Guyana is in Northern South America, bordering the North Atlantic Ocean, between Suriname and Venezuela. The climate is tropical, hot and humid, moderated by northeast trade winds. The official language is English. It is widely spoken, however informal communication is carried out in Guyanese Creole. The main religions are Christianity, Hinduism and Islam. The economy of Guyana is mainly based on agriculture (production of rice and Demerara sugar), bauxite mining, gold mining, timber, shrimp fishing and minerals. Guyana is one of the poorest countries in the Western Hemisphere. Chronic problems include a shortage of skilled labour and a deficient infrastructure. Expatriate business dress should be appropriate for the humid, equatorial climate of Guyana, such as a lightweight suit or equivalent. The security risk for expatriates in Guyana is medium. Risks include generalised crime. The currency of Guyana is the Guyanese Dollar (GYD). Guyana is largely a cash based economy. Credit card acceptance is limited. Medical facilities are very limited in Georgetown and are absent in remote areas. Zika virus and Chikungunya virus have been reported. Malaria and dengue fever are common. The population of Guyana is 773,300 (2019 est.), while the inflation rate (CPI) is 2.6% for Guyana as at May 2019. Xpatulator Hypothetical Tax for Guyana is based on the current personal income tax rates which are progressive up to 40%.
Cost Of Living
The cost of living for expatriates / professional migrants in In Guyana, 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): Guyana as at 1 July 2019 is low in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: Very High 2) Clothing: Average 3) Communication: High 4) Education: Low 5) Furniture & Appliances: Average 6) Groceries: High 7) Healthcare: Average 8) Household Accommodation: High 9) Miscellaneous: Low 10) Personal Care: Average 11) Recreation & Culture: Very Low 12) Restaurants Meals Out and Hotels: Low 13) Transport: Very Low Guyana is for example 6.3% more expensive than USA for groceries, 1.6% more expensive for household costs than UK, and 23.9% more expensive for transport costs than India. The hardship premium for Guyana for an expat from Australia, is for example 20%, i.e. host location (Guyana) premium of 30% minus home (Australia) location premium of 10%. Guyana is ranked as a high degree of hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Guyana? Register subscribe to your home location and Guyana and run your personalised reports.