Peru is in Western South America, bordering the South Pacific Ocean, between Chile and Ecuador. The climate varies from tropical in the east to dry desert in the west, and temperate to frigid in the Andes. The official languages are Spanish and Quechua. English is spoken in business, though a working knowledge of Spanish is advisable. Communicating in Spanish, if not always necessary, is appreciated. The main religion is Christianity. The economy of Peru is an emerging market-oriented economy characterized by a high level of foreign trade. Peru's economy has experienced significant growth in the last 15 years. In Peru conversations tend to take place much closer physically and stepping back can be regarded as unfriendly. Expatriate dress is typically formal in the form of a suit. The security risk for expatriates in Peru is medium overall but high in some areas. Risks include opportunistic street crime, assaults, and robbery. Other risks include earthquakes, volcanic activity, and landslides. The currency of Peru is the Peruvian Nuevo Sol (PEN). While ATMs are available in major urban areas not all international cards are accepted. Be aware that some ATMs may not automatically release the card when dispensing money and require a button to be pushed to release it. Major credit cards are accepted at some shops and restaurants. Be alert to the possibility of being passed counterfeit US dollars or local currency, especially from street money changers. Medical facilities are generally below international standards, can be expensive, and is not always available in some parts of the country. Yellow fever is endemic. The population of Peru is 32.2 Million (2019 est.), while the inflation rate (CPI) is 2.29% for Peru as at June 2019. Xpatulator Hypothetical Tax for Peru 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 Peru, 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): Peru as at 1 July 2019 is average in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: Average 2) Clothing: Average 3) Communication: High 4) Education: Average 5) Furniture & Appliances: Very High 6) Groceries: Low 7) Healthcare: Average 8) Household Accommodation: High 9) Miscellaneous: Average 10) Personal Care: Average 11) Recreation & Culture: Average 12) Restaurants Meals Out and Hotels: Low 13) Transport: Low Peru is for example -23.1% cheaper than USA for groceries, 1.1% more expensive for household costs than UK, and 63.7% more expensive for transport costs than India. The hardship premium for Peru for an expat from Australia, is for example 20%, i.e. host location (Peru) premium of 30% minus home (Australia) location premium of 10%. Peru 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 Peru? Register subscribe to your home location and Peru and run your personalised reports.