Barbados is a Caribbean, island in the North Atlantic Ocean, northeast of Venezuela. The climate is tropical. The official language is English. The main religion is Christianity. The economy of Barbados has transformed itself from a low-income economy dependent upon sugar production, into an upper-middle-income economy based on tourism and the offshore sector. Barbadians are generally conservative in the way they dress (arms and legs should be covered when not on a beach) and in their behaviour (personal space is respected, honesty and humility are important). Business meetings tend to be formal and punctual with Western-style suits or a modest dress. Businesswomen hold positions of authority. The security risk for expatriates in Barbados is low. Risks include petty crime such as theft, street crime, and vehicle theft particularly in Bridgetown. Other risks include those associated with hurricanes and tropical storms. The currency of Barbados is the Barbados Dollar (BBD), fixed to the US dollar. Medical facilities are adequate but limited and expensive. Serious or complex medical treatment may require evacuation which can be expensive. Cases of Chikungunya virus and Zika virus have been reported. Dengue fever is common. The population of Barbados is 285,000 (2018 est.), while the inflation rate (CPI) is 5.5% for Barbados as at June 2018. Xpatulator Hypothetical Tax for Barbados is based on the current personal income tax rates which are progressive up to 33.5%. The basic rate of income tax is 16% for the first 35,000 (BBD) of taxable income, and the higher rate is 33.5% for taxable income in excess of BBD 35,000.
Cost Of Living
The cost of living for expatriates / professional migrants in In Barbados, 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): Barbados as at 1 October 2018 is very high in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: Very High 2) Clothing: Very High 3) Communication: High 4) Education: Very High 5) Furniture & Appliances: Average 6) Groceries: Very High 7) Healthcare: High 8) Household Accommodation: High 9) Miscellaneous: High 10) Personal Care: Average 11) Recreation & Culture: Very High 12) Restaurants Meals Out and Hotels: Very High 13) Transport: Very High Barbados is for example 50.4% more expensive than USA for groceries, -1.8% cheaper for household costs than UK, and 207.1% more expensive for transport costs than India. The hardship premium for Barbados for an expat from Australia, is for example 10%, i.e. host location (Barbados) premium of 20% minus home (Australia) location premium of 10%. Barbados is ranked as a some hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Barbados? Register subscribe to your home location and Barbados and run your personalised reports.