How much does it really cost to live, work, or travel in ? Here's what to expect for daily expenses and expat living.
Currency Guide for Cape Verde (CV)
Traveling to Cape Verde can be a delightful experience, and budgeting for your stay will help you make the most of your time in this stunning archipelago. For a 1-week mid-range trip, a traveler should expect to bring around 800 to 1,200 CVE (Cape Verdean Escudos) or the equivalent in a major currency like the USD. Here's a close look at some typical daily expenses in Cape Verde:
- 🍽️ Meal at a local restaurant: 1,000 - 1,500 CVE
- 🚌 Public transport fare: 300 - 500 CVE
- 📱 Prepaid SIM card: 1,500 - 3,000 CVE
- 🏨 Budget hotel or Airbnb: 3,000 - 5,000 CVE per night
Overall, Cape Verde is generally considered an average destination in terms of costs compared to global standards. When compared to the United States, visiting Cape Verde is slightly cheaper, especially for dining out and local transportation. In contrast, it may be similar in expense to traveling in the UK, where costs for meals and accommodations tend to be notably higher.
Expats Living in Cape Verde
For expats considering a move to Cape Verde, understanding the typical monthly living costs is essential. On average, a comfortable lifestyle may require between 50,000 to 70,000 CVE, depending on personal preferences and lifestyle choices. Essential expenses include rent, utilities, food, and transportation, which can vary based on location and housing type.
When it comes to banking and financial transactions, using local banks for everyday transactions is advisable, although many establishments accept cards, particularly in tourist areas. It’s wise to keep some cash for smaller vendors or markets. Using online transfer services like Wise or OFX can often yield better exchange rates and lower fees compared to traditional banking methods. However, it's generally advisable to withdraw cash from ATMs or exchange a small amount locally for daily expenses while relying on online services for more substantial transfers.