Bangladesh is in Southern Asia, bordering the Bay of Bengal, between Burma and India. The climate is tropical with mild winters and hot, humid summers. The official language is Bangla (also known as Bengali). English is widely spoken in government and business circles, as well as by some staff at hotels, airports and railway stations, but elsewhere English might not be spoken. The main religions are Islam and Hinduism. The economy of Bangladesh remains a developing nation despite continuous domestic and international efforts to improve its economic and demographic prospects. Its per capita income in 2008 was US$520 compared to the world average of $10,200. Bangladesh grows very significant quantities of rice (chal), tea (Cha) and mustard. Although two-thirds of Bangladeshis are farmers, more than three quarters of Bangladesh’s export earnings come from the garment industry. A large part of foreign currency earnings also comes from the remittances sent by expatriates living in other countries. Bangladesh is a conservative, hierarchical society, but with elements of Western business practices. Expatriates should take account of Islamic sensibilities. Men and women should dress modestly. Many wealthy Bangladeshi's have been educated at Western universities. Although public physical contact between sexes is unacceptable, it is common to see men walking in the street holding hands. Homosexuality is not recognised and it is advisable to be discreet about a homosexual lifestyle while in the country. Expatriate business dress should be conservative and meetings may need to be scheduled around the five daily Islamic prayer times, each lasting about five minutes. The security risk for expatriates in Bangladesh is medium but high for the Chittagong Hill Tracts and Dhaka. Risks include those related to protests, general strikes, kidnapping of business people for ransom (mostly local) and generalised crime. Other risks include those associated with heavy rain during the monsoon period. The currency of Bangladesh is the Bangladeshi Taka (BDT). Care should be taken when using credit cards as there is the potential for fraud. ATM's can be found at most international bank branches and in some international hotels. Medical facilities are generally poor. Routine tests and X-rays are generally unreliable. For expatriates serious illness or injury may require evacuation. The population of Bangladesh is 162.9 Million (2019 est.), while the inflation rate (CPI) is 5.62% for Bangladesh as at July 2019. Xpatulator Hypothetical Tax for Bangladesh is based on the current personal income tax rates which are progressive up to 30%.
Cost Of Living
The cost of living for expatriates / professional migrants in In Bangladesh, the cost of each basket, based on local prices, compared to the international average, is categorized follows (Exact cost of living percentages only available in personalised reports): Bangladesh as at 1 July 2019 is very low in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: Low 2) Clothing: Very Low 3) Communication: Very Low 4) Education: Very Low 5) Furniture & Appliances: Very High 6) Groceries: Low 7) Healthcare: Low 8) Household Accommodation: Low 9) Miscellaneous: Average 10) Personal Care: Very Low 11) Recreation & Culture: Low 12) Restaurants Meals Out and Hotels: Very Low 13) Transport: Low Bangladesh is for example -12.5% cheaper than USA for groceries, -17.1% cheaper for household costs than UK, and 61.6% more expensive for transport costs than India. The hardship premium for Bangladesh for an expat from Australia, is for example 20%, i.e. host location (Bangladesh) premium of 30% minus home (Australia) location premium of 10%. Bangladesh is ranked as a extreme hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Bangladesh? Register subscribe to your home location and Bangladesh and run your personalised reports.