Where you live

Panama City

Panama

6.85of 10

⇄

Comparing with

Montevideo

Uruguay

7.03of 10

+ 3rd place

atlas.rikezas.com.br/en/comparar/cidade-do-panama-x-montevideuCopy link· Change weights

Result

Montevideo wins 3 of 5

The biggest gap is in currency strength.

FinancialMontevideo+0.35.8 × 6.2

SafetyMontevideo+0.86.2 × 7.0

CurrencyPanama City+1.09.0 × 8.0

Quality—+0.07.4 × 7.4

IntegrationMontevideo+0.86.4 × 7.2

Criterion by criterion

The 15 sub-criteria. The stronger bar belongs to the winner.

Panama CityMontevideo

Financial environmentweight 30%

10.0

Tax burden

9.0

1.0

Cost of living

3.0

5.0

Ease of doing business

7.0

8.0

Investment returns

6.0

Stability and safetyweight 25%

8.0

Entry and residence

6.0

Political and social stability

10.0

3.0

Personal and property safety

3.0

Currency strengthweight 20%

10.0

Currency stability

8.0

9.0

Strength against the dollar

9.0

7.0

Purchasing power

7.0

Quality of lifeweight 15%

7.0

Infrastructure and services

7.0

Culture and lifestyle

7.0

9.0

Environmental quality

9.0

Cultural integrationweight 10%

8.0

Language and communication

8.0

4.0

Communities and support networks

6.0

Your money in both places

1 person, including rent

Your monthly income US$ if you kept the same income (remote work or retirement)

Panama City

your income

US$ 1,960

Montevideo

US$ 1,515

RentGroceriesTransportHealthUtilitiesLeisure

In Panama City, shortUS$ 507a month

In Montevideo, shortUS$ 62a month

How much of your work each thing costs

In hours of work, with your income and 40 hours a week.

Panama CityMontevideo

Taxes

For an income of US$ 1,453 a month

Days of the year working for taxes

Panama City

65 days

Montevideo

94 days

JanFebMarAprMayJunJulAugSepOctNovDec

Montevideo takes more tax than Panama City. See next to it how much comes back as services.

What the State costs you

	Panama City	Montevideo
Income tax and social security	15%	17%
Tax on purchases	3%	9%
Paid twice (health insurance)	5%	7%
Total cost of the State	23%	32%

Paid twice: the health insurance you pay on top of taxes. Tax on purchases: the consumption tax rate applied to groceries, transport, utilities and leisure in the cost-of-living basket. Computed without deductions, with each place's official table and the Central Bank of Brazil exchange rate. In Rikezas it uses your real spending.

Sources: dgi.mef.gob.pa (pesquisa conferida) ↗ · infobae.com (pesquisa conferida) ↗ · blog.alegra.com (pesquisa conferida) ↗ · panamarelocationtours.com (pesquisa conferida) ↗ · calculatam.com (pesquisa conferida) ↗ · bps.gub.uy (pesquisa conferida) ↗ · impo.com.uy (pesquisa conferida) ↗ · asesp.com.uy (pesquisa conferida) ↗

Everyday life

What matters day to day

Language

Panama CitySpanish

MontevideoSpanish

Currency

Panama CityUSD

MontevideoUYU

Time zone

Panama CityUTC-5

MontevideoUTC-3

Population

Panama City1,086,990 (2023)

Montevideo1,302,721 (2023)

Compare with YOUR real life

Connect Rikezas: your real spending, your real taxes and the year you reach financial independence in each place.

Connect Rikezas