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Montenegro vs Cyprus (Standard of Living)

Published: Monday, 21th October 2024

Recently Updated: Sunday, 12th January 2025

The Standard of living in Montenegro is 1.40 times lesser as compared to Cyprus.

In this page, you will find side-by-side Standard of Living comparison between Montenegro and Cyprus. 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 Montenegro and Cyprus.

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Economic Factors Comparison

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Indicators
Image illustrating an indicator
Pictorial representation of map of montenegro
Montenegro
Image illustrating the flag of montenegro
Pictorial representation of map of cyprus
Cyprus
Image illustrating the flag of cyprus
Gross Domestic Product (GDP)(2023)
Image representing the total Gross Domestic Product of any specific country
$7.058 billion USD$34.221 billion USD
GDP Per Capita
(2023)
Image representing the total Gross Domestic Product Per Capita of any specific country
11,338 USD37,149 USD
GINI Ratio
(2023)
Image representing the total GINI Ratio or GINI Coefficient of any specific country
0.330.29
Inflation on Consumer Prices
(2023)
Image representing the Percentage of Inflation on consumer prices of any specific country
8.58 % annually3.54 % annually
Central Government Debt
(2023)
Image representing the Central Government Debt of any specific country
Yet to Update91.7 % of GDP
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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 Montenegro is $7.058 billion USD and that of Cyprus is $34.221 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 Montenegro contributes less to the country's economy compared to a person working in Cyprus.

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Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of montenegro
Montenegro
Image illustrating the flag of montenegro
Pictorial representation of map of cyprus
Cyprus
Image illustrating the flag of cyprus
Human Development Index (HDI) (2024)
Image representing the Human Development Index of any specific country
0.8440.907
Human Capital Index (HCI) (2024)
Image representing the Human Capital Index of any specific country
0.630.76
Literacy Rate
(2023)
Image representing the Literacy Rate of any specific country
98.98% (15 years+ above age)99.36% (15 years+ above age)
Life Expectancy Ratio
(2023)
Image representation of Life Expectancy Ratio any given country
74.7 years81.9 years
Healthy Life Expectancy Ratio
(2023)
Image representation of Healthy Life Expectancy Ratio any given country
65.1 years70.7 years
Poverty Ratio
(2023)
Image representing the Poverty Rate of any specific country
21.2% of total Population13.9% of total Population
Unemployment Rate
(2023)
Image representing the Unemployment Rate of any specific country
15.25% of total labor force5.96% 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 Montenegro is [ 0.844 ] and the HDI of Cyprus is [ 0.907 ].

The data shows that the people living in Montenegro has lower income, life expectancy and education level compared to Cyprus.

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Government National Expenditure Comparison

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Indicators
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Pictorial representation of map of montenegro
Montenegro
Image illustrating the flag of montenegro
Pictorial representation of map of cyprus
Cyprus
Image illustrating the flag of cyprus
Gross National Expenditure
(2023)
Image representing the total Gross National Expenditure of any specific country
118.62 % of GDP100.92 % of GDP
Total Health Expenditure
(2023)
Image representation of total Health Expenditure of any given country
10.55 % of GDP9.43 % of GDP
Research and Development Expenditure (2023)
Image representing the Government Expenditure of any specific country
0.36 % of GDP0.83 % of GDP
Government Expenditure on Education (2023)
Image representing the Government Expenditure of any specific country
Yet to Update5.48 % of GDP
International Tourism Expenditure (2023)
Image representing the International Tourism Expenditure of any specific country
38 million USD880 million USD
Number of International Tourists Arrivals (2023)
Image representing the Number of International Tourists Arrival in any specific country
351,0004,117,000
Military Expenditure
(2023)
Image representing the Military Expenditure of any specific country
1.61 % of GDP1.81 (% of GDP)

The total Gross National Expenditure of Montenegro is 118.62% of its GDP and the total Gross National Expenditure of Cyprus is 100.92% of its GDP.

From the above data, we can say that Montenegro spends 1.18 times more of its GDP on Gross National Expenditure compared to Cyprus.

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Health System Facilities Comparison

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Indicators
Image illustrating an indicator
Pictorial representation of map of montenegro
Montenegro
Image illustrating the flag of montenegro
Pictorial representation of map of cyprus
Cyprus
Image illustrating the flag of cyprus
Number of Doctors
(2023)
Visual representation of number of Doctors in any specific country
27.7
(Per 10,000 People)
35.5
(Per 10,000 People)
Number of Nurses
(2023)
Visual representation of number of Nurses in any specific country
56.8
(Per 10,000 People)
46.3
(Per 10,000 People)
Number of Pharmacists
(2023)
Visual representation of number of Pharmacists in any specific country
2.34
(Per 10,000 People)
13.3
(Per 10,000 People)
Available Hospital Beds
(2023)
Visual representation of Available Hospital Beds in any specific country
3.86
(Per 1000 People)
3.4
(Per 1000 People)
Pregnant Women Receiving Prenatal Care (2023)
Visual representation of Pregnant Women Receiving Prenatal Care in any specific country
97.2 % of total Population99.2 % of total Population

Montenegro has 1.28 times less Doctors compared to Cyprus (Per 10,000 People).

Montenegro has 1.23 times more Nurses compared to Cyprus (Per 10,000 People).

