Most Expensive Countries to Live In 2024

Most Expensive Countries to Live In 2024
Looking at the world's most expensive places to live, two distinct groups emerge. One group comprises alluring vacation destinations like Monaco, the Cayman Islands, and Bermuda. The other group consists of Northern European countries such as Switzerland, Iceland, and Norway.
Bermuda, a British island territory, takes the top spot in two out of three surveys, boasting the highest cost of living score (141.1 on Numbeo). Its capital, Hamilton, is particularly expensive, with a 900-square-foot apartment costing a staggering $4,058 per month.
Switzerland also consistently ranks high, holding the dubious honor of having the most expensive food prices within the European Union. Similarly, Iceland's remoteness inflates consumer goods due to higher shipping costs compared to mainland Europe. However, Icelanders enjoy a significant perk - consistent ranking as the world's safest country, somewhat balancing the cost of living.
Norway, appearing on two lists, offers a more nuanced picture. While expensive, it boasts high wages and significantly smaller income disparities compared to the United States. Additionally, many professions like service industry, education, and public sector jobs offer a living wage. Norway also implements a progressive tax system, which, while imposing high taxes, provides citizens with free universal healthcare and free college education.
Interestingly, the United States only makes it to the top 10 in one survey. Although major cities like New York, San Francisco, and Chicago contribute to its high cost of living, lower costs in rural areas bring down the overall national average.
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