According to the report, Bermuda is the world's most expensive place to live. Switzerland ranks second on the list (and it's definitely not the only European country), followed by new entrant the Cayman Islands, Bahamas, and Barbados.
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A relatively low cost of living is one benefit that attracts expats to the Caribbean islands. The most expensive place to live in the Caribbean is the Bahamas, with estimated monthly costs for one person above $900. In most countries, average estimated costs are lower than $650.
Barbados EconomyIs Barbados a wealthy country? Barbados is the wealthiest and one of the most developed countries in the Eastern Caribbean and enjoys one of the highest per capita incomes in the region. Historically, the Barbadian economy was dependent on sugarcane cultivation and related activities.
From world-class food and cultural sights to some of the most beautiful beaches and scenery in the world, Barbados is a dream destination that should be on every luxury traveller's bucket list.
Generally, Barbados tends to be more expensive than Jamaica in terms of food, transportation (can be twice as expensive as Jamaica in this area), events, and entertainment (as much as 70% more expensive).
Antigua and Barbuda may not be 100% free of poverty, but can be a beacon of hope towards its neighbors. At 12% they have the lowest poverty rate in the Caribbean and Central America.