LOCATION: Guyana is in Northern South America, bordering the North Atlantic Ocean, between Suriname and Venezuela.
CAPITAL CITY: Georgetown
LARGEST CITY: Georgetown
CURRENCY: Guyanese Dollar (GYD)
ECONOMY: Guyana’s main economic activities are agriculture (producing rice and Demerara sugar), bauxite mining, gold mining, timber, shrimp fishing and minerals. Chronic problems include a shortage of skilled labor and a deficient infrastructure. Low prices for key mining and agricultural commodities combined with troubles in the bauxite and sugar industries have threatened the government’s fiscal position and dimmed prospects for the future. Since 1999 the Guyanese economy has exhibited moderate economic growth based on an expansion in the agricultural and mining sectors, a more favorable atmosphere for business initiatives, a more realistic exchange rate, fairly low inflation, and the continued support of international organizations.
Georgetown has an overall cost of living index which equates it with low 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. Georgetown is currently ranked 215 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 13 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 less expensive compared to other cities with a rank of 270 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 58 out of 276.
Education costs such as creche / pre-school fees, high school / college fees, primary school fees, and tertiary study fees is relatively less expensive compared to other cities with a rank of 266 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 99 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 97 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 182 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 122 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 272 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 relatively less expensive compared to other cities with a rank of 238 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 221 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 less expensive compared to other cities with a rank of 214 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 less expensive compared to other cities with a rank of 263 out of 276.
Your exact customized cost of living index for Georgetown 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, Georgetown is ranked as a high degree of hardship location with a hardship index of 30%.
Your exact customized hardship index premium for Georgetown is based on the comparison location that you select in the Calculators.