Panama City Luxury Travel for Less: Best Spots for Miami Vibes

Imagine Miami-style luxury with jaw-dropping waterfront views, rooftop pools, and swanky restaurants, but at half the price. That’s exactly what Panama City offers. Having lived in Miami, I loved the vibe but not the price tag. And that’s why I quickly fell in love with Panama City. You can experience the luxury while saving several thousand dollars on a vacation (with a good safety index too). You can also add adventure and explore the jungle on an easy day trip. Read on for our full week-long itinerary, budget breakdown, and insider tips for a bougie Panama City getaway without the Miami prices (plus the one thing that can’t really compare to Miami).

👀 At-a-Glance: Panama Bougie on a Budget

💰Total Cost Range: Luxe week for about $4,000 per couple. Budget-conscious travelers can trim to $2,500–$3,000 by flying economy, cooking some meals, skipping spa days and private tours. Going all-in, expect about $5,000 for a full luxury experience.

✈️ Flights: Round-trip business class, $700-$900 per person (Copa Airlines). Economy flights from the US can be found for under $300 if booked early or through a flight sale.

🏢 Airbnb High-Rise: 1BR luxury apartment with pool, gym, restaurants, and market for $1,000/week.

🛒 Groceries: $300/week for premium groceries and drinks from a high-end market in the building, much cheaper than eating out daily.

🌿 Spa Day: Couples massage, champagne, and private spa access at Hilton Panama for $275; poolside cabana at Airbnb included.

🍜 Dining Out: Rooftop drinks and dinners range from $30 to $150 per night; top-tier sushi night $265; pizza and ramen dinners for $28. Highlights: Sama Sky Lounge for cocktails, Fonda Lo Que Hay for fried chicken, Azahar for sushi.

🚗 Excursions: Museums $14/person; Uber rides around $5–$12 each; catamaran cruise $280/couple; jungle tour $175/couple; guided Casco Viejo walking tour $90/couple.

🏖️ Resort Add-On: 2 nights at all-inclusive Hyatt Dreams Playa Bonita for 40,000 Chase points (tips extra if eligible).

💺 Book Business Class Flights for Less

It’s not easy to score business class round-trip tickets for $700 per person. But that’s exactly what we found on Copa Airlines direct from DC to Panama City. When we visited a decade ago, we paid $215 each for direct economy fare on the same route – so you can definitely find great deals if you’re patient.

We use Google Flights to search the calendar, set up price alerts, and find the best deals. If you’re patient, you can even find amazing deals at popular travel times. We love Panama in February as a winter escape.

🏢 Where to Stay: Stunning Airbnb

We stayed in a one-bedroom apartment that checked all our boxes. The building was beautiful, the amenities were incredible, and the space itself was huge, stylish, and one of our favorite Airbnbs ever (and we’ve stayed in over 70 apartments around the world).

We made good use of the gym, restaurants, and pool, which were all right on site. And the best part was paying just $1,000 for a week. Strangely, there wasn’t a coffee maker in the unit, but I always pack instant coffee just in case ☕️

🛒 Where to Stock Up: High-End Market

There was a beautiful grocery store, called Foodie, right in our building, which made stocking up on essentials super convenient. It wasn’t cheap, but it was high quality and way more affordable that eating all meals out. We spent about $300 for the week on wine, rum (priorities 😆), eggs, fresh fruit, yogurt, ramen, salads, sandwiches, and plenty of snacks. The fruit was so fresh and delicious, and it was nice to have healthy, easy options on hand.

🧘‍♀️ Indulge in a Spa Day

If you’re craving a luxe, relaxing day, start with a poolside cabana and a good book at the Airbnb. A cabana would cost you $300+ extra in Miami, but it was included here. We chilled at the pool for a bit then walked over to the Hilton Panama next door for a couples massage. In South Florida, this would easily run $500+ (ahem, Diplomat Hotel). But here, we paid less than half for massages, private access to the spa facilities, a bottle of bubbly, and a fantastic fruit-and-cheese platter. Dinner was a $28 pizza and a few rounds of pool in our building lobby, so the total cost for the experience today was $275.

🍸 Find the Best Dinner and Rooftop Drinks

Panama City can be pricey by Central American standards, especially in the fancier spots, but it’s a bargain compared to Miami, NYC, LA, or DC.

Our Airbnb was a quick 10-minute, $5 Uber from Casco Viejo, the historic old town. We found some fantastic rooftop bars and restaurants with incredible views and amazing food.

Best food and drinks on our trip:

• 🍸 Espresso martinis and a gorgeous rooftop view at Sama Sky Lounge 
• 🍗 Fried chicken at Fonda Lo Que Hay
• 🍣 Sushi at Azahar

We mixed it up a bit to balance the budget: some nights we spent $30 on dinner, other nights we splurged up to $150. One highlight was a luxurious sushi dinner in our building for $265 — it included top-tier nigiri, sushi rolls, apps, wine, dessert, and port to finish. Totally worth it for one night after we balanced with the $28 pizza and some ramen dinners.

🦜 Book Private and Small Group Excursions

Uber is super affordable and easy in Panama City. For example, a round-trip ride to the Panama Canal Museum cost $12, and entry was $14 per person – so it worked out to $40 for an amazing afternoon for two.

We also took a ride out to the Gamboa Rainforest Resort. It was a peaceful place for lunch, but not a ton to do beyond that, and finding a ride back was tricky. If you make the excursion, ask your Uber driver to wait for you or pre-arrange a ride back. There are also some great parks and hiking spots nearby, so do some research.

We didn’t get to do every tour we wanted, but these are on our list for next time:

• 🌴 Catamaran Cruise – $280 per couple (includes transport + tip). Book it here
• 🐒 Private Jungle Excursion – $175 per couple. Book it here
• 🏛️ Casco Viejo Walking Tour – $90 per couple (15-person group). Book it here

You don’t need to do all three but budgeting $200 to $500 for tours and Ubers will be plenty. If you want to do it all, $700 to $800 gives you plenty of wiggle room.

🏖️ End with Two Bonus Nights Dreams Playa Bonita

We ended our trip with two bonus nights at the Hyatt Dreams Playa Bonita, which we booked with 40,000 Chase points. While it’s not a white sand beach or a fancy place, the resort exceeded our expectations. The food and service were great, and everything was included but tips. We highly recommend tacking this on if you have the points and time.

💰 TL;DR: How Much Does It All Cost?

You can easily build your Panama trip around your budget and still have a luxe experience.

• Bougie on a budget: Plan for $4,000 per couple if you find a great deal on b-class flights and want to do the spa, gorgeous Airbnb, some fancy dinners, and a few excursions. This is how much we wound up spending by mixing it up with some cheaper options.
• On a tighter budget: Fly economy, skip the spa, and focus on self-guided excursions. You can do this for $2,500–$3,000 and still stay at the same stunning Airbnb.
• Want to go all out? Even with business class flights, rooftop martinis, dinner out every night, private tours, and a full spa day, you can still come in at $5,000 for a couple.
• What Part Can’t Compare to Miami? You’re not going to get the well-manicured, white-sand beaches you’ll find in many parts of Miami. If you want a Caribbean experience, consider traveling down to Bocas del Toro area and finding an exclusive resort. Of course, that will cost you more.

Ready to plan your own bougie-on-a-budget Panama trip? What’s on your must-do list?

Want to Explore More Central American Beaches? Check Out Our Roatan Travel Guides

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• Practical Tips for First-Time Visitors