Top 10 Countries With The Highest Cost Of Living In The World 2023
If you dream of moving abroad and starting over in a new country, read this list before you do, because you might be surprised how expensive some of these lesser-known countries can be.
We compiled this list based on housing and cost of living for singles living in each state's capital, as well as by population. Here is a list of the world's 10 most expensive countries to live in…
Top 10 countries with the highest cost of living in the world
The list of countries and numbers below is compiled from various sources on the web, such as the World Population Report and the Nomad List.
Here are the 10 most expensive countries in the world to live in:
- Bermuda - $5,011
- Cayman Islands - 3387 USD
- Switzerland - 3162 dollars
- Denmark - 3312 dollars
- Iceland – 2802 dollars
- Luxembourg - 2751 US dollars
- Bahamas - $2,704
- Japan - $2,612
- Norway - 2291 dollars
- Barbados - 2061 US dollars
10. Barbados - 2061 US dollars
Barbados tops our list of the 10 most expensive countries in the world to live in.
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Barbados is a sovereign island nation located in the Lesser Antilles in the West Indies, in the Caribbean region of North America. It covers an area of ??approximately 349 km², is 23 kilometers wide and 34 kilometers long, and has a population of 285,719.
Barbados is the fourth most populous country in the Americas, with approximately 110,000 people living in its capital, Bridgetown. You are looking for about $ 500 a month to rent a single bed room studio apartment in Bridgets.
The basic meal consumes at least $ 13. A beer is around $6.50 and a coffee around $5.00 depending on where you go.
9. Japan - $2,612
The ninth most expensive country in the world is Japan.
Japan is an archipelago in Southeast Asia consisting of 6,852 islands with a current population of 126.8 million. Of the 6,582 islands, the four largest islands have the largest population, as approximately 97% of Japan's population lives on these four islands.
Japan has many large cities such as Osaka, Yokohama, Nagoya and Sapporo, each with a population of over 2 million. However, Japan's capital and largest city, Tokyo, has a population of around 37 million.
To rent a one-bedroom studio apartment in Tokyo, you'll need to spend around $1,370 a month, or $111 a night on Airbnb. Prices for eating out vary, but as an average person you should be looking at spending around $15.00 for a basic meal and around $6.00 for a beer.
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The coffee is also very reasonable at $2.81 a cup considering how expensive Tokyo is.
8. Norway - 2659 dollars
Located in Northern Europe, Norway is a Scandinavian country with a total population of 5.3 million. Norway shares borders with Sweden, Russia and Finland and has a total land area of ??385,203 km².
It is only the 171st most populous country on Earth, with about 14 people per person. square kilometers. Rent in Norway's capital is expensive, so renting a one-bedroom studio in Oslo will cost around $1,193 a month, or $85 a night on Airbnb.
Pay $15 when takeout starts to sell out, and beers are around $9.11.
7. Bahamas - 2704 dollars
The second most expensive country in the world to live in is the Bahamas. The Bahamas consists of more than 700 islands and has a land area of ??13,943 square kilometers and a population of approximately 389,482 billion people.
The largest city in the Bahamas is Nassau with a total population of 255,000. If you're considering visiting the Bahamas, you'll need to shell out about $950 a month for a one-bedroom studio in the city, or $149 a night for an Airbnb.
When going out to eat and drink, you'll want to bring at least $50-$100, as a basic meal will cost around $15-$20 and a beer will be $2.50. The coffee is a bit pricey at about $5 a pop. cup.
6. Luxembourg - 2751 US dollars
One of the smallest countries on our list and one of the smallest sovereign countries on Earth, Luxembourg doesn't leave you much room when it comes to your monthly expenses. Luxembourg is also one of the top 10 richest countries in the world
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Luxembourg is a landlocked country located in Western Europe with a population of 620,319. Its population is small compared to other countries on the list, but with about 207 people per square kilometer, it is the 67th most populous country on earth.
