Bali is a beautiful island in Indonesia that is known for its stunning beaches, lush jungles, and vibrant culture. Although it’s a popular tourist destination, many people don’t realize how expensive it can be to live there. In this article, we’ll take a look at the cost of living in Bali and some of the things you need to know before making the move.
A brief history of Bal
Bali is an island located in Indonesia. It’s known for its stunning beaches, lush jungles, and vibrant culture. Many people visit Bali for its beautiful landscape and its relaxed atmosphere. However, what many people don’t realize is that the cost of living in Bali can be quite high.
There are a few things you should consider when considering the cost of living in Bali. The currency in Indonesia is the Indonesian Rupiah (IDR). The exchange rate between the US dollar (USD) and IDR is currently around 14,000 IDR to 1 USD. That means everything in Bali will be more expensive than it would be in the United States.
Tips for migrating to Bali
Here are some tips to help you migrate to Bali on a budget:
- Make your research:
Before you make the move to Bali, make sure you do your research. There are many costs you may not be aware of, such as housing and transportation costs. By doing your research in advance, you can budget for these expenses and avoid any surprises.
- Find a job:
There are many opportunities for employment on the island, so make sure you explore your options.
- Save money:
Another way to lower the cost of living in Bali is to save money. There are many ways to save money on food, transport, and housing. By being aware of your spending, you can further extend your budget.
- Enjoy the island:
One of the best parts of living in Bali is the opportunity to enjoy the island’s many attractions. From its stunning beaches to its vibrant culture, there is plenty to explore on this beautiful island. Make sure you take advantage of everything Bali has to offer.
Bali Gross Domestic Product
That’s because Bali is a popular tourist destination and many people come to the island to spend their money. There are many luxury items and services available on the island, which raises prices.
According to the World Bank, Bali’s gross domestic product (GDP) was $12.3 billion in 2017. This per capita GDP of $3,837 is quite high compared to other Southeast Asian countries. Indonesia’s GDP per capita is $3,015, and Thailand is $6,068.
Different costs of living in Bali
- Cost of feeding:
The cost of food in Bali is surprisingly high, especially if you’re used to eating Western food. The prices of basic products like rice and noodles are similar to what you would pay in other parts of Indonesia, but the prices of meat, vegetables, and fruit are much higher. For example, a kilo of chicken breast can cost about $10 and a kilo of tomatoes can cost about $5. If you’re not used to cooking Indonesian food, you’re likely to find yourself spending a lot more on food than you would back home.
- Cost of transport:
Bali is an island, so the only way to move is by boat or by plane. The cost of transport can be quite expensive, especially if you’re trying to get to another island. The good news is that there are many ways to save money on transport. You can take advantage of discounts and promotions, or try to find a less expensive option.
- Healthcare costs:
The cost of healthcare in Bali is relatively high when compared to other countries in Southeast Asia. There are several reasons for this, including the fact that most hospitals and clinics are privately owned and therefore pay higher fees. Moreover, many of the medical professionals working in Bali are formers who have higher salaries.
- Insurance Cost:
One of the biggest expenses you will face when you live in Bali is the cost of insurance. Because the island is prone to natural disasters like earthquakes and tsunamis, insurance is a must. Even if you just rent a property, you will need earthquake and tsunami insurance. The good news is that many insurance companies offer coverage for Bali, so you can shop for the best tariffs.
- Cost of accommodation:
The cost of accommodation in Bali can be quite high, especially if you are looking for a place in a popular tourist area. Hotel rates can start from $50 per night, and villas can cost over $200 per night. If you’re looking for a more affordable option, there are plenty of hostels and residences available for around $20 per night. Keep in mind, however, that the quality of these accommodations can vary greatly.