Which are the most expensive countries to live in worldwide? Hold tight, as you’re about to find out.
If you’ve dreamed about moving abroad and starting life afresh in a new country, then read through this list before you do, as you might be shocked to find out just how expensive some of these lesser-known countries are.
We’ve put together this list based on accommodation and living expenses for a single person living in the capital city of each country, and according to population.
Here’s a list of the 10 most expensive countries to live in worldwide…
The 10 Most Expensive Countries to Live in Worldwide
These are the 10 most expensive countries to live in worldwide:
10. Barbados – $2,061
Kicking off our list of the 10 most expensive countries to live in worldwide, is Barbados.
Barbados is a sovereign island nation in the Lesser Antilles of the West Indies, which is the Caribbean region of North America.
It covers approximately 349km² and is 23 kilometres wide and 34 kilometres long, with a total population of 285,719 people.
Barbados is the fourth-most densely populated country in the Americas and, it’s capital city, Bridgetown, has approximately 110,000 people living in it.
To rent a one-bedroom studio apartment in Bridgetown, you’re looking at spending around $500 a month, or $100 a night in an Airbnb.
A basic meal out will cost you no less than $13. A beer is around $6.50 and coffee is approximately $5.00 depending on where you go.
9. Japan – $2,612
The ninth most expensive country to live in worldwide is Japan.
Japan is an archipelago island nation in South-East Asia, made up of 6,852 islands, with a current total population of 126.8 million people.
Of the 6,582 islands, the four largest islands account for the majority of inhabitants, as roughly 97% Japans population live on the four islands.
Japan has many major cities, like Osaka, Yokohoma, Nagoya and Sapporo, which are all populated by more than 2 million people.
However, Tokyo, Japans Capital City and the largest city in Japan, has an approximate population of 37 million people.
To rent a one-bedroom studio apartment in Tokyo, you’re looking at spending in the region of $1,370 a month, or $111 a night in an Airbnb.
Eating out varies in price, but as an average for one person, you should be looking at spending around $15.00 for a basic meal and around $6.00 for a beer.
Coffee is also pretty reasonable, considering how expensive Tokyo is, at $2.81 a cup.
8. Norway – $2,659
Located in Northern Europe, Norway is a Scandinavian country with a total population of 5.3 million people.
Norway shares its borders with Sweden, Russia and Finland, and has a total landmass of 385,203 km².
It’s only the 171st most densely populated country on earth, with roughly 14 people for every square kilometre.
Rent is expensive in Norway’s capital, so renting a one-bedroom studio apartment in Oslo, will set you back around $1,193 a month, or $85 a night in an Airbnb.
You won’t have much change left from $15 when buying a meal out, and a beer will set you back around $9.11.
7. The Bahamas – $2,704
The next most expensive country in the world to live in is The Bahamas.
Made up of over 700 islands, the Bahamas has an approximate population of 389,482 million people living across its 13,943km² landmass.
The largest city in the Bahamas is Nassau, with a total population of 255,000.
If you’re thinking about visiting the Bahamas, then you should budget approximately $950 a month for a one-bedroom studio apartment in the city, or $149 a night for an Airbnb.
You’ll need to take at least $50-$100 with you when you go out for a meal and some drinks, as a basic meal costs around $15-$20 and a beer will cost you around $2.50.
Coffee is a little on the expensive side, at around $5 each.
6. Luxembourg – $2,751
One of the smallest countries on our list, Luxembourg, is also one of the smallest sovereign nations on the planet, and it won’t leave you with a lot of wiggle room when it comes to your monthly expenses.
Luxembourg is a landlocked country, located in western Europe, and has an estimated population of 620,319 people.
Its population is small compared to other countries on the list, however, it has roughly 207 people per square kilometre, making it the 67th most densely populated country on earth.
When you arrive in Luxembourg City, you can expect to pay around $1,322 per month for a one-bedroom studio apartment, or $80 a night in an Airbnb.
Luxembourg seems like it’s slightly more expensive than the Bahamas when it comes to luxuries like beer and coffee, as one beer will cost you around $9 and coffee will set you back $6.
Eating a basic meal out will cost between $17-$25 for one person depending on what you order.
5. Iceland – $2,802
Coming in at number five on our list of the most expensive countries in the world is Iceland.
