Are you interested in learning more about the most expensive countries in the world? Most people think that the country where they are living at the moment is expensive, but you should wait to read the facts about these countries before you claim something like this.
What’s interesting is that the cost of living in these countries is going up every year in the last decade. This means that you have to earn more if you want to live a good life there. On the other hand, most of these expensive countries are offering the best quality of life.
This is quite logical because the taxes are high and the governments can spend these taxes on infrastructure, healthcare, education and other things that contribute to the quality of life. With the help of our list of the 11 most expensive countries to live in, we will let readers:
- Learn more about the most exciting countries where you can live a good life only if you are ready to pay more
- Explore the most expensive and interesting countries to live in around the world
- Find out more about the cost of food, rent and more
On this list, you will find countries from all over the world. They are listed in no particular order. Now let’s find out more about the 11 most expensive countries to live in.
1. Switzerland
Location: Europe
Population: Around 8.5 million
Area: 41,285 sq. kilometers
Currency: Swiss franc
Capital city: Zurich
Situated close to the center of Europe, Switzerland is a country with a long tradition known for many things. For instance, many people know Switzerland as a country where rich people can open bank accounts and keep their earnings hidden from the eyes of curious national revenue agencies. This country is also known for its tasty chocolates, high-quality watches and more.
It’s interesting that Switzerland has four official languages – German, French, Italian and Romansh. This means that it won’t be difficult for many people to move to this country if they are worried about their ethnic background. In addition, there are thousands of migrant workers in this country.
But, there’s one downside for most people who want to live in this country – this is one of the most expensive countries to live in for decades. We are not saying this only because the cost of groceries is relatively high. Renting a place or buying a property will require a small fortune. For example, renting a one-bedroom apartment in the center of Zurich will cost you around 1650 Euros per month.
On the other hand, those who want to buy an apartment in the center of this city will have to pay around 11.500 Euros per square meter. The groceries are not very expensive, but they are still more expensive compared to most countries.
- Switzerland has an excellent location – close to the center of Europe
- This country has a stable economy and a high standard of living for many decades
- The price of properties is extremely high in this country
Cost of living in Switzerland
Gasoline (1 liter): 1.54 Euros
Rent (one bedroom in the center of the capital city): 1650 Euros
Milk (1 liter): 1.57 Euros
Basic utilities without Internet for an average apartment (1 month): 178 Euros
2. Bermuda
Location: North America
Population: Around 71.000
Area: 53 sq. kilometers
Currency: Bermudian dollar
Capital city: Hamilton
To be more precise, Bermuda is not a sovereign country – it’s a British Overseas Territory located in one of the most attractive parts of the North Atlantic Ocean. This country has been blessed with incredible nature which is why many people, especially from the United States, are traveling there when they want to spend a beautiful vacation. Bermuda is known not only among tourists but also among business people interested in offshore companies.
It’s worth mentioning that Bermuda has a mixed ethnic and racial population. More than half of the population is black, over 30% are white and almost 10% of the people there are multiracial. So, it’s not difficult to be accepted there, but it seems that only a wealthy person can live on these islands. One of the main reasons why Bermuda is listed among the most expensive countries in the world is the popularity of this territory as a holiday destination. That’s why, for example, domestic draft beer in a restaurant will cost you around 9 Euros or an average Internet package costs around 140 Euros per month.
- Bermuda is a British Overseas Territory
- This is a multicultural and multiracial region
- It’s a place where you can find amazing beaches and interesting attractions
Cost of living in Bermuda
Gasoline (1 liter): 1.93 Euros
Rent (one bedroom in the center of the capital city): 2200 Euros
Milk (1 liter): 2.69 Euros
Basic utilities without Internet for an average apartment (1 month): 217 Euros
3. Singapore
Location: Asia
Population: Around 5.6 million
Area: 722.5 sq. kilometers
Currency: Singapore dollar
Capital city: Singapore
Singapore is the only city-state that you will find on our list of the most expensive countries to live in. Located in southeast Asia, this island city-state has been thriving in the last few decades. Today, they are an international hub for healthcare, entertainment, education, innovation, technology, and tourism. All these things have obviously contributed to the status that this country has today.
