The results are in and according to a recent report by CEOWORLD Magazine, Switzerland is the most expensive country to live in the world for 2020. While the mountainous Central European hub tops the list, its joined by several other locations throughout Europe, including nine of which dominated the ranking’s top 20 altogether.
CEOWORLD analyzed multiple metrics in order to determine the most expensive countries, noting that it collected and reviewed data from “dozens of studies,” as well as the consumer price index and Numbeo Cost of Living Index. The magazine then compared statistics across various costs of living, examining areas such as accommodations, clothing, transportation, utilities, groceries, dining out and more.
After compiling all of the data and then creating an index to work off of, CEOWORLD then chose New York City to serve as its benchmark, giving the metropolitan an index score of 100. Countries that scored above a 100 were considered “more expensive” than NYC, while scoring below was considered “cheaper.”
Switzerland came in first with a cost of living index falling at 122.4, and was followed by Norway (101.43), Iceland (100.48), Japan (83.35) and Denmark (83) in the top five. Only one North American country, the United States (71.05), made the top 20, while five came from Asia, two from the Caribbean, two from Oceania and one from Africa. Conversely, Pakistan (21.98) came in on the other end of the list as the “most affordable” country, followed by Afghanistan (24.24), India (24.58) and Syria (25.31).
Check out the full top 20 by scrolling below or visit CEOWORLD’s website now to read more on the study.
Elsewhere in travel, many of the aforementioned countries and more are grappling with the coronavirus as it continues to spread worldwide. Several fashion companies including Kering, LVMH, Swarovski and Alibaba donated over $2 billion worth of aid to China in January to help combat the outbreak.
Most Expensive Countries In The World To Live In, 2020:
10. South Korea
11. Hong Kong
17. New Zealand
20. United States