I love traveling – seeing and exploring new places. If I had an opportunity there are several places I would enjoy staying for a month or two. I do not however, want to move there. My life and family are here. I understand that others would enjoy residency somewhere else and I can understand. There are many places that are significantly less expensive than the US-making them attractive to our citizens. There are other countries, however, that are quite expensive. I am going to briefly discuss the top two on this list.
Bermuda is the most expensive country in the world. I have been researching it recently as my husband and I are thinking about a short visit. Visiting it sounds fun –moving there not so much! Bermuda is located 2 hours off the coast of NC-an easy and quick flight. Despite its proximity to the US it would be a difficult adjustment for most Americans. It is, of course, a lovely island with pink sand beaches and coral reefs. Unlike many destinations there is no language barrier, and of course the weather is beautiful. Unfortunately, they must import nearly all of their goods, food and energy–consequently consumer prices are quite high. Real estate is expensive as is transportation. Frankly, prices are exorbitant and typically 90-100% higher than in the US. If you have the resources, enjoy it!
The Cayman Islands are in second place-immediately behind Bermuda. Although Americans can live in the Caymans, the process can be long and arduous. As in Bermuda, all goods and foods must be imported and are also highly taxed. Restaurants and taxis are extremely expensive. The local currency is generally higher than the dollar, automatically making it even more expensive for American visitors. The country does have some positive attributes though!. There is no sales tax, income tax, corporate, capital gain or inheritance taxes. Just as in Bermuda, it is gorgeous with great beaches and a very low crime rate.
Stay tuned for some of the most reasonably priced countries!
I never realized that the Cayman Islands were expensive. I thought it would be similar to some other Caribbean islands and certainly not one of the most expensive in the world. I think I would still like to visit for a few days.