There is a concern about the rising cost of living in Australia’s major cities, but how do these rising costs stack up against the sky-high expenses in some of Australia’s neighbours?
Rent increases, home costs, and an overall high cost of living bring people together like nothing else. Once upon a time, a person could pay their monthly rent and yet have enough money left over to go on vacation rather frequently.
From now on, Australians will have to devote their entire lives to working to afford the basics, like lovely homes and maybe a leisurely lunch together occasionally. Money no longer buys as much as it once did.
It’s easy to assume that Australia is the only country with astronomical prices for necessities like food and housing, but other countries have it much worse.
In addition, complaining about the high cost of living is something you and your neighbour probably have in common, regardless of where you live.
To assist you in deciding where to move so that your savings account can take a break from taking a beating, experts have updated their evaluation of the world’s most costly and cheapest countries.
The data provide an estimate based on various living expenses, including those for travel, apparel, lodging, the use of the internet and other utilities, food and groceries, and dining out.
New York City, widely recognised as among the most costly places in the world, serves as a benchmark with an index score of 100 as the data is assembled into an index.
So, countries with a cost of living index above 100 are more costly than New York, whereas countries with a score below 100 are cheaper than New York.
The survey claims that Bermuda is the most costly country in which to reside. The Cayman Islands, Barbados, and Bahamas are newcomers, following closely behind Switzerland.
However, Australia did not even crack the top ten most expensive nations to live in, coming in at number 13 with an index of 75. The index of rental costs in the country was only 30.0, compared to 96.3 in Bermuda.
If you’re considering moving this year, check the list to know how much money you’ll need to save. Below are the 30 countries with the highest average cost of living in 2023.
1. Bermuda
Rent Index: 96.3
Consumer Price Index: 141.8
Bermuda’s total land area is about 56 square kilometres, with seven principal islands and over 170 smaller islets and rocks. This British overseas protectorate is among the world’s tiniest countries, taking up less than 0.01%, or less, of Earth’s total land area.
It is located in the western North Atlantic Ocean and shares no land borders with other nations. However, Washington, DC and Nassau, Bahamas, are within a manageable driving distance of fewer than 1,500 kilometres.
Monthly ex-pat costs for a family of four in Bermuda are $7,211.88. The average monthly expenditures of a single foreign resident in Bermuda amount to $1,982.99. Both figures do not include rent.
Cost of Eating Out in Bermuda
The typical cost of a single person’s supper at a low-priced restaurant in the United States is $39.00. On certain occasions, you can treat yourself and a loved one to a $150 three-course lunch at a decent restaurant.
McDonald’s offers value meals for the low price of $15. You can purchase a regular cappuccino at local cafés and coffee shops for $5.97. A bottle of local or imported beer costs around $10 when purchased in the town.
Groceries Costs in Bermuda
The United States is home to many supermarkets and other food retail establishments. Retailers, including Arnold’s Markets, Miles Market, The MarketPlace, and Lindo’s Family Foods, are among the most well-known.
You can find everything on your list and more at that store. The fish chowder, codfish breakfast, and Hoppin’ John are just a few regional delicacies that you can find in Bermuda.
The cost of fresh produce, such as apples, bananas, oranges, tomatoes, potatoes, and onions, per kilogram, ranges from $6.03 to $12.16.
The price of alcohol at a grocery store is typically lower than that at a bar or restaurant. It’s common to pay $6.61 for a bottle of imported beer and $6.55 for domestic beer in the United States. For a reasonable price of $3.43, wine enthusiasts can purchase a bottle of decent wine.
Transportation Cost in Bermuda
A one-way ticket on public transportation costs about $4.50, while a monthly pass would set you back about $69.00. Taxis cost $5.92 at the minimum fare and $1.95 for every kilometre afterwards.
New compact cars, such as the Toyota Corolla Sedan or Volkswagen Golf, cost about $40,000.
The price of fuel per litre is $2.40. But first, you need to become a Bermuda resident. Vehicle ownership, leasing, and operation are all illegal for visitors and tourists.
Utilities Cost in Bermuda
Utilities for a one-bedroom, eighty-five square meter apartment cost a typical $271.16 monthly. Utility costs such as power, water, and trash collection are factored in. Nonetheless, depending on your consumption and other variables, it might be between $180.00 and $484.38.
The standard rate for a minute of prepaid mobile service is $0.65. The cost of an internet subscription is $156.73 per month. Some services cost $300 per month, while others cost as little as $100,000 yearly.
Childcare Cost in Bermuda
The government of Bermuda oversees childcare facilities to ensure they follow guidelines conducive to children’s healthy growth and development. Asking the right questions before committing to a daycare centre might help you make an informed decision.
The average monthly cost of a private kindergarten or preschool is $1,258.44. Primary school tuition at an international junior school might cost between $23,000 and $45,000 per year. Saltus Grammar School and Warwick Academy are two schools in the area that meet world-class standards; consider them when planning to move there.
Clothes Cost in Bermuda
A matching pair of Levi’s 501 jeans is $91.19 in Bermuda. A summer outfit at a high-street retailer like Zara or H&M will earn you back $74.17. It costs $144.50 for a pair of Nike sports shoes and $150.00 for a pair of leather shoes.
Cost of Property in Bermuda
When buying a condo, the ARV must be over $25,800, and when purchasing a house, the ARV must be well over $126,000.
Also, before you purchase, you must get a License to Acquire from the Bermuda Ministry of Labor and Home Affairs. The fees can be anywhere from 6% to 12.5% of the property’s total purchase price; however, they are typically closer to 7%.
The average price of a one-bedroom apartment in the downtown area is $23,254.64. Costs drop to around $8,000 per square meter outside the downtown area.
2. Switzerland
Rent Index: 50.2
Consumer Price Index: 114.2
Switzerland is a popular destination for the well-to-do seeking a new life abroad. This country is your perfect place to settle down because of its high standard of living, plentiful jobs in your field, and pleasant way of life.
The country’s proximity to Europe and other parts of the world and its reputation as a bastion of conservatism and political stability make it an attractive destination for individuals searching for the good things in life. It’s becoming less stuffy, thanks to the influx of foreign residents.
While Switzerland’s tax rates are much lower than in many other countries, anyone considering a life-altering move abroad should weigh the benefits and drawbacks of living in Switzerland before committing to the country.
Food Cost in Switzerland
The Switzerland government imposes hefty tariffs on imported foods and drinks to safeguard the livelihoods of their local farmers and agricultural industry.
As a result, the cost of groceries and restaurants may be higher than in other European countries. Due to hefty import duties, restaurant prices can be significantly more than expected.
Spending less money on eating out is possible when you shop at farmers’ markets and grocery stores for your food instead.
The following are examples of food pricing in restaurants and stores throughout Switzerland:
- Bread: $2
- Milk, 1 litre: $1.80
- Coffee: $3.50
- A dozen of eggs: $3.3USD
- McDonald’s medium meal: From $12
- A restaurant meal for one: From $20 to $26
You can save a significant amount of money by preparing meals at home rather than going out to eat. However, seeking discounts like a 2-for-1 offer at restaurants might also work if you need access to the cooking facilities where you stay.
