I was practically glued to the TV last week when the events in Mumbai happened; couldn’t believe what I was seeing. Hard to get in front of a computer again, didn’t feel like posting anything at all about long-term traveling in India.
But then, isn’t that what those terrorists tried to achieve? To paralyzing the country and make an economical impact? Most people in this thread on the IndiaMike Forum, discussing the repercussions of this hatred, agree that they want to continue traveling to India.
So I will follow their example and won’t stop recommending it. Read on for a “Cost of Living Chart” for living in Goa, India:
This is done again in the tradition of the following charts:
I updated the currency exchange rates for those above as well, so you can have a direct comparison. What’s interesting also is that the Exchange Rates of Indian Rupee and Philippine Peso are pretty similar in Dollar and Euro, making for an easy direct comparison.
The prices aren’t updated this time, as it’s hard for me to verify from a distance.
As well there are some prices I couldn’t find out yet here in Goa. Anyway – just bear in mind that prices go up all the time and some items aren’t available in every place.
While India is certainly one of the cheapest countries regarding Purchasing Power Parity (read: how much bang you can get for your buck), the state of Goa is one of India’s most expensive places. Simply because it’s the most famous with tourists (locals and international ones alike).
As well it’s very dependent on the monsoon season, you basically only have a short season of 6-8 months, where the place is up and running at all. That is a big difference to an island like Bali, which sees plenty of visitors all year round, although a bit fewer in the rainy season.
With the monsoon and torrential rains coming full swing here in Goa, the whole place shuts down basically from June/July to early October every year. That means the restaurants, hotels and other businesses have less time every year to earn their living.
Maybe that’s another reason why prices here were heavily on the rise over the last couple of years.
Still, the whole state of Goa is very affordable for the Western or 1st World Traveler. Food and drinks are surprisingly cheap and generally of very high quality.
The prices listed here refer to the main touristy area around Calangute/Candolim, they might be lower for locations further away, depending on type of products (local/imported) and your bargaining power.
Without further ado, here are the numbers:
The official inflation rate in India is currently above 11%, although the Reserve Bank of India is targetting a mere 4.1%. Obviously the rise of commodity prices like oil, food and energy made that target impossible to reach this year.
Good for you – if you earn your money in a country with less inflation and your base currency is stable or appreciating, you still save more or spend less over a year – even with rising prices in Rupees.
Would you like to see additional items or expenses in this list?
Please let me know via the Comment Form and I will update the spreadsheet accordingly.
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