Equatorial Guinea is in Western Africa, bordering the Bight of Biafra, between Cameroon and Gabon. The climate is tropical. It is always hot and humid. The official languages are Spanish and French. A small section of the business community speak in Malabo and Bata. Local African languages are also spoken. The staff at major hotels and restaurants are usually bilingual (Spanish and French). The main religion is Christianity. The economy of Equatorial Guinea has benefited from the discovery of large oil reserves in 1996 and its subsequent exploitation. Forestry, farming, and fishing are also major components of GDP. Subsistence farming predominates. The deterioration of the rural economy under successive brutal regimes has diminished any potential for agriculture-led growth. Equatoguineans, are mostly Catholic and very religious. Walking barefoot in public is regarded as an insult. Expatriates are rare and may be met with curiosity and suspicion. Not many women are involved in business. Business dress is typically smart and conservative. The security risk for expatriates in Equatorial Guinea is medium. Risks include those related to poor infrastructure (including electricity and water), and the lack of business facilities, hotels, internal air links and communications systems, as well as the expectation of bribes from the security forces. The currency of Equatorial Guinea is the CFA Franc BEAC (XAF). Credit cards are not generally accepted outside of major airlines and international hotels. ATMs are limited. Medical facilities are poor. Emergency facilities are extremely limited. Serious or complex medical treatment may require evacuation which can be expensive. The population of Equatorial Guinea is 1.2 Million (2018 est.), while the inflation rate (CPI) is 1.1% for Equatorial Guinea as at December 2017. Xpatulator Hypothetical Tax for Equatorial Guinea is based on the current personal income tax rates which are progressive up to 35%.
Cost Of Living
The cost of living for expatriates / professional migrants in In Equatorial Guinea, 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): Equatorial Guinea as at 1 January 2019 is average in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: Very Low 2) Clothing: High 3) Communication: Very High 4) Education: Average 5) Furniture & Appliances: High 6) Groceries: High 7) Healthcare: Very Low 8) Household Accommodation: Very Low 9) Miscellaneous: Very Low 10) Personal Care: Very Low 11) Recreation & Culture: Average 12) Restaurants Meals Out and Hotels: High 13) Transport: High Equatorial Guinea is for example 8.6% more expensive than USA for groceries, -32.2% cheaper for household costs than UK, and 111.7% more expensive for transport costs than India. The hardship premium for Equatorial Guinea for an expat from Australia, is for example 30%, i.e. host location (Equatorial Guinea) premium of 40% minus home (Australia) location premium of 10%. Equatorial Guinea is ranked as a extreme hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Equatorial Guinea? Register subscribe to your home location and Equatorial Guinea and run your personalised reports.