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Currency and Cost of Living

Trinidad and Tobago - Currency and Cost of Living

The currency of Trinidad is the dollar and is the equivalent to around 20 US cents and around 15 centimes of the Euro. The cost of living is fairly high in Trinidad, although much lower than in most other Caribbean countries. Port-of-Spain is currently ranked 108 most expensive places in the world for expatriates to live.

The cost of alcoholic beverages such as locally produced spirits, whiskey and wine and all tobacco products is equally as expensive when compared with other cities, but some of these items are imported which adds to the cost. Clothing and footwear, including business suits, casual clothes, children's clothing and footwear, as well as coats and underwear is less expensive in relation to other countries.

Communication services such as home telephone rental and call charges, internet connection fees and service provider fees for mobile/cellular phone contracts and calls does not cost as much compared with other major cities, ranking 258 out of 282 countries which have been subject to a cost of living survey.

The cost of education is relatively low when compared with other countries, as much of this is state run and free. As regards furniture and electrical appliances and equipment such as DVD players, fridge freezers and microwaves, these are all relatively less expensive than most places despite having to be imported into the country. One of the most expensive aspects of living on the islands is the cost of food, non-alcoholic beverages, baby consumables, baked goods, canned foods, dairy products, cleaning products and any other groceries are very high compared with other countries due to importation charges, but these charges do not seem to affect personal care and toiletries, which remain reasonably priced.

Healthcare costs for general medical insurance such as general practitioner consultation rates, non-prescription medicine and medical aid contributions are equally ranked with most cities around the world. Healthcare is not free for expats so private medical insurance is a necessity.

Household costs for utilities such as water, electricity, household gas and fuels, residential taxes, local rates and mortgages are all more expensive when being compared to other cities, though it should be remembered that there is little need for heating costs in Trinidad and Tobago.

The cost of running a car or using public transport is fairly expensive so this should be factored into your requirements when you move to the country, as should the cost of taking part in recreational activities, although costs for these are on a par with most other countries.

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Bupa Global

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