As of November 12, 2026, Panama is cheaper than Chile for travelers: a mid-range day costs about $101 in Panama against $102 in Chile, a gap of 0.1%. Over the past year Chile has moved more in the US-dollar traveler's favor (+4.8% after inflation, against +1.9%). Both sit at US advisory Level 2. Chile is the easier of the two to travel.
| Measure | Chile | Panama |
|---|---|---|
| Mid-range day | $102 | $101 |
| Lean day | $46 | $46 |
| Comfortable day | $234 | $223 |
| Real change, 12 months | +4.8% | +1.9% |
| Exchange rate alone, 12 months | +5.1% | 0.0% |
| Versus 5-year average | +7.6% | +8.9% |
| US advisory | Level 2 · Increased caution | Level 2 · Increased caution |
| Ease of travel | 4.4 · Well set up | 4.0 · Well set up |
| Index score | 64 | 62 |
| Best months | Nov, Dec, Jan, Feb, Mar | Jan, Feb, Mar, Apr |
| Shoulder months | Apr, Oct | May, Dec |
The better figure in each row is in bold. Costs are modeled estimates per person, excluding international flights.
The Atacama to Patagonia, with the best-run infrastructure on the continent.
The catchPatagonia is priced for international visitors in high season. The peso tracks copper and can move fast.
A skyline, a canal and two oceans, all in US dollars.
The catchDollarized, with capital-city prices close to US levels.
Source: Trip Arbitrage (triparbitrage.com), reading of November 12, 2026. How this is calculated.