We investigate the maximum number of simple cycles and the maximum number of Hamiltonian cycles in a planar graph G with n vertices. Using the transfer matrix method we construct a family of graphs which have at least 2.4262n simple cycles and at least 2.0845n Hamilton cycles. Based on counting arguments for perfect matchings we prove that 2.3404n is an upper bound for the number of Hamiltonian cycles. Moreover, we obtain upper bounds for the number of simple cycles of a given length with a face coloring technique. Combining both, we show that there is no planar graph with more than 2.8927n simple cycles. This reduces the previous gap between the upper and lower bound for the exponential