Cost of daily necessities

Comparison of worldwide cost of living

Living ist most expensive in the Bermudas and cheapest in the Republic of the Congo. In our ranking of 111 countries all around the world the USA comes 15th.

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 2019 and 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 129 all goods are on average about 29 percent more expensive than in the USA. But the average income in Switzerland of 7125 USD is also 30% higher, which means that citizens can also afford more goods. Now you calculate the 29% higher costs against the 30% higher income. In the result, people in Switzerland can still afford about 0 percent more than a US citizen.

RankCountrycost indexØ Monthly incomePurchasing power index
1Bermuda157.69,811 USD113.5
2Cayman Islands138.03,943 USD52.1
3Switzerland129.57,125 USD100.3
4Iceland125.06,071 USD88.5
5Turks and Caicos Islands124.62,362 USD34.5
6Barbados122.11,448 USD21.6
7New Caledonia119.21,168 USD17.9
8Norway113.66,875 USD110.3
9Israel113.23,593 USD57.8
10Bahamas110.92,788 USD45.8
11Denmark110.85,329 USD87.7
12Ireland106.65,333 USD91.2
13Australia104.94,592 USD79.8
14Luxembourg103.96,159 USD108.0
15United States100.05,488 USD100.0
16Japan99.63,476 USD63.6
17New Zealand99.33,563 USD65.4
18Finland98.94,168 USD76.8
19Sweden96.84,648 USD87.5
20Canada95.23,864 USD74.0
21United Kingdom95.03,518 USD67.5
22Netherlands91.84,425 USD87.8
23Belgium90.74,003 USD80.5
24Austria89.64,288 USD87.2
25France89.33,538 USD72.2
26Germany84.54,048 USD87.3
27Hong Kong80.54,233 USD95.9
28Italy80.12,878 USD65.5
29South Korea79.92,816 USD64.2
30Singapore76.74,966 USD118.0
31Qatar75.95,098 USD122.5
32Spain75.82,533 USD60.9
33United Arab Emirates74.83,623 USD88.3
34Macao74.06,553 USD161.3
35Portugal68.91,933 USD51.1
36Greece67.91,646 USD44.1
37Estonia67.21,938 USD52.6
38Chile63.11,251 USD36.1
39Brazil60.9761 USD22.8
40China60.4866 USD26.1
41Kuwait60.12,799 USD84.9
42Czechia59.11,828 USD56.4
43Costa Rica58.4975 USD30.4
44Peru56.3562 USD18.2
45Croatia55.81,248 USD40.8
46Ecuador55.1508 USD16.8
47Mexico53.8790 USD26.7
48Bahrain53.51,843 USD62.7
49Hungary52.61,375 USD47.7
50Iran52.4442 USD15.4
51Equatorial Guinea51.1538 USD19.2
52El Salvador50.0333 USD12.2
53South Africa47.3503 USD19.4
54Poland47.31,279 USD49.3
55Albania45.1435 USD17.6
56Montenegro44.7755 USD30.8
57Serbia44.3586 USD24.1
58Saudi Arabia44.21,903 USD78.5
59Morocco43.7266 USD11.1
60Colombia43.6543 USD22.7
61Romania43.31,053 USD44.3
62Suriname42.1452 USD19.5
63Timor-Leste41.9168 USD7.3
64Bulgaria41.8798 USD34.8
65Thailand41.8605 USD26.4
66Paraguay41.7460 USD20.1
67Kenya41.7146 USD6.4
68Malaysia40.6936 USD42.0
69Cameroon40.2125 USD5.7
70Ivory Coast40.0191 USD8.7
71Senegal39.8122 USD5.6
72Kosovo39.7387 USD17.7
73Angola39.5247 USD11.4
74Russia39.2938 USD43.6
75Macedonia39.0487 USD22.7
76Philippines38.7321 USD15.1
77Lesotho37.9115 USD5.5
78Bolivia37.8293 USD14.2
79Moldova37.6383 USD18.5
80Bangladesh37.4162 USD7.9
81Nigeria37.3169 USD8.3
82Turkey37.2808 USD39.6
83Nicaragua36.9158 USD7.8
84Zambia36.8119 USD5.9
85Cambodia36.8128 USD6.3
86Indonesia36.7338 USD16.8
87Laos36.4214 USD10.7
88Mongolia36.1316 USD15.9
89Benin35.8104 USD5.3
90Ghana35.3185 USD9.5
91Armenia34.7390 USD20.5
92Vietnam34.3216 USD11.5
93Kazakhstan32.7735 USD40.9
94Algeria32.6334 USD18.7
95Sri Lanka31.5335 USD19.4
96Ukraine31.1281 USD16.4
97India29.9177 USD10.8
98Bhutan29.5262 USD16.2
99Azerbaijan28.8373 USD23.7
100Burma28.6116 USD7.4
101Nepal28.691 USD5.8
102Tunisia27.9281 USD18.4
103Kyrgyzstan27.3103 USD6.9
104Tajikistan27.286 USD5.7
105Georgia26.9398 USD27.0
106Pakistan24.7118 USD8.7
107Egypt22.6224 USD18.1
108Argentina22.5928 USD75.2
109Uzbekistan17.3150 USD15.8
110Congo17.1143 USD15.2

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 80 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.