Attractions Cost in Switzerland
Switzerland’s stunning landscapes and lofty mountains have made it a popular tourist destination worldwide. A trip across these mountains could be the trip of a lifetime. Prices for these summit excursions typically range from $100 to $80 per person.
It’s important to remember that most of the paths in the Alps are signposted and can be completed by capable solo hikers without the assistance of a guide. You can save money by not buying the guide. However, you will need a manual for more extreme activities like alpine skiing and via Ferrata.
It’s inexpensive and offers access to more stunning places to view in urban areas. Many cities have museums and art galleries that house fascinating and often breathtaking displays. The average price of admission to one of these locations is $15.
Groceries
Swiss groceries are among the most expensive in the world. Switzerland’s high food cost should be familiar to everyone, especially those who travel to other countries.
You can save a lot of money grocery shopping in another European country, especially at a medium-priced store like Coop or Migros. If you live in Switzerland, going to a German bargain store like Lidl or Aldi won’t save you much money.
Rarely do people purchase any Swiss meats other than pork. It’s well-made, but there is a small difference between this and the other option. In France, many individuals visit the butcher to save money on beef.
Despite the high cost of living, there are strategies you may employ to stretch your grocery dollar in Switzerland. The most common method involves choosing German discounters over their Swiss counterparts. You’ll have to buy some imported goods to save money.
Transport Cost in Switzerland
In Switzerland’s largest cities and towns, buses and railways are among the many options for dependable public transportation. Typically, one-way tickets are relatively cheap for these.
You can ride the bus multiple times in several major cities with the same “short hop” ticket before it becomes invalid.
One should also know that the Swiss Travel Pass is available for up to 15 days of travel within the country. These cards give you unrestricted access to all modes of public transportation in Switzerland, be it trains, buses, or boats.
The pass allows you to enter hundreds of museums and art galleries nationwide without paying an admission fee.
The Swiss Travel Pass for 15 Days is priced at $532. While this may seem expensive at first, it will be the more affordable choice if you plan on doing a lot of travelling. The added benefit of free admission to museums and art shows is a significant selling point.
Renting a bicycle or strolling is the more cost-effective yet scenic alternative if you’re just covering a small distance.
Renting a Car in Switzerland
Your international driver’s license will be valid for up to a year in Switzerland. Since the country is relatively tiny, peak-hour traffic is not uncommon, especially during the busier holiday seasons.
Renting an automobile in Switzerland necessitates a minimum age of 20. Depending on the type of vehicle rented, drivers under 25 years may incur a young driver’s surcharge.
Finding a good deal on automobile rental might cost as low as $14 each day. Not using a seatbelt or driving over the speed limit can result in fines of $120 or more and a night in jail.
It costs roughly $6 per gallon of gas. Remember that these are current prices, which can change anytime.
3. Cayman Islands
Rent Index: 75.7
Consumer Price Index: 103.4
The Cayman Islands are a group of islands in the western Caribbean Sea, beyond Jamaica and the Dominican Republic. Grand Cayman, Cayman Brac, and Little Cayman make up the archipelago.
White sand beaches and pure blue sea are only two reasons visitors flock to these islands, but their rich culture and welcoming locals are also major draws.
The Cayman Islands are one of the most visited places on Earth and are home to some of the best living conditions in the Caribbean.
George Town, the capital of Grand Cayman, is a lively commercial hub with plenty of dining options and entertainment venues.
It’s also home to Seven Mile Beach, a stunning stretch of white sand and turquoise water that frequently rates as one of the Caribbean’s best beaches.
Little Cayman is a fantastic destination for scuba divers and snorkelers; the other islands offer unique experiences. Cave exploration is available on Cayman Brac and Grand Cayman’s West End Point. Both provide breathtaking scenery and adventure.
Every three islands offer visitors and permanent residents a unique paradise flavour.
The Cayman Islands are more expensive, with lower taxes than other popular Caribbean destinations, such as Barbados or the Turks. If the Cayman Islands are in your future, you should be aware of the cost of living and the advantages and disadvantages of each option.
Travel and Accessibility on Cayman Island
The price of round-trip transportation to and from the Cayman Islands varies widely according to destination and season.
Roberts INTL Airport, situated on Grand Cayman, the largest of the three islands, serves as the primary airport serving the Cayman Islands.
Several significant airlines use this airport as a hub, including American, United, British, Delta, and Cayman.
Direct flights from North America cost anywhere from $400 to $800, with the exact amount depending on the season of the year and the city of departure.
However, the price can increase to $1,000+ if you’re from Europe. Additionally, Cayman only has direct flights to North America, while other Caribbean islands have flights from the United Kingdom, Belgium, France, and the Netherlands.
InterCaribbean Airways, Cayman Airways, and Caribbean Airlines are low-cost carriers serving Cayman from other Caribbean islands.
Property Prices in the Cayman Islands
Cayman Islands properties can be pricey, especially on Seven Mile Beach, along the Seven Mile Beach Corridor.
George Town and Camana Bay, the island’s busiest commercial centres, are on the island’s western side.
As you head east, you’ll find that prices drop. Although people from the island’s eastern side will save money by commuting, this is something to keep in mind.
During rush hour, a trip that usually takes 20 minutes to an hour can take well over an hour.
Expect to pay between $1,500 and $2,500 per square foot for a brand-new or under-construction condo, with coastal properties commanding a premium.
The island’s 3-5% rental yields are similarly below the average for the Caribbean. This is because of the increasing demand from outside investors and the rising cost of building in the Cayman Islands.
Seven Mile Beach is a highly desirable spot on the Cayman Islands, yet it is also one of the most costly. You can pay upwards of $2,500 a square foot for a brand-new condo in this neighbourhood, while older beachfront apartments can go for roughly $1,500.
However, some of the original oceanfront condos on Seven Mile Beach may still be found for less than $1,000 per square foot, providing unique offers for those on a budget.
New condominiums can cost $700 or more a square foot, but resale prices are approximately $500 a square foot if you’re prepared to move further west away from the ocean.
Food Costs in Cayman
Prices for groceries and other necessities of life are higher than average across the Cayman Islands. It’s crucial to plan to stay moderate on food and grocery costs, despite the abundance of possibilities.
On the islands, visitors can choose from various restaurants and cafes serving anything from traditional Caribbean fare to exotic international specialties. However, meals at mid-range restaurants might cost between $30 and $50 per person, making eating out costly.
A meal at a high-end restaurant can easily exceed $100 per person.
Preparing meals at home or hiring a private chef can be more economical. There are several supermarkets on the islands, selling both domestic and international fare. The high cost of importing commodities can lead to higher grocery prices than in other countries.
The average weekly cost of groceries for a family of four is about $150. However, it is possible to cut costs on food by taking advantage of bargains and buying regionally grown products.
Entertainment Costs on Cayman Island
The Cayman Islands provides various attractions for entertainment, with prices to suit all kinds of budgets. Shore diving and snorkelling are fun and inexpensive options for those searching for a night out on the town.
The islands’ many beaches, including Smith Cove, Barker’s, Spotts, Rum Point and Kaibo, are all open to the public and simple to reach.
