Published: Monday, 21th October 2024
The Standard of living in Cuba is 1.37 times lesser as compared to Bahamas.
In this page, you will find side-by-side Standard of Living comparison between Cuba and Bahamas. We have created 53 standard-of-living indicators. We average the values and ranges of all those indicators and take a mathematically calculated approach to determine which country has a better standard of living between Cuba and Bahamas.
 Indicators  | Cuba  | Bahamas  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $147.194 billion USD | $14.390 billion USD |
GDP Per Capita (2023)  | 13,128 USD | 35,257 USD |
GINI Ratio (2023)  | 0.38 | Yet to Update |
Inflation on Consumer Prices (2023)  | Yet to Update | 3.05 % annually |
Central Government Debt (2023)  | Yet to Update | 82.2 % of GDP |
Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced within a country in a specific time period, usually a year. It is used to gauge the economic performance of a country and indicates how wealthy and productive a nation is. In simple terms, GDP tells us how much a country is producing and how well its economy is doing.
As per the statistics from the World Bank Data for the year 2023, the total GDP of Cuba is $147.194 billion USD and that of Bahamas is $14.390 billion USD.
On the other hand, Gross Domestic Product (GDP) Per Capita is the average economic output per person in a country. Simply put, it shows how much, on average, each person contributes to the economy, giving an idea of the standard of living and economic well-being of the people in that country.
From the above data, we can say that a person living and working in Cuba contributes less to the country's economy compared to a person working in Bahamas.
Indicators | Cuba | Bahamas |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.764 | 0.820 |
Human Capital Index (HCI) (2024)  | Yet to Update | Yet to Update |
Literacy Rate (2023)  | 99.67% (15 years+ above age) | 96% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 73.7 years | 70.4 years |
Healthy Life Expectancy Ratio (2023)  | 64.6 years | 61.5 years |
Poverty Ratio (2023)  | Yet to Update | Yet to Update |
Unemployment Rate (2023)  | 1.16% of total labor force | 9.2% of total labor force |
The Human Development Index (HDI) is a measure used to assess the overall well-being and quality of life of people living in a country. The key dimensions that give a country good HDI rank are a long and healthy life, being knowledgeable and having a decent standard of living.
From the above given statistics, we can see that the HDI of Cuba is [ 0.764 ] and the HDI of Bahamas is [ 0.820 ].
The data shows that the people living in Cuba has lower income, life expectancy and education level compared to Bahamas.
Indicators | Cuba | Bahamas |
|---|---|---|
Gross National Expenditure (2023)  | 108.78 % of GDP | 101.1 % of GDP |
Total Health Expenditure (2023)  | 13.79 % of GDP | 7.14 % of GDP |
Research and Development Expenditure (2023)  | 0.32 % of GDP | Yet to Update |
Government Expenditure on Education (2023)  | 9.39 % of GDP | 3.09 % of GDP |
International Tourism Expenditure (2023)  | Yet to Update | 166 million USD |
Number of International Tourists Arrivals (2023)  | 1,086,000 | 1,794,500 |
Military Expenditure (2023)  | 2.88 % of GDP | Yet to Update |
The total Gross National Expenditure of Cuba is 108.78% of its GDP and the total Gross National Expenditure of Bahamas is 101.1% of its GDP.
From the above data, we can say that Cuba spends 1.08 times more of its GDP on Gross National Expenditure compared to Bahamas.
Indicators | Cuba | Bahamas |
|---|---|---|
Number of Doctors (2023)  | 94.3 (Per 10,000 People) | 18.5 (Per 10,000 People) |
Number of Nurses (2023)  | 75.7 (Per 10,000 People) | 43.8 (Per 10,000 People) |
Number of Pharmacists (2023)  | Yet to Update | 5.34 (Per 10,000 People) |
Available Hospital Beds (2023)  | 5.33 (Per 1000 People) | 2.96 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 99.1 % of total Population | 98 % of total Population |
Cuba has 5.10 times more Doctors compared to Bahamas (Per 10,000 People).
Cuba has 1.73 times more Nurses compared to Bahamas (Per 10,000 People).
Indicators | Cuba | Bahamas |
|---|---|---|
Agricultural Land (2023)  | 64,010 Sq Km | 130 Sq Km |
Forest Area (2023)  | 32,420 Sq Km | 5,098.6 Sq Km |
CO2 Emissions (2023)  | Yet to Update | 0.24 kg per PPP $ of GDP |
Access to Electricity (2023)  | 100 % of total Population | 100 % of total Population |
Access to Internet (2023)  | 71.12 % of total Population | 94.29 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 6.96 Billion cubic meters | Yet to Update |
100% of the total Population of Cuba has access to the electricity in their homes, whereas, in case of Bahamas, 100% of the total Population has access to electricity.
Indicators | Cuba | Bahamas |
|---|---|---|
Time Required to Start a Business (2023)  | Yet to Update | 11.5 Days |
New Businesses Registered (2023)  | Yet to Update | Yet to Update |
New Businesses Registration Density (2023)  | Yet to Update | Yet to Update |
Cost of Business Start-Up Procedures (2023)  | Yet to Update | 11 % of GNI Per Capita |
Indicators | Cuba | Bahamas |
|---|---|---|
Imports of Goods and Services (2023)  | 48.79 % of GDP | 42.96 % of GDP |
Total Fuel Imports (2023)  | 28.82 % of Merchandise Imports | 16.08 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | Yet to Update | 1,385 USD |
Time to Import Border Compliance (2023)  | Yet to Update | 51 Hours |
Cost to Import Documentary Compliance (2023)  | Yet to Update | 550 USD |
Time to Import Documentary Compliance (2023)  | Yet to Update | 6 Hours |
Indicators | Cuba | Bahamas |
|---|---|---|
Exports of Goods and Services (2023)  | 40.01 % of GDP | 39.75 % of GDP |
Total Fuel Exports (2023)  | 3.22 % of Merchandise Exports | Yet to Update |
Cost to Export Border Compliance (2023)  | Yet to Update | 512 USD |
Time to Export Border Compliance (2023)  | Yet to Update | 36 Hours |
Cost to Export Documentary Compliance (2023)  | Yet to Update | 550 USD |
Time to Export Documentary Compliance (2023)  | Yet to Update | 12 Hours |
Indicators | Cuba | Bahamas |
|---|---|---|
Gross National Savings (2023)  | Yet to Update | 16.09 % of GDP |
Tax Revenue (2023)  | Yet to Update | 16.43 % of GDP |
Taxes on Exports (2023)  | Yet to Update | 8.22 % of Tax Revenue |
Taxes on Goods and Services (2023)  | Yet to Update | 57.13 % of Tax Revenue |
Taxes on International Trade (2023)  | Yet to Update | 19.64 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | Yet to Update | 155 Hours |
Customs and Other Import Duties (2023)  | Yet to Update | 11.52 % of Tax Revenue |
We hope you enjoyed the detailed guide on the standard of living comparsion between Cuba and Bahamas.
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