Cost of Living in Bahrain with Global Inflation (2023)
HTML-код
- Опубликовано: 9 июл 2024
- Bahrain is widely considered the lowest cost of living in GCC and was recently ranked 1st globally as the "Best Destination for Getting Started Abroad" in 2023 according to InterNations, based in Germany. In 2022, the same group awarded Bahrain 1st out of 52 nations for expats to live and work. When coming to a new country, the cost of living is a major factor to consider. That is what we mainly discuss in this video.
Of course there is a lot of debate about who exactly are they talking about when they say "expat". In this video we are giving our opinion about this when it comes to the cost of living in Bahrain. We think this highly depends on what is the level of development the previous country you lived in. This is measured by a country's human development index (HDI). Bahrain has a high HDI of 87.5, tied for the second highest in GCC.
If you are coming from another country which also has a high HDI, you still could have a higher cost of living in Bahrain but only if you do not change your habits. So it is best if you can drop many of your old consumption habits and be open to other ways of living. After we made this adjustment, we noticed our quality of life is better and the cost of living in Bahrain is much more reasonable.
There are many costs which exist in western countries which are very high and some of these costs do not exist in Bahrain. But on the flip side, many foreign branded consumer goods are very expensive in Bahrain. Our opinion is that in order to take advantage of the areas of cost savings in Bahrain, you have to adjust your consumption away from the foreign brands used back home in the west.
What if you come from a country which has a lower HDI than Bahrain? In this video we promote the idea of doing business in Bahrain and we notice a high level of entrepreneurial spirit. This is important for foreigners moving to Bahrain who come from places with a lower HDI. In this case you'll need to earn a higher wage than your home country. Not all jobs in Bahrain pay a high salary so if you choose to come here it's best to plan well in advance to start a business. Yes, doing business of course costs money to get started. But we noticed if you can prepare for this, we have seen a wide variety of nationalities do well in business in Bahrain.
We also discuss if you are a Bahraini, especially a young one, and are considering going abroad to work. Bahrain is a small country, thus there are some careers which have more opportunity in other places. But we mention in the video that you need to consider that although there are high salary opportunities elsewhere, the inflation rate (10% in UK) and expenses are much higher than in Bahrain. We think less about how much money we are making and more about how much we are KEEPING. This is a dilemma for some people. It's not easy to start a business in a field which you are new, but going outside to advance your career is not easy also. In western countries, many industries are fully saturated, more big corporations and less entrepreneurs. In Bahrain, a highly motivated career person is more likely to run their own business while in the west it is more likely that same type of person will work for a large company. Bahrain is a well developed country but we think it still has many untapped opportunities.
Timestamps
0:00 - Start
0:27 - Human Development Index (HDI) in Bahrain
2:26 - Expenses in Bahrain vs. Western countries
4:15 - Food costs in Bahrain
11:10 - Vehicles and car expenses
12:18 - Price inflation rate in Bahrain vs. Elsewhere
13:44 - Utilities expenses (EWA)
15:20 - Choices as a new graduate Bahraini
17:33 - Doing business in Bahrain
21:45 - Service industry in Bahrain
23:25 - Bahraini credit cards and payment systems
24:42 - Having a nanny or driver in Bahrain
26:04 - Costs of using medical clinics in Bahrain
31:49 - Leisure activities
35:31 - Being open minded
Thank you for this comprehensive video.We moving to Bahrain in August so this video was very helpful!
Glad it was helpful, hope you're ready for August heat!
Nice video. I am planning to go and work in bahrain. ❤
Brilliant video, visited Bahrain some years ago to see a family member who was working there (sadly now deceased) and I have always wanted to go back and hopefully work there.
Really
Are you ready now
Great Video! Thanks. We will be arriving in Bahrain in 1 week. We have a 3 year contract and I'm so excited to move there. It sounds great. Will definitely take some of your suggestions.
Great to hear, I think you'll enjoy your time here
@Jcroad when u watch you guys driving there, i dont see any people in the street, i it just how it is less people? or is it the heat ? or
Great insights, I am planning to move to Bahrain by next month. You video covers a lot of important topics.
Me too
Cost of living in bahrain for bachelor’s 🇧🇭|house rent🏠|food🍱|public transport🚌🚘|electricity💡
ruclips.net/video/8mGHMUshbq8/видео.html
salam, aya shoma move kardid be bahrin? man chetoor metonam namzadam ra beharm beyaran? age medonid kokmak konid lotfan. man 1 mahe didge meram baharin az Amrica
Nice video. Can y'all do a video on the top 6 places (cities) to live in bahrain 🇧🇭. I'm moving there in Feb 2024 🤞🏾
Sure, I'll put it on the list. We gotta get a habit of making more videos 😅
Bahrain is a city ..its a very small country
Amazing video, I loved it. Very informative and interesting. What kind of visa should US/UK remote worker apply for to live in Bahrain ?
