Aerial view of Bern, Switzerland’s capital. The country appears at the top of the world’s most … [+]
Universal Images Group via Getty Images
Have you thought about relocating or retiring in Europe? Better be careful when considering which country to chose now that nine have made it to the list of the 20 most expensive in the world to live in.
Using notoriously expensive New York City as a benchmark — with an index score of 100 and considering five major metrics: cost of living, rent, groceries, eating out and purchasing power — a new study published by Ceoworld Magazine placed Switzerland as the most expensive nation on the planet with a 122.4 cost-of-living index.
Following in the top five are Norway (101.43 cost of living index), Iceland (100.48) and Denmark (83). The list of top 20 also include Luxembourg in 7th place (81.89), Ireland 13th (75.91), France 14th (74.14), Netherlands 15th (73.75), and Belgium 18th (71.78).
The port town of Alesund on the west coast of Norway. The country lists as the second most expensive … [+]
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Another six European countries appear between the 20th and 30th most expensive: Austria, Finland, Sweden, Malta, Italy and Germany.
The study collected and analyzed data from various prior reports, consumer price and cost of living indices to assess a wide range of living costs including transportation, clothing, accommodation, internet, utilities, groceries, taxis and eating out.
Of the top 20 nations, nine were in Europe, five in Asia, one in North America, one in Africa, two in the Caribbean, and two in Oceania. Among the first 10 on the list are also Japan at #4, Bahamas #6, Israel #8, Singapore #9 and South Korea #10.
The Marina Bay walkway in Singapore.
AFP via Getty Images
The Asian countries among the top 20 in the list along with Japan at #4 (83.35) are Singapore (81.1), South Korea (78.18) and Hong Kong (77.22).
The United States (71.05) is the only North America country, Bahamas ( 82.51) and Barbados (76.02) in the Caribbean, Australia ( 73.54) and New Zealand ( 72.53) in Oceania and the Seychelles ( 71.59) in Africa.
The Seychelles, known for luxury holidays and Instagram-perfect beaches.
AFP via Getty Images
The following 10 countries land at 20 to 3o in order of the cost of living index: Austria (70.38) at 21, followed by Finland (70.29), Sweden (69.85), Canada (67,62), Puerto Rico (67.54), Malta (67.46), United Kingdom (67.28), Italy (67.26), Germany (65.26) and Macau (64.84).
“On the other side of the spectrum, the Islamic Republic of Pakistan is the world’s most affordable country to live in” Ceoworld Magazine writes, “followed by Afghanistan, India, Syria, Uzbekistan, Kyrgyzstan, and Tunisia.”
This is the complete list:
1. Switzerland
2. Norway
3. Iceland
4. Japan
5. Denmark
6. Bahamas
7. Luxembourg
8. Israel
9. Singapore
10. South Korea
11. Hong Kong
12. Barbados
13. Ireland
14. France
15. Netherlands
16. Australia
17. New Zealand
18. Belgium
19. Seychelles
20. United States
21. Austria
22. Finland
23. Sweden
24. Canada
25. Puerto Rico
26. Malta
27. United Kingdom
28. Italy
29. Germany
30. Macao