The interesting strategic position of this country and access to a wide range of job opportunities have made many people consider Singapore as a destination where they can live in. In addition, people that live there are friendly towards foreigners. Let’s not forget that you can use Singapore as a base for exploring the Far East and Southeast Asia. Singapore is also known as a place where you can find delicious food. The good thing is that most of their restaurants are not expensive, but this country is quite expensive in general.
- Singapore was one of the so-called Asian Tigers – a group of countries with strong and thriving economies
- This is actually a city-state
- The residents of Singapore are known for their hospitality
Cost of living in Singapore
Gasoline (1 liter): 1.47 Euros
Rent (one bedroom in the center of the capital city): 1800 Euros
Milk (1 liter): 1.99 Euros
Basic utilities without Internet for an average apartment (1 month): 100 Euros
4. Iceland
Location: Europe
Population: Around 360.000
Area: 102.775 sq. kilometers
Currency: Icelandic krona
Capital city: Reykjavik
Iceland is the most isolated European country in terms of location. This is an island country which has a very interesting history. Founded by the Vikings, Iceland is now known as a country which has excellent infrastructure, great political system, and a thriving economy. The fact is that they had bankruptcy problems a few years ago, but that situation was resolved.
Today, many people who want to move to a place where they can improve the quality of their life are considering moving to Iceland. The good news is that Iceland has low taxes and provides great opportunities for those involved in the manufacturing, biotech and finance sectors. Keep in mind that there are specific things that make Iceland one of the most expensive countries to live in the world.
For example, the cost of groceries is not high, but eating in restaurants is higher compared to most countries in the world. It’s probably the price of real estate that contributes the most to this list of expensive things in Iceland. The price for an apartment in the center of the nation’s capital is 4300 Euros per square meter.
- Iceland is an island country located far away from European mainland
- The county was hit by a financial crisis a decade ago, but it managed to recover fast
- It’s quite expensive to purchase real estate in this country
Cost of living in Iceland
Gasoline (1 liter): 1.63 Euros
Rent (one bedroom in the center of the capital city): 1500 Euros
Milk (1 liter): 1.14 Euros
Basic utilities without Internet for an average apartment (1 month): 82 Euros
5. United Arab Emirates
Location: Asia
Population: Around 9.6 million
Area: 83.600 sq. kilometers
Currency: UAE dirham
Capital city: Abu Dhabi
For many centuries, the United Arab Emirates were known as a relatively poor region which switched conquerors. However, starting from the 20th centuries they have become an important area due to the discovery of oil. Nowadays, the United Arab Emirates is known as a rich country where you can find millionaires from all over the world. What’s interesting is that the rich and popular people that live in cities like Abu Dhabi and Dubai that make the cost of living there very high.
Another thing that’s out of the ordinary is that most of the people that live in the UAE are not born in this country. As a matter of fact, just 12% of the population is genuine Emirati people. There are migrants from literally every place in the world in the UAE – from the United States and the UK to India, China, and Egypt.
This country has a very strong economy, but if you want to live there, you should be ready to pay more. Of course, living in one of the world’s most expensive countries comes with many benefits. For instance, the only thing that you probably don’t have to worry about is the price of gasoline – 0.57 per liter at the moment.
- The United Arab Emirates has one of the lowest gasoline prices which makes sense
- The majority of the population in the UAE comes from foreign countries
- It’s easy to find a good job here, but you have to be prepared to live an expensive life
Cost of living in the United Arab Emirates
Gasoline (1 liter): 0.53 Euros
Rent (one bedroom in the center of the capital city): 1220 Euros
Milk (1 liter): 1.48 Euros
Basic utilities without Internet for an average apartment (1 month): 116 Euros
6. Norway
Location: Europe
Population: Around 5.3 million
Area: 385.207 sq. kilometers
Currency: Norwegian krone
Capital city: Oslo
Financial wealth, gender equality, education, life expectancy – all these things contribute to the standard of living and it turns out that Norway ranks high regardless of the indicator we will take into account. But, all these things come at a price. Norway is among the most expensive countries in the world, but this doesn’t mean that everything in this country is expensive.
