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CEOWORLD magazine - Latest - Special Reports - Most Expensive Countries In The World To Live In, 2024

Special Reports

Most Expensive Countries In The World To Live In, 2024

People

According to a report by CEOWORLD magazine, Switzerland has been declared as the most expensive country in the world to live in. The list of the top twenty nations with the highest cost of living includes nine European countries, five Asian countries, one North American country, one African country, two countries from the Caribbean, and two countries from Oceania.

Following Switzerland, Norway has secured the second position, and Iceland, Japan, Denmark, Bahamas, Luxembourg, Israel, Singapore, and South Korea are in the top ten. If you are looking for a relatively cheaper place to live, you might want to consider the United States (20th), the United Kingdom (27th), Saudi Arabia (57th), or Russia (82nd), which are ranked lower on the list.

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; Cost of Living Index; and 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 a score below indicates that it is cheaper. As a reference point, the average score for Germany was 65.26, making it the 29th most expensive country in which to live.

On the other side of the spectrum, the Islamic Republic of Pakistan is the world’s most affordable country, followed by Afghanistan, India, Syria, Uzbekistan, Kyrgyzstan, and Tunisia.

Most Expensive Countries In The World To Live In, 2024

RankCountryCost of Living IndexRent IndexCost of Living Plus Rent IndexGroceries IndexRestaurant Price IndexLocal Purchasing Power Index
1Switzerland122.450.2587.89120.27123.01119.53
2Norway101.4336.1570.2191.14109.2888.38
3Iceland100.4846.9574.8886.89113.7479.44
4Japan83.3525.9755.981.8248.9587.28
5Denmark8331.9258.5761.74100.75100.88
6Bahamas82.5136.3660.4362.6583.6654.18
7Luxembourg81.8954.9268.9969.189.85103.92
8Israel81.1531.3357.3266.3188.6578.09
9Singapore81.163.2772.5866.7558.9988.96
10South Korea78.1822.8651.7291.3144.8785.21
11Hong Kong77.2279.5778.3575.9454.3665.32
12Barbados76.0219.749.0865.268.1451.1
13Ireland75.9143.8860.5958.3581.2480.88
14France74.1425.3950.8267.972.5480.36
15Netherlands73.7535.1855.355.8780.4890.73
16Australia73.5434.8655.0467.2370.32107.31
17New Zealand72.5332.0953.1964.6968.892.66
18Belgium71.7825.4349.6158.6680.1486.28
19Seychelles71.5932.3452.8164.6184.8621.67
20United States71.0540.3256.3666.6170.74109.52
21Austria70.3826.8149.5461.7368.0982.38
22Finland70.2926.1649.1856.5276.8199.93
23Sweden69.8525.948.8360.4772.35101.73
24Canada67.6230.7349.9863.6863.5395.09
25Puerto Rico67.5419.2944.4665.7658.6879.38
26Malta67.4631.0450.0454.975.9446.32
27United Kingdom67.2829.8549.3851.2774.1391.73
28Italy67.2621.2245.2455.4472.3265.59
29Germany65.2627.0646.9949.2361.58102.36
30Macao64.8443.9854.876243.3780.9
31Qatar64.0447.4456.153.6166.83111.69
32United Arab Emirates61.9841.0751.9847.6361.3291.58
33Taiwan61.3716.4239.8771.5128.4965.67
34Lebanon60.524.5443.343.9258.1644.47
35Bahrain58.9430.9545.5548.1154.5557.88
36Cyprus57.9320.5440.0544.2163.1157.41
37Jamaica57.8215.2537.4658.9638.1232.37
38Greece55.6711.6834.6241.6353.7443.68
39Zimbabwe55.311.0234.1250.840.7926.03
40Palestinian Territory54.548.8332.6846.6738.9346.91
41Ethiopia54.3920.938.3736.319.378.34
42Panama54.1624.7640.0953.0347.2734.23
43Costa Rica53.9815.5535.649.643.5142.61
44Spain53.7721.7738.4642.3852.0772.03
45Trinidad And Tobago53.717.2636.2749.4349.8345.7
46Jordan53.6711.5433.5243.3247.1234.88
47Slovenia53.4317.0936.0543.7645.4366.31
48Mauritius53.0411.9933.4148.9443.9630.88
49Uruguay51.0414.4333.5340.1247.4137.46
50Estonia50.9315.4133.9436.5752.9471.3
51Kuwait50.3731.2141.2134.6847.0885.59
52Thailand49.7717.134.1449.224.935.45
53Croatia49.713.532.3839.942.4450.42
54Portugal49.5221.8136.2738.1442.4849.43
55Oman49.2817.9834.3143.544.2680.97
