Tegucigalpa is the capital city of Honduras and is also the country's largest city. Tegucigalpa's major economic sources are commerce, construction, services, textiles, sugar, and tobacco. Honduras is in Central America, bordering the Caribbean Sea, between Guatemala and Nicaragua and bordering the Gulf of Fonseca (North Pacific Ocean), between El Salvador and Nicaragua. Subtropical in lowlands, temperate in mountains. Mostly mountains in interior, narrow coastal plains. The official language is Spanish. English is spoken by many officials and businesspeople. English is also widely spoken on the Bay Islands and the Caribbean coast, albeit with some local peculiarities and a heavy accent. The main religion is Christianity. The economy of Honduras is mainly based on agriculture. Honduras has extensive forest, marine, and mineral resources but the lack of arable land, and a small domestic market continue to impede economic progress in Honduras. Unemployment is estimated at above 25%. The population in Tegucigalpa is 1.3 Mil (2014 est.), while the inflation rate is 6.23% (2014 est.).
Cost Of Living
The cost of living for expatriates in Tegucigalpa as at 1 October 2014 is low in comparison to other places in the world. In Tegucigalpa, 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: Low 3) Communication: Very High 4) Education: Very High 5) Furniture & Appliances: High 6) Groceries: Very Low 7) Healthcare: Very Low 8) Household Accommodation: Low 9) Miscellaneous: Very High 10) Personal Care: Very Low 11) Recreation & Culture: High 12) Restaurants Meals Out and Hotels: Very Low 13) Transport: Very Low Tegucigalpa is for example -18.9% cheaper than Montevideo for groceries, -17.1% cheaper for household costs than Durban, and -25.2% cheaper for transport costs than Athens. Tegucigalpa is ranked as a extreme 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 Tegucigalpa for an expat from Zurich is for example 30%, i.e. host location (Tegucigalpa) premium of 40% minus home (Zurich) 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 Tegucigalpa? Register subscribe to your home location and Tegucigalpa and run your personalised reports.