Visiting the sandbar and seeing Stingray City is a unique and once-in-a-lifetime opportunity. Travellers who want to see something besides Seven Mile Beach and Rum Point can visit the Botanic Gardens. This place is home to an attraction on the Blue Iguana, Starfish Beach in Kaibo, Turtle Farm, and even Cayman Brac.
Transportation in the Cayman Islands
The Cayman Islands boasts an advanced and convenient public transit infrastructure. Buses, taxis, and rental automobiles are the most frequently used types of transportation. On the other hand, owning a car can be more convenient and affordable for island residents and workers.
On the islands, you may discover a variety of new and pre-owned automobiles at several dealerships. Since Cayman, most second-hand cars have come from Japan, the United Kingdom, and Dubai.
Significantly contributes to the high cost of living in the Cayman Islands. Import duties on luxury vehicles in Cayman can reach as high as 42%, not counting transportation costs.
Insurance in the Cayman Islands
To live or work in the Cayman Islands, you must invest in a comprehensive insurance policy. As a result, everyone living and working there needs health coverage, and the employer must provide such insurance.
Health insurance is also a must for all self-employed or those operating businesses Health insurance premiums can range widely in terms of coverage and provider. However, the average monthly premium for catastrophic health insurance in the United States is $650, with basic health insurance costing roughly $300.
Insurance against the destruction of one’s house or business by fire, flood, theft, or other means is strongly advised with health coverage. Depending on several factors, insurance premiums for buildings and contents can range widely.
Healthcare Costs in the Cayman Islands
There are several excellent governmental and private healthcare facilities in the Cayman Islands. The government provides all of its citizens with free healthcare.
The public healthcare system may have substantial wait periods, and some facilities may need more cutting-edge medical technology.
Several private clinics and hospitals also provide good medical care on the islands. Although private healthcare is more expensive, it offers advantages such as quicker access to treatment and better medical equipment.
4. Bahamas
Rent Index: 39.6
Consumer Price Index: 90.9
Vacation in the Bahamas is costly, so most people only go there if they’re well off.
Planning and saving for a trip to the Bahamas is necessary to take full advantage of the destination. Let’s find out what a day of vacationing in the Bahamas might cost.
The Bahamian dollar (BSD) is nearly interchangeable with the US dollar (USD), with 1 BSD equaling 1 USD. Generally, the cost of living in the Bahamas is lower than in the United States.
- Besides rent, consumer expenses in the Bahamas are around 23% more than in the US.
- In the Bahamas, consumer prices are roughly 10% more than in the US when rent is included.
- In the US, rent is approximately 15% more expensive than in the Bahamas.
- The cost of a restaurant meal in the Bahamas is 29% higher than in the United States. Compared to the United States, grocery prices in the Bahamas are 2.2% higher.
- The Bahamian dollar is worth 57% less than its American counterpart.
Food Cost In The Bahamas
- A Combo meal at fast food restaurants like McDonald’s- $8
- Coffee (one cup) – $5
- A litre of milk – $3.5
- A fresh-baked loaf of bread – $4
- A kilogram of rice – $4
- A dozen of eggs – $4
- One kilogram of local cheese – $7
- 1.5 litres of water – $2
- A bottle of regular-range wine – $18.50
- Local beer – $3
- A packet of cigarettes – $10
In addition, a person should budget between $20 for less expensive local restaurants and $80-150 for a three-course supper for two people at a medium-priced restaurant.
Transportation Cost In The Bahamas
There is a wide range in the cost of public transportation in the Bahamas, from $1.50 for a one-way municipal bus ticket to $30 to $156 for a monthly bus pass, based on the kind of bus and the distance travelled.
Personal Care Cost in The Bahamas
Everyday necessities that a guest can require while they are there:
- Flu medication is enough for a week – $5.70
- A box of antibiotics -$23
- A 15-minute appointment with the doctor – $114
- One pack of tampons- $8
- Roll-on – $10
- Shampoo – $14
- Toilet paper (four rolls) – $5.99
- One tube of toothpaste – $8
- Standard haircut (men) – $20
- Totals -$105.69
Entertainment Cost in The Bahama
If you want to have some fun, you should probably budget the following amounts of money for the minimum quantity of amusement that a tourist might want to enjoy:
- Movie tickets for pairs- $60
- A cocktail in a club downtown – $24
- Wifi (128GB, or more) – $1198
- A minute of no-discount prepaid cellphone tariff – US$0.73
- One month of corporate gym membership – $112
- Totals – $1394.73
Because of the current inflation rate, these prices will have increased by the time you get there (or maybe even by the time you finish reading this post).
5. Barbados
Consumer Price Index: 88.8
Rent Index: 21.2
Not its affordability, Barbados is renowned for its top-notch beaches, championship golf courses, and rich cultural heritage.
But in Barbados, a place worth paying more for when it has year-round sunlight, exquisite rums, white-sand beaches, and some of the most incredible surfing in the West Indies? Without a doubt, it is!
Working within your financial constraints is the only challenge in organising a vacation to Barbados. With its five-star hotels that cost more than $1,000 a night, the island is frequently ranked as one of the most expensive destinations in the Caribbean.
Cost of Flights to Barbados
Estimated Expense: $750 – 4000 for a round-trip ticket.
Both airfare and lodging will put a significant dent in your trip budget. How much is a plane ticket to Barbados, exactly? Where you launch from makes a difference.
The algorithms airlines use to determine fares are so convoluted that it’s almost hilarious. Skyscanner reports that September is the cheapest month to travel from New York to Barbados, regardless of whether you attempt to save money by booking on a Tuesday, using a VPN, or continually checking GTFO.
The colder months and school breaks coincide with discounts in most major cities.
The following are some of the most popular foreign departure airports and the average round-trip ticket price for flights on discount travel websites:
- New York to Seawell: $750
- London to Seawell: £900
- Sydney to Seawell: $4000
- Vancouver to Seawell: $1600 (Canadian dollars)
Only one major international airport, Grantley Adams International in Seawell, Christchurch, can be found on the island. Seven significant airlines provide direct itineraries, so you must be ready to spend 60+ hours in airports, or else your options for finding a reasonable price are limited.
Travelling via the United States can save you the most money, especially if you book in advance to take advantage of early bird offers and if you can pull the kids out of school to go in September.
Price of Accommodation in Barbados
Estimated Expense: $100-200 Per Day
After the cost of airfare, lodging will be the second-largest expenditure of your trip. Although most accommodations on the island are high-priced villas and all-inclusive resorts, there are a few inexpensive gems if you look hard enough.
Looking into Airbnb or waiting to use your credit card points on the proper hotel chain are your best bets for saving money. You can locate a few hostels on the island if you’re looking to save costs, but you may want to think again after reading the reviews.
Put aside a large sum of money no matter where in Barbados you end up staying.
Cost of Transport in Barbados
Estimated Expense: $8-80 per day
The island is approximately 430 square kilometres, so getting about is pretty straightforward. Because of this, you’ll have to do with a vehicle rental, private excursions, or the good ol’ fashioned reggae buses since the locals don’t bother with any fancy public transportation systems.
You may save a lot of money on transportation if you are okay with walking to the bus stop because of the enormous price difference between these three and since the bus system is much better than Los Angeles’.
