Cayman New Resident
AL Thompson
The definitive guide to living and working in the Cayman Islands
Dec 21, 2014 

Cost of Living Scenarios

Last updated: 28th November 2014

In this section we give you an idea of how much it costs to live in the Cayman Islands. We start by giving realistic 'Cost of Living' scenarios and give examples of how much it would cost you to set up life in Cayman.



Cost of Living Breakdown
We give two examples: a) a couple (a teacher and a secretary) and b) a family with two young children (an accountant and a secretary). We then list basic cost of living tables covering a) rents b) monthly household and utility bills c) houseware costs and d) medical care costs.

After reading this you should get a good idea of what your average monthly expenses would be if you lived in Cayman. The figures quoted here are from late 2014. All prices are quoted in Cayman Islands dollars. To get the US dollar equivalent you need to take the CI figure and divide by 0.82.





Cayman Currency

Cayman has its own currency -  the Cayman Islands Dollar (CI$). This is tied to the US Dollar and does not fluctuate. The exchange rate is CI$1 = US$1.20 However, the cash rate is traded at CI$1 = US$1.25 which means that US$20 cash is worth CI$16 or US$5 is worth CI$4. You'll get the hang of it pretty fast. Usually you will not get US dollars back from a transaction. US Dollars are accepted everywhere as are travellers cheques. Almost all shops, restaurants and hotels accept credit cards and there are cash-dispensing ATMs throughout the Cayman Islands. Currency denominations are CI$ 1, 5, 10, 25, 50 and 100 dollar bills.

Currency conversions

CI $

US $

 

CI $

US $

$1.00

$1.25

 

$500.00

$625.00

$5.00

$6.25

 

$550.00

$687.50

$10.00

$12.50

 

$600.00

$750.00

$20.00

$25.00

 

$650.00

$812.50

$30.00

$37.50

 

$700.00

$875.00

$40.00

$50.00

 

$750.00

$937.50

$50.00

$62.50

 

$800.00

$1,000.00

$60.00

$75.00

 

$850.00

$1,062.50

$70.00

$87.50

 

$900.00

$1,125.00

$80.00

$100.00

 

$950.00

$1,187.50

$90.00

$112.50

 

$1,000.00

$1,250.00

$100.00

$125.00

 

$2,000.00

$2,500.00

$150.00

$187.50

 

$3,000.00

$3,750.00

$200.00

$250.00

 

$4,000.00

$5,000.00

$300.00

$375.00

 

$5,000.00

$6,250.00

$400.00

$500.00

 

$10,000.00

$12,500.00

$450.00

$562.50

 

$20,000.00

$25,000.00


Copyright 2014 The Resident Magazine 2014. All rights reserved.
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