Top 5 Most Expensive Countries to Live In
Alexander Djerassi is an entrepreneur who has managed to travel to different nations over the years. If you ask people the most expensive area to live in, they will most likely say New York.
Well, New York is only a city. In this article, the main focus is on the most expensive nation to live in. Although a nation has affordable rent and the food is also cheap, some regions will be pricey in such countries. The low wages, high transportation costs, and high taxes normally contribute to the high cost of living.
In the most expensive countries to live in, you’ll struggle to cater to the cost of living. We’ll focus on the local purchasing power in each nation. You’ll get to understand more about what one dollar can purchase. If the purchasing power is low and the cost of living is high, the country will be highly ranked as one of the most expensive nations.
In Switzerland, the cost of living is high. The groceries in the nation are quite expensive. The global income tax is high. You’re being taxed for living in your own house. Nevertheless, the citizens of Switzerland get to enjoy the purchasing power in the nation since it is higher than most regions.
The cost of living is high. The purchasing power is also high. Some items are more expensive in Israel as compared to other places.
3. The Bahamas
The cost of living on an island is high. The main issue is that most goods are imported, and the prices of the groceries will be higher than usual. The local produce isn’t as expensive.
The cost of living is lower as compared to regions such as New York City. The rent is also cheaper than some of the most expensive areas to live in globally. Additionally, the groceries are also affordable, and at least a half of the population does not eat out. The purchasing power in the nation is also among the main factors to consider since it is better than other regions or nations.
For most people, including Alexander Djerassi, island life is desirable since it equates to paradise. The main issue is that some logistical difficulties come about, and they normally contribute to the nation being among the most expensive ones to live in. The local purchasing power is currently lower than 51.10. Island life has also affected the education system in the nation. The government of Barbados has invested a significant sum of money into the education system that is currently owned by the state. The literacy level in Barbados is currently at 99.7 percent, and it is among the highest globally.
For those who are yet to understand how we determine which are the most expensive nations to live in, the main factors to consider include the purchasing power of the citizens and the cost of living. By looking into each of these factors, we have managed to list the top five most expensive countries to live in.