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Antigua and Barbuda, a twin-island nation nestled in the heart of the Caribbean, has long been a favored destination for expatriates and investors seeking a blend of tropical beauty and economic opportunity. The strong economy and beautiful beaches, combined with favorable investment incentives and business policies, have positioned Antigua and Barbuda as the 59th best country to live in the world. It ranks 74th out of 197 countries worldwide in terms of cost of living, making it 1.01 times less expensive than the world average. We break down the costs below.
- Antigua and Barbuda’s economy has shown resilience, with a GDP growth rate of 5.8% in 2024, driven primarily by tourism, real estate development, and foreign direct investment.
- Antigua’s citizenship by investment program (established in 2014) is one of the many initiatives put in place by the government to draw investors to the destination.
- Ranked 74th globally in terms of cost of living, Antigua and Barbuda offers a living standard that is 1.01 times less expensive than the world average.
- Housing is one of the biggest expenses in the country, with property prices experiencing an annual growth rate of about 5% since 2019.
- Transportation is relatively affordable, with public buses offering inexpensive fares, though private vehicles come with additional import duties, taxes, and fuel costs.
- Local produce and seafood are generally affordable, while imported goods contribute to higher costs.
Overview of the Cost of Living in Antigua and Barbuda
Aside from the country’s pristine beaches, Antigua and Barbuda attracts thousands of foreigners every year with its exclusive economic zone (EEZ), which takes up over 111,568 square kilometers. The nation's currency, the Eastern Caribbean Dollar (XCD), is also pegged to the US Dollar at a fixed rate of 2.7 XCD to 1 USD, providing further economic stability.
In 2024, Antigua and Barbuda’s economy grew by 5.8%, primarily due to its booming tourism industry – which accounts for more than 50% of its GDP. Real GDP growth has remained positive since 2021 and is expected to continue into 2025.
Antigua Economic Activity
The country’s economic policies have also been geared towards attracting foreign direct investment, particularly in industries that create jobs and earn foreign exchange. The Antigua and Barbuda Investment Authority (ABIA) has identified tourism and related services (such as real estate and hospitality, yachting and maritime, agriculture and agro-processing, as well as business process outsourcing services) as priority investment areas.
This increasing focus on tourism and the subsequent development initiatives (luxury resorts and residential communities) will boost Antigua and Barbuda’s economy even more in the next couple of years, including the cost of living.
Additionally, the country is party to the Caribbean Community (CARICOM), the Organization of Eastern Caribbean States (OECS), the CARIFORUM-EU Economic Partnership Agreement, the CARIFORUM-UK Economic Partnership Agreement, and the Caribbean/Canada Trade Agreement (CARIBCAN), to further boost economic activity.
Antigua vs Other Caribbean Countries
Compared to other Caribbean nations, Antigua and Barbuda's cost of living is relatively moderate due to the expensive importation costs for goods and services, as well as the country’s high safety and living standards.
The absence of direct taxation on foreign personal income, capital gains, inheritance, or wealth can offset these expenses, however. The government has also signed bilateral investment treaties with Germany and the UK, as well as bilateral tax agreements with Denmark, Norway, Sweden, Switzerland, and the UK. There are double taxation agreements in place with the UK and UAE too. Altogether, the country has 22 Tax Information Exchange Agreements.
Affordable vs Expensive Areas
Within the country itself, costs can also vary significantly depending on the area you’re living in. Urban centers such as St. John's (the capital of Antigua) tend to have higher living expenses, offering convenient access to amenities, businesses, restaurants, and more. Consequently, renting or purchasing a property here can be expensive, and the prices of goods and services can be much higher due to more demand.
On the other hand, less developed areas or rural locations on the islands offer a more affordable lifestyle. Despite being further from the bustling capital, they offer the advantage of lower rent prices and a quieter, more secluded living environment.
The coastal regions of Antigua, especially those near beaches and resorts, are highly sought after by both tourists and residents, often carrying a premium price. The "big ticket" properties can be found in gated communities or luxury resorts located in the area.
Areas like Ciudad Vieja and San Miguel Dueñas are also seeing new developments, which provide more affordable investment options for projects still in progress.
Housing and Rent Costs in Antigua and Barbuda
One of the biggest expenses in Antigua and Barbuda is real estate, with property prices experiencing an annual growth rate of about 5% since 2019. This is largely driven by the country’s investment incentives, which promote buying properties as a means to gain citizenship or residency (like the Golden Visa).
