As of November 12, 2026, Panama is cheaper than Uruguay for travelers: a mid-range day costs about $101 in Panama against $124 in Uruguay, a gap of 22.5%. Over the past year Uruguay has moved more in the US-dollar traveler's favor (+2.2% after inflation, against +1.9%). Both sit at US advisory Level 2.
| Measure | Panama | Uruguay |
|---|---|---|
| Mid-range day | $101 | $124 |
| Lean day | $46 | $59 |
| Comfortable day | $223 | $270 |
| Real change, 12 months | +1.9% | +2.2% |
| Exchange rate alone, 12 months | 0.0% | +2.8% |
| Versus 5-year average | +8.9% | −5.1% |
| US advisory | Level 2 · Increased caution | Level 2 · Increased caution |
| Ease of travel | 4.0 · Well set up | 4.2 · Well set up |
| Index score | 62 | 54 |
| Best months | Jan, Feb, Mar, Apr | Nov, Dec, Jan, Feb, Mar |
| Shoulder months | May, Dec | Apr, Oct |
The better figure in each row is in bold. Costs are modeled estimates per person, excluding international flights.
A skyline, a canal and two oceans, all in US dollars.
The catchDollarized, with capital-city prices close to US levels.
The calm, costly corner of South America.
The catchConsistently the region's most expensive country, and January prices on the coast double.
Source: Trip Arbitrage (triparbitrage.com), reading of November 12, 2026. How this is calculated.