As of November 12, 2026, Mexico is cheaper than Panama for travelers: a mid-range day costs about $99 in Mexico against $101 in Panama, a gap of 2.4%. Over the past year Panama has moved more in the US-dollar traveler's favor (+1.9% after inflation, against +1.4%). Both sit at US advisory Level 2. Mexico is the easier of the two to travel.
| Measure | Mexico | Panama |
|---|---|---|
| Mid-range day | $99 | $101 |
| Lean day | $44 | $46 |
| Comfortable day | $231 | $223 |
| Real change, 12 months | +1.4% | +1.9% |
| Exchange rate alone, 12 months | +1.7% | 0.0% |
| Versus 5-year average | −6.3% | +8.9% |
| US advisory | Level 2 · Increased caution | Level 2 · Increased caution |
| Ease of travel | 4.5 · Effortless | 4.0 · Well set up |
| Index score | 59 | 62 |
| Best months | Nov, Dec, Jan, Feb, Mar, Apr | Jan, Feb, Mar, Apr |
| Shoulder months | May, Oct | May, Dec |
The better figure in each row is in bold. Costs are modeled estimates per person, excluding international flights.
A continent's worth of food and landscapes, with a peso that swings hard in both directions.
The catchRisk is intensely regional: several states carry Do Not Travel advisories while the main visitor areas sit at Level 2. Tulum and Los Cabos price in dollars.
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.