Avellon Williams
TRINIDAD AND TOBAGO- Caracas, Venezuela, is one of the few cities in the region that is cheaper than Kingston, Jamaica, according to a cost of living estimator that compares living costs with New York and other regions.
Jamaica ranks among the cheapest countries. Local residents (based on average income) have one of the lowest abilities to afford goods and services in the region, causing the quality of life index to be low, but those with higher incomes have something different to say.
In Kingston, Jamaican costs are lower than in other cities in the region, which makes it one of the most preferred destinations.
It is based on 40 goods and services with prices across territories, as determined by numbeo.com.
According to Numbeo, New York is the benchmark for all cities. The cost of living in Kingston (without rent) is 46.21 per cent less than that in New York.
According to Numbeo, the estimated monthly costs for a family of four in Kingston are $366,228.85 without rent. Without rent, the estimated monthly cost for a single person is $102,648.89. Rents in Kingston are on average 83.36 percent less than in New York City.
RANKING
Across the Caribbean, Kingston ranks much cheaper than other capital cities, making it one of the most affordable places to live.
For a family of four in Port-of-Spain, the capital of Trinidad and Tobago, Numbeo estimates monthly costs at $431,181 (TT$19,456.52) without rent. It is estimated that the monthly costs will be $117,493.82 (TT$5,301.77) for a single person. The cost of living in Port-of-Spain is 6.48 percent higher than that in Kingston. Compared to Kingston, Port-of-Spain rent is on average 2.85 percent lower.
According to Numbeo, groceries are also more expensive in Kingston. Kingston, however, has a 35.47 percent lower purchasing power than Port-of-Spain.
As stated on this site, “you would need about TT$21,066.84 [$466,867.71] in Kingston to maintain the same standard of living you could have with TT$22,000 in Port-of-Spain [assuming you rent in both cities]”
COMPARISON TO CARACAS, BRIDGETOWN AND NASSAU
The cost of living in Bridgetown is 54.45 percent higher than that in Kingston. Without rent, the cost of living in Bridgetown, Barbados, is estimated to be $570,886.12 (BD$7,586.24) per month for a family of four. In the absence of rent, an estimated monthly cost for a single person is $153,122.54J$ (BD$2,034.78). On average, rent in Bridgetown is 13.48 percent higher than in Kingston.
The estimated monthly cost of living in Georgetown, Guyana,for a family of four is $364,511.30 (GY$506,573.99) without rent. The estimated monthly costs for a single person without rent are $101,319.26 (GY$140,806.88). Kingston is 13.53 percent more expensive than Georgetown. The average rent in Georgetown is 43.23 percent lower than in Kingston.
Nassau, The Bahamas, has a different story. The cost of living in Nassau is 79.80 percent higher than in Kingston. In that city, an estimated monthly cost for a family of four is $692,496.16 (B$4,601.13) without rent. Without rent, a single person’s estimated monthly cost is $192,783.67 (B$1,280.91). Nassau’s rent is, on average, 167.28 percent higher than Kingston’s.
According to Numbeo, George Town, the Cayman Islands, is 90.16 percent more expensive than Kingston. Without rent, the estimated monthly cost for a family of four is $715,900.76 (KY$3,962.54). Without rent, an individual’s estimated monthly expenses are $205,593.73 (KY$1,137.97). The average rent in George Town is 322.22 percent higher than in Kingston.
Apart from Guyana, Caracas, Venezuela is one of the few places where living costs are lower than those in Jamaica.
/Image, ASI/
The estimated monthly cost for a family of four in Caracas is $308,028.94 (US$2,046.63) without rent. The estimated monthly cost of living for a single person is $82,911.50 (US$550.89$) excluding rent. The cost of living in Caracas is 19.54 percent lower than the cost of living in Kingston. Compared to Kingston, Caracas rents are 37.49 percent lower on average.
In its overall quality of life index, Numbeo rates Jamaica at 75.58, which it says is very low.
By using an empirical formula, the index includes measures of purchasing power index, pollution, house price to income ratio, safety index, health care index, traffic commute time index, and climate index. In terms of climate, the island scored highly, but in terms of other factors, it scored much lower.
Among other statistics, Numbeo is a Serbian crowdsourced database that collects perceptions of consumer prices, crime rates, and health care quality.
