Barbados is a small Caribbean island nation known for its sandy beaches and tropical climate. However, how does the cost of living in Barbados compare to other countries? In this article, we will answer this question and provide a breakdown of costs for singles, couples, and families of four in Barbados.
Local Currency in Barbados
The official currency of Barbados is the Barbadian dollar (BBD). The Barbadian dollar is widely accepted in Barbados, and major credit cards are also accepted in many businesses. ATMs are widely available, and currency exchange services are also available in many locations.
Cost of Living in Barbados vs UK and USA
The cost of living in Barbados is generally higher than that of the UK and the USA. According to Numbeo, a website that provides information on the cost of living in countries around the world, the cost of living in Barbados is 10.11% higher than in the UK and 27.75% higher than in the USA. This means that it is generally more expensive to live in Barbados than in either of these countries.
Breakdown of Costs in Barbados
To provide a more detailed understanding of the cost of living in Barbados, we will break down costs for singles, couples, and families of four in the following categories: housing, food, utilities, leisure, transport, clothing, and household goods. All costs are approximate and based on current prices as of 2023.
Housing
The cost of housing in Barbados can vary widely depending on the location and size of the property. According to Numbeo, the average monthly rent for a one-bedroom apartment in the city center is BBD 1,200-1,800, while a three-bedroom apartment in the same location can cost BBD 2,500-3,500 per month. For those looking to buy property in Barbados, the average cost per square meter in the city center is BBD 5,000-7,500.
Food
The cost of food in Barbados can be relatively affordable. A loaf of bread costs approximately BBD 2.50, a liter of milk is around BBD 4.50, and a dozen eggs cost BBD 6. A meal for two in a mid-range restaurant can cost between BBD 70 and BBD 100. Grocery prices can be higher than in the UK and the USA due to the country’s reliance on imported goods.
Utilities
Utilities such as electricity, water, and gas can be relatively expensive in Barbados. The average monthly cost for these services is around BBD 500-700. Internet and mobile phone plans are also relatively expensive, with unlimited internet plans starting at around BBD 100 per month.
Leisure
Barbados is known for its outdoor activities and tourist attractions, and the cost of leisure pursuits in the country can vary depending on the activity. A visit to a museum or art gallery can cost between BBD 15 and BBD 30, while a day trip to a nearby island can cost BBD 200-300 per person. A cinema ticket costs around BBD 20, and a fitness club membership is approximately BBD 150-200 per month.
Transport
The cost of transportation in Barbados can vary depending on the mode of transportation. A liter of gasoline costs around BBD 2.50, and a monthly public transportation pass is around BBD 50-60. Taxis are also available, with an initial charge of BBD 10 and a cost of around BBD 3 per kilometer.
Clothing
The cost of clothing in Barbados can vary widely depending on the type of clothing and the location. High-end fashion brands can be relatively expensive, while other clothing items can be more affordable. A pair of jeans costs around BBD 100, while a business suit can cost between BBD 500 and BBD 1,000.
Household Goods
The cost of household goods in Barbados can vary widely depending on the type of goods. A basic set of furniture for a one-bedroom apartment can cost around BBD 5,000-10,000, while a washing machine costs approximately BBD 1,500-2,500. Electronics such as televisions and laptops can also be relatively expensive in Barbados due to higher import duties.
Forms of Payment in Barbados
The most common forms of payment in Barbados are cash and credit cards. The Barbadian dollar is widely accepted, and many businesses also accept major credit cards such as Visa and Mastercard. However, it is recommended to carry cash as some smaller businesses may not accept cards. ATMs are widely available throughout the country, and currency exchange services are also available.
The cost of living in Barbados is generally higher than that of the UK and the USA, making it a more expensive option for those looking to live in the Caribbean. The cost of housing, utilities, and transportation can be relatively expensive, while food and leisure activities are generally affordable. Cash and credit cards are the most common forms of payment, and the Barbadian dollar is widely accepted. As with any country, the cost of living in Barbados can vary widely depending on individual circumstances and lifestyle choices. However, for those looking for a beautiful island with a high standard of living, Barbados can be an attractive option.