Cost of Living in Namibia - How Expensive is Namibia

Cost of Living in Namibia DISCLAIMER : For Copyright Matters please Contact us directly.... Email Address [email protected]. Thanks Hello Displorers, welcome to another informative video presented to you by Displore and thanks for watching. The housing, transportation, education and health cost of any country is a great indication of the cost of living of any country. The cost of living in Namibia is the reflection of the quality of life shown in how much is spent on housing, transport, education and health. That is why in this video, we shall examine the cost of housing, transportation, education and health in Namibia to determine cost of living in the country. But first we need to understand what cost of living really is. The cost of living is the amount of money needed to cover basic expenses such as housing, food, taxes, and healthcare in a certain place and time period. The cost of living is often used to compare how expensive it is to live in one city or country versus another. The cost of living is tied to wages in that if expenses are higher in a country, salary levels must be higher so that people can afford to live in that country.The cost of living can also be a significant factor in personal wealth accumulation because a salary can provide a higher standard of living in a city where daily expenses such as rent, food and entertainment are less but in contrast, a high salary can seem insufficient in an expensive country either ways such. That is why to get a full perspective of the cost of living in any country, the wages or salaries need to be taken into account hence, let’s look at the wage range in Namibia. If you are new here, welcome, be sure to subscribe and turn on notifications so you don’t miss any of our videos. An Overview The cost of living in Namibia is very high as Namibia imports about 50% of its cereal requirements. Many other items used in daily life also need to be imported. High transportation costs make prices very high and unaffordable. Monopoly in some business sectors causes higher profit booking, which also results in raising of prices. For example, the price of electricity for domestic consumers in Windhoek for post-paid consumers will include a per unit added with ECB levyper unit and NEF Levy per unit as well. A Fixed Cost based on the load is added to the bill and the Minimum amount is $7.68. the price for 1 litre of water is around $1.01, 1 litre of UHT milk is around $1.01, 1 kg of fresh chicken is around $3 and beef will cost around $6.72 per kg. The cost of making an international call other than neighbouring country is $0.81 per min and internet access is quite expensive. Salaries in Namibia A person working in Namibia typically earns around $1,169 per month as salaries range from $296.16which is the lowest average to $5,232the highest average but actual maximum salary is higher.This is the average monthly salary including housing, transport, and other benefits and salaries vary drastically between different careers. The median salary is$1,169 per month, which means that half of the population are earning less than $1,169 while the other half are earning more than $1,169. If your salary is higher than both of the average and the median then you are doing very well but if your wage is between the average and the median, then cost of living in Namibia. The experience level is the most important factor in determining the salary as well as educational level.Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a certificate or diploma.Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job. Accommodation in Namibia Accommodation is the most expensive part of living in Namibia from hotels to apartments. You can pay around $100 a night in low season for hotel, and up to double that when the tourists arrive. Namibia is experiencing a housing crisis and is putting up strategies currently to reduce the problem. Increasing demand escalates prices, meanwhile the country’s rapid urbanization maintains a steady influx of low wage earners from rural areas seeking better opportunities in urban areas. The