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Saturday, December 7, 2019

Business Education

Most Expensive Countries In The World To Live In, 2019

Switzerland is officially the most expensive nation on earth to live in, according to a report from the CEOWORLD magazine. European countries were prominent on the most expensive list, of the top-twenty nations, twelve were in Europe, four in Asia, one in North America, one in the Caribbean, and two in Oceania.

Iceland ranks second in the list of the world’s most expensive countries to live, followed by Norway, Bahamas, Luxembourg, Japan,
Denmark, Hong Kong, South Korea, Ireland.

On the other side of the spectrum, the Islamic Republic of Pakistan is the world’s most affordable country to live in, followed by Tunisia, India, Venezuela, Egypt, Uzbekistan, and Ukraine.

Should none of those appeals, a little further down the list you’ll find Mexico (97th), Argentina (96th), the Philippines (91st), Russia (88th), and Indonesia (84th).

To identify the world’s most and least expensive countries to live in, CEOWORLD magazine collected and reviewed data from dozens of studies; consumer price index; Numbeo Cost of Living Index; numerous national; and international media reports. CEOWORLD magazine based its assessment on a range of living costs, such as accommodation, clothing, taxi fares, utility, internet, the price of groceries, transport, and eating out. The rankings are based on five major metrics: cost of living, rent, groceries, eating out and purchasing power.

These data are then compiled into an index, using the notoriously expensive city of New York City (NYC) as a benchmark. New York was given an index score of 100.

So a country with a score higher than 100 is more expensive than New York, while below signals that it is cheaper. As a reference point, the average score for Germany was 67.62, making it the 23rd most expensive country in which to live.

Most Expensive Countries In The World To Live In, 2019

RankCountryCost of LivingRentCost of Living Plus RentGroceriesEating outPurchasing Power
1Switzerland121.1650.2587.11120.81123.09129.7
2Iceland101.8648.2876.1392.1111.8591.8
3Norway100.9937.2870.492.67111.53103.61
4Bahamas92.433.4964.1176.9799.9257.01
5Luxembourg86.0955.6471.4775.196.08106.26
6Japan83.3327.9756.7583.5848.75103.12
7Denmark81.3832.9158.1163.6295.14114.39
8Hong Kong78.1476.8377.5180.356.0869.34
9South Korea76.9322.2350.6689.744.84103.4
10Ireland75.3541.859.2459.182.6595.09
11France74.8526.2551.5168.3175.3791.55
12Netherlands74.8334.7455.5858.883.49102.54
13Israel74.2829.4252.7461.9280.8392.48
14Belgium72.9725.8150.3260.8683.495.09
15Finland72.8226.1450.460.0277.91112.3
16New Zealand72.6231.6452.9465.7168.78101.09
17Australia72.0835.554.5266.970.69122.85
18Austria71.7927.6350.5865.6370.0896.7
19Sweden71.5526.0549.763.4575.04111.38
20United States69.9138.9855.0667.4469.33122.03
21Singapore69.7953.161.7757.4846.75103.77
22Italy69.2521.6846.458.3475.7277.49
23Germany67.6226.8548.0454.2763.56116.2
24United Kingdom65.2828.647.6651.8572.37105.73
25Canada65.0128.3247.3962.3761.81109.44
26Puerto Rico63.8417.9641.8161.6654.8298.39
27Malta63.3228.6846.6951.2367.2859.67
28Taiwan59.8423.3742.3369.6126.8856.36
29Qatar59.0946.5653.0747.7261.95138.29
30Jamaica58.814.7437.6458.8442.2634.69
31Lebanon58.0626.9243.1143.2856.7953.97
32Uruguay57.3116.2137.5745.1156.2847.77
33Bahrain56.7129.5643.6751.1652.2174.61
34Greece56.6610.834.6443.6954.7649.57
35United Arab Emirates56.1640.9848.8743.1653.88119.6
36Cyprus55.5720.2338.644.3259.7675.29
37Jordan54.9811.8734.2844.4352.2841.73
38Spain54.720.7338.3944.0254.1383.8
39Slovenia52.5115.3634.6743.2743.8375.38
40Mauritius52.4411.5332.847.8939.1439.77
41Myanmar52.3824.7239.0954.7620.2413.98
42Trinidad And Tobago52.0717.1335.29504656.97
43Zimbabwe51.5711.6732.4145.7436.8127.65
44Kuwait51.4832.9442.5839.8847.35102.01
45Panama51.4524.6338.5748.2147.0641.34
46Ghana51.1331.5741.7444.7631.7418.7
47Estonia51.0115.3833.937.0651.2475.97
48Fiji50.9322.737.3857.6336.4635.44
49Costa Rica50.8915.4833.8947.9142.5847.13
50Portugal50.3921.0736.3140.243.1355.19
51Palestinian Territory50.2930.4143.937.3357.17
52Belize49.458.8129.9342.8636.6670.85
53Latvia49.2312.0231.3636.6545.4755.16
54Croatia49.1811.631.1340.3340.3660.33
55Chile47.7315.2232.1240.5545.1554.13
56Saudi Arabia47.6111.430.2239.0630.93118.59
57Thailand47.5417.7133.215024.6340.86
58Cambodia46.814.4431.2644.1524.4412.46
59Oman46.219.8933.5740.0244.4188.47
60El Salvador46.1114.1930.7845.5735.5530.09
61Lithuania45.9112.930.0635.3643.9560.34
62Nicaragua45.839.5428.446.3631.1424.52
63Czech Republic45.1218.2732.2338.0833.2571.32
64Slovakia44.9816.1331.1338.533.6463.24
65Dominican Republic44.9210.2128.2535.6842.4326.02
66Namibia43.2217.4630.8539.9238.5963.6
67Brazil42.811.4627.7531.334.8537.43
68South Africa42.4916.530.0133.8840.7982.97
69Honduras42.110.7627.0533.5731.5235.22
70Hungary42.0313.6428.432.3633.4354.66
71Ecuador41.9811.6127.437.8729.4340.84
72Guatemala41.7413.9328.3938.0232.2841.79
73Cuba40.58.1124.9534.328.292.47
74Iraq39.6211.4626.134.131.8547.61
75Montenegro39.619.9525.3730.7534.2546.28
76Malaysia39.3810.9225.7139.722.7573.14
77China39.2417.3628.7339.9328.1868.95
78Poland39.1314.9227.530.6632.7270
79Kenya38.2110.0524.6933.2331.2232.46
80Vietnam37.713.125.8837.8718.8933.33
81Bulgaria37.179.1523.7231.1529.8652.18
82Peru37.1711.9625.0632.6923.6837.47
83Romania36.451023.7529.8832.2661.16
84Indonesia36.248.4322.8838.1418.0232.95
85Albania36.178.2122.7428.5929.3433.81
86Iran35.816.9226.7332.6326.8837.74
87Bosnia And Herzegovina35.726.3221.628.8123.7849.18
88Russia35.5212.6824.5529.183745.38
89Serbia35.398.0822.2726.327.8439.9
90Turkey35.217.2321.7830.4523.6545.33
91Philippines35.098.0922.1232.6119.6729.46
92Tanzania34.7416.0325.7628.5925.1522.71
93Bolivia34.3710.8823.0926.927.9644.05
94Morocco33.989.4822.2129.8523.8541.4
95Belarus33.129.962227.7735.9844.64
96Argentina33.099.4821.7526.2532.555
97Mexico32.7110.0621.8330.330.2349.98
98Armenia32.519.921.6525.7732.5333.06
99Paraguay32.279.3821.2826.0325.7535.57
100Moldova32.267.9720.624.9727.7130.75
101Bangladesh31.835.4419.1629.5218.9739.82
102Macedonia31.586.4719.5224.8523.6739.83
103Nigeria31.2528.9730.1531.7619.215.13
104Algeria30.565.5118.533216.3832.93
105Uganda30.258.5119.8126.0921.922.72
106Sri Lanka30.247.5719.3633.5717.3627.34
107Colombia30.159.1720.0724.3322.4634.66
108Kazakhstan29.839.7820.223.7529.8338.83
109Nepal29.634.617.6125.419.7426.28
110Azerbaijan29.128.7219.3224.0830.6732.01
111Georgia28.788.5319.0523.3927.0933.19
112Ukraine27.949.5319.122.4722.1432.72
113Uzbekistan27.118.2718.0623.921.1425.09
114Egypt26.465.0116.1623.1922.2623.67
115Venezuela25.735.8916.227.5821.983.71
116India24.175.8415.3724.217.1566.91
117Tunisia23.694.9614.6922.2713.3337.99
118Islamic Republic of Pakistan20.44.512.7618.2515.4238.61

