10 Countries With The Highest Cost of Living in the World

Are you living in one of the countries with the highest cost of living in the world? If you are, chances are you aren’t doing half bad considering many of these countries are ranked as some of the happiest, cleanest, best and safest places to live, too! I guess if you’re paying a lot for a lifestyle, you better get some more perks as well, huh?

Well, while this only shows the top 10 countries with the highest cost of living in the world, these figures do tend to fluctuate a bit considering our world is ever changing. The figures that are presented in this article are provided by Numbeo and the figures are the consumer price index (CPI) of the country. The CPI of a country measures the average price of consumer goods and services. The goods and services being the daily items needed like transportation, medical, and food.

While some of these countries might be a turn off due to the high cost of living, one also needs to factor in the rewards for living in such a country. The salaries might be on par for the high cost of living, the living conditions are often at the top of the rank, and the country’s treasures can all affect the outlook and outcome of living in one of these countries.

Do you live in a country with a high cost of living? Are you able to still maintain your living at a comfortable level? Perhaps you’re thinking of moving to another country to start a new life or just for a change. Are any of these countries already on your mind? The countries with the lowest cost of living in the world might be more appealing to some, but there will certainly be a trade off in terms of lifestyle habits. So which is more your cup of tea? Let’s see which countries we’re dealing with here…

 

10. Kuwait

Coming in with a CPI of 85.63, Kuwait is a tiny country with a big price tag. You will need to make sure you have enough to reside here especially if you’re a foreigner thinking of living here and starting a business, as it’s quite difficult.

 

9. Papua New Guinea

With a CPI of 86.55 the nation of Papua New Guinea might be a bit of a surprise considering it’s very budget-friendly neighbors, but it’s mostly due to the lack of infrastructure and development. So if you’re traveling and thinking of residing here, make sure you’re aware of the inflated prices.

 

8. United Kingdom

With London ranking as one of the most expensive cities to reside in, it’s no surprise to find the UK on the list with a CPI of 86.68. Its often gloomy weather might not help after you look at your account balance at the end of the month either.

 

7. Singapore

It’s nothing new to find out that Singapore is ranked as one of the most expensive countries in the world. With a CPI of 88.12, you might want to flock to one of its significantly cheaper neighbors like Malaysia or Indonesia.

 

6. Denmark

This lovely country is ranked as one of the happiest, so it’s pretty obvious its CPI of 88.31 isn’t bothering the locals attitude on life. If you have some spare change after paying for your living costs, there are some great attractions to check out around the country, so don’t spend frivolously!

 

5. Australia

Living down under won’t be under budget, that’s for sure. Australia ranks at a CPI of 89.50. Some of the world’s best attractions are located here including the largest sand island in the world, Fraser Island, and of course, the marine treasures of the Great Barrier reef. It might cost a pretty penny to live here, but the perks seem pretty worth it if you can manage it.

 

4. US Virgin Islands

Ranking in at a CPI of 93.41, this incredible grouping of islands should be worth every penny spent. I mean, what do you expect when you live in paradise? There are some of the best beaches on earth located here, insane golf course, great hiking, and crystal clear water for miles.

 

3. Iceland

This forgotten about island way up there has a CPI of 95.41. Don’t let your eyes ice over yet though, Iceland is a gorgeous country and ranked as one of the happiest places on earth, so you know the people aren’t too worried about money here. Although you will need a decent cash flow to actually reside here.

 

2. Norway

This Scandinavian beauty comes in with a CPI of 109.30. The incredible fjords and skiing in the country still make it a popular place to visit, but if you want to live here, you’ll have to pay up since this is one of the countries with the highest cost of living in the world.

 

1. Switzerland

Coming in at a CPI of 124.51, Switzerland tops our list at the priciest for cost of living. But perhaps all the scenic lakes surrounded by the Alps, the skiing opportunities, and all the chocolate you can ever dream of will help take your mind off it.

Here are the top countries with the highest cost of living in the world, would you be willing to live in any of these?