Nicaragua is in Central America, bordering both the Caribbean Sea and the North Pacific Ocean, between Costa Rica and Honduras. The climate is tropical in the lowlands and cooler in the highlands. The official language is Spanish. Spanish is used everywhere, while English is used by many officials and business personnel particularly on the Atlantic coast. The Miskito language is spoken by Miskito Amerindians, especially along the Coco river. The main religion is Christianity. The economy of Nicaragua has made significant progress toward macro-economic stabilization over the past few years. Nicaragua is primarily an agricultural country, but construction, mining, fisheries, and general commerce also have been expanding during the last few years. In Nicaragua it is expected to address people by their professional title and surname. If they do not have a professional title, refer to them as Senor (Mr), Senora (Mrs), or Senorita (Ms) and their surname. Expatriate business dress is generally conservative in the form of a suit and tie for men and a dress or skirt and blouse for women. The security risk for expatriates in Nicaragua is medium. Risks include petty and opportunistic crime, armed robbery, carjacking, homicide and violent crime. The currency of Nicaragua is the Nicaraguan Cordoba Oro (NIO). Banks can exchange US dollars. ATMs dispense US dollars and Cordobas. Medical facilities are generally below international standards. Payment for treatment is usually required in cash and may be required up front. Some private hospitals will accept major credit cards for payment. Cases of Zika virus and Chikungunya virus have been reported. The population of Nicaragua is 6.2 Million (2019 est.), while the inflation rate (CPI) is 3.3% for Nicaragua as at January 2019. Xpatulator Hypothetical Tax for Nicaragua is based on the current personal income tax rates which are progressive up to 30%.
Cost Of Living
The cost of living for expatriates / professional migrants in In Nicaragua, 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): Nicaragua as at 1 January 2019 is very low in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: Very Low 2) Clothing: Low 3) Communication: Low 4) Education: Low 5) Furniture & Appliances: Average 6) Groceries: Low 7) Healthcare: Very Low 8) Household Accommodation: Average 9) Miscellaneous: Low 10) Personal Care: Low 11) Recreation & Culture: Very Low 12) Restaurants Meals Out and Hotels: Very Low 13) Transport: Very Low Nicaragua is for example -19.5% cheaper than USA for groceries, -13.1% cheaper for household costs than UK, and 28.4% more expensive for transport costs than India. The hardship premium for Nicaragua for an expat from Australia, is for example 30%, i.e. host location (Nicaragua) premium of 40% minus home (Australia) location premium of 10%. Nicaragua is ranked as a extreme hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Nicaragua? Register subscribe to your home location and Nicaragua and run your personalised reports.