Afraid of expensive local rent? Has your cost of living increased without adequate salary adjustments?
Compared to some of the world’s most expensive places, what is the cost of living at your place of employment? Take a look at five of the most expensive countries to live and work in around the world.
It should come as no surprise that Switzerland is one of the most expensive countries to live in. Those of you who have travelled there can attest to the cost.
In particular, the country is expensive when it comes to food, drinks, hotels, housing, restaurants, clothing, and health insurance – or pretty much everything you need. The cost of groceries and restaurants is outrageously high and is often described as the most expensive in the world.
While Switzerland is expensive for its residents, the cost of living here is the ultimate culture shock for those coming from abroad.
Time and again, Swiss consumers have been shown to pay much more for basic goods and services than most European countries.
The rent here is half of what it would be in New York, but the income tax can be as high as 40%. Even living in your own home is taxed. Swiss citizens, however, at least enjoy a 26% higher purchasing power than New York.
An estimated monthly cost for a family of four is $5771.90 (5,313.60Fr.) without rent. While the estimated monthly cost for a single person is $1566.84 (1,442.43Fr.) without rent.
Swiss Living Costs are, on average, 398.09% higher than those in India, and Swiss Rents are, on average, 903.22% higher..
Recent years have seen millennial travel bloggers and nature lovers flock to this Nordic island country.
The cost of living in Iceland is quite high, but oddly enough, it is not because of housing. Compared to New York, you can rent a home for less than half the price. Food is the most expensive part – you’ll have to spend a fortune on groceries.
Being isolated from the rest of Europe and having a lack of fertile land, Iceland is forced to import much of its food, raising prices. A number of strict regulations also apply to foreign goods imported into the country, which adds to the costs.
With some of the world’s tallest skyscrapers and the award-winning Changi Airport, Singapore is known for its competitive spirit. To both its benefit and to its disadvantage, it has now surpassed Hong Kong as the most expensive city in Asia to live in. These are the results of rankings released by The Economist Intelligence Unit (EIU).
Singapore’s property prices continue to rise in 2021, so the results are not surprising. However, they remain the cleanest and greenest city in the world. They also have some of the world’s most delicious, affordable food.
Without rent, the estimated monthly cost for a family of four is 3,575$ (4,833S$). An individual would pay about 984$ (1,330S$) a month without rent. Compared with New York, Singapore is 16.34% cheaper.
Luxembourg is a tiny nation with a very high purchasing power. Despite being filled with high-end banks and international finance corporations, it compensates for this by having really expensive restaurants, cafes and bars.
In a report by Expatistan, the cost of living in Luxembourg is higher than in 81% of the cities in Western Europe, as well as higher than in 85% of cities worldwide.
Several people cross the border every week to do their weekly shopping. Everything from milk to beef to beer can be found at lower prices in France than in Luxembourg.
Tourists feel the impact of Norway’s high price tag when they compare what their currency can buy them once they exchange it. Norway has always ranked high on the list of most expensive countries in the world.
You’ll find that food is very expensive, and even eating out is very expensive. Taxis can be double what you’d pay back home.
Most everyday costs are pushed up by the high VAT rate of 25% in Norway. Food, however, has a tax rate of only 15% and is still considered expensive. A lot of staples, such as milk and bread, are more expensive in Norway than normal.