Cost of living and prices in Bermuda, prices of food, rent, shopping, etc 🇧🇲 Updated Jul 2023
Bermuda, located in Northern America, is a small but vibrant island nation covering an area of 53 square kilometers. With a population of 65,365 and a population density of 1233.3 people per square kilometer, it is one of the most densely populated countries in the world. The official language of Bermuda is English, making it an ideal destination for English-speaking expatriates looking to relocate.
Bermuda has a booming economy, with a gross domestic product (GDP) of $5.6 billion and a high GDP per capita of $85673. The currency used in Bermuda is the Bermudian dollar, and the country's top-level domain is .bm. Despite being a small country, Bermuda offers exciting opportunities for expats who are looking for a high-quality lifestyle, excellent job opportunities, and a stable economy.
Border countries of Bermuda include the United States and Canada. The country's prime location in the Atlantic makes it a vital hub for international business, making it an excellent option for expatriates looking to work in a bustling environment. Additionally, Bermuda has a lower tax rate than many other countries in the world, contributing to its appeal for expats.
Bermuda's cost of living may be higher than some other surrounding countries, but this is due mainly to its high standard of living. Despite its high costs, Bermuda is a popular destination for expats, retirees, and those seeking to work abroad. From beautiful beaches and charming towns to a thriving economy and endless job opportunities, Bermuda offers something for everyone.
Cost of Living Estimate in Bermuda
You can calculate cost of living in Bermuda by changing quantity using input near each good or service. Resulting total will appear in a floating box in the bottom of your screen.
Visitors to Bermuda can enjoy a wide variety of dining options, including seafood restaurants, international cuisine, and local specialties. Seafood is a staple in Bermuda, thanks to its location in the Atlantic. One of the most popular local dishes is the Bermuda fish chowder, a hearty soup made with fish, vegetables, and spices. Visitors can also try Gombey pepper pot, a stew made with vegetables, meat, and spices. Many restaurants use fresh, locally sourced ingredients, making each dish a unique experience.
Bermuda also offers a great selection of international cuisine, including Italian, Indian, and Chinese. Visitors can find everything from fine dining restaurants to casual food spots. Many restaurants also offer outdoor seating, allowing diners to take in the stunning ocean views while enjoying their meal. For a more casual experience, visitors can try a roadside food truck or a local café for a quick bite. No matter what your taste, Bermuda has something to offer for everyone.
Bermuda is known for its high standard of living and this is reflected in the market prices of goods and services. The cost of living in Bermuda is relatively high compared to other destinations. This is largely due to import costs, which are higher than in most other countries, as Bermuda has to import almost everything. Despite the relatively high market prices, many visitors to Bermuda find the quality of goods and services to be of a very high standard.
Visitors to Bermuda can expect to pay more than they may be used to for goods and services, particularly in the tourism industry. However, the high prices of goods and services in Bermuda are offset by the country's stunning natural beauty, world-class beaches, and unique culture. Despite the higher prices, many visitors find that Bermuda is well worth the investment, as the experience of visiting this beautiful island is truly unforgettable. It is important to note that there are always ways to budget and make the most of your money while visiting Bermuda, without sacrificing the quality of your experience.
When it comes to transportation in Bermuda, you may be surprised to learn that rental cars aren't available on the island. Instead, visitors can choose from a variety of transportation options such as taxis, buses, and scooters. Taxis are readily available at the airport and around the island. Though they can be a bit pricey, they offer a more convenient and comfortable ride. Buses are another popular option and are an affordable way to get around. They travel to most of the major destinations and attractions on the island. Lastly, for those seeking a more adventurous and affordable option, scooters are available for rent. They allow you to explore the island at your own pace and are perfect for short trips around Bermuda.
Another unique transportation option in Bermuda is by boat. Since the island is situated in the middle of the Atlantic Ocean, boats provide a scenic and enjoyable way to travel. You can take a ferry to visit different parts of the island or even take a day trip to one of Bermuda's many surrounding islands. Additionally, private boat rentals are available for those seeking a more exclusive experience. With crystal clear waters and picturesque views, a boat ride in Bermuda is a must-do activity during your visit.
Utilities Per Month prices
If you're planning a trip to Bermuda, it's important to keep in mind that utilities cost in the country can be quite high. Electricity, water, and gas expenses can add up quickly and may come as a surprise for some travelers. This is because Bermuda does not have its own source of natural resources, which means that the country has to import these utilities from other places. As a result, Bermuda has some of the highest utility costs in the world. This is something to keep in mind when budgeting for your trip to this beautiful island nation.
To help offset the high cost of utilities in Bermuda, many hotels and guesthouses include these expenses in their nightly rates. This means that you won't have to worry about extra charges for electricity, water, or gas during your stay. However, it's important to note that this additional cost is often reflected in the overall price of your accommodations, so be sure to do your research to find an option that fits your budget. Alternatively, you might consider staying at a vacation rental, which allows you to cook your own meals and have more control over your utility expenses. No matter which option you choose, it's important to be mindful of your energy usage to help keep your costs down and reduce your impact on the environment.
