Isle of Wight is a county and the largest island of England, located in the English Channel. The economy of the Isle of Wight is largely based on tourism but the island has a strong agricultural heritage, including sheep and dairy farming and the growing of arable crops as well as boat building. The United Kingdom is in Western Europe, and consists of islands including the northern one-sixth of the island of Ireland between the North Atlantic Ocean and the North Sea, northwest of France. The climate is temperate, moderated by prevailing southwest winds over the North Atlantic Current. More than one-half of the days are overcast. The official language is English. There are areas (such as north-western Wales and remote parts of Scotland) where it is the second language. French is the most commonly taught second language. The main religion is Christianity. The economy of the United Kingdom is that of a major developed capitalist economy. The United Kingdom is one of the world's most globalised countries. The British economy is made up of the economies of England, Scotland, Wales and Northern Ireland. In 1973, the UK acceded to the European Economic Community which is now known as the European Union after the ratification of the Treaty of Maastricht in 1993. The UK economy had been one of the strongest EU economies in terms of inflation, interest rates and unemployment, all of which remained relatively low until the 2008-09 recession, when unemployment rose dramatically, and interest rates fell to 0.5%. Expatriate business dress is generally formal, comprising suits and ties for men and suits for women, although this may differ by industry and geographic area. If in doubt, it is best to be more formal than informal. The security risk for expatriates in the United Kingdom is low. Risks include opportunistic street crime (such as pickpocketing, bag-snatching, mugging and vehicle theft), violent crime in some areas of larger cities, and terrorism. The currency of UK is the British Pound (GBP). Banking is on a par with the rest of Western Europe and North America. Medical facilities are good, however the cost of treatment for expatriates from outside the EU can be high. The population of Isle of Wight is 140,000 (2018 est.), while the inflation rate (CPI) is 2.4% for the United Kingdom as at May 2018. For a single Expat, the personal income tax rate in the United Kingdom is progressive up to 45%.
Cost Of Living
The cost of living for expatriates / professional migrants in In Isle of Wight, 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): Isle of Wight as at 1 July 2018 is average in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: High 2) Clothing: High 3) Communication: Very Low 4) Education: Low 5) Furniture & Appliances: Low 6) Groceries: Low 7) Healthcare: Average 8) Household Accommodation: Very High 9) Miscellaneous: Average 10) Personal Care: Average 11) Recreation & Culture: Average 12) Restaurants Meals Out and Hotels: Low 13) Transport: Low Isle of Wight is for example 8.1% more expensive than Houston TX for groceries, 74.4% more expensive for household costs than Kuala Lumpur, and -5.8% cheaper for transport costs than Dubai. The hardship premium for Isle of Wight for an expat from Perth, is for example 0%, i.e. host location (Isle of Wight) premium of 10% minus home (Perth) location premium of 10%. Isle of Wight is ranked as a minimal hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Isle of Wight? Register subscribe to your home location and Isle of Wight and run your personalised reports.