56Belize49.239.7430.3441.8937.0557.53
57Saudi Arabia48.3411.3930.6737.8933.51100
58Latvia47.9412.3430.9134.8542.8852.48
59Cambodia47.4914.931.944.5625.1911.29
60Fiji47.4818.5533.6452.6735.8733.17
61Czech Republic46.1519.5633.4338.1334.162.82
62El Salvador45.5713.4830.2243.6734.824.71
63Brunei44.7123.0834.3637.1138.0686.95
64Nicaragua44.567.6126.8841.7131.4123.92
65Slovakia44.4616.1130.937.5133.8256.94
66Lithuania44.2813.6529.6333.6342.757.85
67Dominican Republic44.0610.6228.0635.9338.2723.95
68Chile43.6213.3929.1636.4541.5742.5
69Cuba43.464.8424.9937.430.952.18
70Suriname43.147.7926.2345.7834.9822.39
71Namibia43.116.1230.1936.839.2255.65
72South Africa42.8716.6130.3133.2940.5873.61
73Guatemala42.715.2929.5937.413339.83
74Honduras42.1710.627.0733.3330.5530.26
75Myanmar42.1123.7833.3544.6819.0410.22
76Ecuador40.9811.9627.135.4630.6636.08
77Hungary40.8513.9727.9930.7734.4647.55
78Brazil40.2210.6526.0829.230.7832.81
79Kenya40.2110.7326.1135.3535.0627.32
80China40.0416.3828.7240.3729.1660.88
81Poland40.0415.6728.3830.5533.4559.61
82Russia39.2111.3625.8931.0839.6138.94
83Botswana39.1311.1225.7331.7439.9858.1
84Malaysia39.121125.6737.5822.9464.49
85Iraq39.0411.2825.7631.8532.7242.43
86Iran39.0114.4827.2835.5425.1222.69
87Somalia38.684.7522.4545.8827.0433.24
88Peru38.6512.7826.2833.824.6933.95
89Vietnam38.3413.5726.537.0619.5928.14
90Montenegro38.2310.3824.9128.6333.1639.8
91Ghana37.6519.4128.9337.1726.5914.66
92Philippines37.63923.9433.4620.8423.48
93Indonesia37.2710.6224.5237.3618.2525.05
94Bulgaria36.79.6423.7530.0929.1449.37
95Albania36.398.5523.0728.3926.7529.56
96Bosnia And Herzegovina35.976.7221.9728.0825.141.83
97Mexico35.7211.4624.1132.3932.1241.81
98Serbia35.729.0822.9825.4628.6336.72
99Romania35.3110.0523.2229.0330.548.86
100Tanzania35.2514.0425.1129.6622.5717.58
101Belarus34.710.523.1328.0638.9437
102Turkey34.696.7821.3429.7624.1640.85
103Bolivia34.5610.9323.2628.0925.1139.34
104Morocco34.328.9422.1830.1124.535.25
105Moldova33.78.421.625.9627.7927.57
106Rwanda33.3511.8823.0826.8329.1719.32
107Ukraine33.1810.4622.3126.0126.4231.8
108Argentina32.958.3321.1725.8230.5247.22
109Armenia32.8410.9122.3525.6130.4328
110Bangladesh32.255.0119.2229.7219.2133.21
111Zambia31.727.3920.0826.8622.0754.14
112Sri Lanka31.617.7420.235.0918.7624.45
113Macedonia31.596.4919.5824.9423.3137.15
114Paraguay31.19.6620.8525.0325.0132.6
115Nigeria3123.5927.4531.1517.7113.52
116Colombia30.669.5820.5825.0522.4431.12
117Kazakhstan30.649.7820.6624.3129.8738.36
118Uganda30.1810.1520.625.2522.1420.5
119Algeria30.15.3418.2630.7115.8928.69
120Azerbaijan29.929.4820.1523.7430.3630.2
121Egypt29.545.4918.0425.523.5322.41
122Nepal29.054.7717.4424.9120.3621.9
123Georgia28.489.819.5423.0526.6624.88
124Kosovo28.478.4718.9126.5321.0448.9
125Venezuela27.176.8117.4328.2924.412.61
126Tunisia27.045.5116.7425.2514.9534.45
127Kyrgyzstan26.979.1818.4623.3921.4524.98
128Uzbekistan26.017.5417.1821.5920.1724.31
129Syria25.315.6815.9222.4221.3811.46
130India24.585.6815.5424.5517.1754.3
131Afghanistan24.244.0314.5817.717.3828.2
132Pakistan (Islamic Republic of)21.984.5913.6619.0816.7830.57

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CEOWORLD magazine - Latest - Special Reports - Most Expensive Countries In The World To Live In, 2024
Despina Wilson
I am a senior editor and data journalist at CEOWORLD magazine. My job involves using infographics to report on news topics related to business and policy, with a global perspective. I hold a master's degree in journalism and have worked for newspapers and reporting projects in both the US and the UK, giving me a unique transatlantic perspective. I believe that data can enhance coverage of all news topics. As a contributor, I plan cover a wide range of issues, such as gender equality, climate change, labor, and immigration, using relevant statistics and insightful visualizations.

Email: despina@ceoworld.biz