Most Expensive Countries To Live In 2021

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The cost of living can be expensive. Paying for necessities like housing, power, water, groceries, clothing, and gas for your vehicle can 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 considered several factors, 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, five countries exceeded the benchmark:

  1. Bermuda - 144.88
  2. Switzerland - 131.39
  3. Iceland - 123.96
  4. Norway - 113.07
  5. Bahamas - 100.68

Bermuda is the most expensive country, with a score of 144.88. 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.

As evident in the next three countries, Western Europe is significantly more expensive than Eastern Europe. The second most expensive country is Switzerland. Switzerland's cost of living index is 131.39, and high grocery prices are a large factor in the score. All types of food in Switzerland cost around 78% more than the rest of the European Union.

Iceland is the world's third-most expensive country, with a cost of living index of 123.96. Because Iceland is an island, almost all goods need to be imported through flights or shipping. Consumer prices in Iceland are about 66% higher on average than prices in Europe. Iceland has many perks to weigh out its price, including consistently ranking as the world's safest country.

In fourth place is Norway, which had a score of 113.07. Norwegian wages are high, and the disparities in income are much smaller in Norway than 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 taxation system that imposes some of the highest taxes in the world but provides free universal health care and free college to its citizens.

The Bahamas is the world's fifth-most expensive country with an index of 100.68, just above New York's. Monthly rent for a 480 square foot studio can cost as much as $2,091 per month. The estimated monthly expenses for a family of four is $6,191.

Most Expensive Countries To Live In 2021

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Most Expensive Countries To Live In 2021

Country Cost of Living Index 2021 Population
Cayman Islands141.6466,497
Bermuda138.2262,090
Switzerland122.678,715,494
Norway104.495,465,630
United States Virgin Islands97.23104,226
Iceland97.22343,353
Bahamas85.96396,913
Japan85.52126,050,804
Luxembourg84.68634,814
Denmark83.885,813,298
Barbados80.32287,711
Singapore80.235,896,686
Israel79.548,789,774
Hong Kong79.217,552,810
Ireland76.334,982,907
Netherlands75.2217,173,099
South Korea75.1651,305,186
France74.6265,426,179
Australia73.3925,788,215
Belgium73.1311,632,326
New Zealand73.014,860,643
Seychelles72.7598,908
Finland72.185,548,360
Austria72.159,043,070
United States70.95332,915,073
Sweden70.1110,160,169
Italy69.0260,367,477
Canada68.1638,067,903
Puerto Rico66.812,828,255
Germany66.5783,900,473
Malta65.43442,784
United Kingdom65.3368,207,116
United Arab Emirates63.589,991,089
Qatar62.222,930,528
Libya61.256,958,532
Lebanon59.746,769,146
Taiwan58.7723,855,010
Cyprus58.391,215,584
Bahrain58.361,748,296
Greece56.7210,370,744
Jamaica56.442,973,463
Ethiopia55.52117,876,227
Jordan55.3610,269,021
Costa Rica55.095,139,052
Uruguay54.913,485,151
Spain54.7446,745,216
Zimbabwe54.7215,092,171
Trinidad And Tobago54.171,403,375
Slovenia54.172,078,724
Palestine52.995,222,748
Panama52.984,381,579
Mauritius51.61,273,433
Estonia50.991,325,185
Portugal50.7710,167,925
Kuwait50.334,328,550
Croatia50.054,081,651
Thailand49.8669,950,850
Fiji49.67902,906
Latvia49.551,866,942
Chile49.1519,212,361
Belize49.06404,914
Saudi Arabia48.7135,340,683
Oman48.555,223,375
Myanmar48.0654,806,012
Cambodia47.8216,946,438
El Salvador47.696,518,499
Dominican Republic46.1710,953,703
Nicaragua45.876,702,385
Czech Republic45.710,724,555
Lithuania45.412,689,862
Slovakia44.655,460,721
Mozambique44.6532,163,047
Brunei44.33441,532
Namibia44.12,587,344
South Africa43.7460,041,994
Ghana43.1131,732,129
Guatemala43.0418,249,860
Brazil42.64213,993,437
Honduras42.3410,062,991
Ecuador41.9917,888,475
Cuba41.7311,317,505
Hungary41.79,634,164
Iran41.3985,028,759
China40.541,444,216,107
Iraq39.8441,179,350
Suriname39.58591,800
Malaysia39.4632,776,194
Poland39.3837,797,005
Montenegro39.37628,053
Botswana39.372,397,241
Kenya39.2654,985,698
Peru38.8233,359,418
Argentina38.7245,605,826
Russia38.59145,912,025
Vietnam38.1798,168,833
Bulgaria37.376,896,663
Philippines36.97111,046,913
Indonesia36.86276,361,783
Albania36.632,872,933
Serbia36.38,697,550
Bosnia And Herzegovina36.193,263,466
Romania36.0719,127,774
Turkey35.6685,042,738
Zambia35.4918,920,651
Tanzania35.0761,498,437
Morocco34.5937,344,795
Mongolia34.433,329,289
Mexico34.29130,262,216
Bolivia34.0711,832,940
Rwanda34.0113,276,513
Paraguay33.327,219,638
Belarus33.029,442,862
Sri Lanka32.9521,497,310
Armenia32.72,968,127
Moldova32.634,024,019
Bangladesh32.62166,303,498
Nigeria31.75211,400,708
Uganda31.7247,123,531
Ukraine30.9443,466,819
Nepal30.6929,674,920
Algeria30.5444,616,624
Colombia30.2551,265,844
Kazakhstan30.0618,994,962
Azerbaijan29.8110,223,342
Egypt29.09104,258,327
Kyrgyzstan28.136,628,356
Georgia27.783,979,765
Venezuela27.2228,704,954
Uzbekistan25.7933,935,763
Tunisia25.4311,935,766
Syria25.3118,275,702
India25.141,393,409,038
Afghanistan24.5139,835,428
Pakistan18.58225,199,937

Most Expensive Countries To Live In 2021