Port of Spain is the capital of the Republic of Trinidad and Tobago. Port of Spain is Trinidad and Tobago's most developed city. The city serves primarily as a retail and administrative centre. Trinidad and Tobago are islands between the Caribbean Sea and the North Atlantic Ocean, northeast of Venezuela. Tropical; rainy season (June to December). Mostly plains with some hills and low mountains. The official language is English. It is widely spoken, while Creole, Spanish and some dialects are also spoken, but not in business circles. The main religions are Christianity, Hinduism, Islam. The economy of Trinidad is based on natural gas and oil. Recent growth has been fuelled by investments in liquefied natural gas (LNG), petrochemicals, and steel. Tourism and manufacturing are also important to the local economy. Tourism is a growing sector, although not proportionately as important as in many other Caribbean islands. Agricultural products include citrus, cocoa, and other products. The population in Port-of-Spain is 0.057 Mil (2014 est.), while the inflation rate is 3.08% (2014 est.).
Cost Of Living
The cost of living for expatriates in Port-of-Spain as at 1 October 2014 is high in comparison to other places in the world. In Port-of-Spain, the cost of each basket, based on local prices, compared to the international average in USD, is categorized follows: 1) Alcohol (where available) & Tobacco: Very High 2) Clothing: High 3) Communication: Very Low 4) Education: Low 5) Furniture & Appliances: High 6) Groceries: High 7) Healthcare: Average 8) Household Accommodation: High 9) Miscellaneous: Average 10) Personal Care: High 11) Recreation & Culture: High 12) Restaurants Meals Out and Hotels: Average 13) Transport: Average Port-of-Spain is for example 11.2% more expensive than Montevideo for groceries, 20.1% more expensive for household costs than Durban, and 6.3% more expensive for transport costs than Athens. Port-of-Spain 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 Port-of-Spain for an expat from Zurich is for example 10%, i.e. host location (Port-of-Spain) premium of 20% 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 Port-of-Spain? Register subscribe to your home location and Port-of-Spain and run your personalised reports.