I think the biggest difference between David being at sea level and Boquete being at a significant elevation next to Volcan Baru, is the climate. The temperatures are so delicious up in the mountains...it's like spring time year round, cool and crisp. David is hot and humid.
Relative to the cost of living in David (which is in Chiriqui Province, Panama) compared to Boquete (also in Chiriqui Province, Panama), I know of people with a rental house of around $500 - $600 per month, you can figure out the rest of the budget......so I think it depends on what you are looking for. I love Boquete myself! It has a great expat community, there are many 'eclectic' types and it's growing steadily. There are a lot of things going on. One of the biggest events of the year is the "Boquete Jazz and Blues Fest" coming up the end of February this year.
BUT David has a lot of great shopping, all the stores your heart desires, the beaches are closer by.... but it's hot...
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