One of the reasons we have seen a fall off in traffic here in Panama is the cost of living in Panama City, not that I would live there anyway but it is now more expensive than Frankfurt, Vienna and Dubai according to Latinvex.

Panamanian capital Panama City has become the most expensive city in Latin America, according to the latest cost of living survey from Swiss bank UBS.

Panama City now ranks 25^th among 77 cities worldwide.  That means it is more expensive than cities like Frankfurt, Vienna, Dubai and Rome. The development comes as Panama now ranks as the richest country in Latin America, according to a new Latinvex analysis.

Argentine capital Buenos Aires, meanwhile, has become less expensive and ranks second in Latin America and 49^th worldwide.

“Buenos Aires is nevertheless a great expat destination, though if you’re thinking of getting an iPhone, you’d probably want to buy it elsewhere,” UBS says, alluding to the high price for the phone.

The UBS survey looks at prices of 128 goods and services for a 3-member family.