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Currency and Cost of Living

Cayman Islands - Currency and Cost of Living


Residents of Cayman enjoy one of the highest standards of living in the world, and importation of 90 per cent of consumer products and food - along with a government duty on imports - contributes to a cost of living that is about 20 per cent higher than that of the USA. Wages are generally higher out of an acknowledgement of the higher cost of living. The official currency of the Cayman Islands is the Cayman Island Dollar (denoted CI$) and one US dollar buys about 80-82 cents worth of Cayman dollars. Any currency (or gold) can be transferred. The US dollar, with a fixed rate of exchange, is widely quoted in local commerce and in the Cayman financial markets.

Rent is one of the highest expenses, and real estate tends to be pricey because the Caymans are popular and location drives up the cost of real estate in any market. Inflation averages about 2.7 per cent. A loaf of bread costs about CI $2.15 and regular beer costs about CI $36 per case, but prices of all goods are subject to change due to the cost of transportation to the Caymans, and this is especially true with building and construction materials.


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Expat Health Insurance Partners


Bupa Global

At Bupa we have been helping individuals and families live longer, healthier, happier lives for over 60 years. We are trusted by expats in 190 different countries and have links with healthcare organisations throughout the world. So whether you're moving abroad for a change of career or a change of scene, with our international private health insurance you will always be in safe hands.

Cigna

Cigna has worked in international health insurance for more than 30 years. Today, Cigna has over 71 million customer relationships around the world. Looking after them is an international workforce of 31,000 people, plus a network of over 1 million hospitals, physicians, clinics and health and wellness specialists worldwide, meaning you have easy access to treatment.