Iceland is located between the North and Atlantic Oceans and has a total surface area of 103,001 square kilometres.
However, Iceland’s population of 339,949 people, remains relatively low in comparison to others on our list as its harsh geographical landscape proves difficult to live in for many, at times.
As a result, Iceland has the lowest population density of any European country, at just 3 people per kilometre.
Staying in Iceland will cost you approximately $1,236 a month for a one-bedroom studio apartment in the capital city of Reykjavik, or $128 a night in an Airbnb.
Whilst you’re there, eating out will cost you around $12 for a basic meal, $8 for a beer and $2.15 for a cup of coffee.
4. Denmark – $3,312
The southernmost Nordic country in Northern Europe, Denmark, is the fourth most expensive country to live in worldwide.
Denmark, bordered by Germany, Sweden and Norway has a total current population of 5.7 million people.
The Scandinavian countries capital city is Copenhagen, which has an urban population of 1.2 million people, and a metropolitan population of 1.99 million.
Known as one of the happiest places to live on earth, Copenhagen is also a very expensive city to live in.
For a one-bedroom studio apartment, you’re looking at $1,917 a month, or $96 a night in an Airbnb.
Eating out will cost you approximately $18 per person and beers and coffee are anyway between $5.50-$6.50 a pop!
3. Switzerland – $3,162
Switzerland is the third most expensive country to live in worldwide.
With more than 8.6 million people living across, 41,285 square kilometres, Switzerland is the 95th most populated country in the world, and the 135th largest country in terms of the total landmass.
Switzerland has a number of beautiful cities to live in, like it’s capital, Bern, and it’s the largest city, Zurich.
Bern has approximately 133,000 people living there and accommodation for a month in Bern, for one person, will cost in the region of $1,366, or $86 a night in an Airbnb.
A meal out will cost you approximately $15-$20, with an additional beer costing around $6.00 and coffee costing around $5.00 a cup.
2. Cayman Islands – $3,387
The Cayman Islands is the second most populated British overseas territory in the world, just behind Bermuda.
It is located in the western end of the Caribbean sea and has a total current population of approximately 63,000 people.
It’s made up of a number of islands like Grand Cayman, Little Cayman and Cayman Brac.
The Cayman Islands are well known for housing offshore companies, and it’s believed that there are over 100,000 companies registered in the Cayman Islands.
If you’re considering doing business in George Town, the capital city of the Cayman Islands, then a one-bedroom studio apartment will cost you around $1,924 a month or $83 a night in an Airbnb.
Food and drink on the island are where you might spend a lot of your money.
A basic meal out will cost you at least $20-$30, with beer costing around $8.00 and coffee costing around $7 a cup.
1. Bermuda – $5,011
At over $5,000 a month for accommodation and living expenses, Bermuda is the most expensive place to live in worldwide.
Similar to the Cayman Islands, Bermuda is another British territory located in the North Atlantic.
Bermuda has a total population of approximately 65,000 people living across a total landmass of 20.5 square miles.
Its capital city, Hamilton, is also Bermudas only incorporated city and has a current population of just over 1,000 people.
When looking for accommodation in the city, you’re going to need some deep pockets, as a one-bedroom studio apartment will cost you around $2,675 a month, or $212 a night in an Airbnb.
If you’re a drinker, then get prepared to spend some cash, as one glass of beer will cost you a minimum of $10, and dinner will be around $20-$30 per person.
Bermuda is the most expensive country to live in worldwide.
We hope you enjoyed our list of the 10 most expensive countries to live in worldwide.
Well, there you have it, those were some super expensive countries to live in.
Living in those countries might make you think twice about drinking alcohol, on a regular occasion, and make you sharpen the purse strings a bit more.
However, it’s all relative and depends on your disposable income and expenses.
So, if you’re still planning on moving to, or even visiting one of these countries long term, then at least you know what to expect.
Here’s a quick recap of the 10 most expensive countries to live in worldwide:
- Bermuda – $5,011
- Cayman Islands – $3,387
- Switzerland – $3,162
- Denmark – $3,312
- Iceland – $2,802
- Luxembourg – $2,751
- The Bahamas – $2,704
- Japan – $2,612
- Norway – $2,291
- Barbados – $2,061