Cost of Food in Barbados
Estimated Expense: $30-100 / day
The inconvenient delay in the availability of goods not produced locally should be addressed while discussing island living. Imported food isn’t inexpensive in Barbados, something you may not notice at an all-inclusive that serves the same meals as at home.
Whether or whether your lodging has a kitchen should heavily influence your meal budget. If you’re on vacation, convincing yourself to splurge on a fancier Airbnb to spend more time in the kitchen is tempting.
You will be okay with splurging on a few evenings out, particularly on a traditional Friday fish fry.
Price of Alcohol in Barbados
Estimated Expense: $10-50/day
If you ask a Bajan, they’ll tell you that the oldest rums in the world were made on Mount Gay. Like every other Caribbean island, Barbados has its version of the happy hour.
Drinking rum while touring the island is almost a rite of passage. It’s easy to get your hands on booze. It would take a miracle to avoid seeing a bar or booze shop throughout your day in Barbados. Bridgetown and its surrounding beaches come to life at night.
- At $4 per bottle, Banks Beer, the national beer, is the least expensive.
- The tourist sector of Barbados is most proud of Mount Gay Rum. Even though it’s the oldest rum, it’s still relatively cheap. Mount Gay bottles cost around $20 each.
Cost of Attractions in Barbados
Estimated Expense: $0-150/day
A day at the beach is the most cost-effective and relaxing option, but if your trip lasts more than a few days, you should leave some room in the budget for entertainment.
Barbados is known mainly for its beaches; snorkelling and scuba diving are the most significant activities. You may cross this line item off your list if you possess all the necessary equipment and can get by without a boat.
However, the best way to snorkel is on a Catamaran cruise or boat trip, which may cost $80-$150 per person, depending on how long you want to stay out. Visit shipwrecks or go deep-sea fishing on one of the many trips available.
6. Norway
Rent Index: 30.9
Consumer Orice Index: 88.6
Norway is rich in natural resources; it boasts a diverse landscape, is home to the Northern Lights, and experiences all four seasons. One of the most costly tourist spots globally is here.
Norway’s high cost of living is among the highest in the world. While numerous contributing factors exist, the high labour cost is significant. The cost of most goods and services is higher because they need the utilisation of human labour.
The high costs in Norway generally balance with its citizens’ high earnings. However, tourists from other countries may find it costly to go to Norway.
However, although the cost of certain items in Norway is exorbitant, others are shockingly low. Read on to discover the surprising truth about how costly Norway is.
Utility Costs
The average monthly cost of essential utilities for an 85-square-metre flat in Norway is 1,571 NOK (171 USD). This includes electricity, heating, cooling, water and waste services.
The average price for unlimited download speeds of 60 Mbps or greater is 473 NOK (about 51 USD). Prepaid local tariffs in Norway are about 1 NOK (1 USD) per minute without any discounts or programmes.
Healthcare Cost
Pregnant or breastfeeding women are also eligible for free public healthcare in Norway. The average deductible for the rest is 2,040 NOK ($222) every year. You may get free medical treatment for the remainder of the year after paying this fee and obtaining an exemption card.
Private health insurance has a negligible market share. It is so minute that it is almost nonexistent. Nonetheless, local insurers offer policies for an average of 508 NOK (56 USD) monthly.
Cost of Education
In Norway, all levels of public education are available at no cost to the student. No matter where you’re from, you may attend a university in Norway free of charge. If there is a cost, it will be about 300 NOK (33 USD) or 600 NOK (65 USD).
Your student ID card, student union dues, etc., are all included in this cost. In contrast to the government’s free public education, private and international institutions often charge students tuition. Check out the samples in the area devoted to international schools.
Other costs include sending young children to preschool or kindergarten (called barnehage in Norway). However, the government does a fantastic job covering a significant chunk of the expense.
There is also a limit to the cost that no barnehage may go beyond; in 2019, that limit was set at 3,040 NOK (about $333) every month. The limit may be adjusted annually.
This estimate does not include food expenditures, which might add another 200-800 NOK (22-88 USD) each month.
Rent Prices
See how much you expect to pay in several of Norway’s major cities.
Town Norwegian Krone US Dollars There were 11,240 in Oslo and Baerum, 1,230 in Bergen, 9,070 in Trondheim, and 408 in Stavanger.
Nationwide, the average monthly rental cost is $952 (or 8,740 NOK). Remember that a substantial security deposit is usually required when renting in this nation.
Three to six months of rent is possible! This catches many ex-pats off guard, so it’s essential to include it in your first spending is a crucial plan.
7. Singapore
Rent Index: 85.3
Consumer Price Index: 85.9
Singapore is a city of contrasts, with lush tropical gardens coexisting with glittering skyscrapers. Visitors love the city’s rich history, which has created a unique blend of cultures. Visiting Hindu temples, mosques, and authentic Chinese and Indian neighbourhoods is essential.
The city consistently ranks high on surveys of the most expensive places. When did Singapore become so expensive? Most ex-pats use an index of commonly purchased goods to gauge the “priceyness” of a particular country.
Cost of Flights to Singapore
A round-trip ticket costs about $388.
Flight costs may vary considerably at different times of the year. Travelling expenses reduce significantly in off-peak months. If you want to save money on your trip to Singapore, flying there during off-peak hours is your best bet.
Costs for round-trip flights from four U.S. hubs are as follows:
- Airport transfer from New York to Changi: $503
- Changi International Airport to London: £383
- Changi International Airport to Sydney: $405
- Changi International Airport to Vancouver: $757
Thankfully, with a few insider tips, you may reduce the overall cost of your vacation to Singapore. When making your travel arrangements, it’s best to do it in an anonymous browsing session.
Doing so may prevent cookies that raise the price each time you search. You may save money on airfare by using a ticket comparison service and looking for mistake pricing.
Singapore’s primary airports are Changi International Airport (IATA: SIN) and Seletar Airport (IATA: XSP). Changi is a destination in and of itself because of its beautiful design and interior landscape. It has also been ranked as the best airport in the world several times.
Although Changi is the city’s primary airport, Seletar offers lower airport fees, making it the most cost-effective option for incoming passengers.
Price of Accommodation in Singapore
Estimated Expense: US $20-$70/day
Is it costly to stay in Singapore on vacation? That depends entirely on your budget and the location of Singapore where you choose to stay. You’ll have to make some concessions to keep your hotel and hostel rates down since they’re in the same ballpark as those in Western Europe.
Book a cheap dorm room if that’s all you can afford. A hotel is the best option for individuals seeking seclusion and comfort.
Are you a group of tourists?
Have you ever wanted to blend in with the natives? This is why you need to use Airbnb.
Want to stay in Singapore for a more extended period?
You should wait for an extended period.
Healthcare Costs
Singapore is renowned for having Asia’s top healthcare system. The nation’s healthcare system was rated as the sixth best in the world by the World Health Organisation.
Their healthcare system combines cutting-edge medical technology with highly effective, reasonably priced treatments. Their healthcare system abides by stringent, governmentally required standards for quality, openness, tidiness, and safety.
The drawback is that employers in Singapore are not required to provide insurance to their workers — they do not offer health insurance. This may be fine if your remuneration does not include health insurance. Don’t worry; healthcare expenditures aren’t too expensive.
