cost of living in hondurus

7/29/2019 cost of living in hondurus

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Country Overview

Honduras is considered to be a part of Central America, but

geographically it is a part of the North American continent.

Honduras borders the Caribbean Sea on the north coast and thePacific Ocean on the south through the Gulf of Fonseca. It mostly

lies between latitudes 13 and 17N (a small area lies south of 13,

and the Swan Islands are north of 17), and longitudes 83 and

90W.


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Country OverviewCapital: Tegucigalpa

Language: Spanish

Currency: Lempira

It became independent in 1821

Ethnic groups 90% Mestizo*mixture of European and American Indian.

Area Total - 112,492 km (102nd)

(BD 94th)


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Country Overview

Population: 8,296,693 (July 2012 est.) [Bangladesh-161,083,804 (July

2012 est.)]

Population growth rate: 1.838% (2012 est.) [Bangladesh-1.579%

(2012 est.)]

Religion: Roman Catholic 97%, Protestant 3%

Density: 64/km2 (128th) Bangladesh- 1,033.5/km2 (9th)

Literacy- total population: 80%

male: 79.8%female: 80.2% (2001 census)

[Bangladesh- total population: 56.8%

male: 61.3%

female: 52.2% (2010 est.)]


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Government

Conventional long form: Republic of Honduras

Government type: democratic constitutional republic.

[Bangladesh-parliamentary democracy]

Legal system: civil law system [Bangladesh-mixed legalsystem of mostly English common law and Islamic law]


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Temperature

Honduras is hot and humid almost year-round.

The average high temperature nationwide is 32C (90F).

In Tegucigalpa, the capital, the climate remains dry from Decemberto May and chilly between December and January around 23C

(73F). The best season to visit the country is during the dry season, from

December to May.


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Economic Condition

Honduras, one of the poorest countries in the WesternHemisphere with an extraordinarily unequal distributionof income.

While the country has met most of its macroeconomictargets, it failed to meet the IMF's goals to liberalize itsenergy and telecommunications sectors. Growth remainsdependent on the status of the U.S. economy.


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Economic Condition contd.

GDP (purchasing power parity): $37.67 billion (2012 est.) [Bangladesh-$305.5 billion(2012 est.)]

GDP - real growth rate: 3.8% (2012 est.) 2.8% (2010 est.) [Bangladesh-6.1% (2012est.)]

GDP - per capita (PPP): $4,600 (2012 est.)[Bangladesh-$2,000 (2012 est.)]

Unemployment rate: 4.5% (2012 est.) [Bangladesh-5% (2012 est.)] Population below poverty line: 60% (2010 est.) [Bangladesh-31.51% (2010 est.)]

Budget: revenues: $3.339 billion

expenditures: $4.044 billion (2012 est.)

[Bangladesh-revenues: $13.98 billion

expenditures: $19.62 billion (2012 est.)]

Inflation rate (consumer prices): 5.1% (2012 est.) [Bangladesh-8.8% (2012 est.)]

lempiras (HNL) per US dollar -19.51 (2012 est.) [Bangladesh-82.17 (2012 est.)]


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Infrastructure

Four International Airports: Tegucigalpa, La Ceiba, SanPedro Sula and Roatn

Three Important Ports: Puerto Corts, La Ceiba, Tela,Roatn, in the Atlantic and Amapala in the Pacific

Public Transportation: Taxis & Buses


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The capital - Tegucigalpa

It is located on hilly terrain hemmed in by mountains, at an elevationof 3,200 feet (975 metres) above sea level.

One of the few capitals in the world without a railroad, Tegucigalpadepends largely on the international airport at Toncontn.

