Expensive abroad? Comparison of Spain and Great Britain! Article for understanding cost of living

Expensive abroad? Comparison of Spain and Great Britain! Article for understanding cost of living

The average cost of living in Spain is 900 euros per month. This includes rent, utilities, food and drinks. If you are moving to Spain, you need to know daily cost of living in your new home. In this article, Stephen will help you explore daily cost of living in Spain compared to UK, including rent, shopping and salaries. Before you book a trip to Spain and enjoy long days of hot weather and an incredible Mediterranean diet, it's worth knowing if your new life is possible.

How much money do I need to live in Spain?

If you include rent, utilities, food and drink for one person, living in Spain will cost €900 per person per month.

Of course, this cost depends a lot on where you live and your lifestyle. For example, living in capital or another popular area, renting a big house, and eating out every night will cost you more than somewhere cheaper and less luxurious.

Comparison of cost of living in Spain and UK

Spain has long been known for having a much lower cost of living than in UK. The overall average cost of living in Spain is 18.2% cheaper than in UK as a whole. The large region contributes to this as rents in Spain are on average 33.19% lower than in UK.

Lower cost, more expats

This is one of reasons many Britons move to Spain in search of a better quality of life financially. In fact, latest figures from Spanish National Statistical Institute (INE) show that total number of British citizens registered to live in Spain in 2016 was 296,600. This testifies to popularity of Spain as a destination for expats.

Cities in Spain

Even when comparing major cities such as Madrid and Barcelona with similar UK cities such as London, cost of living reduction is still noticeable. Statistics from Numbeo, for example, show that life in Madrid is 24.31% lower than in London and 21.8% lower in Barcelona overall.

Health care in Spain

In UK, things work differently than in UK when it comes to healthcare. The NHS in UK is paid for by taxpayers and is free for any UK citizen or UK citizen who has right to live in country. Spain has a similar system for those who can work normally, it deducts costs of healthcare system from your salary, so it's free to use. For those who cannot work or are ineligible for any reason, you may need additional health insurance.

Spanish taxes

Spain has high taxes compared to UK. For example, you can earn £11,500 in UK tax-free. Employees in Spain must pay taxes on all their income. In practice, amount you pay depends on your income. For example, you will pay 19% for any amount up to €12,450 and then increase from 24% to 45% of your income (beyond that).