Local Currency
The local currency of Trinidad and Tobago is the Trinidad and Tobago dollar (TTD). The TTD is usually abbreviated as TT$ or TTD$ and is denominated in notes of $1, $5, $10, $20, $50, and $100.
Cost of Living in Trinidad and Tobago vs. UK and USA
The cost of living in Trinidad and Tobago is generally lower than in the UK and the USA. According to Numbeo, the world’s largest database of user-contributed data on living conditions in different cities, the cost of living index for Trinidad and Tobago is 53.76, while that of the UK is 67.28 and that of the USA is 72.56. This means that Trinidad and Tobago is around 20% cheaper than the UK and 25% cheaper than the USA.
Breakdown of Costs in Trinidad and Tobago
Housing
The cost of housing in Trinidad and Tobago varies depending on the location and size of the property. In the capital city of Port of Spain, for example, a one-bedroom apartment in the city center can cost between TT$3,500 and TT$6,000 per month. A larger three-bedroom apartment can cost between TT$6,000 and TT$10,000 per month.
Outside of the city center, the cost of housing is generally lower. A one-bedroom apartment in the suburbs can cost between TT$2,000 and TT$4,000 per month, while a three-bedroom apartment can cost between TT$4,000 and TT$7,000 per month.
Food
The cost of food in Trinidad and Tobago is generally lower than in the UK and the USA. A single person can expect to spend around TT$1,000 per month on groceries. A couple can expect to spend around TT$2,000 per month, while a family of four can expect to spend around TT$4,000 per month.
Utilities
The cost of utilities in Trinidad and Tobago can vary depending on the size of the property and the usage. Electricity, water, and gas bills can cost around TT$1,000 per month for a small apartment. Larger homes with more appliances and air conditioning may have higher utility bills, with some homes paying around TT$3,000 per month.
Leisure
The cost of leisure activities in Trinidad and Tobago varies depending on the activity. Movie tickets cost around TT$40 per person, while a meal at a mid-range restaurant can cost around TT$200 per person. A gym membership can cost around TT$400 per month.
Transport
The cost of transportation in Trinidad and Tobago is generally lower than in the UK and the USA. A single fare on the public transportation system costs around TT$5. Taxis are also readily available and can cost around TT$50 for a short trip.
Clothing
The cost of clothing in Trinidad and Tobago is generally similar to that of the UK and the USA. A pair of jeans can cost around TT$400, while a t-shirt can cost around TT$100.
Household Goods
The cost of household goods in Trinidad and Tobago is generally similar to that of the UK and the USA. A washing machine can cost around TT$2,000, while a refrigerator can cost around TT$4,000.
Payment Methods in Trinidad and Tobago
The most common forms of payment in Trinidad and Tobago are cash and credit/debit cards. Many businesses accept credit and debit cards, including Visa, Mastercard, and American Express. ATMs are also readily available throughout the country, making it easy to withdraw cash.
In conclusion, the cost of living in Trinidad and Tobago is generally lower than in the UK and the USA. Housing, food, and transportation are cheaper in Trinidad and Tobago, while clothing and household goods are generally similar in cost to those in the UK and the USA. The most common forms of payment in Trinidad and Tobago are cash and credit/debit cards, and ATMs are readily available throughout the country. Overall, Trinidad and Tobago can be an affordable destination for those looking to live or travel in the Caribbean.