Panama is not one of the world’s cheapest places to travel . It’s right in the middle in terms of tourism costs in Central America, cheaper than Costa Rica, but far more than Guatemala or Nicaragua. With its economy booming more each year, it’s a better spot for mid-range travelers than backpackers.
As I pointed out in this travel prices in Panama post the first time I visited, however, there are certainly some bargains around, especially after you get outside of the capital city. (The capital is the “hub of the Americas” for commerce, air shipments, and sea shipments, plus this is the favored place in the hemisphere to open an offshore bank account. ‘Nuff said.) Amazingly, the prices in that post are still pretty much spot-on, probably because they use the dollar as their currency.
If you want to take advantage of one of Panama’s best bargains, plan to do your drunken debauchery here. Beer is priced pretty well, at 55 cents or less in a store still for the main three brands picture here, a buck or two in a non-fancy bar. Where you really score though is going up a notch. It’s been a long time since my jaw dropped when shopping for wine or liquor, but drop it did a couple hours after my arrival this time.
$4.46 for a good bottle of wine
You see, last year I did a wine tour in Chile and had insider access to some of the best vineyards in the country. Here I found bottles from three of those vineyards for…wait for it…less than $5 a bottle. I was tempted to fill up a whole shopping cart until I realized I was staying in a hotel. Alone. For just a few days.
Just for kicks I wandered by the liquor aisle and contemplated becoming a permanent drunk. Here a week’s earnings would fill my liquor cabinet for a year. I counted six different rum brands going for under $7 for a 750ml bottle. The good 7-year stuff was still mostly less than $15 a bottle and rum that has taken a full 12 years of storage before hitting the market, from $20 to $25. Due to Panama’s free trade zone status, even the international vodka and Scotch brands were literally half what I would pay in the U.S.
So you may pay a bit more for lodging and the adventure tours are not as cheap as they are in Nicaragua, but if you’re ready to let loose and party for a while, Panama is waiting. Don’t worry, when you need to be poured into a cab to make it back to your bed, prices are set by zone: figure $4 to $8 for most of Panama City.
Oh, and did I mention they have casinos here? Lots of them? With $2 or $3 blackjack tables and free-flowing cocktails?
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