2024 Updated Price List on the Cost of Living in Ghana

Do you want to live in Ghana? The cost of living there is relatively low, especially if you’re used to living in Western countries. In this article, we’ll take a look at some of the typical costs you can expect to pay for food, transportation, housing, and other necessities in Ghana.

Brief History About Ghana

Ghana is a country located in West Africa. It is bordered by Ivory Coast to the west, Burkina Faso to the north, Togo to the east, and the Atlantic Ocean to the south. Ghana has a population of approximately 30 million people, and its capital city is Accra.

Ghana was formerly known as the Gold Coast, due to its abundance of gold resources. The country was colonized by the British in the 19th century and gained independence in 1957. Since then, it has become a relatively stable democracy, with a strong economy based on agriculture, mining, and tourism.

The cost of living in Ghana is relatively low compared to Western countries with necessities such as food and transportation being relatively affordable, and housing costs are also reasonable. However, some things can be expensive, such as imported goods and luxury items. Overall, Ghana is an affordable place to live.

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Ghana’s Gross Domestic Product

Ghana’s Gross Domestic Product (GDP) is one of the lowest in the world. In fact, according to the World Bank, Ghana’s GDP per capita was just $1,290 in 2017. That means that the average Ghanaian lives on less than $2 per day.

However, some people are much better off than others. The top 20% of Ghanaians earn about 60% of the country’s income. But even for those at the top, life is far from easy.

The high cost of living in Western countries can make it difficult to adjust to life in Ghana. But once you get used to it, you’ll find that it’s possible to live a comfortable life on a very tight budget.

Cost of Living in Ghana

We will see the different costs of living in Ghana:

  • Cost of Accommodation:

There are a variety of accommodation options available in Ghana, from hotels and guesthouses to apartments and houses. The price you pay will depend on the type of accommodation you choose and its location.

For example, a hotel room in Accra, Ghana’s capital city, will cost around $30 per night. A guesthouse room in the same city will cost around $15 per night. And an apartment in Accra can be rented for as little as $200 per month.

If you’re moving to Ghana with family or friends, you may want to consider renting a house. Prices for houses vary depending on their size and location, but you can expect to pay around $500 per month for a three-bedroom house in Accra.

  • Cost of Feeding:

One way to save money on food is to cook at home. Basic ingredients like rice, beans, and chicken are relatively cheap in Ghana. You can also find fresh produce at local markets. If cooking isn’t your thing, there are plenty of affordable restaurants in Ghana as well.

Another way to save money on food is to eat local dishes. These are typically very cheap and can be found at street stalls or small eateries. Ghanaian cuisine is usually quite spicy, so it’s not for everyone. But if you enjoy spicy food, you’ll be able to find some great deals on meals in Ghana.

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  • Cost of Healthcare:

In Ghana, the cost of healthcare is relatively low compared to Western countries. You can expect to pay around $20-$30 per visit to a doctor or dentist. For more serious medical problems, you may need to go to a hospital, which will cost more. However, overall, the cost of healthcare in Ghana is quite affordable.

  • Cost of Transportation:

The cost of transportation is relatively low, especially if you’re used to living in Western countries. Here are some of the typical costs you can expect to pay for transportation in Ghana:

  • Taxi: Taxi fares in Ghana are very reasonable, and you can usually find a taxi for less than $5.
  • Bus: Bus fares in Ghana are also very reasonable, and you can usually find a bus for less than $2.
  • Train: Train fares in Ghana are slightly more expensive than bus fares, but they’re still relatively affordable. You can expect to pay about $5 for a train ticket.
  • Plane: Plane tickets in Ghana are not as expensive as you might think. You can usually find a round-trip ticket for less than $200.

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  • Cost of Utility:

In Ghana, the cost of utilities is affordable. This is due, in part, to the fact that the country has a lot of natural resources, such as oil and gas. Additionally, the government has put in place policies to keep the cost of living low for its citizens. For example, it has capped the price of water and electricity. As a result, the average person in Ghana spends only about $10 per month on utilities.

  • Cost of Insurance:

Health insurance is a necessity in Ghana, as the quality of healthcare is not as high as in Western countries. You can expect to pay around $50 per month for health insurance. You may also want to consider getting travel insurance, as Ghana is a relatively safe country but there are always risks when traveling. Travel insurance will typically cost around $5 per day.

  • Cost of Entertainment:

If you’re thinking of moving to Ghana, or are already living there, you might be wondering about the cost of entertainment. There are a variety of options available, and the cost will depend on your personal preferences.

If you like to go out to bars and clubs, you can expect to spend around $5-10 per night. If you’re looking for something more low-key, there are plenty of cafes and restaurants where you can get a meal for under $5. For those who prefer to stay in, there are a variety of options for entertainment, including streaming services like Netflix and Hulu, which start at around $10 per month.

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Food and transportation costs can be higher than in other parts of the world, so it’s important to factor those into your budget. Additionally, housing costs can vary depending on where you choose to live. But overall, Ghana is a great place to live and an affordable option for many people.

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