
Comparison of worldwide cost of living
Living ist most expensive in the Bermudas and cheapest in Tajikistan. In our ranking of 111 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.
In addition, the level of the prevailing average income should play a role in a cost comparison.
Cost of living and purchasing power related to average income
We adjusted the average cost of living inside the USA (based on 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 145 all goods are on average about 45 percent more expensive than in the USA. But the average income in Switzerland of 6885 USD is also 29% higher, which means that citizens can also afford more goods. Now you calculate the 45% higher costs against the 29% higher income. In the result, people in Switzerland can afford about 11 percent less than a US citizen.
Rank | Country | cost index | Ø Monthly income | Purchasing power index |
---|---|---|---|---|
1 | Bermuda | 157.6 | 9,353 USD | 111.1 |
2 | Switzerland | 144.7 | 6,885 USD | 89.0 |
3 | Cayman Islands | 138.0 | 5,333 USD | 72.3 |
4 | Israel | 132.5 | 3,551 USD | 50.1 |
5 | Iceland | 126.9 | 5,201 USD | 76.7 |
6 | New Caledonia | 125.8 | 1,101 USD | 16.4 |
7 | Turks and Caicos Islands | 124.6 | 2,521 USD | 37.9 |
8 | Norway | 123.8 | 6,524 USD | 98.6 |
9 | Barbados | 121.5 | 1,196 USD | 18.4 |
10 | Denmark | 121.1 | 5,251 USD | 81.1 |
11 | Ireland | 120.6 | 5,479 USD | 85.0 |
12 | Australia | 117.8 | 4,473 USD | 71.1 |
13 | New Zealand | 114.3 | 3,463 USD | 56.7 |
14 | Luxembourg | 114.0 | 6,759 USD | 111.0 |
15 | Sweden | 109.8 | 4,504 USD | 76.7 |
16 | Finland | 109.3 | 4,150 USD | 71.1 |
17 | United Kingdom | 107.5 | 3,319 USD | 57.8 |
18 | Canada | 105.5 | 3,628 USD | 64.3 |
19 | Japan | 103.7 | 3,363 USD | 60.7 |
20 | United States | 100.0 | 5,345 USD | 100.0 |
21 | Netherlands | 99.8 | 4,256 USD | 79.8 |
22 | Belgium | 98.2 | 3,817 USD | 72.7 |
23 | France | 97.5 | 3,292 USD | 63.2 |
24 | Austria | 96.7 | 4,030 USD | 78.0 |
25 | Germany | 92.1 | 3,960 USD | 80.4 |
26 | Italy | 87.3 | 2,697 USD | 57.8 |
27 | South Korea | 84.6 | 2,744 USD | 60.7 |
28 | Spain | 84.1 | 2,280 USD | 50.8 |
29 | Hong Kong | 77.9 | 4,053 USD | 97.3 |
30 | Portugal | 77.1 | 1,818 USD | 44.1 |
31 | Greece | 76.1 | 1,496 USD | 36.8 |
32 | Singapore | 75.0 | 4,577 USD | 114.1 |
33 | Macao | 75.0 | 6,308 USD | 157.4 |
34 | United Arab Emirates | 72.3 | 3,284 USD | 84.9 |
35 | Qatar | 71.4 | 4,666 USD | 122.3 |
36 | Czechia | 68.4 | 1,839 USD | 50.3 |
37 | China | 63.2 | 879 USD | 26.0 |
38 | Chile | 61.8 | 1,123 USD | 34.0 |
39 | Croatia | 61.1 | 1,211 USD | 37.1 |
40 | Costa Rica | 57.7 | 961 USD | 31.2 |
41 | Hungary | 56.0 | 1,324 USD | 44.2 |
42 | Equatorial Guinea | 55.9 | 484 USD | 16.2 |
43 | Mexico | 53.0 | 707 USD | 25.0 |
44 | Albania | 52.6 | 434 USD | 15.4 |
45 | Iran | 52.4 | 247 USD | 8.8 |