When you arrive in Luxembourg City, you can expect to pay around $1,322 per month for a one-bedroom studio or $80 per night for an Airbnb. Luxembourg looks like it is a little more expensive than the Bahamas when it comes to luxury, such as beer and coffee, because beer costs you about $ 9, and coffee will be left for $ 6.
When eating a meal, a person will have to pay from $ 17 to USD 25 depending on what you order.
5. Island -2 802 USD
Iceland is the fifth among our most expensive national lists. Iceland is located between the North Sea and the Atlantic Ocean and has a total area of ??103,001 square kilometers.
However, Iceland's population (339,949) is still relatively low compared to the other countries on our list, as its harsh geographical landscape is sometimes uninhabitable for many.
As a result, Iceland has the lowest population density of all European countries, only 3 people per kilometer.
Living in Iceland, a one-bedroom studio in the capital, Reykjavík, costs about $1,236 a month, compared to $128 a night on Airbnb. While you're there, eating out costs about $12 for a basic meal, $8 for a beer, and $2.15 for a coffee.
4. Denmark - 3312 dollars
Denmark, the southernmost country in Northern Europe, is the fourth most expensive country in the world.
Denmark shares a border with Germany, Sweden and Norway and currently has a total population of 5.7 million.
The Scandinavian capital is Copenhagen, which has an urban population of 1.2 million people and a metropolitan population of 1.99 million.
Known as one of the happiest places to live on earth, Copenhagen is also a very expensive city to live in. A one-bedroom studio will set you back $1,917 a month or $96 a night on Airbnb.
Eating out costs about $18 per person, while beer and coffee cost between $5.50 and $6.50!
3. Switzerland - 3162 dollars
Switzerland is the third most expensive country in the world to live in.
With more than 8.6 million inhabitants and 41,285 square kilometers, Switzerland is the 95th most populous country in the world and the 135th largest by land area. Switzerland has many beautiful cities to live in, such as the capital Bern and the largest city Zurich.
About 133,000 people live in Bern, and one person can spend about $1,366 per month in Bern or $86 per night on Airbnb. Dining out will cost around $15-20, other beers around $6.00 and coffee around $5.00.
2. Cayman Islands - 3387 USD
The Cayman Islands is the second most populous British overseas territory in the world after Bermuda.
It is located at the western end of the Caribbean Sea and currently has a population of approximately 63,000. It consists of many islands such as Grand Cayman, Little Cayman and Cayman Brac.
The Cayman Islands is well known for setting up offshore companies, with over 100,000 companies believed to be incorporated in the Cayman Islands. If you're thinking of starting a business in George Town, the capital of the Cayman Islands, a one-bedroom studio will cost about $1,924 per month, or $83 per night on Airbnb.
Food and drink on the island is where you will probably spend a lot of money. A typical meal out will cost at least $20 to $30, a beer around $8.00 and a cup of coffee around $7 a cup.
1. Bermuda -5 011 USD
The Bermuda island is used for accommodation and life costs of more than $ 5,000 a day. The month that is the most expensive place of residence in the world.
Like Cayman Islands, Bermuda Islands are another British territory located in the northern Atlantic Ocean. Bermuda has approximately 65,000 people living on a total land area of ??20.5 square kilometers.
Its capital, Hamilton, is also Bermuda's only incorporated city and currently has a population of just over 1,000. Looking for a place to live in the city will require some deep pockets, as a one-bedroom studio will cost around $2,675 per month or $212 per night on Airbnb.
If drinking is your thing, be prepared to spend as a beer will set you back at least $10 and dinner will be around $20-30 per person. a person. Bermuda is the country with the highest cost of living in the world.
Summary
We hope you enjoyed our list of the 10 most expensive countries in the world to live in. Well, you see, these are some very expensive countries to live in.
Living in these countries can make you think twice about drinking regularly and make your pocketbook a little tighter.
However, this is all relative and depends on your disposable income and consumption.
So if you still plan to move or even visit one of these countries long term, at least you know what to expect.
