Bermuda – Currency and Budgeting

Currency

Bermuda’s currency is the Bermudian dollar (BMD) and equivalent and interchangeable with the U.S. dollar. 

While you can pay with US dollar at most places but note, they may give your Bermudian back or you may get back USD. It will depend on the store and the cashier.

Tips are included in the price at restaurants.  You do not need add them in addition to your bill. What you see is what you pay.

There is a sales tax.  There is a rate of 25% for custom import duties but this tax will be included in the price shown. The price is in the price.

Budgeting

Bermuda is not a cheap place to visit.  It is beautiful, friendly and warm but not cheap. 

Where to stay

The most widely known hotels on the island are:
The Fairmonts – Fairmont Princess & Beach Club (Hamilton, average $500 to $650 CAD/night) and Fairmont Southampton (average $300 to $500 CAD/night with deals in the off-season for as low as $200 CAD/night.  They share their own private ferry between hotels for the best of the beach and city life.

Fairmont Southampton

The Reefs (average $400-500 CAD/night) has ocean views from every room with their own private beach.Coco Reef Resort (Average $400-$500 CAD/night) is located along the south shore right on the beach.

The Reefs

Newstead Belmont Hills Hotel (average $350-$550 CAD/night) is a more exclusive hotel with an 18 hole golf course and a full kitchen in each suite.

Grotto Bay Beach Resort & Spa (average $400-$500 CAD/night) is between St George’s and Hamilton with 21 acres along the water’s edge.

Since the start of Air BnB in Bermuda, there are many listings that are more reasonable pricing averaging $200-$300/night.

Cost of food

  • An average meal out for two people at a mid-range restaurant is $145 CAD.
  • A budget restaurant, a meal is $45-50 CAD per person.
  • Fast-food such fish and chips or a burger $20 CAD.
  • A beer or glass of wine is about $12.50 CAD.
  • Coffee is about $7-9 CAD.
  • Pop is about $5 CAD for 330 ml.
  • Water is about $3.50 for 330 ml bottle.
  • If you want to go to the grocery store to save money, expect to pay twice as much there as well. 1 litre of milk is about $4.30 CAD, a loaf of bread is $8.50 CAD, a dozen eggs are $5 CAD

Cost of transportation

Local transit for the bus and ferry are $3.50 to $5 USD each way cash price depending on distance and cheaper if you purchase tokens or tickets.  Day passes are available in 1, 2, 3, 4, and 7 day passes. 

See Getting Around for more information about local transit, taxis and hiring a vehicle.
For the cost of tourist destinations, see Things to Do and See.

Cost per day

Total budget – Expect to have $217 CAD/day for expenses.