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 and 2021) 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 6885 USD is also 28% higher, which means that citizens can also afford more goods. Now you calculate the 43% higher costs against the 28% higher income. In the result, people in Switzerland can afford about 10 percent less than a US citizen.

RankCountrycost indexØ Monthly incomePurchasing power index
1Bermuda157.59,353 USD110.4
2Switzerland142.96,885 USD89.5
3Cayman Islands138.05,333 USD71.9
4Turks and Caicos Islands124.62,521 USD37.6
5Barbados121.61,196 USD18.3
6New Caledonia121.41,168 USD17.9
7Israel119.53,550 USD55.2
8Denmark117.35,251 USD83.2
9Iceland115.75,202 USD83.6
10Ireland113.85,468 USD89.4
11Luxembourg113.76,738 USD110.2
12Norway113.06,524 USD107.3
13Bahamas109.52,173 USD36.9
14Australia109.24,474 USD76.1
15Japan106.93,363 USD58.5
16Finland105.64,148 USD73.0
17New Zealand104.53,463 USD61.6
18Sweden103.94,504 USD80.6
19United Kingdom100.73,308 USD61.1
20United States100.05,379 USD100.0
21Canada97.43,628 USD69.2
22Netherlands97.44,255 USD81.2
23Belgium96.33,813 USD73.6
24Austria96.24,029 USD77.8
25France95.43,290 USD64.1
26Germany90.53,956 USD81.3
27Italy84.62,691 USD59.1
28South Korea83.42,747 USD61.2
29Hong Kong80.54,053 USD93.6
30Spain79.92,280 USD53.1
31Singapore74.84,577 USD113.7
32Macao74.86,308 USD156.8
33Portugal74.41,816 USD45.4
34Qatar73.04,666 USD118.8
35United Arab Emirates72.33,284 USD84.4
36Greece71.71,494 USD38.7
37Latvia64.01,490 USD43.3
38Czechia63.21,839 USD54.1
39Costa Rica61.6961 USD29.0
40China61.3879 USD26.7
41Chile60.71,123 USD34.4
42Croatia58.11,211 USD38.8
43Ecuador54.2461 USD15.8
44Equatorial Guinea53.9484 USD16.7
45Hungary53.81,324 USD45.7
46Mexico51.6707 USD25.4
47Iran51.5247 USD8.9
48Poland49.61,270 USD47.6
49El Salvador49.2303 USD11.4
50Serbia48.2618 USD23.9
51Albania48.1434 USD16.8
52Brazil47.4654 USD25.6
53Montenegro47.2658 USD25.9
54Bulgaria46.6803 USD32.0
55Romania46.11,048 USD42.3
56Saudi Arabia45.11,828 USD75.3
57Botswana44.8553 USD23.0
58Dominican Republic44.6605 USD25.2
59Suriname44.5385 USD16.1
60Fiji44.4408 USD17.0
61Iraq44.3390 USD16.4
62Morocco44.1248 USD10.5
63Namibia43.8375 USD15.9
64Kenya42.9153 USD6.6
65South Africa42.4501 USD22.0
66North Macedonia42.1479 USD21.1
67Timor-Leste41.9166 USD7.4
68Cameroon41.4127 USD5.7
69Colombia41.2483 USD21.8
70Philippines41.0286 USD13.0
71Ivory Coast40.8190 USD8.7
72Senegal40.6119 USD5.4
73Thailand40.6587 USD26.8
74Kosovo40.1373 USD17.3
75Moldova39.2380 USD18.0
76Malaysia39.1881 USD41.9
77Bangladesh38.8169 USD8.1
78Paraguay38.6432 USD20.8
79Eswatini38.3284 USD13.8
80Russia38.0891 USD43.6
81Bolivia37.7265 USD13.1
82Cambodia37.1125 USD6.3
83Benin36.7107 USD5.4
84Nicaragua36.3154 USD7.9
85Laos36.3210 USD10.8
86Indonesia35.9323 USD16.7
87Turkey35.6754 USD39.4
88Nigeria35.4167 USD8.8
89Vietnam35.0221 USD11.7
90Mongolia34.9312 USD16.6
91Kazakhstan34.1726 USD39.6
92Armenia34.1352 USD19.2
93Sri Lanka31.8310 USD18.1
94Georgia31.8356 USD20.8
95Burma31.6113 USD6.6
96Algeria31.1298 USD17.8
97Ukraine30.2295 USD18.2
98Zambia29.697 USD6.1
99Tunisia29.3275 USD17.5
100Azerbaijan29.2373 USD23.7
101Bhutan29.2237 USD15.1
102Ghana29.0195 USD12.5
103India28.6160 USD10.4
104Nepal28.199 USD6.6
105Egypt26.8250 USD17.4
106Kyrgyzstan25.897 USD7.0
107Tajikistan25.188 USD6.5
108Pakistan24.8106 USD7.9
109Angola24.8178 USD13.4

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 5.4 (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 67 countries worldwide
Comparison: quality of lifeQuality of life in country comparisonCompare 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.