CHEAPEST VERSUS EXPENSIVE COUNTRIES IN THE WORLD

As these data are about countries and not cities, keep in mind that even if the average score of a nation is high, some cities in that country may not be that expensive.

This ranking only gives a general idea of the cost of living though. Furthermore, the cost of living is only one of the factors to be taken into consideration before moving abroad. One thing that is very important to me is the level of pollution (here is the ranking of the most polluted cities in the world), the climate during the year, and the quality of the health care system in the country.

The 15 most expensive countries to live in 2022

1. Bermuda

2. Switzerland

3. Bahamas

4. Barbados

5. Iceland

6. Norway

7. Singapore

8. Israel

9. Hong Kong

10. Denmark

11. Australia

12. Luxembourg

13. United States

14. New Zealand

15. Canada

The 15 cheapest countries to live in 2022

1. Pakistan

2. Sri Lanka

3. India

4. Libya

5. Algeria

6. Colombia

7. Kosovo

8. Tunisia

9. Syria

10. Kyrgyzstan

11. Nepal

12. Egypt

13. Uzbekistan

14. Belarus

15. Kazakhstan

Some highlights about this ranking:

• The most expensive country in the world in 2022 is Bermuda, probably due to high import duties.

• Bermuda also ranks first in the Rent Index, Cost of Living plus Rent index, Groceries index, and Restaurant index.

• Taking only into consideration the local purchasing power the ranking changes a lot and the first five countries with the highest purchasing power are: United Arab Emirates, Australia, Switzerland, Germany, and Canada.

• Four European countries are in the top ten and Italy is in 34nd place.

• Singapore ranks first among the Asian countries and as it’s always among the most expensive countries on that continent.

• The cheapest country in the world to live in 2022 is Pakistan.

• Pakistan also ranks as the cheapest country in the Rent Index, Cost of Living plus Rent index and Groceries index. Sri Lanka ranks first in the cheapest Restaurant index.

• Taking only into consideration the local purchasing power the ranking changes a lot and the five countries with the lowest purchasing power are: Cuba, Syria, Ivory Coast, Nigeria, and Ethiopia.