The cost of living in the Cayman Islands is relatively expensive. Because of tax-free salaries, VAT is increased on everyday items, pushing up the cost of living significantly. However, in order to offset this, salaries tend to be sky high.
Cost of accommodation in Cayman Islands
Accommodation will likely be an expat's biggest expense, but the prices vary dramatically depending on the area. Accommodation in George Town, the capital, is likely to be the most expensive owing to its proximity to amenities. Other sought-after areas, such as Seven Mile Beach, are also eye-wateringly expensive due to their popularity with tourists.
Cost of education in Cayman Islands
The cost of education varies depending on the type of school a child attends. For non-Caymanian students, public schools charge more than for local students. However, this is still considerably less than the fees of private or international schools.
Private and international school fees range from school to school, but are generally rather exorbitant. Some schools offer a sibling discount. Most private schools prefer fees to be paid annually.
Cost of living in Cayman Islands chart
Prices may vary depending on product and service provider. The list below shows average prices for November 2020 in George Town.