- The average cost of a visit to a general practitioner is S$40.
- You will pay between S$50 and S$80 for an x-ray and blood test-teste cost of each appointment with a specialist will be between $75 and 125 Singapore dollars.
- In hospitals, ward costs for non-air-conditioned rooms may be as low as S$30.
- You may pay at least S$3,000 for a private lounge.
Singapore has affordable healthcare options. Coverage for medical procedures and hospital stays may add up to an annual premium of at least $2,000.
Travel and Transportation Costs
Due to the high quality of the public transit infrastructure, automobile ownership in Singapore is highly restricted.
Bus and MRT one-way fares are typically about $2. The round-trip fare is S$4.00 every day. If you travel to work 20 days per month, it will cost you S$80.
Taxi Service
Singapore’s taxi service is likewise quite effective. Singapore’s taxi drivers, like everyone else, are keen to cover the quickest routes possible.
As of this writing, the base fare is S$3.90, and each additional km is S$1.00. Taxi rates don’t include everything, however. Airport surcharges and those depending on a property’s location are two examples.
Owning a Car in Singapore
While many other nations make it simple for foreigners to buy cars, Singapore does not. The charges are costly because they include more than just the car’s fair market value in expenses.
The price increases due to taxes and fees, and there may be additional paperwork to fill out, such as entitlement certificates.
Cost of Food in Singapore
Estimated Cost: $10-$80 per day
When budgeting for your time in Singapore, consider food prices seriously. Be prepared to spend a lot of money if you intend to dine at restaurants.
But if you’re willing to taste the fantastic food at the hawker booths, you can eat well without breaking the bank.
You’re in for a cultural feast at Singapore’s restaurants. Many meals are must-tries because of the epic fusion of Indian, Chinese, Malay, and Indonesian influences.
Price of Alcohol in Singapore
Estimated Cost: $2-$21 per day
Remember that Singapore has a zero-tolerance policy on public drinking (including parks but not establishments like bars). You should take greater caution in specific neighbourhoods, such as Little India. The fines for breaking these guidelines are substantial (up to $705).
How much can you expect to pay for a drink in Singapore? Alcohol may be expensive, partly because of the high taxes on it. Beer is a cheaper alternative to pricier alcoholic beverages like wine and cocktails.
Beer is the most widely consumed alcoholic beverage because of its low price. Tiger Beer, a local brand, is recommended. Another popular drink is the Singapore Sling, which combines gin with fruit juice.
Cost of Attractions in Singapore
Estimated Cost: $14 – $44 per day
Singapore is a cosmopolitan city rich in history, heritage, and natural splendour. You will be awed by the 114-foot waterfall at Gardens by the Bay. Meanwhile, the National Gallery has an impressive eight thousand works of art.
Is it costly to take in Singapore’s many attractions? As with so many questions, it varies. You can get by just fine if you limit your sightseeing to a few sites and focus on free or inexpensive landmarks elsewhere.
8. Iceland
Rent Index: 36.7
Consumer Price Index: 83.3
The average wage in Iceland is more significant than in most other nations, although the cost of living is higher. Reasons for Iceland’s high pricing include the country’s limited consumer base, monopolistic business structure, heavy dependence on foreign suppliers, remote location, and prohibitive import tariffs.
Electricity, water, and geothermal power are three forms of energy that are much cheaper in Iceland than elsewhere. This is a significant positive for Iceland in light of the worldwide energy crisis.
Restaurants
The average meal cost at a budget restaurant in Reykjavik is £14. You’d spend £15, £7, and £12 in London, Tokyo, and Paris, respectively, for the identical dinner.
Three courses for two at a midrange restaurant in Reykjavik will set you back £85; in London, it will set you back £52. In Tokyo, it will set you back £34; in Paris, it will set you back £49.
Reykjavik’s café cappuccino costs £3.81 (536 ISK), making it the most costly of the three cities compared. It costs $2.71 in London. The price in Paris is $3, whereas, in Tokyo, it is $2.60.
Groceries
Due to its location in the middle of the Atlantic Ocean, Iceland relies heavily on imports, which may drive up prices. London’s price of $0.91 per litre of milk is the lowest among major cities.
In London, you’ll pay £1.56 for a kilogramme of rice, whereas in Reykjavik, you’ll pay £2.23; in Tokyo, you’ll pay £3.72, and in Pari,s you’ll pay £1.88. London has the lowest price ($5.68) per kilogramme of local cheese 800 ISK of any major city, while Tokyo has the highest price ($11).
The price in Paris, a city known for its cheese fans, is almost twice as much as in Reykjavik, at £16.63.
Transportation
There are no railroads in Iceland (yet), so people must rely on buses and taxis to get around. A monthly bus ticket in Reykjavik will set you back £84, while in London, it would set you back £132, far more than the same passes in Tokyo and Paris, which cost about £63.
The starting fare for a cab in any major city is around £4. In comparison to London (£20,000), Tokyo (£17,000), and Paris (£18,600), the cost to purchase a Volkswagen Golf is highest in Reykjavik at £24,144, or 3,400,000 ISK.
Utilities
Since geothermal heating is so cheap and is used to heat the city’s infrastructure, this is the one sector in which Iceland gives the consumer price index a break.
Utilities for an 85 square metre flat in Reykjavik cost £90, whereas in London they cost £138, in Tokyo they cost £144, and in Paris they cost £125.
While monthly internet costs in London, Tokyo, and Paris average about £28, in Reykjavik, they cost £48.
Rent
London’s downtown one-bedroom apartments rent for £1,608 a month, while comparable apartments in Reykjavik go for £1,341, £982 in Paris, and £750 in Tokyo.
Outside of London, a three-bedroom flat will set you back £2,000, whereas, in Reykjavik, you’ll spend only £1,715, less than Paris ($1,480) and much more than Tokyo ($981).
Taxes in Iceland
Import tariffs in Iceland are among the highest in the world due to the country’s limited consumer base and population. However, the state supports a robust infrastructure, including comprehensive welfare and well-developed transportation systems.
If fewer individuals pay taxes, then each person will pay more. The state imposes steep tariffs on foreign goods to encourage domestic manufacturing and protect the environment, society, and economy.
Local production, such as food production, needs more economies of scale enjoyed by producers in other nations and, as a result, cannot maintain the exact low pricing. Imports are subject to protective levies to encourage domestic manufacturing.
Buying In Iceland
The average price per square foot in the nation’s capital is roughly $5,000. That’s a lot compared to other places, but the price per square foot in Hong Kong is over $30,000!
Numbeo ranks Reykjavik as the 138th best city in the world out of over 500 total.
You may find incredible bargains in rural Iceland. In 2021, a farm and hostel on 135 acres of land were put up for sale. It cost around $970,000 and included 400 acres of common grazing property.
It could be more inexpensive. On the other hand, a similar-sized farm in neighbouring Britain would set you back roughly $4 million.
Alcohol Cost
Alcohol prices a pretty penny in the land of the frosty. Those who indulge in alcoholic beverages would stock up at the duty-free shop upon entering the nation.
In Iceland, a vodka bottle may cost $50, while a pint of ‘cheap’ beer can set you back roughly $8. (Alcohol is not available in the grocery store).
