Top 10 most expensive countries to live in the world; Bermuda, Switzerland to Singapore, know which country tops the list
The list of the most expensive countries to live in world has been revealed. (Representative Photo: Reuters)
The list of the most expensive countries to live in world has been revealed. MoveHub, which works towards helping people to decide where to move, has prepared a list and assembled the names of the places in 2017 on the basis of the range of costs, such as the price of groceries, transport, bills, restaurants and rent. These figures are then compiled into an index accumulated on the basis of the Consumer Price Index (CPI) – the world’s largest database of user contributed data about cities and countries worldwide. They have also used the notoriously expensive city of New York as a benchmark. Here is the list of countries that have been placed among the top ten most expensive places worldwide to live:
Number 10) Luxembourg, a small European country with CPI of 64.18 is at 10th position. The country has been topping the list of the world’s wealthiest nations.
Number 9) 9th position has been grabbed by Qatar, the Arab country which hires skilled labourers from all across the world and has a CPI of 68.06.
Number 8) At 8th place, we have United Arab Emirates (UAE) whose CPI is 68.39. The country is known as the home for the rich and famous. Cities in the UAE like Dubai and Abu Dhabi are notoriously expensive.
Number 7) Bahamas grabbed the place of 7th most expensive country in the world with CPI of 73.63.
Number 6) Norway is ranked as top 6. According to Numbeo, the average 1 bedroom apartment in the country costs around £925 per month to rent. The country’s CPI is 74.47.
Number 5) At fifth position, Singapore stand with CPI of 76.57. According to the blog Singapore Life News, the average cost of a pint of beer in the city-state is around £8.50.
Number 4) Among top 4 it is Iceland with 80.47 CPI. The country is forced to import much of its food, pushing up costs.
Number 3) Hong Kong stands at number 3. Hong Kong is famously expensive, and with space at a premium in the incredibly crowded city, apartments are usually both tiny and pricey. It’s CPI is 81.93.
Number 2) Frequently topping the list, Switzerland stands at number 2. The country is one of the best places on earth to live thanks to great infrastructure, healthcare and a clean environment.
Number 1) The list of world’s most expensive country has been topped by Bermuda, whose CPI is 126.34. The Atlantic Ocean tax haven of Bermuda is officially the most expensive nation on earth, with the country’s capital Hamilton also the most expensive individual city on the planet.