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Environmental Factors Comparison

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Indicators
Image illustrating an indicator
Pictorial representation of map of montenegro
Montenegro
Image illustrating the flag of montenegro
Pictorial representation of map of cyprus
Cyprus
Image illustrating the flag of cyprus
Agricultural Land
(2023)
Image Depicting the total Agricultural Land available in any specific country
2,555.6 Sq Km1,231.35 Sq Km
Forest Area
(2023)
Image Depicting the total Forest Area available in any specific country
8,270 Sq Km1,725.1 Sq Km
CO2 Emissions
(2023)
Image Depicting the total CO2 Emissions from any specific country
0.19 kg per PPP $ of GDP0.18 kg per PPP $ of GDP
Access to Electricity
(2023)
Image Depicting the access of electricity in any specific country
100 % of total Population100 % of total Population
Access to Internet
(2023)
Image Depicting the access of internet in any specific country
88.22 % of total Population89.6 % of total Population
Annual Fresh Water Withdrawals (2023)
Image Depicting the annual freshwater withdrawals from any specific country
0.16 Billion cubic meters0.28 Billion cubic meters

100% of the total Population of Montenegro has access to the electricity in their homes, whereas, in case of Cyprus, 100% of the total Population has access to electricity.

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Business Registration Comparison

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Indicators
Image illustrating an indicator
Pictorial representation of map of montenegro
Montenegro
Image illustrating the flag of montenegro
Pictorial representation of map of cyprus
Cyprus
Image illustrating the flag of cyprus
Time Required to Start a Business (2023)
Image representing Time Required to Start a Business
12 Days6 Days
New Businesses Registered (2023)
Image representing New Businesses Registered
3,270 (New Businesses)11,053 (New Businesses)
New Businesses Registration Density (2023)
Image representing New Businesses Registration Density
8 (Per 1000 People)12.79 (Per 1000 People)
Cost of Business Start-Up Procedures (2023)
Image representing Cost of Business Start-Up Procedures
1.2 % of GNI Per Capita5.6 % of GNI Per Capita

In the year 2023, 3,270 new businesses got registered in Montenegro and 11,053 new businesses got registered in Cyprus.

It usually takes 12 days in Montenegro and 6 days in Cyprus to register a new business legally and systematically.

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Import & Export Factors Comparison

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Indicators
Image illustrating an indicator
Pictorial representation of map of montenegro
Montenegro
Image illustrating the flag of montenegro
Pictorial representation of map of cyprus
Cyprus
Image illustrating the flag of cyprus
Imports of Goods and Services (2023)
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69.3 % of GDP90.27 % of GDP
Total Fuel Imports
(2023)
Image representing Total Fuel Imports
10.36 % of Merchandise Imports22.43 % of Merchandise Imports
Cost to Import Border Compliance (2023)
Image representing Cost to Import Border Compliance
305.56 USD 335 USD
Time to Import Border Compliance (2023)
Image representing Time to Import Border Compliance
23.22 Hours14.67 Hours
Cost to Import Documentary Compliance (2023)
Image representing Cost to Import documentary Compliance
60 USD 50 USD
Time to Import Documentary Compliance (2023)
Image representing Time to Import Documentary Compliance
5.5 Hours2 Hours
Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of montenegro
Montenegro
Image illustrating the flag of montenegro
Pictorial representation of map of cyprus
Cyprus
Image illustrating the flag of cyprus
Exports of Goods and Services (2023)
Image representing Exports of Goods and Services
50.69 % of GDP89.35 % of GDP
Total Fuel Exports
(2023)
Image representing Total Fuel Exports
36.65 % of Merchandise Exports49 % of Merchandise Exports
Cost to Export Border Compliance (2023)
Image representing Cost to Export Border Compliance
85 USD300 USD
Time to Export Border Compliance (2023)
Image representing Time to Export Border Compliance
7.61 Hours18 Hours
Cost to Export Documentary Compliance (2023)
Image representing Cost to Export documentary Compliance
26 USD50 USD
Time to Export Documentary Compliance (2023)
Image representing Time to Export Documentary Compliance
5.41 Hours2 Hours
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Tax Factors Comparison

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Indicators
Image illustrating an indicator
Pictorial representation of map of montenegro
Montenegro
Image illustrating the flag of montenegro
Pictorial representation of map of cyprus
Cyprus
Image illustrating the flag of cyprus
Gross National Savings
(2023)
Image representing the total Gross National Savings of any specific country
15.71 % of GDP9.74 % of GDP
Tax Revenue
(2023)
Image representing the total tax revenue collection of any specific country
Yet to Update24.71 % of GDP
Taxes on Exports
(2023)
Image representing Taxes on Exports
Yet to Update0.1 % of Tax Revenue
Taxes on Goods and Services
(2023)
Image representing Taxes on Goods and Services
Yet to Update32.22 % of Tax Revenue
Taxes on International Trade
(2023)
Image representing Taxes on International Trade
Yet to Update0.02 % of Revenue
Time to Prepare and Pay Taxes (2023)
Image representing Time to Prepare and Pay Taxes
300 Hours119.5 Hours
Customs and Other Import Duties (2023)
Image representing Customs and Other Import Duties
Yet to Update0.03 % of Tax Revenue
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We hope you enjoyed the detailed guide on the standard of living comparsion between Montenegro and Cyprus.

For more side-by-side comparsion between Countries, States and Cities, you can use the search box above or click the links below.

The Comparedoo.com family sincerely appreciates your time with us. We look forward to seeing you on our other pages.

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