Bermuda: The Money

The Bermudian dollar is at par with the American dollar. You may pay with either. Most places will return your change in the currency you used, though it is perfectly acceptable to receive a mixture of both.

Like Canadian currency, their bills are very colourful and interesting. Bermuda uses coins, including a dollar coin, very similar to the Canadian loonie.

Unlike Canada, taxes of 12 or 13% were NOT added to goods purchased. So, if you wanted to buy a $15 t-shirt, you paid $15, NOT $15 plus tax.

Many people have said that it is expensive in Bermuda. As a Canadian, I found their prices to be "normal" or in the range of what we pay here at home. There are a few things to note when making comparisons. For example, if you have a $16 lunch in Manitoba, you will pay $16 plus taxes or $18.10. So, if the same lunch at a cafe in Bermuda is $20 but there are no taxes added, and you pay $20 isn't it pretty much the same as in Canada?

I could see, from an American perspective, that things could seem expensive. If you are used to fast food, an intensely competitive market with many choices, Chinese made goods in every store, and Wal-mart prices then YES, I could see a fair difference in cost. That isn't at all meant to sound disrespectful. The Canadian economy is different from the US and we too travel to the USA to acquire less expensive products and find our deals. But as Canadians who are "used to" paying more for things, and accepting high taxes, then prices in Bermuda (or any destination in the first world Caribbean) don't seem that different for us.

The economy is about supply and demand. In large countries like Canada and the United States that have vast agricultural land we are able to grow many of our own foods. Islands like Bermuda, Bahamas, Turks n' Caicos have to IMPORT a lot of the things that tourists expect. So steaks and sodas will be quite expensive as they are not grown or manufactured locally. Really quite logical.

If you are looking to appreciate the local culture, and save a bit of money, always look for the local specialties. Think "fish and rice" in the islands. Enjoy the local flavours and appreciate what is unique to the area. If you want the same steak and Pepsi you have at home, you are missing out on one of the very best aspects of travelling.

A hotel stay will cost you around $200 a night, very similar to the cities and resort areas of Canada. In the case of the Fairmont Southampton, many luxuries, like an area shuttle, private beach and private ferry service were included in the hotel fee. Very nice! This added so much value in my opinion.

As in all destinations, there are a variety of accommodations to choose from including home-stays, rental suites, chain hotels, private inns and more. Where you choose to stay is as personal as your travel style. Do you want luxury, or cultural experience? Do you expect beachfront or do you want a city loft? And there are always bargains, specials, sales and packages offered. You CAN find something in your price range.

If you wanted a souvenir t-shirt, there were plenty to be had. $15 would buy you a "Bermuda" emblazoned t-shirt, $20 a hat, or $5 for a handful of sea shells.  $15 for a bottle of rum and $40 for their duty free perfume.

The chance to experience another culture, in a safe and welcoming environment.... priceless. But I bet you already knew I would say that!