Which place is cheaper, Panama City or Mykonos?
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 Mykonos or Panama City?
Which is cheaper to visit? Which is more expensive for vacation?
Which city should you visit? Read on to compare the activities as well as the prices of travel for Mykonos and Panama City. We'll break down costs for accommodation, food, transportation and more to help you learn more about these two destinations. Then, you can figure out if either of these two places are accessible based on your travel budget, schedule, and interests. So, let's dig into it.
Where Should I go: Mykonos or Panama City?
Mykonos
Mykonos, a Greek Island in the middle of the Aegean Sea, is part of the Cyclades group. Mykonos is one of the most touristy islands in the Aegean Sea and is famous for its whitewashed buildings that climb up the hill along with historic windmills, stunning hillside views, and fantastic seafood restaurants. Because of its popularity, Mykonos comes with a hefty tourist markup. Many passengers arrive here as part of a cruise, so during the day its small streets can become crowded with tourists and its harbor fills with large ships. August and July are the most popular times to visit, so if you're hoping to avoid to crowds it's best to come a few months earlier.
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 Contiki Tours to Greece, The Best G Adventures Tours to Greece, The Best One-Week (7-Day) Tours from Panama City, and The Best 2-Week Tours from Panama City.
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Mykonos Prices
Greece PricesPanama City Prices
Panama Prices -
Average Daily Cost Per person, per dayMykonos €272Panama City €86
The average daily cost (per person) in Mykonos is €272, while the average daily cost in Panama City is €86. 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 Mykonos and Panama City in more detail.
Accommodation
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Accommodation Hotel or hostel for one personMykonos €74Panama City €30
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Accommodation Typical double-occupancy roomMykonos €148Panama City €60
Compare Hotels in Mykonos and Panama City
Looking for a hotel in Mykonos 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: Mykonos Hotel Prices and Panama City Hotel Prices.
Local Transportation
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Local Transportation Taxis, local buses, subway, etc.Mykonos €24Panama City €9.09
Typical Local Transportation Prices in Mykonos
Below are a few samples from actual travelers for transportation costs in Mykonos:
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Bus to Paradise Beach (for 2)€5.60
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Taxi to Kalafatis€13
Hired Cars and Shuttles in Mykonos
Some specific examples of transportation prices in Mykonos:
- From Helicopter Transfer to Athens or Greek Island: $2,955
- Private Catamaran Cruise w/ Food, Drinks & Transfer: $880
- Private Chauffeured Transfer in Mykonos: $239
- ❖ Private Island Tour with Transfers and Greek Meal: $235
- Mykonos Airport or Port from/to Point to Point Private Transfers: $233
- Private Transfer: From Scorpios to your hotel with mini bus: $223
- Transfer in Mykonos : $215
- Private Transfer: From Scorpios to your Villa with mini bus: $211
- Private Transfer: Mykonos Town to your Villa with mini bus: $211
- Mykonos Private Short Distance Transfer Up To 12 Persons: $207
- Private Transfer: Mykonos Windmills to your hotel-mini bus: $188
- Private Transfer: Mykonos Windmills to Airport with mini bus: $188
Hired Cars and Shuttles in Panama City
Also for Panama City, here are a few examples of actual transportation services:
- Private Departure Transfer to Panama City Airport (PTY): $13
- Transfer to Panama Canal (Miraflores Locks): $14
- Private transfer from airport to hotels in Panama City: $15
- Private Transfer from Panama City Airport (PTY): $16
- Private Transfer Airport PTY to/from Panama City: $17
- Private One-way Airport Transfer from Panamá to Tocumen Airport : $19
- Transfers from PTY Airport to Playa Bonita or Gamboa and Back: $20
- Private transfer Panama City - Fort Amador Cruise Terminal: $20
- Transfer Airport - City / Min 2 pax: $20
- Panama: Private Transfer from Tocumen Airport: $23
- Transfer from Panama City Hotel to Tocumen Airport: $23
- Private Transfer from Tocumen Airport to Downtown Panama City, Panama: $23
Is it cheaper to fly into Mykonos or Panama City?
Prices for flights to both Panama City and Mykonos 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 dayMykonos €83Panama City €31
Typical Food Prices in Mykonos
Some typical examples of dining costs in Mykonos are as follows:
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Two Ice cream Cones€4.50
Food Tours and Cooking Classes in Mykonos
Also, here are some specific examples of food and dining related activities in Mykonos.
