The eceonomy of the Republic of Kiribati's is one of the poorest in the world. In one form or another, Kiribati gets a large portion of its income from abroad. Fishing fleets from South Korea, Japan, Taiwan, and the United States pay a licensing fee in order to operate in Kiribati's territorial waters.
South Tarawa is the official capital of the Republic of Kiribati. Bairiki is a village and an islet now part of South Tarawa, and at one time itself the center of government (and therefore, capital) of Kiribati.
South Tarawa 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.
The latest cost of living rank for each of the 13 Basket Groups is now available.