Modified:2022-09-30  Published:2022-09-30  Views: 232
Author: n.paul
Published in: Geography
10 Most Expensive Countries To Live In

The expenses of living, surviving through life, is increasing along with the age of the earth. Starting from the price of space to the price of food, everything has seen hike in recent years, especially after Covid-19. Hence, if you are planning to move on to a different nation, then you should better have a hefty amount saved in your bank. You need to keep in mind that some counties may have cheap rent and cheap food but those can be quite expensive in other areas, such as for taxes and transportation.

Now, you might be wondering which are the nations that can show you a hard time in surviving. If you are thinking so, then you are at the right place. We have prepared this article for you detailing on the 10 most expensive countries to live in according to 2022 data.

In this article’s first section we will be discussing the cost of daily living along with the local purchasing power of the nation for establishing a better argument. In this regard it needs to be stated that the higher the overall cost of living gets, the lower purchasing power reaches. and this is how we have ranked some of the most expensive countries of the world, in a descending order.

The Netherlands

10. Netherlands

Index of cost of living

75.66

Local purchasing power

87.99

 

Table 1

The Netherlands is situated in Northwestern Europe along with Caribbean as overseas territories. The Netherlands possesses twelve provinces and has a total area of 41,865 square kilometres. The four largest cities of the nations are Amsterdam, the Hague, Rotterdam, and Utrecht. Amsterdam is known as the most populated city of the nation as well as the capital. The Netherlands is 5% more expansive than the US. The tax rates can cause nuisance as personal income tax rates can reach up to 49.5%. and this is how the nation takes up the 10th position in our list of expensive countries.

9. Qatar

Index of cost of living

62.81

Local purchasing power

93.67

 

Table 2

Qatar, officially known as the State of Qatar is situated in Western Asia. The total area of the nation is 11,581 square kilometres. Over 80% of the total population of the country reside in Doha, which is also the capital of the country. Rent of living in Qatar is an average of $1,441.02 per month. However, the grocery costs 15% lower than the US.

8. Canada

Index of cost of living

70.22

Local purchasing power

87.98

 

Table 3

Canada is situated in North America, which is also the second largest country of the world by total area. The total area of Canada is over 9.98 million square kilometres. The three largest metropolitan cities of the nation are, Toronto, Vancouver, and Montreal. Ottawa is the capital of Canada. If you live in Canada, then you can pay 43% less in rent than the US. However, the US residents are capable of enjoying a better purchasing power as the purchasing power in Canada is 18% than the US.

7. Lebanon

Index of cost of living

69.62

Local purchasing power

35.12

 

Table 4

The Republic of Lebanon is located in western Asia, it is also known as the second smallest country of Asia. Lebanon covers almost 10,452 square kilometres. The largest and the capital city of Lebanon is Beirut. The cost of living in Lebanon is almost half of the US. However, as you can see in the above table the purchasing power is very low, even lower than 50%, which makes it one of the most expensive counties to survive in.

6. Israel

Index of cost of living

88.05

Local purchasing power

75.58

 

Table 5

The State of Israel is located in Western Asia. The largest and the capital city of the nation is Jerusalem. However, the capital city is a subject of international dispute (as Palestine also claims the city to be their capital). The economic and technical centre of the nation is situated in Tel Aviv. Living in Israel is 18% more expensive than living in the US. The rent of living in the nation is $1,082.33 per month. The groceries are also 6% higher than the US.

5. Norway

Index of cost of living

100.9

Local purchasing power

83.11

 

Table 6

The Kingdom of Norway is situated in Northern Europe and has a total area of 385,207 square kilometres. The largest as well as the capital city of the country is Oslo. Norway is known for possessing the fourth highest per-capita income in the world. The rent of living in Norway is an average of $952.03 per month. However, you have to pay 27% more for groceries than the U.S.

4. Ireland

Index of cost of living

76.05

Local purchasing power

82.27

 

Table 7

Ireland is an island located in north-western Europe. It is the second most populated island of Europe. The largest city and the capital of Ireland is Dublin. Even though Ireland might not seem to be a country to be in the list, but it has almost 23% less purchasing power than the U.S. Nevertheless, the cost of groceries is about 8% lower than the U.S.

3. Iceland

Index of cost of living

94.86

Local purchasing power

77.06

 

Table 8

Iceland is a Nordic islandic country that has an area of 102,775 square kilometres. The largest city of the nation is Reykjavik, it is also the capital of the nation. Housing or rent is not the most expensive factor in case of living in the US. The average rate of a room rent is about $1,243.80. However, the food is quite expensive, it costs almost 20% more than the U.S.

2. Singapore

Index of cost of living

83.98

Local purchasing power

91.34

 

Table 9

Singapore is a country to be situated in maritime southeast Asia. The four primary languages of Singapore includes English, Malay, Mandarin, and Tamil. The capital city of the Republic of Singapore is Singapore.  The rent in Singapore is $1,908.42 per month. However, the cost-of-living in the nation is only slightly more than 6% higher than the U.S. average. And this is what makes Singapore one of the most expensive countries of the world to live in.

