Country Full Name: Republic of Cyprus.Country Location: Cyprus is an island in the Mediterranean Sea, south of Turkey.Country Climate: Temperate; Mediterranean with hot, dry summers and cool winters.Country Terrain: Central plain with mountains to north and south; scattered but significant plains along southern coast.Country Major Languages: Greek, Turkish.Country Major Religions: Christianity, Islam.Location Population: 0.398 Mil (2012 est.).Country Economy: The economy of Cyprus is dominated by the division of the country into the southern area controlled by the Cyprus Government and the northern Turkish Cypriot-administered area. The Greek Cypriot economy is a prosperous one. Cyprus has an open, free-market, service-based economy with some light manufacturing. The Cypriots are among the most prosperous people in the Mediterranean region. Internationally, Cyprus promotes its geographical location as a bridge between West and East, along with its educated English-speaking population, moderate local costs, good airline connections, and telecommunications.Country Currency: Euro (EUR).Country Inflation: 1.7% (2012 est.).Nicosia, known locally as Lefkosia is the capital and largest city of Cyprus.Nicosia is important commercially with many shops, two modern shopping malls, restaurants and entertainment. The city is a trade centre and manufactures textiles, leather, pottery, plastic, and other products. Copper mines are nearby. Nicosia is the seat of the University of Cyprus (UCY) and four other universities.
The cost of living in Nicosia is high compared to other places. This is based on a comparison of locally collected prices for defined quantities of the same goods and services, converted to USD. Sources include local service providers in each location, international service providers, official governmental statistics and global agency data. The data is quality assured and manually checked by Xpatulator Analysts. The prices of similar related items have been grouped together into 13 basket groups and the cost of living index calculated for each basket in each location. The 13 basket groups are the result of extensive research of actual spending habits ensuring the cost of living indexes reflect a reality-based international expenditure pattern. The cost of living index for each basket for Nicosia is only available using our online calculators.The current overall cost of living rank (using all 13 baskets) for Nicosia is 280 out of 780 international locations covering every country in the world (rank 1 is most expensive: rank 780 is least expensive). The current cost of living rank for each basket is as follows: Alcohol & Tobacco costs are average compared to other places for items such as beer, spirits, wine and cigarettes. There are 454 places that are more expensive, and 325 places that are less expensive for alcohol and or tobacco.Clothing costs are very high compared to other places for items such as business, casual and children's clothing and footwear. There are 138 places that are more expensive, and 641 places that are less expensive for clothing.Communication costs are low compared to other places for various communication costs such as home telephone rental, internet subscription, mobile tariff and data costs. There are 576 places that are more expensive, and 203 places that are less expensive for communication.Education costs are very low compared to other places for items such as creche / pre-school fees, primary school fees, high school fees and tertiary study fees. There are 766 places that are more expensive, and 13 places that are less expensive for education.Furniture & Appliance costs are average compared to other places for items such as dining table and chairs, home entertainment, kitchen appliances, and sofa. There are 466 places that are more expensive, and 313 places that are less expensive for furniture and appliances.Grocery costs are high compared to other places for items such as consumables, cleaning products, dairy, fresh fruit & vegetables, general food products, snacks, soft drinks. There are 211 places that are more expensive, and 568 places that are less expensive for groceries.Healthcare costs are low compared to other places for doctor visit, hospital stay, non-prescription medicine, and medical insurance. There are 545 places that are more expensive, and 234 places that are less expensive for healthcare.Household Accommodation costs are average compared to other places for items such as apartment purchase, mortgage rate, rental, and utilities. There are 370 places that are more expensive, and 409 places that are less expensive for household accommodation.Miscellaneous costs are high compared to other places for items such as dry cleaning, linen, magazines, newspapers, office supplies, and postage stamps. There are 196 places that are more expensive, and 583 places that are less expensive for miscellaneous items.Personal Care costs are average compared to other places for items such as cosmetics, hair care, and toiletries. There are 405 places that are more expensive, and 374 places that are less expensive for personal care.Recreation and Culture costs are high compared to other places for items such as books, cinema, sport and theatre tickets. There are 166 places that are more expensive, and 613 places that are less expensive for recreation and culture.Restaurants, Meals Out and Hotel costs are very high compared to other places for items such as hotel daily room rates, meals and beverages in restaurants, and take away food and beverages. There are 33 places that are more expensive, and 746 places that are less expensive for restaurants, meals out and hotels.Transport costs are very high compared to other places for items such as fuel (petrol/gasoline), public transport, vehicle purchase and maintenance. There are 150 places that are more expensive, and 629 places that are less expensive for transport. Hardship Hardship in the context of an expatriate and their family refers to the degree of hardship they are likely to experience and the relative impact on their lifestyle in a host location. The degree of hardship correlates to the degree of difference between the home and host location. Hardship pay is compensation for the hardship likely to be endured during an international assignment in order to encourage people to move, in particular to less desirable locations. Hardship factors include-:Economic Factors: Such as poverty levels and level of service provisionPolitical Factors: Such as freedom/tolerance towards different points of view / lifestyleReligious Factors: Such as freedom/tolerance towards different religionsPublic Service Factors: Such as provision of water, electricity, sanitation, work permits etcEnvironment/Climate Factors: Such as extreme weatherPersonal Safety Factors: Such as personal safety / level of crimeHealth Factors: Such as prevalence of disease and health standardsEducation Factors: Such as education standards, prevalence of international schoolsTransportation Factors: Such as prevalence of public transport, fuel and road safety.The ratings for hardship are classified into four main groups and can be described as follows:1) Minimal Hardship (10% Hardship Premium)2) Some Hardship (20% Hardship Premium)3) High degree of Hardship (30% Hardship Premium)4) Extreme Hardship (40% Hardship Premium). Nicosia is ranked as minimal hardship with a typical hardship premium of 10%.ReferenceThe above information is updated quarterly using data collected over the previous 12 months. The international cost of living & hardship indexes are only available using our online expatriate calculators to enable users to create personalized cost of living comparison reports:Salary Purchasing Power Parity CalculatorCost of Living Index CalculatorCost of Living Allowance CalculatorPublished by Xpatulator.com on 1 April 2013.To link to this article: http://www.xpatulator.com/cost-of-living-review/Cyprus-Nicosia_61.cfm