Which country is the most expensive: 10 Most Expensive Countries to Live In

are by no means the cheapest EU countries, although not the most expensive.

European Union

8. Denmark (84.12% of New York)

13. Luxembourg (80.50%)

1 6. Ireland (76.05%)

17. Netherlands (75.66%)

19. France (74.13%)

21. Finland (73.20%)

22. Belgium (72.61%) 9004 2

900 41 63. Czech Republic (48.24)

86. Poland (38.95%)

88. Bulgaria (38.38%)

102 Romania (35.24%)

It is noteworthy that expensive Denmark is still cheaper than New York, and the economic locomotive of the European Union, Germany, is in the middle of the list.

Living in the “cheapest” EU country, Romania, costs 0.02% more than living in the “most expensive” Russia in the former USSR.

Alliance

25. Canada (70.22% of the cost of living in New York)

26. United States (70.13%)

27. United Kingdom (69.65%) 9 0003

This year, the Atlantic allies managed to take three positions in a row. The cost of living in these countries varies within a percentage.

It is noteworthy that, on average, life in the US is 30% cheaper than life in New York.

Dynamic

More expensive than . Over the year, the United States has risen one point, living in Ukraine has risen in price by six, and in Russia by nine points.

Cheaper than . Life has become cheaper in the UK (minus 1 point), Poland (minus 8 points) and Moldova (minus 9 points).

Methodology

The secret of Numbeo’s success lies in the way it works.

The information base of the portal is filled in by users – Wikipedia works according to the same principle. Who now remembers that Britannica was once the most popular encyclopedia? Wikipedia has many more users than Britannica authors. For the same reason Numbeo in a relatively short period of time (the portal was founded in 2009Serbian mathematician and ex-Google employee Mladen Adamovich) began to provide information that cannot be found in open sources. Not only because such data is often closed or sold by subscription, but for the reason, first of all, that there is simply no other place than the Numbeo database.

Similar studies are usually carried out within individual countries. Researchers are not always able to estimate the cost of products / services in practice, by purchasing goods and services. Statistical agencies usually enter data manually, on a one-digit, one-digit basis. Increasing the scope of a research project is a significant increase in costs. Even if the studies are thorough, they take into account a limited number of localities in the country.

In addition, “classic” surveys are carried out in a limited period of time and do not take into account seasonal price fluctuations. Since the data is entered once, it is not possible to correct errors.

In other words, Numbeo offered a working mechanism that operates with monstrous amounts of information and allows you to track complex processes on a global scale.

Numbeo uses auto-configured filters that allow you to validate information received from users. Big data statistics work – the system ignores some data, because they can be considered as deviation, spam, etc. If messages that were originally marked as spam begin to be confirmed, Numbeo reconsiders the relationship and the data is taken into account.

Numbeo uses all the data to calculate the average data for a given country (these are the indicators used in this material). This approach has certain drawbacks, because, for example, as we have seen, the cost of living in the United States turned out to be 30% cheaper than the cost of living in New York. This point should be taken into account by those who are planning a trip / moving – in practice, life may turn out to be more expensive or cheaper than promised.

Practical value

“Cheap life”, as can be seen from the rating, does not necessarily indicate a low quality of life in the country. Other indicators should be taken into account, for example, the crime rate, the cost of rent, and so on.

It is interesting to consider the popular directions of emigration / residence permit / permanent residence in the context of several graphs.

You can draw your own conclusions.

90 296 39

9 0296 Dominican Republic

9Montenegro 90 299

* Safety rating is calculated based on user survey. Numbeo invites them to answer questions that are usually asked in similar questionnaires of government and international organizations. Data on crime, corruption and so on are taken into account. In some cases, according to the portal, the Numbeo rating is able to reflect more up-to-date information than data from government agencies, since users provide not only more complete, but also more relevant and uncensored data.

** Quality of life rating is calculated using a formula that takes into account purchasing power, pollution, housing prices and incomes, cost of living, safety, healthcare, traffic jams, traffic conditions, and climate data.

*** No data provided (data were not presented in a representative amount for all items).

Residence permit, permanent residence and citizenship

For questions related to obtaining a residence permit, permanent residence and citizenship, please contact our specialists.

In addition, on our website you can find up-to-date information about current immigration programs.

Full list of options, including countries not listed in Numbeo.

TOP-10 of the most expensive European countries

Table of Table of

• TOP5 European expensive countries
• Other expensive countries for living in Europe

,

• The most expensive countries of the world

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• And what about the cheapest countries for permanent life?
• Expensive or cheap? Choose a country

Worried about the high cost of rent and a consumer basket? Are you choosing a location for the optimal ratio of living expenses with security and a high-quality social sphere? We propose to consider the TOP5 of the most expensive countries in Europe for work and life, where consumers need to be prepared for fairly high prices. If you don’t like anything from our list, we suggest that you additionally familiarize yourself with the cheapest countries in the world with a comparative analysis of earnings.

Book a consultation with International Wealth experts to find the most suitable country for your family to move to.

