hofn and Panama City, keep in mind that a larger population does not always imply the destination has more attractions or better activities. So, always research the type of place that you want to visit along with the activities and attractions that interest you.
Budget Your Trip is all about finding out how much everything costs so that you can travel cheaper and longer. Created by avid travelers Laurie and Bryan, our goal is to help you plan your next trip on the right budget. With average daily travel costs that are calculated from the budgets of real travelers, plus an analysis of hotel and tour prices, you can find out how much money you need to plan your next adventure. We also have plenty of travel advice, accommodation reviews, and activity suggestions.