- Food Tour: Aperitivo In Mykonos Town: $76
- Traditional Lunch or Dinner at the Mykonian Spiti: $76
- Sunset Boat Cruise with Light Dinner & Drinks: $101
- Sunset Sail Cruise to Rhenia, Beach Hopping, Dinner: $111
- Food Tour of Mykonos - Flavors and local tastes: $114
- Group Cooking Class at the Home of a Local Family: $117
- Food Tour in Mykonos - Famous Tastings : $118
- Private Cooking Class at the Home of a Mykonian Family : $119
- Greek Cooking Class with Meal and Wine: $141
- Hands-On Cooking Class with a Professional Chef: $141
- Mykonos Cooking Class Experience for Cruise Travelers: $141
- Small Group Mykonian Cooking Class Experience: $143
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€7.03
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.Mykonos €23Panama City €56
Tours and Activities in Mykonos
Some specific costs of activities, tours, and entrance tickets for Mykonos are as follows:
- All Inclusive Tour to Delos and Rhenia Islands with S/Y Olga M: $149
- Μykonos Private 360 Photo and Video Tour Perfect for Social Media: $90
- 2 Hours Private Mykonos Island Tour: $119
- 2 Hours private tour of Mykonos Island : $114
- 2 Hours walking tour in Mykonos Town: $141
- 3 Hour Mykonos Tour: $179
- 3 Hours Private Sunset Tour in Greece with Free Drinks & Snacks: $287
- 3-Hours Private Mykonos Explorer Tour : $173
- 4 Hour Mykonos Tour Explorer : $179
- 5 Hour Mykonos Beach-Club-Crawl Experience: $103
- 6 Hours Mykonos Private Island Tour With Full Authentic Lunch: $269
- 6 Hours Tour to Delos and Rhenia Islands with Sailing Yacht: $149
Tours and Activities in Panama City
Also, here are some specific examples of entertainment, tickets, and activities for Panama City.
- The Hull Experience Colonial Tour: $14
- Archaeological Site. Admission ticket to Panama La Vieja: $15
- Experience of Salsa in Panama: $25
- Panama Casco Viejo: Walking Tour Must See Treasures!!!: $25
- Panama: Highlights Bike Tour in Casco Viejo & Cinta Costera: $26
- Panama : Must-See Sites Walking Tour With A Guide: $27
- Get to know the city aboard CitySightseeing Panama: $29
- Panama City Tour and Panama Canal – Miraflores Locks Experience: $30
- Causeway and Old Town Night Tour: $30
- City Sightseeing Hop-On Hop-Off Bus Tour: $30
- Sunset Walking Tour at Casco Viejo El Chorrillo and the fish market: $30
- City Sightseeing Panama City Hop-On Hop-Off Bus Tour: $30
Alcohol
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Alcohol Drinks for one dayMykonos €20Panama City €15
Sample the Local Flavors in Mykonos
Also in Mykonos, these are the prices for nightlife and alcohol related activities from various tour providers:
- Mykonos Town & Brewery:2-Hour Walking Tour with Beer Tasting: $76
- Mykonos Bar Crawl with a Local: $76
- Mykonos Town & Visit a local Brewery : Walking Tour with Tasting: $78
- Winery Vineyard Experience with Food & Wine Tasting: $80
- Tour and Wine Tasting in Mykonian Land : $81
- Wine Tasting at a Mykonian Farm: $88
- Wine Tasting Tour at a traditional farm in Mykonos: $90
- Half-Day Wine Tasting and Snack at a Local House: $164
- Mykonos Highlights Private Tour with Optional Wine Tasting: $186
When we compare the travel costs of actual travelers between Mykonos and Panama City, we can see that Mykonos is more expensive. And not only is Panama City much less expensive, but it is actually a significantly cheaper destination. Since Mykonos 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 Mykonos would naturally cost you much more money, so you would probably want to keep your budget a little tighter in Mykonos 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 Mykonos Expensive? and Is Panama City Expensive?.
Which is Bigger, Mykonos or Panama City?
Mykonos has a larger population, and is about 45% larger than the population of Panama City. When comparing the sizes of Mykonos 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.