Most Expensive Countries To Live In 2020

The cost of living can be expensive. Paying for necessities like housing, power, water, groceries, clothing, and gas for your vehicle can really add up. But in some nations, the cost of living is very expensive, making it a struggle for many hardworking individuals and families to make a living.

Various studies and surveys have been performed to determine which countries are the most expensive to live in. One such survey was conducted by MoveHub. This survey took several factors into consideration, including the price of groceries, utility bills, rent, and transportation. Then, the countries were compared to a benchmark – the city of New York, which is notoriously expensive.

In this survey, four countries exceeded the benchmark. The Cayman Islands have a cost of living index of 141.64, making it the most expensive country to live in. Rent and utilities are among some of the most expensive costs compared to other countries.

Bermuda is the second most expensive country with a score of 138.22. The capital city of Hamilton is deemed to be one of the most expensive cities in the world where a 900 square foot apartment costs US$4,058 per month.

The third most expensive country is Switzerland. Switzerland’s cost of living index is 122.67 and high grocery prices are a large factor in the score.

In fourth place is Norway, which had a score of 104.49. Norwegian wages are high and the disparities in income are much smaller in Norway than they are in the United States. People in the service industry, education, and areas of the public sector all earn living wages. Furthermore, Norway has a very progressive system of taxation that imposes some of the highest taxes in the world but provides free universal health care and free college to its citizens.

Country Cost of Living Index Population 2020
Cayman Islands141.6465,722
Bermuda138.2262,278
Switzerland122.678,654,622
Norway104.495,421,241
Iceland97.22341,243
Bahamas85.96393,244
Japan85.52126,476,461
Luxembourg84.68625,978
Denmark83.885,792,202
Barbados80.32287,375
Singapore80.235,850,342
Israel79.548,655,535
Hong Kong79.217,496,981
Ireland76.334,937,786
Netherlands75.2217,134,872
South Korea75.1651,269,185
France74.6265,273,511
Australia73.3925,499,884
Belgium73.1311,589,623
New Zealand73.014,822,233
Seychelles72.7598,347
Finland72.185,540,720
Austria72.159,006,398
United States70.95331,002,651
Sweden70.1110,099,265
Italy69.0260,461,826
Canada68.1637,742,154
Puerto Rico66.812,860,853
Germany66.5783,783,942
Malta65.43441,543
United Kingdom65.3367,886,011
United Arab Emirates63.589,890,402
Qatar62.222,881,053
Libya61.256,871,292
Lebanon59.746,825,445
Taiwan58.7723,816,775
Cyprus58.391,207,359
Bahrain58.361,701,575
Greece56.7210,423,054
Jamaica56.442,961,167
Ethiopia55.52114,963,588
Jordan55.3610,203,134
Costa Rica55.095,094,118
Uruguay54.913,473,730
Spain54.7446,754,778
Zimbabwe54.7214,862,924
Trinidad And Tobago54.171,399,488
Slovenia54.172,078,938
Panama52.984,314,767
Mauritius51.61,271,768
Estonia50.991,326,535
Portugal50.7710,196,709
Kuwait50.334,270,571
Croatia50.054,105,267
Thailand49.8669,799,978
Fiji49.67896,445
Latvia49.551,886,198
Chile49.1519,116,201
Belize49.06397,628
Saudi Arabia48.7134,813,871
Oman48.555,106,626
Myanmar48.0654,409,800
Cambodia47.8216,718,965
El Salvador47.696,486,205
Dominican Republic46.1710,847,910
Nicaragua45.876,624,554
Czech Republic45.710,708,981
Lithuania45.412,722,289
Slovakia44.655,459,642
Mozambique44.6531,255,435
Brunei44.33437,479
Namibia44.12,540,905
South Africa43.7459,308,690
Ghana43.1131,072,940
Guatemala43.0417,915,568
Brazil42.64212,559,417
Honduras42.349,904,607
Ecuador41.9917,643,054
Cuba41.7311,326,616
Hungary41.79,660,351
Iran41.3983,992,949
China40.541,439,323,776
Iraq39.8440,222,493
Suriname39.58586,632
Malaysia39.4632,365,999
Poland39.3837,846,611
Botswana39.372,351,627
Montenegro39.37628,066
Kenya39.2653,771,296
Peru38.8232,971,854
Argentina38.7245,195,774
Russia38.59145,934,462
Vietnam38.1797,338,579
Bulgaria37.376,948,445
Philippines36.97109,581,078
Indonesia36.86273,523,615
Albania36.632,877,797
Serbia36.38,737,371
Bosnia And Herzegovina36.193,280,819
Romania36.0719,237,691
Turkey35.6684,339,067
Zambia35.4918,383,955
Tanzania35.0759,734,218
Morocco34.5936,910,560
Mongolia34.433,278,290
Mexico34.29128,932,753
Bolivia34.0711,673,021
Rwanda34.0112,952,218
Paraguay33.327,132,538
Belarus33.029,449,323
Sri Lanka32.9521,413,249
Armenia32.72,963,243
Moldova32.634,033,963
Bangladesh32.62164,689,383
Nigeria31.75206,139,589
Uganda31.7245,741,007
Ukraine30.9443,733,762
Nepal30.6929,136,808
Algeria30.5443,851,044
Colombia30.2550,882,891
Kazakhstan30.0618,776,707
Azerbaijan29.8110,139,177
Egypt29.09102,334,404
Kyrgyzstan28.136,524,195
Georgia27.783,989,167
Venezuela27.2228,435,940
Uzbekistan25.7933,469,203
Tunisia25.4311,818,619
Syria25.3117,500,658
India25.141,380,004,385
Afghanistan24.5138,928,346
Pakistan18.58220,892,340