The Tegucigalpa side of the District can be divided into fivesections: 1) Centro Histrico (Historic Downtown);2) CentroContemporneo orZona Viva (Contemporary Downtown or VibrantZone); 3) North Tegucigalpa; 4) South Tegucigalpa; and 5) EastTegucigalpa


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How to get there? Visa & Route to Honduras

Visa from Singapore

2 Adults & 1 Child (6 years old)

Minimum Time: 52 hours 4 minutes

Cost: L 113,965.04; BDT 453,076.70

3 Airlines: Emirates 585, Emirates 211, United 1434

Emirates 585: Dhaka to Dubai (5 hour 35 mins)

Stopover in Dubai: 8 hour 50 minutes

Emirates 211: Dubai to Houston (16 hours 35 minutes)

Stopover in Houston: 18 hours 15 minutes

United 1434: Houston to Roatan (2 hours 49 minutes)


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Accommodation

Dhaka TegucigalpaRent Per Month

Apartment (1bedroom) in CityCentre

15,000.00 19,653.72Apartment (1bedroom) Outside

of Centre

7,870.99 15,722.98Apartment (3bedrooms) in CityCentre

37,490.52 62,891.92Apartment (3bedrooms)Outside of Centre

23,612.97 43,238.20Buy Apartment

Price

Price per SquareMeter to BuyApartment in CityCentre

56,180.66 94,337.88Price per SquareMeter to BuyApartmentOutside of Centre

44,062.59 86,476.39


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Food

"Plato tpico national dish

Beef, marinated, diced, and barbecued on a skewer

Pork sausage, Pork crackling

Refried red kidney beans

White cheese (similar to Greek Feta cheese),Fried

plantain slices, Rice, Salad, Sour cream, Cheese.

Breakfast - scrambled eggs, beans and tortillas

Meal - rice, beans, tortillas, grilled chicken or beef, salad

Dessert - Tres Leches Cake


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Food


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Telecommunications

CONATEL- National Commission for Telecommunications

4 mobile telephone operator

Very limited in Rural Areas

News in Spanish

Twelve local TV stations


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Transportation

Bus service is available to various cities.

Taxi can be available in a hourly basis.

Taxis are not metered.

Sharing cabs with strangers is strongly discouraged. Rental car companies.


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Transportation

Dhaka Tegucigalpa


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Entertainment

Sight Seeing

Mayan Ruins at Copan

Bay Islands

Rainforests of the Mosquito Coast Dhaka Tegucigalpa


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Utilities

Dhaka Tegucigalpa


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Indexes Difference

Rent Prices in Tegucigalpa are 68.51% higher than inDhaka

Restaurant Prices in Tegucigalpa are 49.79% higherthan in Dhaka

Groceries Prices in Tegucigalpa are 3.84% higher thanin Dhaka


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Cost of Living


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Business Opportunities

Reasons to invest in Honduras:

1. Strategic location- between North and South America.

2. Modern infrastructure-Free zones, privatization, deep

water port- Puerto Corts3. Investment friendly government-Laws that protect andpromote foreign investment, provide export-orientedcompanies fiscal and legal incentives highly favorable toinvestment, permanent tax exemption in severalcategories


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4. Tax rate-

Bangladesh HondurasIncome Tax Rate 25% 25%

Corporate Tax Rate 27.5% 25%

Sales Tax / VAT Rate 15% 12%


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Business Opportunities Ease of doing business


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Growing business sectors:

1)Textile and Apparel Industry

Honduras has become Central Americas apparel production center

due to the many advantages it offers. Today, it is the third largest

worldwide clothing supplier to the U.S. market, and number one inthe region and the Caribbean.

Advantages:

Competitive costs in labor and logistics, among the

lowest in the region A flexible and highly skilled labor pool.


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2. Agribusiness

Some of the agricultural products include banana,coffee, sugar, cocoa and other variety of fruits andvegetables. Agribusiness and related sectors represent40 percent of the countrys GDP.

Advantages:

Low cost land

Competitive wage rates

Skilled and trained work force

Government support


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3) Tourism

Honduras has a growing tourism sector. Some investorsare identifying business opportunities in Honduras whichwas not possible few years ago. Eligible projects include

lodging and resort sites, recreational operators andfacilities, car rental agencies, and tour operators.

Advantages:

Government incentives law eliminating income taxes andtariffs on new tourism projects


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For Bangladeshi expatriates, working in all of theseindustries is possible because they have the necessaryknowledge about the relevant industries.

For establishing a business, Bangladeshis can go for

tourism industry because it does not require that much oftechnical knowledge. They can also go for agribusinessfor the production of cocoa.

Investing in textile industry might not be a good

investment because Bangladesh can produce clothes atmuch cheaper price.

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cost of living in hondurus