Hello, thank you. People not employed in Bahrain will need a property investment visa or own a part of an active company. At some point we'll make a video about the company ownership, it's much less cost than buying a property
Very interesting thanks I watched the whole video. I have a question if I may and if you know? So my wife might apply for a international private school in Bahrain ok, so how would if work for me? As I work for myself .Because ofcourse that's a deal breaker if I can't go. It looks so amazing for a massive change, thanks for the video
Thank you, if your wife gets a job and you are self employed then based on my understanding the school should be able to arrange residence visas (and in some cases a paid place to live) for your whole family, but we are on investors visas so I'm not 100% sure. I think it depends on the employer. Alternatively, you could get the visa from buying property (min 50k BHD) or start a business. Hopefully I can put out some videos about businesses, some are very low barrier to entry in BH.
@jcroad thanks for your time to reply I appreciate it, can't wait for a adventure 😊
Hello, thanks for the amazing video. Is it possible to speak to you over the phone or zoom? The reason is i have a second interview with a high profile governmental body and not sure what is a fair salary.
The min wage for a Bahraini with a degree is currently 500 BHD per month, that should give you some idea. I've never had a job in Bahrain so I can't help you much more with this topic.
Im planning on moving to bahrain. Iv got loads of info and research but found nothing on tattoos. I have visible tattoos on my fingers and hands. Will this affect me moving or finding a job ?
Hmmm I don't know. There is Henna which is acceptable, but I have only seen it on women. It is a middle east art which is drawn on hands and fingers, it looks like tattoos but slightly different color.
Great content as usual!
I have travelled and I find a sense of belonging in the GCC.
Would like to hear your thoughts on post migration through this investment program.
- How we can do something to earn, as converting to 'employment visa' is not possible. Appears, business is the only option through this program
What else can be done to earn in Bahrain post migration through this program? Remote work is not possible for all professions. Would like to your thoughts on this.
- Again, will my children get a 'work visa' post migration though this program?
- Do you guys plan to stay there for long? Say, post retirement of the remote job?
I am seriously considering this program, hence asking. Thank you.
Thanks for the feedback, the investment visa program will get residence for any spouse and non-adult children, but not work visas. You can still work here but will need an employer sponsor and the ministry will cancel your investment visa. Making other earnings in Bahrain is a huge question which we will make more videos about. The quickest solution is setting up a business in another country and not involving anyone in Bahrain. But we decided to also put in the time learning the business culture and want to add some value locally. This takes much more time to establish so we'll post things as we figure it out.
@@jcroad Thank you. All the best with your plans!
So, just curious to know - Can we switch from an investment visa to an employment visa and later, suppose if I lose my job or retire, can I switch back to the investor visa?
I hope I will not be forced to leave the country in such a situation.
Switching visa back I'm not sure, if you still own the property I think they should do it as long as you pay the fees again. It's possible there could be a processing gap as well where you might need to be on a visit visa.
@@jcroad Got it. Thank you!
Thanks a lot for the video
Could you please mention how much it cost you two for a month without rent?
Hello, I don't track it exactly but some rough numbers for necessities are 100-125 BD at grocery markets, 25 for car fuel, EWA is between 20 and 60 for us depending on season, approx 20 for health insurance/clinic visits, phone service 8 for each, high speed fiber internet is 23, car insurance is 12 per month.
How about gas, do you need it to heat water for shower?
And what is the best bank in Bahrain that has small fees?
Water heater is electric so that's included in above cost. We don't have much experience with local banks, Al Salam Bank I believe has 300 BD min balance to waive monthly fee.
Thanks a lot
I believe that even the stove is electric, right?
Is water coming out from the valve drinkable?
When u go to Bahrain do u have to say Baggg rain or can u just say bah-rain
Lol, people understand both ways of saying it and they know us foreigners often mispronounce Bahrain. About your other question, the only areas with lots of people on streets are souqs, street markets and outdoor attractions. Otherwise it's a big driving culture, that was Seef area in video.
choice
Hello, I think Bahrain is cheaper than other GCC countries
I agree, I heard Oman is the next closest one
What are you all smoking. There is a reason why more and more Bahrain cars are coming across to Khobar. You guys are not living in Bahrain long enough to know Bahrain is ridiculously expensive. It’s getting to Dubai levels
@SS Consumption habits will make your opinion on this and everyone different. For example, any Saudi we know says they would rather shop in Bahrain. Dubai, if someone go buy a flat and a car and pay all the fees they will quickly see Bahrain is way less. In global inflation you have the west ~8-10%, more serious places like Turkey, Lebanon, Pakistan etc 50%+, the point of the video Bahrain rate of change in the cost increase is better
What about cost of schools for kids?
Hi, sorry I'm not very familiar with the school system in Bahrain
@@jcroad thank you!
@@jcroad any trustworthy real estate agent and attorney you can recommend!
You say electric is expensive or cheap without saying numbers!!
How much
During the winter I pay about 20 BHD, summer about 60 BHD. This is a combined water and electric bill.