In February, prices of consumer products were eight percent higher compared to last year. For us as 'frugal Dutch people' this is of course a bitter pill. But it could always be worse; MASTERS lists a number of countries where the cost of living is slightly higher.
The list was published by Numbeo. This is a crowdsourced and global database that tracks consumer prices, crime figures and healthcare statistics, among other things.
Barbados is an island nation on the eastern side of the Caribbean. On the island payment is made with the Barbadian dollar which currently equals € 0.46. According to Numbeo, the cost of living index is 88.8. For comparison: for the Netherlands this is 68.6. The local purchasing power index is a lot higher in the Netherlands, namely 107.8 and in Barbados 36.8.
If you think it's cheaper to stay one island further away, you're wrong. The Bahamas are a popular tourist destination. Many of these tourists are American, so the prices are relatively high. The cost of living index for the archipelago is 90.9.
The Cayman Islands are a British Overseas Territory in the Caribbean Sea and are mainly known as a tax haven. The cost of living index is 103.4. If you are looking for a nice place to stay; Unfortunately, it is more expensive here than in the Netherlands... The rental index is 75.7 and in the Netherlands it is 33.4.
It probably comes as no surprise that prices in Switzerland are slightly higher than in the Netherlands. The index for this country is set at 114.2. A cheap coffee is most likely not available here, as the so-called restaurant price index is 109.5.
Bermuda graces Numbeo's list at the top. With an index of 141.8, the country is number one. Only a very small part of the land is available for agriculture, which means that almost all food must be imported. So this makes the cost of living quite high. Due to the mild tax climate, many financial companies are located on the island. Bacardi's head office is also located here.
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