The Bahamas is a popular vacation island located in the Caribbean Islands. It is visited by thousands of tourists yearly owing to its blue oceans and warm, sunny weather all year round.
Staying in the Bahamas is not a cheap treat, which is why people mainly do not go at any time to visit this place unless they are wealthy. Going to the Bahamas also takes a considerable amount of planning and saving to enjoy the area to its fullest. Let’s see how much it costs to be in the Bahamas for a day as a tourist.
Quick Facts: The Cost Of Living In The Bahamas
The currency of the Bahamas is just about equivalent to that of the United States Dollar so 1 BSD is equal to 1 USD. The overall cost of living in the Bahamas when compared to the United States is as follows:
- The consumer prices are about 23% higher in the Bahamas than in the United States excluding rent
- Consumer prices with rent are about 10% higher in the Bahamas when compared to the United States
- The cost of renting is lower in the Bahamas by 15% when compared to the United States rent
- Eating at a restaurant is 29% more expensive in the Bahamas than in the United StatesGroceries in the Bahamas differ by 2.2% higher in the Bahamas than in the United States
- The local purchasing power in the Bahamas is 57% lower in the Bahamas than in the United States
A person that wants to live in the Bahamas will need to be financially stable as the cost of living exceeds the average in the United States. Generally speaking, the Bahamas is one of the most expensive countries to live in in the world. According to the World Bank 2014 World Development Report, the Bahamas has a gross national income per capita of $21,280 USD. Although there are various employment opportunities for foreigners, first priority is always given to Bahamian nationals which makes it harder for foreigners to secure financial stability and career growth.
From a tourists’ perspective, who is not intending on permanently staying in the Bahamas, this is roughly how much they would be spending in a month (including one-day-only items ) for necessities:
The Cost Of Food In The Bahamas
- A meal combo at McDonald’s or similar fast food restaurant - US$6
- A cup of coffee – US$4
- A liter of normal milk – US$3
- One loaf of fresh-baked bread – US$4
- One kilogram of rice packet – US$3
- A one-dozen carton of eggs – US$3
- A kilogram of local cheese – US$6
- Bottled water (1.5 liters) – US$2.75
- A bottle of normal range wine – US$13.50
- Local beer – US$2.75
- One packet of cigarettes – US$5Total - US$53
Additionally, if an individual prefers to dine at a restaurant, they must be prepared to spend about US$20 for cheaper local restaurants and a range between $60 - $100 for a three-course meal for two people and at a medium range restaurant.
The Cost Of Transportation In The Bahamas
One liter of gasoline costs between US$1.43 to US$1.53 in the Bahamas while a one-way local bus ticket costs US$1.25, a normal monthly bus ticket costs between US$56 to US$150 depending on the type of bus and distance.
The Cost Of Personal Care In The Bahamas
Normal everyday essentials one might need during their visit:
- Flu medication sufficient for 1 week - US$5.70
- One box of antibiotics - US$23
- A 15-minute visit to the doctor’s office - US$114
- A box of tampons (32 per box) - US$8
- Roll on or deodorant - US$10
- Hair shampoo - US$14
- Four rolls of toilet paper - US$5.99
- 1 tube of toothpaste - US$8
- Standard haircut for men - US$20
Totals - US$105.69
The Cost Of Entertainment In The Bahamas
In order to have fun, one might expect to spend the following for a basic amount of entertainment a tourist might wish to have:
- Two movie tickets - US$60
- One cocktail drink in a club downtown - US$24
- Wifi (128GB) - US$1198
- One minute of prepaid mobile tariff with no discount plan set - US$0.73
- One month of gym membership in a business area - US$112
Totals - US$1394.73
So, Why Is The Bahamas So Expensive?
The reason for the higher cost of living in the Bahamas is because the place is an island, which means they do not have their own factories to produce the goods they use within the country therefore they import the majority of the goods they use. All these items are taxed and need to clear customs before they are allowed in the country which significantly increases their value when compared to other countries. Adversely, the Bahamas does not have income tax like the United States so the government makes its money through import tax and value-added tax (VAT) on goods and services offered by vendors.
How Far Can $100 Get You In The Bahamas?
Despite the fact that the American dollar is almost just equivalent to the Bahamian dollar, expenses in the Bahamas are extremely costly when compared.
- What can you buy: For US$100, any person may be able to buy 10 gallons of milk, 20 gallons of gasoline, or about 14 combo meals from fast-food restaurants such as McDonald’s.
For a person who wants to go to the Bahamas, they should expect to spend about US$200 per day in order to live a medium comfortable life for their stay in the Bahamas. In this admired destination, US$100 will not get you very far. Spending this amount per day would put one in a situation where they are barely surviving, which can add stress to a carefree trip.