Panama and Costa Rica are becoming increasingly expensive places to live, overtaking even Uruguay, which has historically had a high cost of living because of its relatively high quality of life and higher wages.
For an individual, the monthly cost of living now exceeds US$2,000 in both countries, according to the latest estimate by global payments firm Wise.
The Belgium-based company’s calculation covers everyday expenses such as housing, food, transport and services. The figures are averages and vary by city, consumption habits and local prices.
For people living and working in Costa Rica, however, the increase is more than a number on an index.