Most of you think that main reason of draining bank account is expensiveness in their country and migration to other country, where at least basic necessities are not much expensive, is the best way to live prosperous life but before having such thoughts and plans, you should exactly know whether your current country is amongst the most expensive country to live in or not. It is true that things have now become expensive due to scarcity of resources that causing difficulty for people to make both ends meet but it’s also a fact that countries with highest income per capita are expensive since people hold money to increase demand of goods and services as result of high demand price goes up. Likewise, countries with high living standard are expensive one.
Cost of living index is the tools that define the most expensive countries of the world by taking into account number of factors such as cost of rent, groceries, restaurant, transportation, utilities and local purchasing power. This index uses Consumer Price Index in which average prices of basic necessities for existence and survival, particularly food and shelter is considered while all data is compared with New York City’s cost of living which is taken as base.
Switzerland is the the most expensive country to live in followed by Norway,Venezuela and Iceland while India, Nepal, Pakistan are listed as the cheapest countries in the world.
Below are the 15 most expensive countries with the highest costs of living, according to Numbeo’s data.
- Switzerland – 126.03
- Norway – 118.59
- Venezuela – 111.01
- Iceland – 102.14
- Denmark – 100.60
- Australia – 99.32
- New Zealand – 93.71
- Singapore – 93.61
- Kuwait – 92.97
- United Kingdom – 92.19
- Ireland – 92.09
- Luxembourg – 91.78
- Finland – 89.68
- France – 88.37
- Belgium – 87.22
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