{"id":17975,"date":"2022-09-20T13:17:25","date_gmt":"2022-09-20T17:17:25","guid":{"rendered":"https:\/\/trendingsimple.com\/bermuda-cost-living-high\/"},"modified":"2022-09-20T13:17:25","modified_gmt":"2022-09-20T17:17:25","slug":"bermuda-cost-living-high","status":"publish","type":"post","link":"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/","title":{"rendered":"Why is Bermuda cost of living so high?"},"content":{"rendered":"<p>The unusually high price is mainly due to the high import duty. Note that only one car is allowed in Bermuda per family. Also the annual car license fee in Bermuda is huge and is much more than in USA, Canada or UK. License charge for a mid sized car will be around $500 per year.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_62 ez-toc-wrap-center counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#why-is-bermuda-cost-of-living-so-high\" title=\"Why is Bermuda cost of living so high?\">Why is Bermuda cost of living so high?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#why-is-it-so-expensive-to-live-in-bermuda\" title=\"Why is it so expensive to live in Bermuda?\">Why is it so expensive to live in Bermuda?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#is-it-expensive-to-live-in-bermuda\" title=\"Is it expensive to live in Bermuda?\">Is it expensive to live in Bermuda?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#is-bermuda-the-most-expensive-country-in-the-world\" title=\"Is Bermuda the most expensive country in the world?\">Is Bermuda the most expensive country in the world?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#whats-the-cheapest-country-to-live-in\" title=\"What&#039;s the cheapest country to live in?\">What&#39;s the cheapest country to live in?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#is-bermuda-an-expensive-place-to-live\" title=\"Is Bermuda an expensive place to live?\">Is Bermuda an expensive place to live?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#what-is-the-average-cost-of-a-house-in-bermuda\" title=\"What is the average cost of a house in Bermuda?\">What is the average cost of a house in Bermuda?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#what-is-a-good-salary-in-bermuda\" title=\"What is a good salary in Bermuda?\">What is a good salary in Bermuda?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#how-much-is-a-gallon-of-gas-in-bermuda\" title=\"How much is a gallon of gas in Bermuda?\">How much is a gallon of gas in Bermuda?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#how-much-money-do-you-need-to-live-in-bermuda\" title=\"How much money do you need to live in Bermuda?\">How much money do you need to live in Bermuda?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#how-much-is-gas-in-hawaii\" title=\"How much is gas in Hawaii?\">How much is gas in Hawaii?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#what-is-the-most-expensive-country-to-live-in-the-world\" title=\"What is the most expensive country to live in the world?\">What is the most expensive country to live in the world?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#what-is-the-average-price-of-gas-in-the-us\" title=\"What is the average price of gas in the US?\">What is the average price of gas in the US?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#what-is-the-highest-rent-in-the-world\" title=\"What is the highest rent in the world?\">What is the highest rent in the world?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#who-controls-gas-prices-in-usa\" title=\"Who controls gas prices in USA?\">Who controls gas prices in USA?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#which-is-cheapest-country-in-the-world\" title=\"Which is cheapest country in the world?\">Which is cheapest country in the world?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#what-is-the-most-expensive-city-in-the-world-to-buy-a-house\" title=\"What is the most expensive city in the world to buy a house?\">What is the most expensive city in the world to buy a house?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#will-gas-ever-go-down\" title=\"Will gas ever go down?\">Will gas ever go down?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#what-is-the-cheapest-english-speaking-country-to-live-in\" title=\"What is the cheapest English speaking country to live in?\">What is the cheapest English speaking country to live in?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#where-is-gas-cheapest-in-the-us\" title=\"Where is gas cheapest in the US?\">Where is gas cheapest in the US?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#where-is-the-cheapest-warm-place-to-live\" title=\"Where is the cheapest warm place to live?\">Where is the cheapest warm place to live?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#where-is-the-most-expensive-gas-in-the-world\" title=\"Where is the most expensive gas in the world?\">Where is the most expensive gas in the world?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#can-you-live-on-1000-a-month\" title=\"Can you live on $1000 a month?\">Can you live on $1000 a month?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#what-is-the-highest-gas-price-ever\" title=\"What is the highest gas price ever?\">What is the highest gas price ever?