Bermuda is the most expensive place to live in the world, with monthly living expenses exceeding $5,000. Bermuda, like the Cayman Islands, is a British territory in the North Atlantic.
Bermuda has a population of approximately 65,000 people spread across 20.5 square miles of land. Hamilton, Bermuda’s capital city, is also the island’s only incorporated city, with a population of just over 1,000 people.
When looking for a place to stay in the city, you’ll need some serious cash, as a one-bedroom studio apartment will set you back around $2,675 per month, or $212 per night on Airbnb.
If you like to drink, expect to pay at least $10 for a glass of beer, and dinner will cost you between $20 and $30 per person. Bermuda is the most expensive country in the world to live in.
2. Cayman Islands – $3,387
The Cayman Islands are the world’s second-most populous British overseas territory, trailing only Bermuda. It is situated at the western end of the Caribbean Sea and has a current population of around 63,000 people.
It comprises several islands, including Grand Cayman, Little Cayman, and Cayman Brac. The Cayman Islands are well known for housing offshore companies, and it is estimated that over 100,000 companies are registered there.
If you want to do business in George Town, the Cayman Islands’ capital city, a one-bedroom studio apartment will cost you around $1,924 per month or $83 per night on Airbnb. On the island, you may spend a lot of money on food and drink.
A basic meal out will set you back at least $20-$30, with beer around $8.00 and coffee around $7 per cup.
3. Switzerland – $3,162
Switzerland is the world’s third most expensive country to live in. Switzerland is the 95th most populated country in the world, with over 8.6 million people living across 41,285 square kilometers, and the 135th largest country in terms of total landmass.
Switzerland’s capital, Bern, and its largest city, Zurich, are both beautiful places to live. Bern has approximately 133,000 residents, and a month’s accommodation in Bern for one person will cost around $1,366, or $86 per night in an Airbnb.
A meal out will cost you between $15 and $20, with an additional beer costing around $6.00 and coffee costing around $5.00 per cup.
4. Denmark – $3,312
Denmark, the southernmost Nordic country in Northern Europe, is the world’s fourth most expensive country to live in. Denmark has a current population of 5.7 million people and is bordered by Germany, Sweden, and Norway.
Copenhagen, the capital city of the Scandinavian countries, has a population of 1.2 million people and a metropolitan population of 1.99 million. Copenhagen, known as one of the happiest places on the planet, is also a very expensive city to live in.
A one-bedroom studio apartment costs $1,917 per month, or $96 per night on Airbnb. Eating out will cost you about $18 per person, and beers and coffee will cost you between $5.50 and $6.50.
5. Iceland – $2,802
Iceland ranks fifth on our list of the most expensive countries in the world. Iceland has a total surface area of 103,001 square kilometers and is located between the North and Atlantic Oceans. However, Iceland’s population of 339,949 people remains relatively low in comparison to others on our list, as its harsh geographical landscape makes it difficult for many people to live in at times.
As a result, Iceland has the lowest population density in Europe, with only 3 people per kilometer. Staying in Iceland will cost you around $1,236 per month for a one-bedroom studio apartment in Reykjavik’s capital city, or $128 per night in an Airbnb. While you’re there, a basic meal will cost you around $12, a beer will cost you $8, and a cup of coffee will cost you $2.15.
6. Luxembourg – $2,751
Luxembourg, one of the smallest countries on our list, is also one of the world’s smallest sovereign nations, and it won’t leave you with much wiggle room when it comes to monthly expenses. Luxembourg is a landlocked country in Western Europe with a population of 620,319 people.
Its population is small in comparison to the other countries on the list, but it has approximately 207 people per square kilometer, making it the 67th most densely populated country on the planet. You can expect to pay around $1,322 per month for a one-bedroom studio apartment in Luxembourg City, or $80 per night in an Airbnb.
When it comes to luxuries like beer and coffee, Luxembourg appears to be slightly more expensive than the Bahamas, with one beer costing around $9 and coffee costing around $6. A basic meal for one person will cost between $17 and $25, depending on what you order.
7. The Bahamas – $2,704
The Bahamas is the world’s second most expensive country to live in. The Bahamas, which is made up of over 700 islands, has a population of 389,482 million people spread across its 13,943km2 landmass.
Nassau is the largest city in the Bahamas, with a population of 255,000 people. If you want to visit the Bahamas, you should budget around $950 per month for a one-bedroom studio apartment in the city, or $149 per night for an Airbnb.
When you go out for a meal and some drinks, you should bring at least $50-$100 with you, as a basic meal costs around $15-$20 and a beer costs around $2.50.
Coffee is a little pricey, costing around $5 per cup.
8. Norway – $2,659
Norway is a Scandinavian country with a population of 5.3 million people located in Northern Europe. Norway has a total landmass of 385,203km2 and borders Sweden, Russia, and Finland.
It is only the 171st most densely populated country on the planet, with about 14 people per square kilometer. Rent in Norway’s capital is expensive, so renting a one-bedroom studio apartment in Oslo will cost you around $1,193 per month, or $85 per night on Airbnb.
When you buy a meal out, you won’t have much change left over from $15, and a beer will cost you around $9.11.
9. Japan – $2,612
Japan is the ninth most expensive country in the world to live in. Japan is a South-East Asian archipelago island nation comprised of 6,852 islands, with a current population of 126.8 million people. The four largest islands account for the majority of the 6,582 islands’ inhabitants, accounting for roughly 97 percent of Japan’s population.
Japan has many major cities with populations of over 2 million people, including Osaka, Yokohoma, Nagoya, and Sapporo. However, Tokyo, Japan’s capital and largest city, has a population of around 37 million people. Renting a one-bedroom studio apartment in Tokyo will cost you around $1,370 per month, or $111 per night on Airbnb.
The cost of eating out varies, but on average for one person, you should budget around $15.00 for a basic meal and $6.00 for a beer. Coffee is also reasonably priced, especially considering how expensive Tokyo is, at $2.81 per cup.
10. Barbados – $2,061
Barbados tops our list of the ten most expensive countries to live in the world. Barbados is a sovereign island nation in the Caribbean region of North America’s Lesser Antilles of the West Indies. It has a total population of 285,719 people and covers approximately 349km2. It is 23 kilometers wide and 34 kilometers long.
Barbados is the fourth most densely populated country in the Americas, with approximately 110,000 people living in its capital city, Bridgetown. A one-bedroom studio apartment in Bridgetown will cost you around $500 per month, or $100 per night on Airbnb.
A simple meal out will set you back no less than $13. Depending on where you go, a beer will cost around $6.50 and coffee will cost around $5.00.
Summary
We hope you enjoyed our list of the world’s ten most expensive countries to live in. So there you have it, some extremely expensive countries to live in. Living in those countries may cause you to reconsider drinking alcohol on a regular basis, as well as tighten your purse strings a little more.
However, everything is relative and is determined by your disposable income and expenses. So, if you’re still thinking about moving to or visiting one of these countries in the long run, you now know what to expect.
