If you’re considering moving to Oman, one of the most important factors to consider is the cost of living. In this article, we’ll take a look at the local currency, compare the cost of living in Oman to the UK and the USA, break down costs for singles, couples, and families of 4 in different categories, and explain the most common forms of payment in Oman.
Local Currency in Oman
The local currency in Oman is the Omani rial (OMR). One rial is divided into 1,000 baizas. The Omani rial is a fixed currency, which means its exchange rate is fixed to the US dollar and does not fluctuate in value.
Cost of Living in Oman Compared to the UK and USA
According to the Numbeo cost of living index, the cost of living in Oman is generally lower than in the UK and the USA. The index takes into account factors such as housing, food, utilities, transportation, and entertainment.
As of February 2023, the index shows that the cost of living in Muscat, the capital city of Oman, is about 53.33% lower than in London and 59.28% lower than in New York. The cost of living in other cities in Oman varies, but generally, the cost of living in Oman is lower than in the UK and the USA.
Breakdown of Costs in Oman
To give you an idea of what you can expect to pay for different expenses in Oman, let’s break down costs for singles, couples, and families of 4 in different categories.
Housing is one of the biggest expenses in Oman, but it is relatively affordable compared to other countries. The cost of housing varies depending on where you live and the type of housing you choose. According to Numbeo, the average cost of a one-bedroom apartment in the city center is OMR 226 per month. A three-bedroom apartment in the city center costs around OMR 458 per month.
If you’re on a tight budget, you may be able to find a room to rent for around OMR 100 per month. However, keep in mind that housing in Oman can be challenging to find, especially if you’re looking for a specific type of accommodation.
The cost of food in Oman is generally lower than in the UK and the USA. You can expect to pay around OMR 3 for a meal at an inexpensive restaurant and around OMR 15 for a meal at a mid-range restaurant.
If you’re on a tight budget, you can save money by shopping at supermarkets and cooking your meals. A week’s worth of groceries for one person costs around OMR 10-15.
The cost of utilities in Oman varies depending on the size of your home and your usage. On average, you can expect to pay around OMR 30-40 per month for utilities such as electricity, water, and gas.
The cost of leisure activities in Oman varies widely depending on what you enjoy doing. A movie ticket costs around OMR 3, and a fitness club membership costs around OMR 20-30 per month.
If you enjoy going out, expect to pay around OMR 2-3 for a beer in a bar or around OMR 5-10 for a cocktail. Entrance fees for museums and other attractions vary widely but usually range from OMR 1-5.
The cost of transport in Oman is relatively low, and the country has an efficient public transportation system. A one-way ticket on public transport in Muscat costs OMR 0.50, and a monthly pass costs OMR 15.
If you prefer to drive, you can expect to pay around OMR 0.20 per liter of gasoline. Car insurance is also relatively affordable, with an average cost of around OMR 100-150 per year.
The cost of clothing in Oman is generally lower than in the UK and the USA. The prices of clothing items depend on the brand and quality of the product. If you’re looking to buy new clothes on a budget, there are several affordable chain stores that offer reasonably priced clothing.
For example, H&M and Zara are popular stores where you can find fashionable clothes at an affordable price. A pair of jeans can cost around OMR 15-20, while a shirt can cost around OMR 7-10.
The cost of household goods in Oman varies depending on the item and brand. For example, a new television can cost anywhere from OMR 50 to OMR 500 depending on the size and features. A washing machine can cost around OMR 80-150, while a refrigerator can cost around OMR 150-300.
If you’re on a tight budget, you may be able to find used household goods on websites such as OpenSooq, the Omani version of Craigslist. Many people sell their used items at a fraction of the cost of new items.
Forms of Payment in Oman
The most common forms of payment in Oman are cash and credit cards. Most stores and restaurants accept credit cards, especially in larger cities like Muscat.
Contactless payments and mobile payments are not yet widely available in Oman, but they are slowly becoming more popular. Some banks offer mobile payment services, but these services are not yet widely used.
In addition to cash and credit cards, some stores in Oman accept payment through popular mobile apps like OmanNet and Mandoob.
The cost of living in Oman is generally lower than in the UK and the USA. Housing, food, and leisure activities tend to be more affordable in Oman, while transportation and clothing are comparable in price.
When it comes to payment methods, Oman primarily relies on cash and credit cards, but mobile payment services are slowly gaining popularity.
Before you move to Oman, it’s essential to research the cost of living in your desired location and create a budget that takes into account your income and expenses. By doing so, you can ensure that you can live comfortably in Oman without breaking the bank.