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/#where-is-the-cheapest-place-to-retire-in-the-world\" title=\"Where is the cheapest place to retire in the world?\">Where is the cheapest place to retire in the world?<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"why-is-bermuda-cost-of-living-so-high\"><\/span>Why is Bermuda cost of living so high?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The unusually high price is mainly due to the high import duty. Note that only one car is allowed in Bermuda per family. Also the annual car license fee in Bermuda is huge and is much more than in USA, Canada or UK. License charge for a mid sized car will be around $500 per year.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"why-is-it-so-expensive-to-live-in-bermuda\"><\/span>Why is it so expensive to live in Bermuda?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The unusually high price is mainly due to the high import duty. Note that only one car is allowed in Bermuda per family. Also the annual car license fee in Bermuda is huge and is much more than in USA, Canada or UK. License charge for a mid sized car will be around $500 per year.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"is-it-expensive-to-live-in-bermuda\"><\/span>Is it expensive to live in Bermuda?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Bermuda has the highest cost of living index, including rent, at 114.03&#37;, followed by the Cayman Islands at 109.49&#37;. Their positions flip if rent is factored out, with the Caymans at 141.64&#37; and Bermuda at 138.22&#37;.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"is-bermuda-the-most-expensive-country-in-the-world\"><\/span>Is Bermuda the most expensive country in the world?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>According to the report, Bermuda is the world&#39;s most expensive place to live. Switzerland ranks second on the list, followed by Norway, Iceland, and Barbados. Thankfully, Australia ranked 14th on the list, with an index of 77.75. Our rent index was significantly lower than Bermuda&#39;s 98.58, at just 36.84.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"whats-the-cheapest-country-to-live-in\"><\/span>What&#39;s the cheapest country to live in?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>10 best and cheapest countries to live in<\/p>\n<h3><span class=\"ez-toc-section\" id=\"is-bermuda-an-expensive-place-to-live\"><\/span>Is Bermuda an expensive place to live?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Bermuda has the highest cost of living index, including rent, at 114.03&#37;, followed by the Cayman Islands at 109.49&#37;. Their positions flip if rent is factored out, with the Caymans at 141.64&#37; and Bermuda at 138.22&#37;.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"what-is-the-average-cost-of-a-house-in-bermuda\"><\/span>What is the average cost of a house in Bermuda?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In 2020, 42&#37; of the internationally available homes were bought by Bermudians at an average price of $4,500,000, an increase from $3,365,000 in 2019. The notable increase of 34&#37; in the average price is a result of more homes sold at higher price points with the highest being $11,000,000.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"what-is-a-good-salary-in-bermuda\"><\/span>What is a good salary in Bermuda?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A person working in Bermuda typically earns around 1,590 BMD per month. Salaries range from 400 BMD (lowest average) to 7,120 BMD (highest average, actual maximum salary is higher). This is the average monthly salary including housing, transport, and other benefits.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"how-much-is-a-gallon-of-gas-in-bermuda\"><\/span>How much is a gallon of gas in Bermuda?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Gas Prices in Bermuda<\/p>\n<h3><span class=\"ez-toc-section\" id=\"how-much-money-do-you-need-to-live-in-bermuda\"><\/span>How much money do you need to live in Bermuda?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>As per Numbeo, presently the estimated monthly cost for a single person living in Bermuda is around $1,899 (without apartment rent) and that for a family of 4 is around $6,880 (without rent).<\/p>\n<h3><span class=\"ez-toc-section\" id=\"how-much-is-gas-in-hawaii\"><\/span>How much is gas in Hawaii?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Hawaii average gas prices<\/p>\n<h3><span class=\"ez-toc-section\" id=\"what-is-the-most-expensive-country-to-live-in-the-world\"><\/span>What is the most expensive country to live in the world?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A high cost of living can even make a country less appealing to vacationers and ex-pats, who get less for their money than they might elsewhere<br \/>.Most Expensive Countries to Live in 2022.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"what-is-the-average-price-of-gas-in-the-us\"><\/span>What is the average price of gas in the US?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>US Retail Gas Price is at a current level of 3.859, down from 3.938 last week and up from 3.237 one year ago. This is a change of -2.01&#37; from last week and 19.22&#37; from one year ago.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"what-is-the-highest-rent-in-the-world\"><\/span>What is the highest rent in the world?