The German statistical office Destatis has compiled a ranking of countries in Europe where the cost of living is higher than in Germany itself. TOP5 of the most expensive countries to live in Europe looks like this:

1. Switzerland.
2. Iceland.
3. Norway.
4. Denmark.
5. Luxembourg.

If you are considering moving to Switzerland, consider that it is the most expensive country to live in permanently, with a cost of living index of 122.4 in 2020, the highest in the entire world. For example, American New York, well known for its rather expensive life, scored 100 points in this index. The most expensive item of expenditure for the Swiss is the rent for housing, while the rental index for the country is 50.25. Switzerland has the most expensive restaurants and groceries, but in the whole world, rental housing is still inferior to Hong Kong.

On the other hand, the Swiss salary level allows them to cope with such financial burdens, which creates a good proportionality to purchasing power.

Learn in detail how to move to Switzerland permanently in 2022

Iceland and Norway are about the same in cost of living – the average monthly cost of living here is 2,365 EUR, with rent remaining the most expensive item. For example, a one-room studio in the capital of Norway is available for rent from 1060 EUR, and the daily fee for such an apartment varies within 75 EUR. In general, for these countries, rental housing may decline closer to the regions, but the cost of living index increases the New York index, and the most expensive expenses here are assumed to be food and recreation.

Denmark, located in Northern Europe, is considered one of the happiest and most prosperous places on earth, with an average monthly cost of 2,944 EUR. Only the rent for a one-room studio is approximately 1,700 EUR per month, and you can rent such an apartment for 85 EUR per day. If you prefer to eat out, prepare to spend at least 16 EUR per person, and a cup of quality coffee costs around 6 EUR.

Luxembourg is the smallest state in the TOP5 most expensive countries to live in Europe, with about 207 people per square kilometer. The average monthly expenses here are 2,446 EUR, of which approximately 1,175 EUR will have to be paid for a month of renting a one-room studio in the capital. If you look at such a luxury as coffee, then in Luxembourg a drink is more expensive than in the well-known high cost of living in the Bahamas – one cup will cost 5.33 EUR. Meals outside the home – about 15-16 EUR per person.

Other expensive countries to live in Europe

Following the top five in the ranking are:

• Sweden;
• UK;
• Germany;
• Netherlands;
• Austria.

If we compare the cost of living with Germany (it was her agency that conducted the study and made the rating), then the price interval, for example, in the Netherlands is + 7% compared to the cost of living of Germans, and in Austria and Belgium + 5%.

Interesting: Poland and the Czech Republic are marked as countries with a more favorable life than in Germany by 46% and 28% respectively, and the cost of living in Turkey is 64% lower compared to Germans.

However, there are countries in Europe where monthly living expenses are lower than in Germany. These are Bulgaria, Romania, Bosnia and Herzegovina (50% lower), Spain (-13%), Italy (-9%), Lithuania and Croatia (-36%). Of course, for the right choice of the country where you prefer to live permanently, it is necessary to take into account not only the cost of living – social infrastructure, medical care, education, security, political and economic stability remain very important factors. Additionally, you need to get acquainted with local legislation, in which our experts will always help. Depending on your preferences and wishes, we will help you choose a jurisdiction where your family will live and work as comfortably as possible for many years.

The most expensive countries in the world

And now let’s take a look at the most expensive countries to live outside of Europe:

1. Traditionally Bermuda leads the ranking – here the average monthly expenses are at least 4,500 EUR. This is the most expensive country in the world to live in, where you will pay about 2,380 EUR per month just for renting a one-room apartment (studio). And you can spend the night for 189 EUR. One dinner in a restaurant for one person costs 18-27 EUR, and a cup of coffee here costs almost 9EUR.
2. Life in Japan is also not cheap – the island country in Southeast Asia is considered the most expensive country to live in the world with an average monthly cost of 2,322 EUR. If you rent a one-room studio in the capital of Japan, Tokyo, or in major cities such as Nagoya, Sapporo or Osaka, get ready to pay 1,218 EUR per month or 98 EUR per day. But there is good news – given how expensive it is to live in Tokyo, a cup of coffee for a spaniel here is lower than in the Bahamas or in European countries – about 2.5 EUR.
3. Barbados in the Lesser Antilles is also on the list of the most expensive countries to live in – here you will have to spend approximately 1,832 EUR per person per month. To rent a one-room studio in Bridgetown for a month, get ready to shell out 444 EUR, and for a day you need to pay 89 EUR. That is, it is very unprofitable to rent housing here by the day, it is much cheaper to conclude an agreement for several months in advance. But a meal in a restaurant or cafe will cost one person no less than 11.5 EUR, and the cost of coffee here is at the level of Europe – about 4-5 EUR per cup.
4. The Cayman Islands are not cheap either – about 3,011 EUR will be your monthly expenses per family member. If you need accommodation in the capital of the state, Georgetown, get ready to pay at least 1,710 EUR for renting a one-room studio, and meals outside the home are similar to prices in the Bahamas – about 18-27 EUR per person. A cup of coffee here is available from 8.22 EUR.
5. Bahamas assumes a monthly cost of EUR 2,444. The state, consisting of more than 700 islands, assumes a rent of 844 EUR for a one-room apartment in the largest city of Nassau, and per day you will have to pay 132 EUR for a studio. Here, every consumer who prefers to eat out should bring a minimum of 80-90 EUR, since only a basic meal already costs 15-20 EUR.