For instance, a meal in an inexpensive restaurant will cost you around 20 Euros which is high compared to most countries not only in the world but in Europe alone. On the other hand, transportation is relatively inexpensive.
However, if you have enough money or you have a good job opportunity in Norway you should definitely consider moving there. Did you know that life expectancy in Norway is 82 years on average? In addition, this is one of the countries that have the lowest unemployment rate and excellent educational opportunities.
On top of that, the Norwegians are known as tolerant and friendly people. You have plenty of options to move because all the cities in this country have great infrastructure. Yet, most foreigners are moving to the capital of this country – Oslo.
- Norway is one of the countries that have the best infrastructure in the world
- This is also a place where you can find beautiful nature
- The cost of living in Norway is very high and even the food in this country is expensive
Cost of living in Norway
Gasoline (1 liter): 1.60 Euros
Rent (one bedroom in the center of the capital city): 1200 Euros
Milk (1 liter): 1.78 Euros
Basic utilities without Internet for an average apartment (1 month): 151 Euros
7. Israel
Location: Asia
Population: Around 9 million
Area: 22.072 sq. kilometers
Currency: New shekel
Capital city: Jerusalem
Israel has a special meaning in many religions. This country has a long history which was not always pleasant. For centuries, many people were visiting this country as pilgrims and today their number has increased because many tourists are flocking to the holy land too. In addition, Israel has a big expat community which consists of Jews that have returned to their native country from different parts of the world.
But, it appears that if you want to enjoy the sacred places and amazing landscapes in this country, you have to be ready to pay more. It doesn’t really matter whether you go there as a tourist or you want to live there, the fact is that Israel has become one of the most expensive countries in the world. A trip to a mid-range restaurant for two people will cost you around 56 Euros.
Buying an apartment in the center of the capital of this country will be a mission impossible for most people because the price is 8550 Euros per square meter. Yet, we must mention that Israel has a thriving economy which is focused on innovation and entrepreneurship. As mentioned before, this is a country that offers access to hundreds of ancient sites.
- After years of problems, Israel is now considered to be a stable country
- This country has a thriving economy
- Israel has many old and sacred sites that are visited by thousands of tourists every year
Cost of living in Israel
Gasoline (1 liter): 1.63 Euros
Rent (one bedroom in the center of the capital city): 940 Euros
Milk (1 liter): 1.42 Euros
Basic utilities without Internet for an average apartment (1 month): 165 Euros
8. Luxembourg
Location: Europe
Population: Around 440.000
Area: 2.586 sq. kilometers
Currency: Euro
Capital city: Luxembourg city
For many people, the fact that Luxembourg is on the list of most expensive countries in the world won’t be a surprise. This country is often used by the wealthiest people as a place where they are registering and running their companies. Luxembourg has laws that protect foreign business owners and they care a lot about bank secrecy. In addition, many people use this small European country as a base to explore other Western European countries like France, Belgium, Germany, and the Netherlands.
As one of the wealthiest countries in the world, it’s quite logical that this country has excellent healthcare, education, entertainment, infrastructure, and other things that make life easier and happier. This is also a country with an extremely low unemployment rate. But, just like in the case of other similar countries, you will have to be prepared to pay more to enjoy a life like this in Luxembourg. Let’s take a few examples.
First of all, the price of one square meter in the center of Luxembourg city is 8.600 Euros (for an apartment). A meal for two people in a mid-range restaurant is 70 Euros. The monthly Internet bill is 46 Euros on average.
- Renting an apartment in Luxembourg will cost you more than renting an apartment in almost any other country
- There’s is a very low unemployment rate here
- Luxembourg is a prosperous country with a great financial sector
Cost of living in Luxembourg
Gasoline (1 liter): 1.22 Euros
Rent (one bedroom in the center of the capital city): 1500 Euros
Milk (1 liter): 1.40 Euros
Basic utilities without Internet for an average apartment (1 month): 225 Euros
9. Cayman Islands
Location: North America
Population: Around 64.000
Area: 264 sq. kilometers
Currency: Cayman Islands dollar
Capital city: George Town
There are many things that will come to your mind when someone mentions the Cayman Islands, but did you know that this is one of the most expensive countries on our planet? For many years, people have associated these exotic islands with offshore banking. Despite the fact that the government of this country has introduced more restrictive laws in the last few years, the Cayman Islands are still considered to be an offshore haven that is used by international business owners and rich people in general.