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Hong Kong is often mentioned as being the most expensive city in the world with rents of 18,308 Hong Kong Dollars, about 2,000 euro per month for a one-bedroom apartment, including utilities.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"who-controls-gas-prices-in-usa\"><\/span>Who controls gas prices in USA?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Federal, state, and local government taxes also contribute to the retail price of gasoline. The federal tax on motor gasoline is 18.40 cents per gallon, which includes an excise tax of 18.30 cents per gallon and the federal Leaking Underground Storage Tank fee of 0.1 cents per gallon.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"which-is-cheapest-country-in-the-world\"><\/span>Which is cheapest country in the world?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Top 10 Cheapest Countries to Live In (Global average &#61; 100) &#8211; Global Economy<\/p>\n<h3><span class=\"ez-toc-section\" id=\"what-is-the-most-expensive-city-in-the-world-to-buy-a-house\"><\/span>What is the most expensive city in the world to buy a house?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Hong Kong<\/p>\n<h3><span class=\"ez-toc-section\" id=\"will-gas-ever-go-down\"><\/span>Will gas ever go down?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&#34;For gasoline prices the expectation is that they will go down in 2023 to about $3.57 per gallon. According to our estimate, October will be the first month that the average price will be below $4 per gallon, at about $3.87.&#34;Jul 29, 2022<\/p>\n<h3><span class=\"ez-toc-section\" id=\"what-is-the-cheapest-english-speaking-country-to-live-in\"><\/span>What is the cheapest English speaking country to live in?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Philippines. The Philippines consistently ranks as one of the cheapest English-speaking countries to live in. Expats can plan a very comfortable life for USD $500 \u2013 USD $1,500 monthly expenses.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"where-is-gas-cheapest-in-the-us\"><\/span>Where is gas cheapest in the US?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Which state has the cheapest gas? According to AAA.com, which updates gas prices on a daily basis, Texas has the cheapest gas prices in the country. The average price of a gallon of regular gas costs only $3.761 in Texas.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"where-is-the-cheapest-warm-place-to-live\"><\/span>Where is the cheapest warm place to live?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The 10 Sunniest, and Most Affordable, Cities for Retirees<\/p>\n<h3><span class=\"ez-toc-section\" id=\"where-is-the-most-expensive-gas-in-the-world\"><\/span>Where is the most expensive gas in the world?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Photo : Atle Brunvoll. The Bloomberg Gasoline Price Ranking sorts 61 countries by average price and by \u201cpain at the pump\u201d \u2014 the portion of an average day&#39;s wages needed to buy a gallon of fuel. Norway stacks up the top of the list with 9,26 USD per gallon.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"can-you-live-on-1000-a-month\"><\/span>Can you live on $1000 a month?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>If you&#39;re trying to live on a $1,000-a-month budget, all of it can&#39;t go to housing. Unfortunately, the national average fair market rent for a one-bedroom apartment or home is $1,017 per month.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"what-is-the-highest-gas-price-ever\"><\/span>What is the highest gas price ever?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Prior to 2022, the highest ever average recorded by AAA was $4.114 per gallon in July 2008. Average U<br \/> gas prices soared to a record high of $4.33 in March shortly after Russia invaded Ukraine, which caused crude oil prices to surge and threatened global supply.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"where-is-the-cheapest-place-to-retire-in-the-world\"><\/span>Where is the cheapest place to retire in the world?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The 13 Cheapest Countries To Retire To<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The unusually high price is mainly due to the high import duty. Note that only one car is allowed in Bermuda per family. Also the annual car license fee in Bermuda is huge and is much more than in USA, Canada or UK. License charge for a mid sized car will be around $500 per [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18149,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.9.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why is Bermuda cost of living so high? - Trending Simple<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-cost-living-high\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why is Bermuda cost of living so high? - Trending Simple\" \/>\n<meta property=\"og:description\" content=\"The unusually high price is mainly due to the high import duty. Note that only one car is allowed in Bermuda per family. Also the annual car license fee in Bermuda is huge and is much more than in USA, Canada or UK. 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