Do you want to choose a country to move to? Check out the list of the best countries for permanent residence in 2022 and contact our experts for a personalized consultation.

What about the cheapest countries for permanent living?

Of course, we cannot ignore the cheapest states, where living is not as expensive as in Switzerland or Bermuda, but wages can be somewhat lower. Of course, each choice is purely individual and depends on a huge number of factors and data, especially in quarantine conditions. Therefore, if you need to migrate, ask for the help of our experts. And here we will consider those countries that offer fairly reasonable prices for food and housing with a good geographical location and a good climate.

Among them:

1. Portugal.
2. Mexico.
3. China.
4. Costa Rica.
5. Germany.
6. Bulgaria.

Portugal is traditionally in demand among foreigners as a country for permanent residence, including thanks to a special residence permit program for the purchase of real estate. With an excellent warm climate, the country boasts an influential culture, and a high standard of living here is successfully combined with a highly profitable national economy. The cost of living in Portugal is 57% lower than in New York (Lisbon is taken as an example), and the average salary here is 900 EUR. At the same time, you will pay about 350 EUR per month for renting a one-room studio in the capital, and even less if you live in Porto or Faro.

Many migrants are genuinely surprised to find the European country of Bulgaria among the places with the cheapest living. This is the best choice for those who are repelled by the high taxes of France and the rather serious prices of Italy. The Bulgarian state is considered one of the cheapest in Europe – with a modest budget, families can live here with dignity, and the central location provides excellent connections with Romania, Greece and Turkey. The most popular vacancies here are foreign language tutors and employees in the field of tourism, and renting a two-room apartment in the capital will cost only 205 EUR per month. Lunch at an inexpensive restaurant – about 4.5 EUR.

Costa Rica is traditionally popular among foreign migrants as a stable and prosperous country in Latin America. This progressive state assumes the cost of living at the level of 1,200-1,500 EUR per month per person, it is possible to live with dignity on a more modest budget. For example, a couple of people of retirement age with a total income of 2,200 EUR can feel quite chic in Costa Rica. In addition, there is a very large variety of affordable residential real estate in incredibly beautiful places.

China and Mexico are specific countries with rather interesting legislation and very low cost of living. Of course, China is not very popular in terms of working abroad, but wages here are much higher than other Asian countries. Already for 260-270 EUR you can rent a one-room studio here, and for about 2.7 EUR you can have a delicious lunch in a restaurant. About the same prices in Mexico – a cheap flight, the turquoise waters of the Caribbean Sea and the clean golden beaches of the Pacific Ocean are available here. At the same time, you spend from 170 to 440 EUR for a monthly rent of a one-room apartment in a large city and no more than 1 EUR for a set meal.

And for those who prefer European culture in the center of world art, we recommend Germany. On the one hand, this is a rather expensive country to live in compared to China or Bulgaria, on the other hand, there are decent salaries proportional to expenses. Over the past ten years, the state has become a wealthy European country with prices 10% lower than in the UK. For one person to live at a good level, 769 EUR per month is enough, excluding rental housing.

Expensive or cheap? Choose country

This material is only a comparison of some countries, including the most expensive ones for living in Europe and beyond, but in no case is a full-fledged legal advice. It is very important to consider the ratio of earnings to prices within the country in order to determine for yourself exactly where you would like to live. We are also guided by other indicators: security, healthcare and education systems, geographical location and climate, etc. Therefore, the choice of place of residence is strictly individual – someone is attracted to Thailand with its exoticism, others prefer to live permanently in the Alps. For those who are looking for the optimal combination of the level and cost of living with good salaries, we also recommend that you consider Thailand, Poland, Peru. Turkey, Canada. For more details, please contact our experts. We also fully support business and personal migration abroad.

Which countries are the most expensive to live in Europe in 2021?

Expensive means high quality – this is exactly the motto in the countries that are in the TOP5 of the most expensive countries in Europe. Among them are Switzerland (leader), Iceland, followed by Norway, Denmark and tiny Luxembourg. On the one hand, there is a very high cost of renting housing, both daily and monthly, on the other hand, citizens’ incomes are commensurate with the prices of basic consumer goods. In addition, these states are famous for their strong health and education systems, excellent infrastructure and favorable climate, as well as a high level of security.

Which countries outside Europe are expensive to live in?

Bermuda has been the most expensive country to live in the world for several years in a row. The cost of living here for 1 person is at least 5,000 EUR, and one cup of coffee is more expensive than in Switzerland. Following Bermuda, the Cayman Islands, Japan, Barbados, and the Bahamas suggest expensive accommodation.

Where is the cheapest life in the world?

If you prefer Europe, Portugal is popular all the time – foreigners appreciate the opportunity to live quite luxuriously here even with small salaries.