Keep in mind that this is not an independent country – it’s another British Overseas Territory. Tourism is another major industry that drives the economy of this territory. This place has lovely beaches and diving sites and many people use it to explore the surrounding Caribbean islands. Even though this is one of the most expensive countries at the moment, it’s worth mentioning that there’s no direct taxation imposed on Cayman Islands residents (and companies) making this place an attractive destination for expats.
But, if you want to live there, you should be prepared to pay high utility bills, expensive restaurant meals, and pricey groceries. The same goes for the real estate market – the price of a square meter (apartment) in the center of George Town is around 8.500 Euros.
- The Cayman Islands are considered to be an offshore haven
- This is a British Overseas Territory
- Tourism and finance are the two main sectors of the economy of this region
Cost of living in the Cayman Islands
Gasoline (1 liter): 1.27 Euros
Rent (one bedroom in the center of the capital city): 1700 Euros
Milk (1 liter): 2.44 Euros
Basic utilities without Internet for an average apartment (1 month): 325 Euros
10. Denmark
Location: Europe
Population: Around 5.8 million
Area: 42.933 sq. kilometers
Currency: Cayman Islands dollar
Capital city: Copenhagen
Did you know that Copenhagen (the capital city of Denmark) is on the list of the 20 most expensive cities in the world? The situation is not much different when it comes to the rest of the major cities in this beautiful European country. Yet, Denmark is considered to be one of the most socially and economically developed countries on our planet. It turns out that the high standard of living has made Denmark one of the happiest countries in the world too.
Low corruption, modern infrastructure, excellent education, great level of income equality – these are some of the things that one can expect from this country. But, before you decide to move and live in Denmark, it’s better to check the things that make this North European country one of the most expensive countries in Europe and in the world.
When we look at the price of groceries, we can say that these things are not very expensive – one liter of milk is worth 1.20 Euros while the price of one kilo of potatoes is 1.65 Euros. Yet, you will have to spend over 80 Euros if you want to eat in a mid-range restaurant (two people). The bill for utilities is around 200 Euros per month. Compare these things with the quality of life and decide whether you can afford to live here or not.
- Danish people are often listed as one of the happiest people on our planet
- People here have high salaries, but the expenses are very high too
- This country has a great level of income equality
Cost of living in Denmark
Gasoline (1 liter): 1.50 Euros
Rent (one bedroom in the center of the capital city): 1250 Euros
Milk (1 liter): 1.20 Euros
Basic utilities without Internet for an average apartment (1 month): 193 Euros
11. Australia
Location: Australia and Oceania
Population: Around 25.5 million
Area: 7.692.024 sq. kilometers
Currency: Australian dollar
Capital city: Canberra
Australia was on top of many lists dedicated to expensive countries that people should consider to live in for many years. The situation today has changed, but the land down under is still an expensive country. Yet, as one of the countries with a high-income economy and as a highly developed country, Australia looks like a promised land for many people around the world.
We must point out that Australia is a big country too and the prices are quite different in different parts of this country. Obviously, the largest city – Sydney – is the most expensive city too. You have to be prepared to spend over 50 Euros in a mid-range restaurant for a meal for two people there.
Buying a property in the center of this city is quite costly too – you must spend over 8.100 Euros per square meter to get an apartment in this part of Sydney. The good thing is that the cost of transportation and groceries is relatively low. Australia has one of the lowest prices when it comes to gasoline and staple foods like milk, bread, rice, and eggs.
- There are people that belong to dozens of different ethnicities in Australia
- Living in urban areas is expensive
- The cost of groceries and transportation is relatively low
Cost of living in Australia
Gasoline (1 liter): 0.88 Euros
Rent (one bedroom in the center of the largest city): 1550 Euros
Milk (1 liter): 0.91 Euros
Basic utilities without Internet for an average apartment (1 month): 107 Euros
