Madrid vs Panama City: cost of living for digital nomads
Madrid, Spain and Panama City, Panama, line by line from the catalogue: what a month costs, rent, food, coworking, safety and internet. Every figure links back to its source on the city page.
The short version
- Panama City is about 25% cheaper than Madrid for a month of nomad living ($1,800 vs $2,400).
- Rent is the biggest gap: $850 in Panama City against $1,250 in Madrid.
- Madrid scores higher on safety (9/10 vs 7/10).
- Internet is faster in Madrid: 300 Mbps typical against 100 Mbps.
- Madrid is mediterranean; Panama City is tropical.
Madrid wins 3 of the measured lines; Panama City wins 5.
Frequently asked questions
Which city is cheaper, Madrid or Panama City?
Panama City is cheaper: about $1,800/month against $2,400/month in Madrid, roughly 25% less for a typical remote worker's budget.
Which city is safer, Madrid or Panama City?
Madrid scores higher on safety: 9/10 against 7/10 for Panama City.
Which has faster internet, Madrid or Panama City?
Madrid has faster typical internet: 300 Mbps against 100 Mbps in Panama City.
| Line | Madrid | Panama City |
|---|---|---|
| Monthly total (USD) | $2,400 | $1,800 |
| Rent | $1,250 | $850 |
| Food | $520 | $460 |
| Transport | $55 | $50 |
| Coworking | $150 | $140 |
| Safety (out of 10) | 9/10 | 7/10 |
| Internet (Mbps) | 300 | 100 |
| Climate | mediterranean | tropical |
| City size | metro | metro |
| Setting | inland | coast |
| Nomad score (out of 10) | 9/10 | 8/10 |
Compare Panama City with
Costs are typical monthly figures for one person in USD, from the sources named on each city page; safety and internet are the catalogue's own ratings. Cost figures verified (Eastern Time): Madrid November 1, 2026, Panama City November 1, 2026.