Budget Breakdown: Panama
We were initially trying to spend $75/day, but since we were down to our last week of our long 4 month journey... we developed an "Eh, whatever. Screw the budget" mentality. We should also note that we were in Panama for 9 days, but our last day we really, really ignored our budget and treated ourselves to multiple cups of coffee, treats, and a fancy rooftop dinner to celebrate our accomplishment. Therefore, that final day is NOT included in these numbers.
Our food average was a bit higher than Costa Rica, but mostly because food is expensive in Bocas del Toro. Otherwise, food costs are pretty similar between the two countries. We spent more on accommodations in Panama. Again, Bocas del Toro is to blame for the higher numbers in this category, and we splurged a bit to stay in that awesome treehouse AirBnB in Boquete... but it was worth it.
Similar to Costa Rica, Panama is pricier than other Central American countries, but it is definitely an affordable country to explore.