LOCATION: Iraq is in the Middle East, bordering the Persian Gulf, between Iran and Kuwait.
CAPITAL CITY: Baghdad
LARGEST CITY: Baghdad
CURRENCY: Iraqi Dinar (IQD)
ECONOMY: Iraq’s economy is dominated by the oil sector, which has traditionally provided about 95 percent of foreign exchange earnings. Economic activity has drastically reduced due to Iraq’s seizure of Kuwait in August 1990, the subsequent international economic sanctions, and damage from military action by an international coalition beginning in January 1991. There has been a shutdown of much of the central economic administrative structure. The immediate need is to resolve the destabilizing security and political conflicts. The Iraqi government is seeking to pass laws to strengthen the economy and encourage investment whilst ensuring an equitable divide of oil revenues within the nation.
Baghdad has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups. Baghdad is currently ranked 250 overall, most expensive place in the world for expatriates to live, out of 276 international locations. The cost of living overview for each of the 13 Basket Groups is as follows:
Alcohol & Tobacco costs for alcoholic beverages such as alcohol at bar, beer, locally produced spirit, whiskey, and wine as well as tobacco products such as cigarettes is relatively less expensive compared to other cities with a rank of 267 out of 276.
Clothing costs for clothing and footwear products such as business suits, casual clothing, childrens clothing and footwear, coats and hats, evening wear, shoe repairs, and underwear is relatively less expensive compared to other cities with a rank of 226 out of 276.
Communication costs for various communication costs such as home telephone rental and call charges, internet connection and service provider fees, mobile / cellular phone contract and calls is relatively less expensive compared to other cities with a rank of 214 out of 276.
Education costs such as creche / pre-school fees, high school / college fees, primary school fees, and tertiary study fees is equally expensive on average compared to other cities with a rank of 161 out of 276.
Furniture & Appliance costs for furniture, household equipment and household appliances such as dvd player, fridge freezer, iron, kettle, toaster, microwave, light bulbs, television, vacuum cleaner, and washing machine is equally expensive on average compared to other cities with a rank of 181 out of 276.
Grocery costs for food, non-alcoholic beverages and cleaning material items such as baby consumables, baked goods, baking, canned foods, cheese, cleaning products, dairy, fresh fruits, fresh vegetables, fruit juices, meat, oil & vinegars, pet food, pre-prepared meals, sauces, seafood, snacks, soft drinks, spices & herbs is equally expensive on average compared to other cities with a rank of 176 out of 276.
Healthcare costs for general healthcare, medical and medical insurance such as general practitioner consultation rates, hospital private ward daily rate, non-prescription medicine, and private medical insurance / medical aid contributions is relatively less expensive compared to other cities with a rank of 237 out of 276.
Household costs for housing, water, electricity, household gas, household fuels, local rates and residential taxes such as house / flat mortgage, house / flat rental, household electricity consumption, household gas / fuel consumption, household water consumption, and local property rates / taxes / levies is relatively less expensive compared to other cities with a rank of 269 out of 276.
Miscellaneous costs related to stationary, linen and general goods and services such as domestic help, dry cleaning, linen, office supplies, newspapers and magazines, and postage stamps is relatively less expensive compared to other cities with a rank of 224 out of 276.
Personal Care costs for personal care products and services such as cosmetics, hair care, moisturizer / sun block, nappies, pain relief tablets, toilet paper, toothpaste, and soap / shampoo / conditioner is equally expensive on average compared to other cities with a rank of 177 out of 276.
Recreation and Culture costs such as books, camera film, cinema ticket, DVD and CDs, sports goods, and theatre tickets is equally expensive on average compared to other cities with a rank of 155 out of 276.
Restaurants, Meals Out and Hotel costs such as business dinner, dinner at a restaurant (non fast food), hotel rates, take away drinks and snacks (fast food) is equally expensive on average compared to other cities with a rank of 95 out of 276.
Transport costs for public transport, vehicle costs, vehicle fuel, vehicle insurance and vehicle maintenance such as hire purchase / lease of vehicle, petrol / diesel, public transport service maintenance, tires, vehicle Insurance, and vehicle purchase is relatively less expensive compared to other cities with a rank of 250 out of 276.
Your exact customized cost of living index for Baghdad is based on which of the above basket groups as well as the comparison location you select in the Calculators.
In terms of the hardship people are likely to experience, assessed in global terms, Baghdad is ranked as an extreme hardship location with a hardship index of 40%.
Your exact customized hardship index premium for Baghdad is based on the comparison location that you select in the Calculators.
About The Author:
Steven is Chief Instigator at http://www.xpatulator.com a website that provides cost of living index information and calculates what you need to earn to compensate for cost of living, hardship, and exchange rate differences.