Kuwait is a small country located in the Middle East, known for its oil reserves, modern architecture, and beautiful beaches. In this article, we will explore the cost of living in Kuwait, including currency, comparisons to the UK and USA, breakdown of costs, and common forms of payment.
Local Currency in Kuwait
The local currency in Kuwait is the Kuwaiti Dinar (KWD). One dinar is divided into 1000 fils. Coins are available in denominations of 5, 10, 20, 50, and 100 fils, while banknotes are available in denominations of 0.25, 0.5, 1, 5, 10, and 20 dinars.
Cost of Living in Kuwait Compared to the UK and USA
The cost of living in Kuwait is generally considered to be higher than that of the UK and the USA. According to Numbeo, a website that compares the cost of living in different countries, the cost of living index in Kuwait is 53.37, while the UK is 69.08, and the USA is 76.86. This means that on average, it is more expensive to live in Kuwait than in the UK or USA.
Breakdown of Costs in Kuwait
The cost of living in Kuwait can vary depending on the location and size of the household. Here is a breakdown of some of the typical costs for singles, couples, and families of four in Kuwait:
Housing
Housing costs in Kuwait can vary depending on the location and type of housing. A one-bedroom apartment in the city center can cost around 250-400 KWD per month, while a three-bedroom apartment can cost around 500-1000 KWD per month.
Food
Kuwait offers a wide variety of international cuisine, and eating out in Kuwait can be relatively expensive. A meal at a local restaurant can cost around 5-15 KWD per person, while grocery shopping can also be expensive, with a loaf of bread costing around 0.25-0.50 KWD and a liter of milk costing around 0.75-1 KWD.
Utilities
The cost of utilities in Kuwait varies depending on the size of the household and the location. On average, electricity, water, and gas bills for a family of four can add up to around 50-100 KWD per month. Internet and mobile phone plans are also relatively expensive, with a typical plan costing around 15-25 KWD per month.
Leisure
Kuwait offers a variety of leisure activities, from visiting museums to exploring the beautiful beaches. Many activities in Kuwait can be relatively expensive, such as visiting the Kuwait Towers or enjoying a day at a water park. Paid activities can cost between 5-20 KWD per person.
Transport
Public transportation in Kuwait is available but can be relatively limited, especially outside of major cities. Taxis and ride-sharing services are also available but can be relatively expensive, with a typical 10-kilometer ride costing around 3-5 KWD. Owning a car in Kuwait can be relatively affordable due to low gasoline prices.
Clothing
The cost of clothing in Kuwait varies depending on the brand and quality. High-end designer clothing can be expensive, with a designer dress costing around 100-200 KWD or more. Affordable clothing options can be found at local stores, with t-shirts costing around 5-15 KWD and jeans costing around 20-50 KWD.
Household Goods
Household goods such as furniture, appliances, and electronics can be relatively expensive in Kuwait, especially if purchased new. Second-hand options are available and can often be more affordable, with items such as a used refrigerator costing around 50-150 KWD and a used television costing around 30-100 KWD.
Common Forms of Payment in Kuwait
Cash is still widely used in Kuwait, but electronic payment methods are becoming increasingly popular. Many businesses, especially larger chains and tourist destinations, accept credit cards. ATMs are widely available in Kuwait, but it is important to note that not all ATMs accept international debit and credit cards. It is also common to use mobile payment apps such as KNET and BenefitPay for mobile top-ups and some bill payments.
In conclusion, the cost of living in Kuwait can be relatively high compared to other countries, with expensive food and leisure options, relatively expensive utilities and transportation, and high-end designer clothing options. However, affordable housing and second-hand options for household goods can make living in Kuwait more affordable. Cash is still widely used, but electronic payment methods are becoming increasingly popular. Kuwait offers a unique and exciting lifestyle for those willing to invest in the cost of living.