Gibraltar is a self-governing British overseas territory. The role of the UK Ministry of Defence, which at one time was Gibraltar's main source of income, has declined, with today's economy mainly based on shipping, tourism, financial services, and the Internet. Gibraltar (Overseas Territory of the UK) is in South Western Europe, bordering the Strait of Gibraltar, which links the Mediterranean Sea and the North Atlantic Ocean, on the southern coast of Spain. Mediterranean with mild winters and warm summers. A narrow coastal lowland borders the Rock of Gibraltar. The official language is English. Most local people also speak Spanish. Besides English and Spanish, there are also some residents who speak Arabic. The local dialect, called Llanito, which is a mixture between Andalusian Spanish and English, is also widely spoken. The main religion is Christianity. The economy of Gibraltar is managed and controlled by the Government of Gibraltar. Whilst being part of the European Union, the British overseas territory of Gibraltar has a separate legal jurisdiction from the United Kingdom and enjoys a different tax system. Gibraltar has historically been an important base for the British Armed Forces and is the site of a Royal Navy base. The security risk for expatriates in Gibraltar is low. Risks include low levels of petty crime such as pickpocketing and theft, particularly in tourist areas. The population in Gibraltar is 0.03 Mil (2014 est.), while the inflation rate is 2.8% (2014 est.).
Cost Of Living
The cost of living for expatriates in Gibraltar as at 1 July 2015 is high in comparison to other places in the world. In Gibraltar, the cost of each basket, based on local prices, compared to the international average in USD, is categorized follows: 1) Alcohol (where available) & Tobacco: Average 2) Clothing: High 3) Communication: High 4) Education: Low 5) Furniture & Appliances: Average 6) Groceries: Very High 7) Healthcare: Very Low 8) Household Accommodation: High 9) Miscellaneous: Average 10) Personal Care: Low 11) Recreation & Culture: High 12) Restaurants Meals Out and Hotels: Very High 13) Transport: Average Gibraltar is for example 33.3% more expensive than Uruguay for groceries, 38.6% more expensive for household costs than South Africa, and 13.5% more expensive for transport costs than Greece. Gibraltar is ranked as a some hardship location. Hardship (also know as quality of living) refers to the degree of hardship an expatriate and their family are likely to experience in the host location. Hardship pay is compensation to encourage people to move, in particular to less desirable locations. In determining the amount of hardship premium payable, factors such as economic, political, religious, infrastructure, environment/climate, personal safety, health, education, and transportation factors are considered. The hardship premium for Gibraltar for an expat from Switzerland, is for example 10%, i.e. host location (Gibraltar) premium of 20% minus home (Switzerland) location premium of 10%. Xpatulator.com has been created to assist subscribers calculate expatriate pay using the online calculators and extensive database of cost of living and hardship indexes, for 780 international locations. Want to know more about cost of living, hardship or expat pay in Gibraltar? Register subscribe to your home location and Gibraltar and run your personalised reports.