You can only buy so much alcohol at a time from the duty-free shop. (One option is to combine spirits (1 litre), wine (0.75 litres), and beer (3 litres).
Fortunately, happy hours are standard in Icelandic taverns and eateries. Don’t put off checking them out any longer!
9. Denmark
Consumer Price Index: 78.6
Rent Index: 30.4
Denmark has one of the world’s most excellent living standards, but the country also has one of the highest living costs in Europe.
Mercer, a global consulting firm, ranked 227 cities globally based on their respective living costs and placed Copenhagen, Denmark’s capital, at number eleven.
Also ranking in the top 15 of the world’s most expensive cities is Aarhus. Outside of the larger cities of Copenhagen and Aarhus, daily living costs are manageable but not inexpensive.
High earnings offset the high expense of living in the nation, as do free healthcare and an excellent public education system.
Prices in this article are given in euros to facilitate easy comparison with other countries. The local currency is the Danish krone.
A married couple relocating to Copenhagen should have a monthly income of at least €2,800. You may count on a monthly salary of €2,500 in Aarhus and €2,700 in Odense.
Housing Rent And Utilities
A significant portion of your monthly income will go towards housing rent. Give some thought to the neighbourhood before starting your flat search. Since Denmark is so compact, living outside major urban centres may save you a lot of money, yet getting to the heart of Copenhagen is a breeze.
Housing in Copenhagen, on the other hand, is both costly and hard to come by because of the city’s compact size and high tourist demand. One-bedroom rentals on the city’s outskirts start at about 1300 Euros per month, while those in the heart of the city average over 2000 Euros.
You may get a one thousand euro monthly flat in Aalborg or Odense.
A security deposit is often required when renting a flat. Its value is comparable to three months’ worth of rent. In addition, some landlords may need an extra three months’ rent.
The cost of utilities is often not included in a monthly rental. The monthly cost of utilities totals about €120-€150. Internet access is €20 monthly.
Food Cost in Denmark
The cost of goods in Denmark is high. Avoid imported goods and stock up on seasonal items available in your area. Shop at discount grocery stores like Bilka, Lidl, Netto, Fakta, or Aldi to cut costs.
In Denmark, you may get natural farm goods in local food markets. There are also many other types of fairs, exhibits, and needs, including those that sell shoes, clothing, and antiques.
The most costly items in the nation are meat, alcohol, and cigarettes. Onions and potatoes cost roughly $1.50 per kilo—fruits cost around 2 Euros per kg. Water is 2 euros, milk is 4.5 euros for 1 litre, and bread is 2 euros.
A married couple’s average monthly food budget is between €400 and €500.
Cafes and Restaurants in Denmark
It will cost you 15 euros for lunch at a budget restaurant and 80 euros for a mid-range supper for two.
Travelling Cost
Public transport costs €3 per ride but just €55 for a monthly pass.
The base fare for a cab is 6 euros, plus 3.5 euros for each km. The cost of waiting for a vehicle to pick up a passenger is high, over €60.
In Denmark, the price of a litre of gasoline is €2.
You may need everything in Denmark to get around on two wheels. There are a staggering 4.5 million bicycles in the state. That is roughly one for each citizen in the nation.
Entertainment and Sports
Weekend tennis lessons start at €25 for an hour of training time. A membership to a fitness centre costs €35 per month.
It costs €15 for a ticket to the movies.
Medical Services Cost
Public and private medical facilities coexist in Denmark’s well-developed healthcare system. Public health insurance in Denmark entitles you to free medical care, including doctor’s appointments and hospital stays if you find gainful employment there.
But dental treatment is covered. Co-payments range from 25% to 50% of the total medication cost.
With health insurance, paying for even a single doctor’s visit might be more affordable. That’s why you must get travel insurance before you leave Ukraine for Denmark; it’ll make sure you’re taken care of in case anything goes wrong while you’re there.
10. Israel
Rent Index: 30.4
Consumer Price Index: 76.4
Israel has a high cost of living. Among Middle Eastern cities, Tel Aviv has the highest living costs for foreigners. We’ve broken down several fees to help you plan for your move to the Holy Land.
You will understand what to anticipate financially and guidelines for proper social behaviour and communication in Israel. Do not, for instance, extend your hand to shake hands with a religious person.
Instead, you should wait for them to indicate how to welcome them since some prefer speaking first.
Alcohol and Tobacco
Beer, liquor, wine and tobacco goods (like cigarettes) are expensive. In New York, a $1,000 basket is $1070. Stores typically charge USD$14.55 for an average bottle of wine, USD$3.32 for a domestic/local beer of 500ml, USD$4.25 for an international beer of 330ml, and USD$12.73 for a pack of 20 cigarettes.
Clothing Cost
Clothing and shoes, whether for work, play, or kids, may be prohibitively expensive. New Yorkers must pay $1,330 for a basket typically costing $1,000. Men’s designer jeans from a worldwide brand cost an average of $91, men’s leather dress shoes for the workplace cost an average of $126, and a women’s summer dress in size medium cost $55 at a global chain shop.
Communication
Home phone service, internet service, mobile service provider tariff, and data rates are all reasonably priced. New Yorkers must pay $120 for a basket that typically costs $200. The average monthly cost of a basic internet service is US$26, while the average price per minute for a mobile phone plan is US$0.08.
Education
Fees for creches, elementary schools, secondary schools, and universities are too expensive. In New York, a $30,000 basket is $30,900. The typical cost of a private international elementary school in the United States is $20,077 per year, with high school costing an additional $22,342 per year in tuition alone.
Furniture and Appliances
Furniture, appliances, and furnishings like couches, tables, and chairs cost a fortune. In New York, the cost of the same basket, valued at $2,500, is $3175. The typical cost of a 46+” LED UHD TV is $742, while a 6kg front-loading Washing Machine would set you back $865.
Groceries
Consumables, cleaning supplies, dairy, fresh fruit and vegetables, general food goods, snacks, and soft drinks are expensive. In New York, a $1,000 basket costs $1,020.
The average cost of groceries at a significant international supermarket is as follows: apples, $3.70; oranges, $2.31; lettuce, $2.07; potatoes, $1.59; chicken breast, boneless and skinless, $12.46; cheddar cheese, $17.07; eggs, $4.59 for a dozen; bread, $2.68 for 500 grammes; milk, $2.12 for a litre; and water, $1.64 for 1.5 litres.
Healthcare
Everything from routine checkups, inpatient stays, over-the-counter drugs and health insurance is too expensive. You can get a $1,000 basket in New York for $890.
The Typical Expenses of a Private Medical Office An uninsured patient may expect to pay $72 for a visit to the doctor, while a private hospital room for a day would set them back $2,213.
Household Accommodation
Rent, buying price, interest rate on a mortgage, and monthly utility bills are all too expensive. You can get a basket worth $5,000 in New York for $3,450.
The median monthly rent for a three-bedroom, unfurnished, luxury apartment in a city centre is $3,914, while the median monthly rent for a three-bedroom, unfurnished, suburban apartment is $2,563, without including utilities.
Miscellaneous
Dry cleaning, linen, periodicals, newspapers, office supplies, postal stamps, and so on are expensive. In New York, a basket typically costing $500 costs $610. One dry cleaning service for a two-piece suit for males costs an average of $11.88, while a foreign newspaper costs about $3.66.
