Switzerland is officially the world’s most expensive nation to live in, according to a report from the CEOWORLD magazine.
The report based its assessment on a range of living costs, such as accommodation, clothing, taxi fares, utilities, internet, the price of groceries, transport, and eating out. The rankings are based on five major metrics: cost of living, rent, groceries, eating out and purchasing power.
Switzerland easily topped the list and particularly excelled when it came to the cost of groceries and eating out, blowing away the competition in both categories. On the plus side, Switzerland also topped the ‘local purchasing power’ category, which assesses the value of a country’s currency.
European countries were prominent in the higher echelons of the magazine’s most expensive list. Of the top 20 nations, nine were in Europe, five in Asia, one in North America, one in Africa, two in the Caribbean, and two in Oceania. The UK ranked 27th.
Norway ranks second in the list, followed by Iceland, Japan, Denmark, Bahamas, Luxembourg, Israel, Singapore, and South Korea.
At the other end of the spectrum, the Islamic Republic of Pakistan is the world’s most affordable country to live in, followed by Afghanistan, India, Syria, Uzbekistan, Kyrgyzstan, and Tunisia.
Top 20 most expensive countries
- South Korea
- Hong Kong
- New Zealand
- United States
Article published 5th February 2019