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Sunday, Mar 07, 2021
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Panama is the second most expensive city in Central America

Panama is the second most expensive city in Central America

Panama City continues to be a destination for multinational companies to install their operations and in turn can bring their executives to live comfortably.
However, it ranks as the second most expensive city in Central America according to Mercer's 2020 cost of living survey, whose ranking spans 209 cities and measures the comparative cost of more than 200 items including housing, transportation, food, clothing, items. for home and entertainment.

“Panama continues to be a very attractive city for multinationals seeking to open new jobs for foreigners in the country as a consequence of laws that promote foreign investment. However, compared to other cities in the region, Panama is not one of the cheapest and this creates a challenge for companies to attract and retain executive talent.” says Bruno Balanza, Mercer's manager in Panama.

According to the ranking in Central and South America, San Juan (66) is the most expensive city, followed by Port of Spain (73), San José (78) and Montevideo (88) and Panama (90).

Hong Kong tops the list of the most expensive cities in the world for expats, followed by Ashgabat, Turkmenistan. Tokyo and Zurich remain in third and fourth place, while Singapore is in fifth place and New York in sixth place.
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