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12 Countries with the Most Expensive Cost of Living, Singapore Takes 7th Position

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Tempo.co

12 June 2024 10:27 WIB

The Bermuda. (Photo: Canva)

TEMPO.CO, Jakarta - Knowing the cost of living index in a country is an important thing to do if you are planning to move to another country or just want to travel.

The cost of living from one country to another is definitely different. However, there are several countries with the most expensive cost of living in the world, which require tens of millions per month to live there.

This is influenced by expensive property rental costs, food costs, transportation, taxes, and other factors that trigger high living costs.

The following is a list of 12 countries with the most expensive cost of living in the world:

Countries with the Most Expensive Cost of Living

There are 12 countries in the world with the most expensive cost of living index for 2024 according to Numbeo, which is measured based on house rent, food, transportation, restaurants and utilities indices.

1. Bermuda

Bermuda is a country located east of North Carolina and is an archipelagic country that has seven main islands with many other small islands.

To live in this country, you need living costs of around US$1,982.99 or in rupiah around Rp31 million per month, not including house rent. Bermuda's cost of living index score is the highest in the world, reaching 113.6.

2. Switzerland

The next country with the most expensive cost of living is Switzerland. The estimated cost of living per person to live in this country located in the heart of Europe is around 1,200-1,700 Euros or the equivalent of Rp20-29 million per month.

It is not surprising that Switzerland recorded a cost of living index of 112.2, only slightly different from Bermuda.

3. Cayman Islands

The Cayman Islands is one of the countries in the world that is famous for its natural beauty.

However, if you want to visit or live there, you should know that the estimated cost of living per person in the Cayman Islands is US$1,200 or Rp19 million per month.

This country located overseas from Great Britain has a 2024 cost of living index of 117.7.

4. Virgin Islands

The Virgin Islands are a British overseas territory located in the northeastern Caribbean.

The estimated cost of living in the Virgin Islands per person is around US$2,200-3,000 or Rp34-57 million, including transportation, housing rental, food and other costs. The cost of living index score in this country is 102.6.

5. Bahamas

The Bahamas is an archipelago with nearly 700 coral islands. To stay permanently or temporarily live there, you have to prepare a budget of around US$1,426 or Rp22 million per month, not including housing rent.

The Bahamas is included in the list of countries with a cost of living including a cost of living index reaching 88.5.

6. Iceland

Next in sixth position is the country of Iceland with a cost of living index of 65.6 per month.

The estimated monthly living costs are quite expensive, namely US$1,287.9 or Rp20 million rupiah. However, this figure is comparable to health and education facilities.

7. Singapore

Turning to the Asian continent, there is Indonesia's neighboring country, namely Singapore. This developed country in the Southeast Asia region recorded a cost of living index of 81.9.

The estimated cost of living in Singapore per person is US$1,132.7 or Rp18 million per month, not including housing rent.

8. Barbados

Barbados is an island country located on the border of the Caribbean Sea and the Atlantic Ocean.

The cost of living in this country is quite expensive, namely around US$1,177.4 or the equivalent of Rp18 million per month, not including house rental costs. Barbados' cost of living index is only slightly different from Singapore, namely 79.4.

9. Norway

Next, there is the country of Norway which is famous for its beauty and prosperity. To experience this, every individual in Norway must prepare at least US$1,195.2 or Rp18 million per month. The country's cost of living index is 79.2.

10. Denmark

Denmark is located in Northern Europe and neighbors Norway. Similar to neighboring countries, the cost of living in this country is also expensive, namely around US$1,171.3 or if converted into rupiah the equivalent of Rp18 million per month. This is accompanied by a fairly high cost of living index, namely 75.2.

11. Jersey

Jersey is an island country located in the English Channel, between the United Kingdom and mainland Europe.

This country, which is also famous for its natural beauty, has a fairly high cost of living index score, namely 74.3.

12. United States

Another country on the list of 12 countries with the most expensive cost of living is the United States.

This superpower country with strong economic strength because it is supported by superior industry has a cost of living index of 72.9.

That is the information regarding the list of the 12 most expensive countries in the world. Hopefully it will be useful for you.

AULIA ULVA

Editor's Choice: 10 Richest Countries in the World by GDP per Capita, Singapore Ranked 3rd

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