Friends often ask me why I live in Azerbaijan. Reasons are quite simple:
Regarding living cost, have a look at following USD/AZN exchange rate history. After independence from Soviet Union, this country's economy has relied on oil export, however due to oil price slump for the past several years, Azerbaijan had to depreciate their currency. USD/AZN was 0.78 as at Feb-2015, but the rate was depreciated to 1.7 as at May-2018. Just within 3 years, the value of AZN becomes less than half. In 2017, International Bank of Azerbaijan, the largest bank, called default of their USD3.3bn debt. This country is under currency crisis, but it may be good news for foreigner. Foreigners who have foreign currencies can enjoy their life by much cheaper cost! Below chart is a comparison of living cost + rent of global cities (by Numbeo). This is an relative index number vs. New York (=100). Based on the data, Baku's cost of living + rent index is just 20, almost same with Delhi, India. Obviously, Baku is one of the cheapest capital in Eurasian Continent. So how's daily life? It is OK, I think.
First of all, Baku is a safe city. Homicide rate per 100,000 population is 2.45 (2014), which is world 141th, almost same level with European countries. You don't feel any danger even in midnight. No robber and no violence at all. If you come from countries with higher crime rate, you will feel the value of safety life. Baku is being urbanized rapidly. To attract tourists / expats, many museums or sports facilities are established in Baku. Baku's next ambition is to hold 2025 EXPO, which may be possible as Baku still survives in final candidates list. You will not have big problem in your daily life in Baku. You can buy any foods in supermarket, you can go anywhere by bus and metro, you can see football math via cable TV, you can have FTTH and 4G internet access, you can buy foreign brand fashion in shopping malls, and you can enjoy nice Russian or Georgian restaurants! If you are an entrepreneur, Baku should be an interesting place to launch your business. Although, this country has problem in economy / currency and inflation is headache for local people, all in all, Baku is growing. Population is increasing year by year and appetite for property investment is super strong. People are addicted to new foreign goods / services. Not a big market, but I think there still be many niche and growing blue ocean opportunities in the emerging country.
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About meHi, I'm Usami, an Asian expat living in Baku, Azerbaijan. Feel free to contact me, if you have any question. |