Montevideo is the largest city, the capital, and the chief port of Uruguay. Montevideo is the economic hub of Uruguay and is home to approximately one third of the population. Uruguay is in Southern South America, bordering the South Atlantic Ocean, between Argentina and Brazil. The climate is warm temperate. The official language is Spanish. English is the foreign language that is most readily understood in the business community. The main religion is Christianity. The economy is largely based on agriculture (making up 10% of GDP and the most substantial export) and the state sector. Uruguay's economy relies heavily on trade, particularly in agricultural exports, leaving the country vulnerable to slumps in commodity prices. Expatriate business dress is conservative, comprising dark toned suits for both men and women. The security risk for expatriates in Uruguay is low. Risks include petty crime (such as pickpocketing, bag-snatching, mugging and vehicle theft), residential burglaries and robberies at restaurants. The currency of Uruguay is the Uruguayan Peso (UYU). ATMs are available. Major credit cards are widely accepted. Medical facilities are good, however the cost of treatment for expatriates can be high. Cases of dengue fever have been reported. The population of Montevideo is 1.9 Million (Metro) (2018 est.), while the inflation rate (CPI) is 6.49% for Uruguay as at April 2018. For a single Expat, the personal income tax rate in Uruguay is progressive up to 36%.
Cost Of Living
The cost of living for expatriates / professional migrants in In Montevideo, 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): Montevideo as at 1 April 2018 is high in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: High 2) Clothing: Very High 3) Communication: High 4) Education: Very Low 5) Furniture & Appliances: Very High 6) Groceries: Average 7) Healthcare: High 8) Household Accommodation: Very High 9) Miscellaneous: Very High 10) Personal Care: High 11) Recreation & Culture: High 12) Restaurants Meals Out and Hotels: High 13) Transport: Very Low Montevideo is for example 21.1% more expensive than Houston TX for groceries, 79.1% more expensive for household costs than Kuala Lumpur, and -13.5% cheaper for transport costs than Dubai. The hardship premium for Montevideo for an expat from Perth, is for example 10%, i.e. host location (Montevideo) premium of 20% minus home (Perth) location premium of 10%. Montevideo is ranked as a some hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Montevideo? Register subscribe to your home location and Montevideo and run your personalised reports.