MoveHub: Bermuda Is Most Expensive Country

March 4, 2017

Bermuda is ranked as the number one most expensive country in the world to live in, according to a report from the UK’s Independent, which cites an assessment from MoveHub.

A story in the Independent said “The world’s most expensive countries to live in were calculated by MoveHub, a company dedicated to helping people move abroad, in a new survey.

“MoveHub based its assessment on a range of costs, such as the price of groceries, transport, bills, restaurants and how much renting somewhere to live is. These figures are then compiled into an index, using the notoriously expensive city of New York as a benchmark.

“New York was given an index score of 100, and countries were then ranked based on this. So a country with a score higher than 100 is more expensive than New York, while below signals that it is cheaper.

“As a reference point, the average score for the United Kingdom was 51.03, making it the 29th most expensive country in which to live.

“Bermuda — 126.34: The Atlantic Ocean tax haven of Bermuda is officially the most expensive nation on earth, with the country’s capital Hamilton also the most expensive individual city on the planet.”

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Comments (12)

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  1. Not a tax haven says:

    I agree with us being expensive, and we’re about to get more expensive after the OBA’s latest budget, but we aren’t a tax haven! Someone needs to correct them and they need to issue an apology.

    • Wrong says:

      Perception is reality, so Bermuda is known for Triangles and Tax Havens. International Business has driven up inflation, made Bermuda too expensive for blue collar workers, but they still expect to be praised for being Bermuda’s economic messiahs.

      • sid says:

        Don’t blame IB: Bermuda’s prices are driven up by taxes and monopolies.

        The import duties are some of the highest in the world (we all know that. That’s 25% extra cost on absolutely everything.

        Bermuda has no anti-monopoly law. In fact, Bermuda’s laws protect monopolies: the 60/40 rule, the milk import ban, the anti-chain restaurant law, the electricity and telephone laws, the ban on rental cars.

        Change the tax laws and get rid of pro-monopoly laws and Bermuda’s cost of living would drop by 25% in one year.

        • Decent Citizen says:

          If you get rid of the 60/40, how would that help Bermudians?

          We’ve all seen what extreme globalization has done for the USA jobs market? We’ve already had our taste…how many jobs did HSBC move overseas?

          Locals need to have jobs! Have to always consider the social impacts of significantly disrupting the local employment market and opportunities. Local businesses would be wiped out! Less substantive jobs would remain…higher unemployment, and so on.

          Careful what you wish for!

          Smiths

    • Jus' Wonderin' says:

      1. If the PLP/UBP were in we’d still be “getting more expensive” FACT

      2. We are a “tax haven.” Why do you think so many offshore businesses/IB is set up here? FACT

  2. San George says:

    Good, keeps de small man out! That’s why we get more MRI’s than anywhere else in the world, that’s why golf courses cost $24 million to cut grass instead of the $4 million budgeted.

  3. bdaboy says:

    ” and we’re about to get more expensive after the OBA’s latest budget, ”

    …but still not as expensive as the PLP made us…you guys will always win that one :)

  4. gcode4lyfe says:

    its a shame

  5. Smarter441 says:

    Would be interesting to see the highest paid countries and compare

  6. JUNK YARD DOG says:

    Bermuda is 50 years behind the times.

    I have been telling you for some time now that
    ” Bermuda sport tourism” will float our boat.

    That has not been a good idea unless its yours.

    The America cup will unite us all, as every one will do their part,
    we open our homes and our hearts to the world.

    People come here to have wonderful experience and a good time and that should not cost an “arm and a leg” either.

    The sky is the limit.

    That opens the door to the Bermuda “TT”::: Intl’ Bermuda go~cart :::
    Bermuda formula one::: and much more.

    Hospitality is the name of our game.

    • sid says:

      JYD: sports tourism has great potential in Bermuda, I 100% agree.
      But unless you have something unique in the world, cost is a huge factor.

      Nepal can charge $100,000 to climb Mount Everest because there is only one Mount Everest. But there are plenty of places in the world with great sailing conditions and a subtropical climate.

      Until the government changes its tax, labour and business laws, sports tourists will tend to go to cheaper places.

  7. Joe Bloggs says:

    Bermuda is said to be the second most isolated group of islands in the world, after St. Helena. We do not have ferries or other relatively inexpensive transport to the mainland. Almost everything we buy has to be imported from somewhere and shipping and air transport cost money.

    Of course, import duties add an additional cost to everything.

    We priced ourselves out of most competition in the 1980s and we have not recovered from that yet.