46 | Ecuador | 51.9 | 461 USD | 16.6 |
47 | Montenegro | 51.7 | 658 USD | 23.8 |
48 | Serbia | 50.6 | 619 USD | 22.9 |
49 | Brunei | 50.4 | 2,626 USD | 97.5 |
50 | Poland | 50.2 | 1,272 USD | 47.4 |
51 | Peru | 48.7 | 503 USD | 19.3 |
52 | El Salvador | 48.6 | 303 USD | 11.6 |
53 | Bulgaria | 47.4 | 803 USD | 31.7 |
54 | South Africa | 47.1 | 501 USD | 19.9 |
55 | Romania | 47.1 | 1,050 USD | 41.7 |
56 | Brazil | 46.9 | 654 USD | 26.1 |
57 | Dominican Republic | 45.8 | 605 USD | 24.7 |
58 | Morocco | 45.0 | 252 USD | 10.5 |
59 | Jordan | 45.0 | 359 USD | 14.9 |
60 | Fiji | 44.6 | 408 USD | 17.1 |
61 | Saudi Arabia | 44.5 | 1,828 USD | 76.9 |
62 | North Macedonia | 44.0 | 479 USD | 20.4 |
63 | Mauritius | 43.3 | 853 USD | 36.8 |
64 | Senegal | 42.7 | 119 USD | 5.2 |
65 | Eswatini | 42.7 | 284 USD | 12.4 |
66 | Ivory Coast | 42.7 | 190 USD | 8.3 |
67 | Kenya | 42.3 | 153 USD | 6.8 |
68 | Cameroon | 41.9 | 127 USD | 5.7 |
69 | Timor-Leste | 41.9 | 166 USD | 7.4 |
70 | Philippines | 41.3 | 286 USD | 13.0 |
71 | Kosovo | 41.0 | 370 USD | 16.9 |
72 | Colombia | 40.9 | 483 USD | 22.1 |
73 | Bangladesh | 39.0 | 169 USD | 8.1 |
74 | Malaysia | 38.8 | 881 USD | 42.5 |
75 | Paraguay | 38.6 | 432 USD | 20.9 |
76 | Benin | 38.6 | 107 USD | 5.2 |
77 | Moldova | 38.5 | 380 USD | 18.5 |
78 | Thailand | 38.4 | 587 USD | 28.6 |
79 | Ghana | 37.3 | 195 USD | 9.8 |
80 | Iraq | 36.8 | 390 USD | 19.8 |
81 | Cambodia | 36.6 | 125 USD | 6.4 |
82 | Bolivia | 36.2 | 265 USD | 13.7 |
83 | Russia | 36.2 | 891 USD | 46.1 |
84 | Nicaragua | 35.8 | 154 USD | 8.1 |
85 | Indonesia | 35.4 | 323 USD | 17.0 |
86 | Mongolia | 35.3 | 312 USD | 16.5 |
87 | Suriname | 35.0 | 385 USD | 20.6 |
88 | Vietnam | 34.5 | 221 USD | 12.0 |
89 | Armenia | 33.8 | 352 USD | 19.5 |
90 | Laos | 33.5 | 210 USD | 11.7 |
91 | Nigeria | 33.5 | 167 USD | 9.3 |
92 | Kazakhstan | 33.1 | 726 USD | 41.0 |
93 | Georgia | 32.2 | 355 USD | 20.6 |
94 | Tunisia | 30.9 | 275 USD | 16.6 |
95 | Bhutan | 30.0 | 237 USD | 14.8 |
96 | Ukraine | 29.9 | 298 USD | 18.6 |
97 | Algeria | 29.9 | 298 USD | 18.6 |
98 | Azerbaijan | 29.8 | 373 USD | 23.5 |
99 | Sri Lanka | 29.8 | 310 USD | 19.5 |
100 | Turkey | 29.3 | 754 USD | 48.1 |
101 | India | 28.7 | 160 USD | 10.4 |
102 | Nepal | 28.1 | 99 USD | 6.6 |
103 | Zambia | 27.2 | 97 USD | 6.7 |
104 | Egypt | 27.0 | 250 USD | 17.3 |
105 | Burma | 27.0 | 113 USD | 7.8 |
106 | Pakistan | 25.8 | 106 USD | 7.7 |
107 | Ethiopia | 24.5 | 74 USD | 5.7 |
108 | Kyrgyzstan | 23.7 | 98 USD | 7.7 |
109 | Angola | 23.0 | 178 USD | 14.5 |
110 | Tajikistan | 22.8 | 88 USD | 7.2 |
The calculated cost of living index is based on the OECD, the Worldbank, the IMF and Eurostat figures and has been completed by our 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 5.2 (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
