Denmark, Copenhagen

Overview

Denmark, Copenhagen Copenhagen is the capital and largest city of Denmark. Copenhagen is the economical and financial centre of Denmark and also a strong business and economic centre in the Scandinavian-Baltic region.

Denmark is in Northern Europe, bordering the Baltic Sea and the North Sea, on a peninsula north of Germany (Jutland); also includes two major islands (Sjaelland and Fyn). The climate is temperate, humid and overcast with mild, windy winters and cool summers.

The official language is Danish. It is closely related to Swedish and Norwegian. Most Danes speak good English, while some speak other Western European languages such as German, French and Spanish. The main religion is Christianity.

The economy of Denmark is a mixed economy with very few natural resources that relies almost entirely on human resources. The service sector makes up the vast amount of the employment and economy. Its industrialized market economy depends on imported raw materials and foreign trade.

Danes are overwhelmingly egalitarian and tolerant, however, a small segment of society is opposed to immigration. There is therefore a slight possibility that expatriates from ethnic minority groups may encounter offhand or unfriendly service in hotels and retail outlets. Expatriate business dress is generally conservative. Men traditionally wear dark suits and women either dresses or skirts and blouses.

The security risk for expatriates in Copenhagen is low. Risks include some petty crime in crowded areas, as well as the threat of terrorism.

The currency of Denmark is the Danish Krone (DKK). Banking is on a par with that of Western Europe and North America.

The standard of healthcare in Denmark is good, however costs of treatment for expatriates from outside the EU can be high.

The population of Copenhagen is 1.3 Million (Urban) (2019 est.), while the inflation rate (CPI) is 0.5% for Denmark as at September 2019.

Xpatulator Hypothetical Tax for Denmark is based on the current personal income tax rates which are progressive up to 48% inclusive. This comprises up to 8% Labour Market Tax + 15% State Tax +25% Municipal Tax. Note: All income from employment or self-employment is taxed at 8% before income tax. In addition state income tax has two income brackets base (11.15%) and top (15%). There is also Municipal tax which averages 25%. Expatriates who are employed in Denmark and scientists assigned to Denmark may be able to apply for a flat tax rate of 26% on their gross salary for up to 60 months . A number of conditions must be met.

Cost Of Living

The cost of living for expatriates / professional migrants in Copenhagen as at 1 October 2019 is very high in comparison to other places in the world.

We have collected prices for the same items, world wide, and converted them to $USD so that we can compare the cost of 13 different baskets in 780 global locations. For each basket, compared to New York, the equivalent cost in Copenhagen is as follows:
1) Alcohol (where available) & Tobacco: for items such as beer, spirits, wine and tobacco related products such as cigarettes. A basket costing USD$1000 in New York costs USD$780
2) Clothing: for items such as business, casual and children's clothing and footwear. A basket costing USD$1000 in New York costs USD$1330
3) Communication: for various communication costs such as home telephone rental, internet subscription, mobile service provider tariff and data costs. A basket costing USD$200 in New York costs USD$222
4) Education: for items such as creche / pre-school fees, primary school fees, high school fees and tertiary study fees. A basket costing USD$30000 in New York costs USD$28800
5) Furniture & Appliances: for items such as dining table and chairs, home entertainment, kitchen appliances, and sofas. A basket costing USD$2500 in New York costs USD$2025
6) Groceries: for items such as consumables, cleaning products, dairy, fresh fruit & vegetables, general food products, snacks, soft drinks. A basket costing USD$1000 in New York costs USD$920
7) Healthcare: for general heath care, doctor visits, hospital stays, non-prescription medicine, and medical insurance. A basket costing USD$1000 in New York costs USD$880
8) Household Accommodation: for items such as apartment rent, house rent, property purchase, mortgage rate, and utilities. A basket costing USD$5000 in New York costs USD$3400
9) Miscellaneous: for items such as dry cleaning, linen, magazines, newspapers, office supplies, and postage stamps. A basket costing USD$500 in New York costs USD$675
10) Personal Care: for items such as cosmetics, hair care, and toiletries. A basket costing USD$500 in New York costs USD$430
11) Recreation & Culture: for items such as books, cinema, sport and theatre tickets. A basket costing USD$500 in New York costs USD$530
12) Restaurants Meals Out and Hotels: for items such as hotel daily room rates, meals and beverages in a restaurant, and take away food and beverages. A basket costing USD$1000 in New York costs USD$1080
13) Transport: for items such as fuel (petrol/gasoline), car hire, public transport, vehicle purchase and maintenance. A basket costing USD$1000 in New York costs USD$1460

Copenhagen is 42.8% more expensive than Houston TX for groceries, 59.1% more expensive for household costs than Kuala Lumpur, and 147.8% more expensive for transport costs than Dubai.

Copenhagen is ranked as a minimal hardship location.

The hardship premium for Copenhagen for an expat from Perth, is for example 0%, i.e. host location (Copenhagen) premium of 10% minus home (Perth) location premium of 10%.

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The cost of living for expatriates / professional migrants in Copenhagen as at 1 October 2019 is very high in comparison to other places in the world.

Copenhagen is ranked as a minimal hardship location.