The Federated States of Micronesia in in Oceania, it is an island group in the North Pacific Ocean, about three-quarters of the way from Hawaii to Indonesia. The climate is tropical with heavy year-round rainfall, especially in the eastern islands. Being near the typhoon belt there is occasionally severe damage. The official language is English. Many older people speak Japanese and other languages such as Chuukese, Kosraean, Pohnpeian and Yapese. The main religion is Christianity. The economy of the Federated States of Micronesia consists primarily of subsistence farming and fishing. The islands have few mineral deposits worth exploiting, except for high-grade phosphate. The potential for a tourist industry exists, but the remoteness of the location and a lack of adequate facilities hinder development. Financial assistance from the US is the primary source of revenue. Business dress is typically a light suit for men and modest dress for women. The security risk for expatriates in Micronesia is low. Risks include petty crime, such as pickpocketing and theft, and road accidents. The currency of Micronesia, Federated States is the US Dollar (USD). Credit cards are accepted at most hotels. ATM facilities are limited. Medical facilities are adequate for routine treatment. Complex medical cases generally require evacuation. Cases of Zika virus have been reported. The population of Micronesia is 104,900 (2019 est.), while the inflation rate (CPI) is 2% for Micronesia as at May 2019. Xpatulator Hypothetical Tax for Micronesia is based on the current personal income tax rates which are progressive up to 10%.
Cost Of Living
The cost of living for expatriates / professional migrants in In Micronesia, 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): Micronesia as at 1 July 2019 is very high in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: Very High 2) Clothing: High 3) Communication: Very Low 4) Education: Low 5) Furniture & Appliances: High 6) Groceries: High 7) Healthcare: Low 8) Household Accommodation: Very High 9) Miscellaneous: Low 10) Personal Care: Low 11) Recreation & Culture: High 12) Restaurants Meals Out and Hotels: Low 13) Transport: Very High Micronesia is for example 10.6% more expensive than USA for groceries, 43% more expensive for household costs than UK, and 165.1% more expensive for transport costs than India. The hardship premium for Micronesia for an expat from Australia, is for example 20%, i.e. host location (Micronesia) premium of 30% minus home (Australia) location premium of 10%. Micronesia 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 Micronesia? Register subscribe to your home location and Micronesia and run your personalised reports.