Tuesday, March 2, 2010

Guinea-Bissau, Bissau Cost of Living January 2010

LOCATION: Guinea-Bissau is in Western Africa, bordering the North Atlantic Ocean, between Guinea and Senegal.

CAPITAL CITY: Bissau

LARGEST CITY: Bissau

CURRENCY: CFA Franc (XOF)

ECONOMY: Guinea-Bissau is one of the poorest countries in the world and depends mainly on farming and fishing. The country ranks sixth in the world for cashew crop production. Guinea-Bissau exports fish and seafood along with small amounts of peanuts, palm kernels, and timber. Rice is the major crop and staple food of the economy. The tightening of monetary policy and the development of the private sector have also begun to reinvigorate the economy, however due to high costs, the development of petroleum, phosphate, and other mineral resources is not a near-term prospect. Offshore oil prospecting has begun and could lead to much-needed revenue in the long run. Bissau is the country's major port, and administrative and military centre. Peanuts, hardwoods, copra, palm oil, and rubber are its chief products.

Bissau has an overall cost of living index which equates it with high 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. Bissau is currently ranked 81 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 more expensive compared to other cities with a rank of 75 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 relatively more expensive compared to other cities with a rank of 44 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 more expensive compared to other cities with a rank of 33 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 89 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 equally expensive on average compared to other cities with a rank of 152 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 122 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 160 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 relatively less expensive compared to other cities with a rank of 185 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 more expensive compared to other cities with a rank of 3 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 128 out of 276.

Recreation and Culture costs such as books, camera film, cinema ticket, DVD and CDs, sports goods, and theatre tickets is relatively more expensive compared to other cities with a rank of 11 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 equally expensive on average compared to other cities with a rank of 165 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 relatively more expensive compared to other cities with a rank of 60 out of 276.

Your exact customized cost of living index for Bissau 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, Bissau is ranked as an extreme hardship location with a hardship index of 40%.

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