World Facts

Most Expensive Countries To Live In

Based on the consumer survey-generated Numbeo Cost of Living Indices, being Swiss comes at a price.

It used to be the case that moving to another country was as easy as packing your suitcase and renting a furnished house or apartment. Today, however, this is not the case. Any would-be immigrant or overseas employee first needs to factor in several variables before making such a move. First to be considered are the employment opportunities and living expenses. Afterwards, there are the work permits, passports, visas, and plane fares necessary to get to a new homeland. Other important things that need researching are the language requirements and the taxes there. An immigrant or overseas employee should also consider rent costs and food expenses as crucial items, while it is also important to think of the environmental climate and geopolitical conditions of a prospective new home.

Obviously, it is good to know which countries are the most expensive to live in, so that one can decide whether they are affordable enough to justify a move. For this reason, the countries that comprise the top 10 most expensive to live in are listed below. The reasons why these countries have higher living expenses could be one of many factors. Having high costs of importing goods, high minimum wages, high rental rates, export values, and high costs for basic goods are all common among these places. Some also have a tourist industry that drives prices to exceptionally inflated levels. Some countries allow for a legal monopoly on certain goods, and limited space for real estate also leads to extremely high costs of owning a house or renting an apartment. Obviously, an immigrant has to find a high-paying job to offset the high living costs in these countries.

10. Great Britain

Tenth is Great Britain, where prices are notoriously even higher than the national average in London. With its Consumer Price Index at 81.03, Rent at 36.29, Consumer Price Plus Rent Index at 59.53, Groceries Index at 68.48, Restaurant Price Index at 86.68, and Local Purchasing Power Index at 120.00, life in the UK can be very costly.

9. Kuwait

Ninth is oil-rich Kuwait, with its Consumer Price Index at 81.62, Rent at 38.26, Consumer Price Plus Rent Index at 60.78, Groceries Index at 96.13, Restaurant Price Index at 46.01, and Local Purchasing Power Index at 113.60.

8. Singapore

Eighth is crowded Singapore, with its Consumer Price Index at 83.67, Rent at 73.88, Consumer Price Plus Rent Index at 78.97, Groceries Index at 75.83, Restaurant Price Index at 53.75, and Local Purchasing Power Index at 110.50.

7. New Zealand

Seventh is New Zealand, with its Consumer Price Index at 78.17, Rent at 29.71, Consumer Price Plus Rent Index at 54.88, Groceries Index at 72.06, Restaurant Price Index at 75.37, and Local Purchasing Power Index at 115.47. Many New Zealanders must pay high prices for foreing goods due to the high shipping costs associated with purchasing them.

6. Australia

Sixth is Australia, with its Consumer Price Index at 78.45, Rent at 40.95, Consumer Price Plus Rent Index at 60.43, Groceries Index at 74.68, Restaurant Price Index at 74.85, and Local Purchasing Power Index at 147.25. This is partly offset by Australians' relatively high levels of personal income.

5. Denmark

Fifth is Denmark with its Consumer Price Index at 84.88, Rent at 30.83, Consumer Price Plus Rent Index at 58.90, Groceries Index at 69.20, Restaurant Price Index at 97.88, and Local Purchasing Power Index at 142.14. Denmark also has some of the highest taxes in the world.

4. Iceland

Fourth is Iceland, with its Consumer Price Index at 96.45, Rent at 35.45, Consumer Price Plus Rent Index at 67.13, Groceries Index at 91.40, Restaurant Price Index at 98.82, and Local Purchasing Power Index at 93.98. Public transportation is also very minimal in Iceland, so paying for gas and an automobile and its maintenance are financial considerations for those moving there.

3. Venezuala

Third is Venezuela with its Consumer Price Index at 60.02, Rent at 11.51, Consumer Price Plus Rent Index at 36.71, Groceries Index at 73.70, Restaurant Price Index at 47.09, and Local Purchasing Power Index at 14.27. Luckily, gas is a cheap commodity there relative to the rest of the world.

2. Norway

Second is Norway, with its Consumer Price Index at 99.80, Rent at 37.04, Consumer Price Plus Rent Index at 69.64, Groceries Index at 93.27, Restaurant Price Index at 110.77, and Local Purchasing Power Index at 125.75. Norweigians do, however, have a high level of access to comprehensive Nordic-style welfare and state-supported healthcare.

1. Switzerland

Switzerland tops the list of the most expensive countries to live in, with its Consumer Price Index at 123.10, Rent at 55.14, Consumer Price Plus Rent Index at 90.44, Groceries Index at 123.86, Restaurant Price Index at 119.14, and Local Purchasing Power Index at 178.74. The Swiss are known for their love of luxury items, such as fine homes, custom cars, and exquisite wristwatches. The Swiss are also known for the care they take to protect their natural Alpine ecosystems.

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