Q.3 2022

LATAM Data Points

A Selection of AIRINC Research Results

This quarter’s cost of living research was conducted primarily in North America, Central and South America, the Middle East, Africa, and maritime Southeast Asia-Pacific. This page lists the results for Latin America; please visit Data Points for the global results.

Housing Update

Snapshots of expatriate-quality rental markets in Latin America
Venezuela

Venezuela

Venezuela is battling with staggering but expected inflation. This has filtered down to expatriate rental markets, with rising costs for everything related to property maintenance and upgrades. While the supply of expat housing isn’t necessarily limited, the demand for the best quality and most secured properties has been robust.

Goods and Services Inflation

Selected locations with inflation higher than 5% for 6 months
Argentina
Bahamas
Barbados
Brazil
Chile
Colombia
Costa Rica
Cuba
El Salvador
Guatemala
Haiti
Honduras
Mexico
Nicaragua
Paraguay
Puerto Rico
Suriname
Venezuela

Selected 3-month Exchange Rate fluctuations of more than 5%

Argentina

Currency: ARS

Change vs EUR: -9.5%

Change vs USD: -14.2%

Chile

Currency: CLP

Change vs EUR: -1.6%

Change vs USD: -6.7%

Colombia

Currency: COP

Change vs EUR: -6.8%

Change vs USD: -11.6%

Costa Rica

Currency: CRC

Change vs EUR: 13.1%

Change vs USD: 7.2%

Dominican Republic

Currency: DOP

Change vs EUR: 8.7%

Change vs USD: 3.2%

Jamaica

Currency: JMD

Change vs EUR: 7.1%

Change vs USD: 1.7%

Mexico

Currency: MXN

Change vs EUR: 6.1%

Change vs USD: 0.6%

Suriname

Currency: SRD

Change vs EUR: -14.3%

Change vs USD: -18.8%

Venezuela

Currency: VES

Change vs EUR: -29.1%

Change vs USD: -32.7%

Country
Tax Update

Changes in expatriate tax

Barbados

Suriname

Barbados

Barbados introduced a Pandemic Contribution Levy equal to 1% of income exceeding BBD 75,000 annually or BBD 6,250 monthly. The levy is intended to be temporary, applicable for the 12-month period April 1, 2022 to March 31, 2023. The levy is not deductible for regular income tax purposes. The net effect is an increase in tax for higher incomes. Social security is unchanged.

Suriname

The temporary COVID-19 solidarity surcharge of 10% on taxable incomes exceeding SRD 150,000 has expired. This reduces the top marginal tax rate from 48% to 38%. The net effect is a decrease in tax for all incomes.

Research Location Update

Q.3 2022 Researched Locations and Upcoming Q.4 2022 Locations

AIRINC researches more than 150 locations each quarter; please visit Data Points for the global results.

Q.3 2022 Researched Locations
Q.4 2022 Upcoming Locations

White Papers & Articles

Mobility Optimization Paper

In this period of transition and reinvention, many companies are reorganizing their Mobility functions to address changes to their business or talent environments. We recently interviewed six Mobility leaders to learn how they are optimizing their Mobility functions. Everyone agreed that an optimized Mobility function is one that adds value to the organization by offering customers the right balance of skillsets and resources.

White Papers & Articles

Developmental Assignments & the Importance of Knowing Your Audience

Many mechanics of a developmental assignment are like that of a traditional expat assignment. Tax equalization, immigration support, and a COLA are commonly provided for both move types. However, developmental assignments target a specific type of employee: emerging talent, typically below age 35, that shows growth potential to the business.

Benchmark Surveys

2022 Mobility Outlook Survey

Global Mobility has emerged from the pandemic as a remarkably different function. After a second year managing travel restrictions, heightened immigration complexity, and remote work consequences, Mobility has honed its compliance skills and is shifting focus to address its next big challenge – helping attract and retain top talent.

White Papers & Articles

2022 Remote Work Playbook

In our first version of this playbook published in 2020, it was not clear if the rise of remote working would continue or only be a temporary pandemic phenomenon. It is now clear that remote work is here to stay.

For More Information

Please contact your Client Services representative for more details and further information.

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