Housing costs in the country are influenced by factors such as location, property type, and proximity to the coast. The average property price for a square meter is $1,680, but modern tourist apartments are currently going for $5,000 to $8,000 per square meter. For prime properties, the average is $5,640, but some luxury homes can go all the way up to $12,560 per square meter
According to online marketplaces for accommodations, the average rent in Antigua and Barbuda is $460 daily. The minimum is $36 per night to stay in a studio, and the maximum is $920 per day to rent a 4-bedroom villa. Longer-term leases are more affordable, however, with a one-bedroom apartment costing $1,000 per month in the city and $750 per month outside the city.
Properties that are under development see a 10% to 20% increase in price with each phase of construction that is completed. If you invest at the start of the development, for example, the property’s value could increase by 40% by the time it is done.
These high property prices – together with the annual growth rate and expected GDP increase – are perfect for investors looking for high returns. Additionally, no tax on rental income and low ownership taxes (0.2% to 0.5% of the property value) translate to further favorable returns.
Transportation Costs in Antigua and Barbuda
Public transportation in Antigua and Barbuda is limited, with public buses offering one-way rides for $1.40 or monthly passes for $33. This means many residents rely on private taxis to get around or purchase their own vehicles.
While the cost of a new mid-sized vehicle is comparable to international prices, it's essential to factor in gas prices, import duties, and taxes.
- A gallon of gas currently costs around $5. Fuel import costs are among the highest in the Caribbean and worldwide, accounting for nearly 13.7% of the country’s GDP.
- Imported vehicles are subject to a 15% value-added tax (VAT).
- A customs duty of around 60% is due, (depending on the car’s cost, insurance, and freight).
- Importers must also pay an Environmental Levy of $1,000 for vehicles under a year old, or $4,000 for older vehicles.
- The islands impose annual vehicle registration fees and insurance costs.
Groceries and Dining Out Costs in Antigua and Barbuda
The cost of food in Antigua and Barbuda is affected by the importation of goods, as many products are brought in from abroad. This is because the country is too small to scale its local agriculture and manufacturing industries.
Groceries Costs
Fruits such as bananas, papayas, pineapples, and mangoes are grown locally and tend to be reasonably priced (between $0.70 and $2). Fresh vegetables like tomatoes, cucumbers, and lettuce can also be found at affordable rates, especially if you buy directly from local markets or farmers' stalls (between $0.30 and $2). Basic staples like rice, bread, flour, beans, and milk are also reasonably priced (around $0.50).
Fresh seafood tends to be more affordable too, compared to many other international destinations. The cost of fish like snapper, mahi-mahi, and tuna is relatively low when compared to other imported proteins such as beef or chicken. Local seafood markets offer a wide variety of fresh fish, and you can expect to pay around $5 to $10 per pound, depending on the type of fish and availability.
According to Numbeo, the daily recommended minimum money you need for food is $14.32.
Dining Out Costs
When it comes to dining out, Antigua and Barbuda have various options, ranging from casual beachside eateries to upscale restaurants. The cost of dining depends on the type of establishment, the location, and the experience you’re after.
- Street Food: Street food vendors are located all over the island, offering local snacks, such as saltfish and fritters, for between $2 and $5.
- Casual Dining: Antigua offers many affordable options for those looking to experience local flavors and enjoy a more casual dining experience. Local restaurants often serve Caribbean dishes such as grilled fish or chicken with rice, vegetables, and salad, priced between $10 and $20 per person.
- Mid-Range: Often located in or near tourist areas or urban centers, mid-range restaurants offer a selection of international and fusion dishes. For around $20 to $35 per person, you can enjoy a three-course meal at one of these establishments. Prices can vary based on the quality of the food and the ambiance of the restaurant.
- Fine Dining: If you are looking for an upscale dining experience, particularly within or around luxury resorts, fine dining options are available. These restaurants typically offer gourmet meals prepared by internationally trained chefs and feature stunning views of the ocean, private beaches, or marinas. They also serve premium wines, seafood platters, and imported steaks that further drive up the price. A full-course meal can cost between $50 and $100 per person.
It is also important to note that dining costs in tourist-heavy areas of the country, such as Falmouth Harbour, English Harbour, or St. John’s, are generally higher compared to less frequented parts of the island.
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Healthcare and Education Costs in Antigua and Barbuda
Antigua and Barbuda offer essential healthcare and education services that cater to both residents and expatriates. While the public systems in both sectors are functional and accessible, many expats and investors prefer private options, which provide higher standards of care and more tailored educational opportunities.
Healthcare Costs
The healthcare system in Antigua and Barbuda is primarily free. The country is made up of six medical districts, each of which has a medical officer appointed to carry out medical treatment. There are 25 public health clinics in the country that provide medical services to residents, and health centers are located within three kilometers of each major settlement to deliver primary care.