Personal Care
Beauty, hair care, and hygiene products are expensive. A $500 basket in New York will set you back $510. Women with medium-length hair should expect to pay $204.50, while males may wish to pay $41.50 for a haircut and blow dry.
Recreation and Culture
Tickets to the movies, the theatre, and sporting events are pricey. The same basket that would cost you $500 in New York costs $560.
An adult may expect to pay about $15.27 for a ticket to see a new film at an international theatre (taking into account both peak and off-peak times, if applicable). In contrast, a monthly membership to a global fitness, leisure, or sports club would set you back around $92.
Restaurants, Dinner Out and Hotels
Everything from restaurant meals to hotel room prices to takeaway food and drink is too expensive. In New York, a $1,000 basket only costs $950.
A standard or medium cappuccino costs $4.46, a 330 ml Coke or Pepsi costs $3.22, a burger meal from a major international fast food chain costs $18.20, and a moderate lunch for two at an international restaurant would set you back $90.97.
Transport
Fuel (petrol/gasoline), vehicle rental, public transportation, vehicle ownership, and maintenance come with hefty price tags. A $1,000 basket in New York will set you back $1,230.
While the average price of the highest octane gasoline (1 litre) last year was $1.76, the average cost of a compact, minor, or economy sedan (1.4 litres) with all applicable taxes and fees was $36,946.
11. Hong Kong
Rent Index: 66.3
Consumer Price Index: 75.7
One of the most frequent inquiries from would-be tourists concerns the relative cost of living in Hong Kong. It justifiably has a name as one of the most expensive urban areas on the planet. In 2019, it was one of the three most expensive cities, with Singapore and Paris.
A theft attempt on your bank account is quite possible in Hong Kong. You can blow through your savings faster in Hong Kong than anywhere else, and staying at one of the city’s five-star hotels is a sure way.
Price of Accommodation in Hong Kong
It’s common knowledge that Hong Kong suffers from a housing shortage. Hong Kong’s real estate is among the world’s most expensive because of its high demand and limited supply.
As a result, hotels are often bustling with guests, and during peak travel periods, room rates may increase by as much as 100%. You should expect to spend at least HK$1,800 (US$230) for a five-star hotel and HK$600 (US$77) for a three-star hotel.
The cheapest places to stay are guesthouses and hostels, which start at about HK$150 ($20). Fortunately, some hotels are appealing.
Price of Transport in Hong Kong
Transport in Hong Kong is relatively inexpensive. Hong Kong’s public transport system is excellent, and fares are maintained cheaply to encourage people to use the underground or bus instead of driving in the city’s notoriously congested streets.
A trip on the MTR around the CBD would cost approximately HK$12 ($1.50), whereas a ticket on the Star Ferry across the harbour is only HK$3.40 ($0.40). A single trip on the tram that runs through the busiest parts of Hong Kong Central costs HK$2.30.
The Octopus Card, a contactless smart card used for public transit in Hong Kong, is essential for getting about the city.
Price of Eating Out
Hong Kong is a great city for dining out; you can do it without breaking the bank. The standard Cantonese rice and char siu meal is as cheap as HK$30 or US$4; however, you’ll most often pay HK$60 or US$8.
Buffets, Chinese BBQ, dim sum, and other local specialties may be available for little money. A meal at Gordon Ramsey’s Bread Street Kitchen costs HK$200 (around US$25), while a good burger joint would set you back approximately HK$100 (around US$13).
Price of Going Out in Hong Kong
Hong Kong may be a financial disaster if you like the occasional alcoholic beverage. Cocktails in Lan Kwai Fong often cost over HK$100 ($13), and a pint of local beer will set you back HK$60 ($8). Regular happy hours might be a great way to save money.
Movie tickets cost about HK$60 ($8) outside bars, and takeout coffee costs around HK$30 ($4). As a result, little expenses may soon pile up.
Taxes
You must pay taxes no matter where you live or work. This adage refers to foreign workers in Hong Kong, where taxes are reportedly “among the lowest in the world.” The personal income tax rate scales from 2% up to 7%, 12%, and 17%, with a maximum rate of 2%.
Hong Kong has no estate or capital gains tax; residents pay tax exclusively on their local earnings. It may be a pleasant surprise to learn that you qualify for a tax deduction for close relatives who depend financially on you.
When working for an overseas company, as many ex-pats do, you will only be taxed on the portion of your salary that is considered “income attributable to the services you render in Hong Kong.” If you have questions about taxes, your employer is the most significant source of information.
Salaries
Most foreign workers find jobs with foreign corporations because of the higher pay. The annual HSBC study puts the median salary at $ 148,410. Expats love Hong Kong for more than just the competitive pay offered there.
HSBC reported that 78% of foreign workers were employed full-time, with 70% reporting that they could advance their careers relatively quickly in the former colony. In the following year, middle management salaries will increase by 5%.
The financial services industry accounts for 36% of all jobs, with the education sector coming in at a distant second with only 11%. Another perk is the more significant amount of free time and money available to residents of Hong Kong (58% more than in their home countries).
12. Australia
Rent Index: 39.0
Consumer Price Index: 75.3
People from all over the globe fantasise about making Australia their permanent home because they think it’s heaven on Earth.
Knowing how much money you’ll need to cover the basics is essential when planning a trip there, whether you’re going for the sun, sea, and surfing or because of the high living standards.
The combination of a high standard of living and high income has made Australia and will continue to make it an appealing destination for individuals from all over the world.
Restaurants
Enjoy your time in Australia the most by trying out one of the country’s many excellent restaurants.
When compared to the average monthly pay, the rates are fair, but visitors from nations where that number is closer to $200 per month would be disappointed.
That’s why plenty of them choose to make supper at home with stuff they get at the supermarket.
Markets
Prices for groceries, including meat, fish, and produce, may be found at local markets for a reasonable sum.
It’s common for Australia to have higher-than-average prices for staples like bread and eggs.
Intriguingly, a cup of coffee may cost you $6 or more.
Transportation
Australia’s public transit is among the world’s best, but using it will cost you.
Monthly tickets may cost as much as $107 in certain Australian cities. It is not the most expensive in the world, but it is still higher than the average.
Utilities (Monthly)
Compared to the typical Australian monthly income, the cost of utilities is manageable.
Giving $191 per month for necessities is not feasible compared to other nations’ earnings.
The cost of a phone call is negligible compared to using the Internet.
Sports and Leisure
Many Australians engage in regular physical activity, including walking, jogging, and cycling, to encourage a healthy lifestyle.
Monthly exercise expenses in Australia range from free to a few dollars, depending on the location, and are well within reach of even those making minimum payments.
Clothing and Shoes
The increased cost of living means that clothes and footwear cost more than in less developed nations.
It’s a rather typical scenario, and their net wages aren’t excessively high compared to the national average in Australia.
No matter how great the living level is, designer clothing is still relatively pricey, and Australia is no exception.
Rent Per Month
Apartment rentals in major cities like Sydney and Melbourne cost much more per month than those in more suburban locations.
The average monthly rent in the city centre is $1,499, but rents in the suburbs are often lower.
