Colombo is the largest city and commercial capital of Sri Lanka. The great majority of Sri Lankan corporations have their head offices in Colombo. Some of the industries include chemicals, textiles, glass, cement, leather goods, furniture, and jewellery. In the city centre is located South Asia's second tallest building - The World Trade Centre. Sri Lanka is an island in the Indian Ocean, south of India. The climate is tropical monsoon. The official languages are Sinhala and Tamil. English is the language of business. Many Sri Lankans outside business speak some English. The main religions are Buddhism, Hinduism, Islam and Christianity. The economy of Sri Lanka is famous for the production and export of tea, coffee, coconuts, rubber and cinnamon which is native to the country. Expatriate business dress is generally conservative, although casual smart clothing is acceptable given the warm weather. Sri Lanka is proud of it's tea and it is customary to be offered tea at business meetings. Expatriates who decline tea may be considered impolite. The security risk for expatriates in Sri Lanka is medium. Risks include petty crime, tension between Sinhalese Buddhists, Tamil Hindus and Tamil Muslims and occasional clashes with the security forces. The currency of Sri Lanka is the Sri Lanka Rupee (LKR). While ATMs are available in major urban areas not all international cards are accepted. Major credit cards are accepted at some shops and restaurants. Medical facilities are not generally comparable to those of Western Europe and North America, especially in rural areas. In Colombo specialist medical care is available, but it is expensive. The population of Colombo is 5.6 Million (2018 est.), while the inflation rate (CPI) is 2.8% for Sri Lanka as at December 2018. Xpatulator Hypothetical Tax for Sri Lanka is based on the current personal income tax rates which are progressive up to 24%.
Cost Of Living
The cost of living for expatriates / professional migrants in In Colombo, 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): Colombo as at 1 January 2019 is low in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: Very High 2) Clothing: Very Low 3) Communication: Very Low 4) Education: Low 5) Furniture & Appliances: Average 6) Groceries: High 7) Healthcare: Very Low 8) Household Accommodation: High 9) Miscellaneous: Average 10) Personal Care: Low 11) Recreation & Culture: Very Low 12) Restaurants Meals Out and Hotels: Low 13) Transport: Low Colombo is for example 26.5% more expensive than Houston TX for groceries, 42.9% more expensive for household costs than Kuala Lumpur, and 11.4% more expensive for transport costs than Dubai. The hardship premium for Colombo for an expat from Perth, is for example 20%, i.e. host location (Colombo) premium of 30% minus home (Perth) location premium of 10%. Colombo 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 Colombo? Register subscribe to your home location and Colombo and run your personalised reports.