Named 25 most expensive countries in the world: most of them live cheaper than in New York - ForumDaily
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The 25 most expensive countries in the world are named: in most of them it’s cheaper to live than in New York

New York has a reputation as one of the most expensive places to live in the US and one of the most expensive cities in the world. Only four countries are more expensive to live than the Big Apple. But even if a country has cheap rent and food, living there can be expensive for other reasons, such as high taxes, low wages and above-average transportation costs. GOBankingRates offers to find out in which countries of the world the most expensive to live, and compares them with New York.

Фото: Depositphotos

1. Iceland

  • Cost of Living Index: 123,96
  • Local purchasing power: 87,84

The high cost of living in Iceland is not related to housing. You can rent a house for less than half what you could spend in New York. In Iceland, it's all about expensive food—you'll spend 33% more on food and 19% more on groceries than in New York. And local purchasing power here is lower than all but one of the 15 most expensive countries.

2 Switzerland

  • Cost of Living Index: 131,39
  • Local purchasing power: 126,15

Switzerland has one of the highest standards of living in the world - 31% higher than New York - plus the most expensive products in the world. Rent is half of what you pay in the Big Apple, but income taxes can be as high as 40%. Even living in your own home is taxed. However, Swiss citizens at least enjoy purchasing power that is 26% higher than in New York.

3 Norway

  • Cost of Living Index: 113,70
  • Local purchasing power: 107,95

Rent in Norway is half as much as in the US, but food is expensive. Norway ranks third in the world for the highest prices for food and restaurant meals - 25% higher than New York.

4. Bahamas

  • Cost of Living Index: 100,68
  • Local purchasing power: 71,40

At first glance, life in the sunny Bahamas costs about the same as life in the Big Apple. However, the rental price is 65% lower, and the country is the third in the world in terms of taxation.

5. Luxembourg

  • Cost of Living Index: 96,56
  • Local purchasing power: 116,73

Rounding out the top five most expensive countries to live in, Luxembourg has purchasing power 16% higher than New York. But this does not apply to restaurants - Luxembourg is the fifth most expensive food in the world, and it is 8% more expensive than New York.

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6 Denmark

  • Cost of Living Index: 93.30
  • Local purchasing power: 117,53

Although living in this country is slightly cheaper, and residents enjoy much greater purchasing power than in New York, Denmark ranks 4th among the most expensive places in the world in terms of food costs. The prices on the menu are 13% higher compared to the Big Apple.

7. Singapore

  • Cost of Living Index: 91.40
  • Local purchasing power: 95,89

Living in Singapore costs only a little less than in New York. Tenants will notice that housing prices here are 28% lower than in the Big Apple.

Фото: Depositphotos

8 Japan

  • Cost of Living Index: 86,58
  • Local purchasing power: 107,35

The total cost of living here is 13% lower than in New York, plus Japan offers rental housing 74% cheaper than in the Big Apple. You will pay 8% less for groceries and about 51% less for eating out, while your purchasing power will be at least 7% higher than that of New Yorkers.

9. Israel

  • Cost of Living Index: 86,53
  • Local purchasing power: 102,30

Although the cost of living in Israel is quite high, it is still 13% lower than in New York. The greatest savings are achieved through rental, which is 64% cheaper.

10 Ireland

  • Cost of Living Index: 85,45
  • Local purchasing power: 96,10

Concluding the list of the 10 most expensive countries to stay in, Ireland is still 15% cheaper than New York. You will notice the most significant savings on rent, which is usually 53% cheaper than in the Big Apple.

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11 Australia

  • Cost of Living Index: 84,30
  • Local purchasing power: 122,98

Although Australia is one of the most expensive countries to live in, residents enjoy the world's highest purchasing power. The country ranks 5th in this indicator, providing its citizens with 23% more purchasing power than in New York.

12. France

  • Cost of Living Index: 83,86
  • Local purchasing power: 101,21

France has a high cost of living, but it is 16% cheaper than living in New York. You will save the most on rents, which are usually 71% cheaper.

Фото: Depositphotos

13 Sweden

  • Cost of Living Index: 83,70
  • Local purchasing power: 113,01

The high cost of living in Sweden is constrained by purchasing power 13% higher than in New York. However, this country also has one of the least acceptable tax rates, and the income tax is about 62%.

14 New Zealand

  • Cost of Living Index: 83,41
  • Local purchasing power: 98,61

The cost of living in New Zealand is almost 17% lower than in New York, although it is one of the most expensive countries to live in. Income tax is also lower than in the US by about 4%.

15. Belgium

  • Cost of Living Index: 83,35
  • Local purchasing power: 98,91

Your life in Belgium will be cheaper than in New York, especially when it comes to renting, which is 72% cheaper. However, Belgians have comparable local purchasing power, which is only 1% lower than in the Big Apple.

16. South Korea

  • Cost of Living Index: 82,94
  • Local purchasing power: 109,36

Life in South Korea is more expensive than in the United States as a whole, but it is still 17% cheaper compared to New York. Renting in South Korea is especially inexpensive, prices are on average 77% lower than in the Big Apple.

17 The Netherlands

  • Cost of life index: 82,69
  • Local purchasing power: 109,48

The Netherlands may be cheaper than New York, but don't be fooled - living in the Netherlands is much more expensive than the US in general. It's also not a very taxpayer-friendly place, with income taxes up to 52%.

18 Finland

  • Cost of Living Index: 81,70
  • Local purchasing power: 119,42

Despite the fact that Finland is one of the most expensive countries in the world, rental prices are 70% lower than in the Big Apple, and products are sold at 31% cheaper. Residents also enjoy 20% greater purchasing power.

19. Austria

  • Cost of Living Index: 81,47
  • Local purchasing power: 98,69

The 55% income tax rate is just one of the factors that makes Austria an expensive country to live in. Purchasing power here is 1% lower than in New York, but rents are 71% cheaper.

20. Italy

  • Cost of Living Index: 79,06
  • Local purchasing power: 81,07

Italy has a high cost of living - more expensive than the US average. At the same time, average costs are 21% lower than in New York, rent is 77% cheaper, and groceries are 32% cheaper.

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21. United Kingdom

  • Cost of Living Index: 75,85
  • Local purchasing power: 108,54

Residents of the UK pay for food 39% less than in New York, and overall life in this country is 24% cheaper. The British, however, pay more taxes: the income tax rate is 45%.

22. Germany

  • Cost of Living Index: 74,35
  • Local purchasing power: 125,01

Living in Germany is 25% cheaper than in New York. Germany also provides 25% more purchasing power. However, a 47,5% income tax rate makes Germany one of the most taxable countries in the world.

23. United States

  • Cost of Living Index: 72,95
  • Local purchasing power: 127,62

Even though the United States is one of the most expensive countries to live in, overall it is significantly cheaper to live in the United States than in New York City. In the rest of the country, average purchasing power is also 28% higher than in the Big Apple.

24. Canada

  • Cost of Living Index: 72,48
  • Local purchasing power: 118,92

In Canada, the cost of living is comparable to US prices in general. However, compared to New York, Canada offers about 70% savings on rentals and products, which are 29% cheaper. Canadians also pay 4% less income tax.

25 Malta

  • Cost of Living Index: 70,92
  • Local purchasing power: 66,24

Although Malta has a high cost of living, it still has advantages over New York: rent is 71% lower and grocery shopping is 40% lower.

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