Cost Of Living By Country

When mulling over a move to a new city or country, one of the biggest deciding factors is often the cost of living. This vital statistic gives us insight into how much we need to earn to cover our necessities and comforts, from housing and healthcare to food and leisure activities. It also gives us a glimpse into how our chosen country compares to others around the world in terms of affordability and lifestyle.

To dive into these numbers, we've analyzed the data of average monthly costs from a dataset that includes 193 countries around the world. The monthly cost ranges strikingly from a high of $3,743 in Monaco down to just $354 in Afghanistan—the lowest on the list.

• Monaco tops the list, followed by the Cayman Islands, Switzerland, and Ireland. These regions have a strong economy and higher-than-average incomes, which could explain their ranking.
• However, wealth doesn't automatically equate to a high cost of living. Though the United States is one of the richest countries in the world, its cost of living ranks 10th on our list.
• Cost of Living varies within regions too. For instance, in the Middle East, the cost ranges from $1,856 in Qatar to $559 in Yemen.
• Developed nations in Europe have a generally high cost of living; however, there are notable exceptions, suggesting regional economic factors play a significant role. For instance, Belarus has a far lower cost of living than its European neighbors.