13. Luxembourg
Rent Index: 48.3
Consumers Price Index: 73.2
One of the most crucial things to discover before relocating to a new nation is how much money you’ll need each month.
The common perception that “Luxembourg is one of the most expensive cities in Europe” may be dispelled by highlighting the city’s many positive financial aspects, which you shall now do.
Salary
The income one receives when living in a nation may significantly impact the overall cost of living comparisons.
The latest official government statistics (April 2022) indicate that the minimum gross monthly income for a trained adult worker in Luxembourg is 2,776.05 EUR.
According to a recent post on CareerExplorer (April 2022), the average annual gross wage is roughly 59,000 EUR, with the highest earnings in the banking industry.
It’s also worth noting that when the consumer price index goes up or down, wages in Luxembourg automatically increase or decrease to reflect the corresponding change in the cost of living.
Accommodation
Finding a place to stay in Luxembourg may be difficult and costly if you do. The kind of lodging and its proximity to major attractions will most impact the total cost.
A one-person room in a Coliving space would set you back between 800 and 1250 euros a month. On average, a studio would set you back about €1600.
Considering all factors, a Coliving arrangement is often the best solution for a young, single professional.
On the other hand, a couple may choose an apartment that provides more “creature” amenities. However, a two-bedroom apartment for a family of four would cost at least 2,200 euros a month.
Food Prices
Food costs are higher than in the nations around it; however, this may change from one brand to another. The prices at Cactus and other Luxembourgish supermarkets are often higher than those at Delhaize, Auchan, and Lidl, to name a few international chains.
A consumer will instantly notice the difference in pricing while dining at a restaurant. The typical cost of a restaurant dinner (main course + beverage, no appetisers included) is about 30 euros. Conversely, you can pay about 40 Euros per person in a mid-range restaurant.
Transportation Cost
Public transportation in Luxembourg is now free for all residents as of the new year, 2020. If we’re talking about a family with children, it may amount to a monthly savings of several hundred euros.
If you’re more environmentally conscious, you may subscribe to Luxembourg’s “develop” electric bike system for only 18 euros per year.
It’s worth noting that decreased taxes have resulted in lower gas costs compared to other nations. Sometimes it’s a whole twenty cents a litre!
Those who like to travel will find that Luxembourg’s convenient location in the middle of Europe and its well-developed communication network (including connections to DB in Germany and TGV in France, as well as an International Airport just 20 minutes from the City and several more International Airports within a few hours’ drive) are significant benefits.
Health Insurance
Public health insurance often covers all or almost all medical, dental, and hospital treatment and prescription drugs.
The insured individual must first foot the bill before being reimbursed by the National Health Fund.
In addition, some companies provide their employees with health insurance that pays for expenses not covered by insurance plans.
14. New Zealand
Rent Index: 31.9
Consumer Price Index: 72.9
New Zealand is an excellent location since its cost of living is relatively low compared to other developed countries. Making sure you can afford a comfortable lifestyle in your new nation is essential before moving abroad.
The high cost of living in New Zealand is a drawback despite the many advantages of relocating to this South Pacific island country. Making sure you can afford a comfortable lifestyle in your new nation is essential before moving abroad.
Tax in New Zealand
New Zealand has a simple, tiered tax structure. This implies that your tax rate on salary or income may vary based on its amount. Costs in New Zealand are
- 10.5% tax on income of up to NZ$14,000.
- 17.5% tax on income between NZ$14,001 and NZ$48,000
- 30% tax on income between NZ$48,001 and NZ$70,000
- 33% tax on income between NZ$70,001 and NZ$180,000
- 39% tax on income of over NZ$180,01+
Groceries
If you and your partner do most of your cooking at home, expect to spend roughly $398. If you look hard enough, you may get wine for as little as $6. In 2022, a pack of smokes will set you back between $20 and $32.
Restaurants
A very inexpensive restaurant supper for two would cost around $23. The average cost for two people is roughly $40. Any meal that costs more than this is considered upscale.
SIDART is the name of one of the most expensive eateries in all of New Zealand. The main course here will run you around $30.
McDonald’s is available for those who would rather eat quickly:
- A Hamburger costs $2.68
- One cheeseburger is $2.95
- A triple cheeseburger is $5.11
- A McVeggie burger is $8.77
Then for drinks:
- A Coke costs $2.40
- The juice costs $2.73
- A cappuccino costs $3.2
In KFC:
- A small bucket for two people is $17.92
- A veggie burger combo like chips and a drink is $8.09
A Subway sandwich:
- A footlong sandwich is between $7.97 and $9.96
- A Subway sandwich is between $4.98 and 6.64
Utility Costs in New Zealand
In New Zealand, the cost of utilities is often reasonable. “Rates,” the municipal taxes paid by property owners, sometimes include the cost of services like water and waste collection.
These are already in your rent as a tenant. Utilities such as power, gas, and internet may cost anywhere from USD$160 to USD$200 per month, depending on the size of your flat and the providers you choose for each service.
15. United States
Rent Index: 47.1
Consumer Price Index: 72.4
Living expenses in the United States will differ depending on where you are and what kind of location you choose to call home (urban, rural, or suburban).
Let’s look at various statistics based on averages throughout the United States; nevertheless, there may be significant variations in certain areas.
Values in the Midwest (Ohio, Indiana, Illinois, etc.) will be lower than those shown here, while those in New England will be much higher.
You can estimate the cost of tuition at a college or university by contacting the appropriate office. All monetary amounts cited here are in US dollars.
Housing and Utilities
The United States has many housing options for people of all budgets and lifestyle preferences. In the United States, rent may range from $500 (for smaller, more remote studios) to $1,500 (for larger, more central 3-bedroom apartments).
Another factor affecting the total cost is whether or not your rent covers utilities. Many college towns may include some or all of the cost of utilities. Read your lease carefully to find out what expenses are covered.
- Electric: Apartment utility costs may range from $50 to $100 per month, depending on factors including square footage, energy-efficient equipment, and lighting usage. Electric heating might add an extra $150 to your monthly expenses.
- Gas: Not in every kind of dwelling. Ten to fifteen dollars a month is all it will cost if you use it for cooking. The monthly cost might easily exceed $100 if utilised for heating.
- Cellular service: If you add a data plan to your service, the monthly cost might easily exceed $100.
- Water, sewer, and trash: If your landlord pays for it for the whole apartment complex, you won’t have to pay for it separately. If you are required to make payments, the average quarterly rate from a municipality is $75, with some smaller communities charging as little as $50.
Other Costs
Here are some additional outlays that might occur throughout your stay in the USA. These estimates are to serve as a guideline for possible expenditures.
- A week’s worth of groceries for one person could cost anywhere from $20 and $40, depending on your diet. A gallon of milk costs about $3.50, a loaf of bread costs $2.50, a pound of rice costs $1, and a dozen eggs costs $2. Fresh food is expensive and fluctuates substantially depending on the fruit or veggie.
- A gallon of gas now costs around $3.50. Monthly passes for public transit typically cost between $50 and $60 (with student discounts available in certain places).
- Except in superstores like Walmart or Target, clothing may be pricey. It’s possible to spend $40 on a pair of pants.