In our opinion, Costa Rica is the clear winner over Panama to visit on most vacations. During a visit to Costa Rica last week, I found myself mentally comparing tourism in Costa Rica with that in Panama. The following table shows my observations and is in no way based on research; the information in the table is based on my personal experiences in these countries. Although Costa Rica and Panama have similar historical and natural attractions, their economies are comprised of different industries. Costa Rica's economy depends on the export of fruits such as bananas.
Panama depends on the economic and banking sectors. Both countries are trying to attract similar types of travelers. In my opinion, Costa Rica's beaches generally offer more activities and attractions, while beaches in Panama tend to have a more secluded environment (except those close to Panama City). When comparing the costs between Costa Rica and Panama, it's worth noting that Panama is generally considered to be a little more affordable.
On the other hand, Panamanian cities, especially Panama City, have higher crime rates, particularly in certain neighborhoods. In conclusion, both countries can adapt to different travel budgets, but Panama generally offers a more cost-effective experience compared to Costa Rica. When it comes to activities, Costa Rica is more inclined to thrilling adventures and wildlife viewing, while Panama shines with its rich cultural, historical and natural experiences. Panama is a little closer to the equator, which means that the country has a slightly more consistent climate throughout the year.
On the other hand, the Pacific side Caribbean beaches of Bocas del Toro and Santa Catalina in Panama have their own unique charm. Costa Rica experiences a more pronounced variation in climate over the seasons compared to the relatively stable conditions in Panama. I think it's definitely worth visiting Panama as a country, but if it's your first time going to Central America, I think Costa Rica is the best option. We calculated the prices of Costa Rica and Panama as a weighted average per population of 9 and 10 cities, respectively. Costa Rica is known for its impressive variety of landscapes, from the misty peaks of its cloud forests in Monteverde to the panoramic views of its active volcanoes, such as Arenal.