A typical consultation with a private doctor costs between $40 and $80, whereas specialized treatments or procedures can be more costly. Diagnostic services like X-rays or MRIs, for example, may cost between $200 and $500. Comprehensive health insurance coverage is recommended to cover these expenses.
International health insurance plans, which often include coverage for medical evacuation to nearby countries like the United States in case of severe emergencies, are popular among expats. Annual premiums for these plans typically range from $1,000 to $3,000, depending on the coverage level, age of the insured, and any pre-existing conditions.
Pharmaceutical costs in Antigua vary, with local pharmacies offering standard medications at relatively affordable prices. The National Drug Formulary provides 380 different types of drugs to ensure patients with chronic conditions have access to the right medications. Imported or specialized medications, however, can be expensive due to shipping and importation costs. Residents often recommend purchasing certain medications in bulk or through international mail-order services to save money.
Education Costs
Education in Antigua and Barbuda includes public, private, and international schooling options. Public schools are free for residents, but expatriates often lean toward private or international schools for their children due to their global curriculums (including British, American, and Caribbean).
Tuition fees at private schools generally range from $5,000 to $15,000 per year, depending on the school, grade level, and any additional programs offered. Schools like the Island Academy International and the Antigua International School are popular choices among expatriate families.
There are also additional costs for uniforms, books, technology fees, and extracurricular activities to consider. Uniforms can cost up to $500 per year, while optional extracurricular programs (like music lessons, sports, or language classes) may add $500 to $1,000 annually to the overall educational expenses.
For higher education, the country is home to the University of the West Indies (Five Islands Campus) and the American University of Antigua College of Medicine. Tuition for the American University of Antigua College of Medicine, for instance, starts at approximately $20,000 per year.
Parents of younger children often consider daycare and preschool options, with costs ranging from $3,000 to $7,000 annually, depending on the facility and the programs offered.
Cost of Living for Families in Antigua and Barbuda
For a family of four, the average monthly cost of living ranges between $3,000 and $4,000. This amount excludes rent, but includes:
- Groceries: Between $800 and $1,000, depending on the mix of local and imported items you buy.
- Utilities: Monthly electricity, water, and internet costs range between $300 and $400. Air conditioning is a big part of this cost.
- Transportation: If you use public transport, your family can get a monthly transport pass for $33 per person, totaling $132.
- Healthcare: For routine doctor visits and private health insurance, families can expect to spend between $200 and $400 per month.
There is also a considerable cost that goes with entertaining yourself in Antigua and Barbuda, especially with so many tourist activities. This can add another $500 to your monthly expenses.
How Antigua’s Citizenship by Investment Program Can Help You
Antigua’s citizenship by investment program (established in 2014) is one of the many initiatives put in place by the government to draw investors to the destination. This program allows eligible investors to obtain citizenship through real estate investments, donations, or business ventures.
The real estate route lets investors gain ownership of luxury properties, some of which can be rented out to tourists or used as vacation homes. The country’s growing popularity as a tourism destination makes real estate a sound investment with steady returns. Owning property can also offset living expenses, as rental income helps cover costs like utilities, groceries, and transportation.
The program allows for the inclusion of dependents, such as spouses, children, and even parents or grandparents. For families, this simplifies the process of relocating and provides access to Antigua’s public services, including healthcare and education. This can significantly reduce costs for expat families who would otherwise pay premiums for private international schools or healthcare services abroad.
Mirabello Consultancy, which specializes in helping international investors navigate citizenship by investment programs, can help you navigate these choices to determine which housing, transport, and other living arrangements suit your budget best.
FAQ
Antigua’s citizenship by investment program provides investors and their families access to global mobility, tax advantages, and a high-quality life with world-class hospitals and educational institutions. Citizens enjoy visa-free or visa-on-arrival access to over 150 countries, including the Schengen Area and the UK, making international travel easier. Additionally, the country’s favorable tax regime includes no personal income tax, capital gains tax, or inheritance tax, which is appealing for wealth preservation. The program also extends citizenship to spouses, children, and even dependent parents and grandparents, ensuring long-term security for entire households.
An average retired couple may live comfortably on a budget of $2,000 to $2,500 a month, though individual lifestyles can vary.
Healthcare costs for expatriates in Antigua and Barbuda depend on the choice between public and private services. Public healthcare is free, but most expats choose private healthcare for the higher standards. Consultation with a private doctor costs between $40 and $80, whereas specialized treatments or procedures can be more costly (between $200 and $500).
Rental costs in Antigua and Barbuda vary based on location and property type. In urban centers like St. John's, a one-bedroom apartment in the city center may cost approximately $1,000 per month, while the same apartment outside the city center could be around $800 per month. Larger apartments and properties in coastal or high-demand areas may command higher rental prices.