Cost of Living in New York City (NYC):

  • New York City (NYC) has a cost of living index of 100.00.
  • Four-person family monthly costs: $4,600 without rent.
  • A single person monthly costs: $1,400 without rent.

Rent Per Month:

  • Apartment (1 bedroom) in City Centre: $3,200
  • Apartment (1 bedroom) Outside of Centre: $2,000
  • Apartment (3 bedrooms) in City Centre: $6,500
  • Apartment (3 bedrooms) Outside of Centre: $3,400

Eating out:

  • Meal, Inexpensive Restaurant: $20
  • Meal for 2 People, Mid-range Restaurant, Three-course: $80
  • Cappuccino (regular): $4.47
  • Water (0.33 liter bottle): $1.77

Groceries:

  • Milk (regular), (1 liter): $1.18
  • Loaf of Fresh White Bread (500g): $3.95
  • Rice (white), (1kg): $6.44
  • Eggs (regular) (12): $3.36
  • Chicken Breasts (Boneless, Skinless), (1kg): $13.37
  • Beef Round (1kg) (or Equivalent Back Leg Red Meat): $15.44
  • Apples (1kg): $6.54
  • Oranges (1kg): $5.7
  • Tomato (1kg): $5.87
  • Onion (1kg): $3.07

Transportation

  • One-way Ticket (Local Transport): $2.75
  • Monthly Pass (Regular Price): $121.00
  • Taxi Start (Normal Tariff): $2.50
  • Taxi 1km (Normal Tariff): $1.86
  • Gasoline (1 liter): $0.80

Utilities (Monthly)

  • Basic (Electricity, Heating, Cooling, Water, Garbage) for a 85 square meters apartment: $150
  • Internet (60 Mbps or More, Unlimited Data, Cable/ADSL): $62

Others:

  • Childcare: preschool or Kindergarten, Full Day, Private, Monthly for 1 Child: $2,400
  • 1 Pair of Jeans: $53
  • 1 Summer Dress in a Chain Store: $40
  • 1 Pair of Running Shoes (Mid-Range): $87
  • 1 Pair of Men Leather Business Shoes: $130

Salaries: Average Monthly Net Salary (After Tax): $4,600

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Alexandra Dimitropoulou
Deputy executive editor at the ​CEOWORLD magazine. Writer, internet person, professional restaurant recommender, and native New Yorker. Passions: health & wellness, coffee, running & dogs.
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