Sports And Leisure prices
Sports and leisure activities are abundant in Bermuda. The island's crystal-clear waters and picturesque landscapes make it an ideal destination for water sports such as snorkeling, scuba diving, and paddleboarding. Adventure seekers can try their hand at cliff jumping into the refreshing Atlantic Ocean or jet ski along the coastline. For those who prefer a more relaxing experience, Bermuda's stunning beaches are perfect for sunbathing and taking a dip in the warm tropical waters. The island's golf courses are also world-renowned, with breathtaking ocean views and challenging greens.
Bermuda's unique culture and history also offer plenty of leisure activities. Visitors can explore the island's historic sites, such as the Royal Naval Dockyard, the Bermuda National Gallery, and the Bermuda Aquarium, Museum, and Zoo. The island's culinary scene is thriving, with fresh seafood being a staple. Foodies can indulge in the local delicacies like fish chowder, mussel pie, and rum cake. The nightlife in Bermuda is also vibrant, with live music and dancing being popular. Overall, Bermuda offers a variety of sports and leisure activities that cater to all ages and interests.
Salaries And Financing prices
Bermuda is known for its thriving business community which boasts some of the highest salaries in the world. As a major offshore financial center, many expatriates are drawn to the island to work in the finance sector. The average income is significantly higher than in many other countries, making it an attractive destination for those seeking lucrative employment opportunities. However, the cost of living is also relatively high, with housing, food, and other expenses being more expensive than in other parts of the world. It's important for visitors to budget accordingly to make the most of their time on this beautiful island.
For those interested in financing, Bermuda is known for its tax-neutral environment. It has a tax system that is designed to attract international businesses by offering them favorable conditions. Many companies choose to establish their headquarters or subsidiaries in Bermuda to take advantage of these benefits. The island is home to a wide range of financial institutions including banks, insurance companies, and investment firms. These institutions employ a significant proportion of the island's residents, making them an important part of the local economy. Visitors with interests in finance may find it rewarding to learn more about Bermuda's financial sector during their stay.
Childcare prices in Bermuda can be quite steep, especially when it comes to schools and kindergartens. Parents may expect to pay a premium for top-notch facilities, experienced teachers, and a robust curriculum. With a limited number of options available on the island, these institutions often have long waitlists and require early application to secure a spot. However, it's important to note that the investment in quality childcare can have a significant impact on a child's development and future success.
When it comes to schools and kindergartens in Bermuda, many offer a range of extracurricular activities and programs to enhance a child's learning experience. Some may focus on specific areas such as language immersion, while others may offer broader options such as music, sports, and art. Class sizes are typically small, allowing for more individualized attention and fostering a sense of community among students, parents, and teachers. Despite the cost, many parents feel that the benefits of sending their child to a reputable school or kindergarten are well worth it in the long run.
Clothing And Shoes prices
When it comes to clothing and shoes in Bermuda, you can find a variety of options to fit every budget. Whether you're looking for high-end designer brands or casual beachwear, there are plenty of places to shop. Many of the larger hotels have on-site boutiques selling resort wear and souvenirs. You can also find a range of shops and malls in Hamilton, the capital city. If you're looking for affordable options, there are several chain stores and discount outlets scattered throughout the island. No matter where you shop, you're sure to find something that fits your style and budget.
Bermuda's unique climate makes it a popular destination for beachgoers and water sports enthusiasts. When it comes to footwear, you'll want to find something that's comfortable, durable, and can withstand the sand and surf. Many of the shops selling clothing and souvenirs also sell sandals, water shoes, and other types of footwear. You can also find specialty shops selling designer beachwear and swimwear. Whether you're looking for practical shoes for exploring the island or trendy sandals to wear to dinner, you're sure to find the perfect pair in Bermuda.
Rent Per Month prices
If you're planning a trip to Bermuda and don't want to commit to a long-term rental, short-term rentals are a great option. There are many short-term accommodation options available, ranging from cozy apartments to luxurious villas. You can choose from a variety of locations, from prime seaside spots to quieter, more secluded areas.
Short-term rentals can be rented by the week, weekend, or even day. Each rental option comes with its own set of amenities, including access to gorgeous beaches, restaurants, and bars. While prices for short-term rentals in Bermuda can vary considerably, there's always something that will fit your budget without sacrificing quality. Whether you're looking for a romantic getaway, family vacation, or just a place to unwind, you'll be sure to find the perfect short-term rental accommodation for your needs in Bermuda.
Buy Apartment prices
When it comes to real estate buying options in Bermuda, there are various possibilities available. From apartments and condos to villas and luxury homes, there is something for every type of buyer. The island's beautiful and unique landscape attracts many property investors looking for a slice of paradise. Purchasers can choose to buy property close to the beach, in residential areas, or even on secluded and private islands. Prices for real estate in Bermuda can vary widely depending on the location, size, and amenities of the property, with some of the most luxurious homes and villas fetching a hefty price tag.
Bermuda's vibrant property market presents a host of choices and options for those looking to purchase real estate in the country. In addition to traditional sellers, buyers can explore various financing and renting options, including leasehold, rent-to-own, as well as shared ownership. Baby boomers, young professionals, and international retirees are some of the investors who have entered the property market in Bermuda seeking value for their money. While purchasing property in Bermuda may come with a premium price tag compared to some other Caribbean destinations, the country's stable political climate, low crime rate, and accessibility make it a prime location for real estate investment.