Cost of daily necessities

Comparison of worldwide cost of living

Living ist most expensive in the Bermudas and cheapest in Angola. In our ranking of 110 countries all around the world the USA comes 20th.

The cost of living are periodically calculated in nearly representative baskets of consumer goods. But many factors are complicating a worldwide comparison. E.g. a typical apartments dont have a standard size nor fittings. Even the quality of a branded packet of butter isn't the same in the Third World. Consequently, comparisons like this have to to be accepted with caution.

Zusätzlich sollte bei einen Kostenvergleich die Höhe des jeweils vorherrschenden eine Rolle spielen.Additionally, the average income of the single country should play a role in a cost comparison like this.

Cost of living and purchasing power related to average income

We ajusted the average cost of living inside the USA (based on 2020) to an index of 100. All other countries are related to this index. Therefore with an index of e.g. 80, the usual expenses in another country are 20% less then inside the United States.

The monthly income (please do not confuse it with a wage or salary) is calculated from the gross national income per capita.

The calculated purchasing power index is again based on a value of 100 for the United States. If it is higher, people can afford more based on the cost of living in relation to income. If it is lower, so the population is less wealthy.

The example of Switzerland:
With a cost of living index of 143 all goods are on average about 43 percent more expensive than in the USA. But the average income in Switzerland of 7329 USD is also 33% higher, which means that citizens can also afford more goods. Now you calculate the 43% higher costs against the 33% higher income. In the result, people in Switzerland can afford about 7 percent less than a US citizen.

RankCountrycost indexØ Monthly incomePurchasing power index
1Bermuda157.59,812 USD113.4
2Switzerland142.97,329 USD93.3
3Cayman Islands138.05,683 USD75.0
4Turks and Caicos Islands124.62,558 USD37.4
5Barbados121.61,205 USD18.0
6New Caledonia121.41,168 USD17.5
7Israel119.53,589 USD54.7
8Denmark117.35,227 USD81.1
9Iceland115.76,078 USD95.6
10Ireland113.85,289 USD84.7
11Luxembourg113.76,158 USD98.6
12Norway113.06,521 USD105.1
13Bahamas109.52,315 USD38.5
14Australia109.24,478 USD74.6
15Japan106.93,465 USD59.0
16Finland105.64,135 USD71.3
17New Zealand104.53,551 USD61.9
18Sweden103.94,483 USD78.5
19United Kingdom100.73,511 USD63.5
20United States100.05,493 USD100.0
21Canada97.43,620 USD67.7
22Netherlands97.44,418 USD82.6
23Belgium96.33,997 USD75.6
24Austria96.24,283 USD81.0
25France95.43,524 USD67.3
26Germany90.53,915 USD78.8
27Italy84.62,683 USD57.7
28South Korea83.42,738 USD59.8
29Hong Kong80.64,053 USD91.6
30Spain79.92,528 USD57.6
31Singapore74.84,577 USD111.3
32Macao74.86,301 USD153.4
33Portugal74.41,833 USD44.9
34Qatar73.04,684 USD116.8
35United Arab Emirates72.33,623 USD91.2
36Greece71.71,641 USD41.6
37Czechia63.21,828 USD52.6
38Costa Rica61.6955 USD28.2
39China61.3884 USD26.3
40Chile60.71,123 USD33.7
41Kuwait58.83,024 USD93.6
42Croatia58.11,183 USD37.1
43Ecuador54.2461 USD15.5
44Equatorial Guinea53.9484 USD16.4
45Hungary53.81,378 USD46.6
46Mexico51.6707 USD24.9
47Iran51.5239 USD8.5
48Poland49.61,273 USD46.7
49El Salvador49.2304 USD11.3
50Serbia48.2617 USD23.3
51Albania48.1434 USD16.4
52Brazil47.4654 USD25.1
53Montenegro47.2658 USD25.4
54Bulgaria46.6795 USD31.1
55Romania46.11,048 USD41.4
56Saudi Arabia45.11,828 USD73.7
57Botswana44.8553 USD22.5
58Dominican Republic44.6605 USD24.7
59Iraq44.5388 USD15.9
60Suriname44.5459 USD18.8
61Fiji44.4393 USD16.1
62Morocco44.1248 USD10.3
63Namibia43.8377 USD15.6
64Kenya42.9147 USD6.2
65South Africa42.4451 USD19.4
66North Macedonia42.1477 USD20.6
67Timor-Leste41.9153 USD6.6
68Cameroon41.4125 USD5.5
69Colombia41.2482 USD21.3
70Philippines41.0286 USD12.7
71Ivory Coast40.8190 USD8.5
72Senegal40.6119 USD5.3
73Thailand40.6588 USD26.3
74Kosovo40.1370 USD16.8
75Moldova39.2381 USD17.7
76Malaysia39.1882 USD41.1
77Bangladesh38.8168 USD7.9
78Paraguay38.6428 USD20.2
79Eswatini38.3298 USD14.2
80Russia38.0891 USD42.7
81Bolivia37.7267 USD12.9
82Benin36.7107 USD5.3
83Cambodia36.5124 USD6.2
84Nicaragua36.3154 USD7.7
85Laos36.3207 USD10.4
86Indonesia35.9323 USD16.4
87Turkey35.6754 USD38.5
88Nigeria35.4167 USD8.6
89Vietnam35.0222 USD11.5
90Mongolia34.9306 USD15.9
91Kazakhstan34.1723 USD38.6
92Armenia34.1352 USD18.8
93Sri Lanka31.8310 USD17.7
94Georgia31.8358 USD20.5
95Burma31.6105 USD6.0
96Algeria31.1296 USD17.3
97Ukraine30.2295 USD17.8
98Zambia29.699 USD6.1
99Tunisia29.3258 USD16.1
100Azerbaijan29.2371 USD23.1
101Bhutan29.2238 USD14.9
102India28.6158 USD10.1
103Nepal28.199 USD6.4
104Ghana27.0186 USD12.5
105Egypt26.8250 USD17.0
106Kyrgyzstan25.897 USD6.8
107Tajikistan25.188 USD6.4
108Pakistan24.8107 USD7.8
109Angola24.8186 USD13.7

The calculated cost of living index is based on the OECD, the Worldbank, the IMF and Eurostat figures and has been completed by own researches. It does not take into account the differences between poverty and wealth, as well as prices for goods that do not belong to normal needs. Therefore this list should be regarded as a mathematical theorem. Whether it is realistic to survive with a purchasing power index of 5.3 (Benin) does not matter in this table. This would correspond to about one-19th of the purchasing power inside the US.

Quality of life in relation to cost of living

Cost of daily necessitiesIn the search for a potential adopted country, the cost of living usually has the highest priority. However, other factors such as medical care or political stability should also be taken into account. In a further evaluation we compare numerous factors of different countries in order to derive a ranking for the quality of life.

Other indices

There are some other indices, e.g. the study of the swiss bank UBS issued about every 3 years or of the EDA (Federal Departement of Foreign Affairs). Both studies refer only to some few and usually large cities in which UBS and Switzerland have a representation.
Comparison: average incomeAverage income around the worldA comparison of the average income p.c. over 70 countries worldwide
Comparison: quality of lifeQuality of lifeCompare the quality of life around the globe: In which countries is life pleasant, safe and healthy?
tax havensList of the world's most notorious tax havensTax havens magically attract money and hide it from the tax authorities. Even in the middle of Europe and the USA.