Cash at the ready: these are the most expensive countries in 2023
Monaco is the most expensive country to live in, with a cost of living of $3,585 per month. Other expensive countries to live in include the Cayman Islands, Switzerland, and Singapore, all of which have a cost of living of over $2,000 per month.
Introduction
The cost of living varies significantly across the world and is usually measured by the cost of living or cost of living index. The cost of living in a country reflects the amount of money needed to sustain a comfortable standard of living, including expenses such as housing, food, transportation, and healthcare. Monaco is the most expensive country to live in, with a cost of living of $3,585 per month. Other expensive countries to live in include the Cayman Islands, Switzerland, and Singapore, all of which have a cost of living of over $2,000 per month.
Looking at the data, it is apparent that the cost of living is higher in developed countries than in developing ones. The top 10 most expensive countries are all developed nations from Europe, North America, and Asia. In contrast, the least expensive countries to live in are developing nations from Africa, Asia, and South America. Another trend in the data is that the cost of living is generally higher in small countries and islands, where resources are scarce, and the cost of imports is high.
# Country Cost of Living Co
# Country Cost of Living Cost of Living Index Local Purchasing Power Index Rent Index
1 Monaco $3,585
2 Cayman Islands $2,888 103.4 76.7 75.7
3 Switzerland $2,507 114.2 118.7 50.2
4 Singapore $2,420 85.9 95.6 85.3
5 Liechtenstein $2,118
6 United States of America $2,112 72.4 115.7 47.1
7 Iceland $2,054 83.3 90.1 36.7
8 Luxembourg $2,050 73.2 127.1 48.3
9 Ireland $1,974 70.5 82.6 44.4
10 Australia $1,947 75.3 110.9 39
11 Norway $1,892 88.6 95 30.9
12 Qatar $1,891 59.5 123.6 50
13 Vanuatu $1,886
14 Canada $1,832 66.1 102.1 33.4
15 The Bahamas $1,809 90.9 43.2 39.6
16 United Kingdom $1,804 61.5 98.9 30.3
17 Israel $1,748 76.4 80.5 30.4
18 Netherlands $1,680 68.6 107.8 33.4
19 New Zealand $1,669 72.9 93 31.9
20 Denmark $1,665 78.6 105 30.4
21 United Arab Emirates $1,660 60.3 123.4 34
22 Solomon Islands $1,577
23 North Korea $1,554
24 Antigua and Barbuda $1,546
25 Austria $1,467 66 91.2 23.1
26 Finland $1,423 67.5 98.8 22.7
27 Sweden $1,398 62.9 101.2 22.7
28 Seychelles $1,387
29 France $1,363 68.7 86.2 24.6
30 Germany $1,325 62.9 107.6 26.1
31 Belgium $1,324 65.6 94.5 22.4
32 Kuwait $1,312 46.8 96.7 27.1
33 Malta $1,275 61.4 50.6 25.7
34 Marshall Islands $1,271
35 Barbados $1,262 88.8 36.8 21.2
36 Lebanon $1,254 65.8 22.7 19.2
37 Italy $1,221 61.3 66.5 20.5
38 Cyprus $1,213 55.9 54.8 27.4
39 Maldives $1,188 55 33.9 27
40 Saint Kitts and Nevis $1,184
41 Bahrain $1,171 52.7 81.7 25.4
42 Japan $1,171 64.6 100.4 20.8
43 Palau $1,162
44 Turkmenistan $1,159
45 Spain $1,141 50.6 82.5 21.7
46 Angola $1,129
