Friday, June 18, 2010

Micronesia, Palikir Cost of Living April 2010

Country Full Name: Federated States of Micronesia.

Location: The Federated States of Micronesia in in Oceania, it is an island group in the North Pacific Ocean, about three-quarters of the way from Hawaii to Indonesia.

Country Climate: Tropical; heavy year-round rainfall, especially in the eastern islands; located on southern edge of the typhoon belt with occasionally severe damage.

Country Terrain: Islands vary geologically from high mountainous islands to low, coral atolls; volcanic outcroppings on Pohnpei, Kosrae, and Chuuk.

Major Languages: English, Trukese, Pohnpeian, Yapese, Kosrean.

Major Religions: Christianity.

Country Population: 0.110 million (2008 est.) 0.111 million (2009 est.).

Country Economy: The economy of the Federated States of Micronesia consists primarily of subsistence farming and fishing. The islands have few mineral deposits worth exploiting, except for high-grade phosphate. The potential for a tourist industry exists, but the remoteness of the location and a lack of adequate facilities hinder development. Financial assistance from the US is the primary source of revenue.

Currency: US Dollar (USD).

Country Inflation: 3.5% (2007 est.).

City: Palikir is the capital of the Federated States of Micronesia.

City Economy: Palikir is located on the island of Pohnpei.
Cost of Living: Palikir 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. Palikir is currently ranked 47 overall, most expensive place in the world for expatriates to live, out of 282 international locations.

For more cost of living information on Micronesia, Palikir