1. Switzerland

Index of cost of living

123.35

Local purchasing power

118.44

 

Table 10

Switzerland is situated in the western, central, and southern Europe. It is constructed with 26 cantons. The capital city of the nation is Bern, and the largest city is Zurich.  Switzerland has taken the top place in the list of the top 10 most expensive countries. The rent of living in the nation is only $1,516.83. However, the income tax can run up to 40%. Even if you are living in our own home, you are taxed. Although, the purchasing power that the Swiss residents enjoy is 12.1% more than the citizens of New York.

Switzerland

In the above section we discussed the top 10 most expensive nations based on the cost of living and the purchasing power. However, only discussing the most expensive countries based on one criterion does not conclude our research. For providing our readers with an extended information on the topic, we have prepared this next section to contain 10 more nations, which are expensive based on the living expense of a single person in the capital cities of the nations. The list of the nations are presented in descending order below.

10. Barbados

In number 10 it comes Barbados with an average cost of $2,061, which is a sovereign island nation situated in the Lesser Antilles of the West Indies. Renting one bedroom studio apartment can cost you around $500 per month. Or if you are ready to comprise and stay in Airbnb then it will be costing you around $100 per night. The cost of a basic meal can reach up to $13. A beer and a coffee cost around $6.50 and $5.00, which is based on the location you choose.

 

 

 

9. Japan

Japan is the 9th most expensive country with an average cost of $2,612 for one person. Japan is also one of the most popular nations for tourism, which is situated in south-east Asia. Tokyo is the capital city of the nation and if you want to rent a studio apartment in Tokyo, it will cost you around $1,370 per month. A night in Airbnb will cost you around $111. Hence, if you want to settle in Japan, you should start saving right away.

 

 

 

8. Norway

We find Norway again in our top ten list, this time it ranks as the eighth most expensive county with an average cost of $2,659. As it has been discussed in the previous section, living in Norway is very expensive. Renting a one-bedroom studio apartment will cost you around $1,193 per month. The Airbnb rate is lower, which cost you around $85 for each night. Buying a basic meal cost $15 and a beer costs $9.11.

 

 

 

 

7. The Bahamas

The Bahamas takes the 7th place in this list with an average of $2,704. Nassau is the largest as well as the capital city of the nation. Living in Nassau while renting a one-bedroom studio apartment will be costing you around $950 per month, which is less than the previously mentioned nations. $149 is the cost for a night in an Airbnb. The meals are quite expensive in the nation, which can have a costing of $15-$20 for a basic meal. A beer costs around $2.50 while coffees cost $5 for each cup.

 

 

6. Luxembourg

Luxembourg is located in western Europe and is the sixth most expensive country with an average cost of $2,751. It is situated in western Europe. You have to pay around $1,322 per month for renting a one-bedroom studio apartment in Luxembourg City. If you want to stay in Airbnb, then you can expect to pay around $80 for each night. A basic meal in the country can cost you around $17-$25, a beer costs around $9 and coffees are really costly with a cost of $6.

 

 

5. Iceland

Iceland comes in number 5 as one of the most expensive countries of the world with an average cost of $2,802. The country has already featured in the previous list too. If you want to rent a place in the capital city of Reykjavik, then you will have to pay a cost of $1,236 per month. A night in an Airbnb costs around $128. For a basic meal you will have to pay $12, $8 for a beer and around $2.15 for a coffee.

Living in Japan

4. Denmark   

The fourth most expensive country is Denmark with an average living cost of $3,312. Copenhagen is the capital city of the nation, which will cost you a solid $1,917 per month for a one-bedroom studio apartment. $96 is enough for a night in an Airbnb. A basic meal can cost around $18, while beers and coffees can range from $5.50-$6.50.

 

 

 

 

3. Switzerland

Switzerland lands on number 3 with an average cost of $3,162. According to the previous list, it is the most expensive nation in the earth. In Bern, you have to pay an amount of $1,366 for a one-bedroom studio apartment. For an Airbnb $86 each night is enough. For a basic meal you will have to spend up to $20 along with a beer for $6 and a coffee for $5.  

 

 

 

2. Cayman Islands

The second most expensive country to reside in is Cayman Islands with an average living cost of $3,387. Cayman Island is located just behind Bermuda. If you want to settle in George Town, which is the capital city of the nation, you will have to spend $1,924 a month for a one-bedroom studio apartment. A night in Airbnb will cost you around $83 per night. The cost of a basic meal is as high as $30, while beer costs $8 and coffee costs $7 per cup.

 

1. Bermuda

Bermuda features are the most expensive country for a single person with an average living cost of $5,011. Bermuda is a British territory that is situated in North Atlantic. The capital city of Bermuda is Hamilton, which has a population of only 1,000 people. Settling in Hamilton will cost you $2,675 per month for a one-bedroom studio apartment. Even Airbnb is very expensive, which is almost $212 per night. A basic meal can cost up to $30 along with a beer for $10.

Therefore, if your desired destination is located among any of the mentioned countries then you better start to plan out your expenses right away.

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