Friday, February 26, 2010

Equatorial Guinea, Malabo Cost of Living January 2010

LOCATION: Equatorial Guinea is in Western Africa, bordering the Bight of Biafra, between Cameroon and Gabon.

CAPITAL CITY: Malabo

LARGEST CITY: Malabo

CURRENCY: CFA Franc (XAF)

ECONOMY: Pre-independence Equatorial Guinea counted on cocoa production for hard currency earnings. The discovery of large oil reserves in 1996 and its subsequent exploitation have contributed to a dramatic increase in government revenue. Equatorial Guinea is one of the largest oil producers in Sub-Saharan Africa. Equatorial Guinea has one of the highest per capita incomes in the world. Many people however live in poverty. Forestry, farming, and fishing are also major components of GDP.

Malabo has an overall cost of living index which equates it with middle cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups. Malabo is currently ranked 167 overall, most expensive place in the world for expatriates to live, out of 276 international locations. The cost of living overview for each of the 13 Basket Groups is as follows:

Alcohol & Tobacco costs for alcoholic beverages such as alcohol at bar, beer, locally produced spirit, whiskey, and wine as well as tobacco products such as cigarettes is relatively less expensive compared to other cities with a rank of 262 out of 276.

Clothing costs for clothing and footwear products such as business suits, casual clothing, childrens clothing and footwear, coats and hats, evening wear, shoe repairs, and underwear is equally expensive on average compared to other cities with a rank of 105 out of 276.

Communication costs for various communication costs such as home telephone rental and call charges, internet connection and service provider fees, mobile / cellular phone contract and calls is relatively less expensive compared to other cities with a rank of 231 out of 276.

Education costs such as creche / pre-school fees, high school / college fees, primary school fees, and tertiary study fees is relatively more expensive compared to other cities with a rank of 86 out of 276.

Furniture & Appliance costs for furniture, household equipment and household appliances such as dvd player, fridge freezer, iron, kettle, toaster, microwave, light bulbs, television, vacuum cleaner, and washing machine is relatively less expensive compared to other cities with a rank of 272 out of 276.

Grocery costs for food, non-alcoholic beverages and cleaning material items such as baby consumables, baked goods, baking, canned foods, cheese, cleaning products, dairy, fresh fruits, fresh vegetables, fruit juices, meat, oil & vinegars, pet food, pre-prepared meals, sauces, seafood, snacks, soft drinks, spices & herbs is equally expensive on average compared to other cities with a rank of 169 out of 276.

Healthcare costs for general healthcare, medical and medical insurance such as general practitioner consultation rates, hospital private ward daily rate, non-prescription medicine, and private medical insurance / medical aid contributions is equally expensive on average compared to other cities with a rank of 134 out of 276.

Household costs for housing, water, electricity, household gas, household fuels, local rates and residential taxes such as house / flat mortgage, house / flat rental, household electricity consumption, household gas / fuel consumption, household water consumption, and local property rates / taxes / levies is equally expensive on average compared to other cities with a rank of 113 out of 276.

Miscellaneous costs related to stationary, linen and general goods and services such as domestic help, dry cleaning, linen, office supplies, newspapers and magazines, and postage stamps is relatively less expensive compared to other cities with a rank of 233 out of 276.

Personal Care costs for personal care products and services such as cosmetics, hair care, moisturizer / sun block, nappies, pain relief tablets, toilet paper, toothpaste, and soap / shampoo / conditioner is equally expensive on average compared to other cities with a rank of 105 out of 276.

Recreation and Culture costs such as books, camera film, cinema ticket, DVD and CDs, sports goods, and theatre tickets is relatively less expensive compared to other cities with a rank of 275 out of 276.

Restaurants, Meals Out and Hotel costs such as business dinner, dinner at a restaurant (non fast food), hotel rates, take away drinks and snacks (fast food) is relatively more expensive compared to other cities with a rank of 19 out of 276.

Transport costs for public transport, vehicle costs, vehicle fuel, vehicle insurance and vehicle maintenance such as hire purchase / lease of vehicle, petrol / diesel, public transport service maintenance, tires, vehicle Insurance, and vehicle purchase is equally expensive on average compared to other cities with a rank of 100 out of 276.

Your exact customized cost of living index for Malabo is based on which of the above basket groups as well as the comparison location you select in the Calculators.

In terms of the hardship people are likely to experience, assessed in global terms, Malabo is ranked as an extreme hardship location with a hardship index of 40%.

Your exact customized hardship index premium for Malabo is based on the comparison location that you select in the Calculators.