Top 5 Most Expensive Countries in the World

Here in America, at the mention of such cities as New York, Los Angeles, and Chicago, we think dollar signs. Life is expensive in those cities and many of us complain that it is nearly impossible to earn a well-off wage and pay for a regular four bedroom home. But, it could be worse. Following are the most expensive countries on our planet, according to aneki.com

5. Norway comes in as the fifth most expensive country in the world. A good portion of its citizen’s income is spent on housing. Monthly groceries for a typical Norwegian family costs roughly $1,400. Dinner at an inexpensive restaurant for one averages from $15-20 while a trip to the local movie theatre is averages from $10-15. A typical 3 star hotel in Oslo costs a whooping $130 a night, starting at the smallest hotel room, facing the backstreet. Think gas is cheap in this oil abundant nation? One gallon costs $6.27.

High prices go hand in hand with this country’s high standard of living. Hourly wages are extremely high to attract workers that would get the same pay in Norway’s oil or fishing industry. Their products are expensive because manpower is expensive. Most of the money goes to welfare and free health care. But to Norwegians, their pricey lifestyle is just something that takes time accommodating to.

4. Taiwan compared to most Asian countries, is relatively expensive, but its low tax rates and high worker’s wage make up for it. An alcohol drink in a regular town bar can cost you up to $8 and main courses at average-joe establishments go up to $18. A studio apartment in Taiwan averages about $500, which at first may sound affordable, but with its GDP per capita being $29,000, one realizes that that is a real slap in the wallet. Gasoline in Taiwan averages $2.90 a gallon, a lot for such a small nation.

It has the same high standard and cost of living as New York, which is slightly higher than the rest of America. An efficient welfare system and top-notch education balances out this pricey island nation. But one must take to mind that the cost of living implies the whole nation of Taiwan, not just a city.

3. Russia is Europe’s most costly country to live in, with Moscow being Europe’s most expensive city. While food items and gasoline are relatively cheap (65 cents for a dozen eggs and $2 per gallon of gas), housing is not. Construction is the most costly in Russia, double of the cost needed to build in South America and Asia. Labor has to be brought from out of the country, skyrocketing prices of homes and apartments. A 4 bedroom 10km from Moscow carries a price tag of $730,000.

The average Russian makes $300 a month, not enough for the prices of housing. How do the Russians live under such constraining conditions? Most inherit property their families owned during the Soviet times. Since the fall of communism, prices have shot through the rough.

2. South Korea’s housing costs are unbearable. Studios go for $2,500 a month and houses and large apartments go up to $14,000 a month. Just like Russia, food is affordable and abundant. Electronics are very economic as well, but the wages do not match up with the housing costs. The average South Korean makes 16 grand a year, divided by 12, is roughly $1,300 a month, not enough to cover the rent on an apartment.