Curious about the monthly cost of living in your country? While averages can give a general idea, it’s important to remember that these figures can vary widely depending on the city, lifestyle choices, and the broader economic conditions of each country. Additionally, since these rankings are based on averages, they may be skewed by cities with a higher concentration of wealthy residents.
Understanding the Numbers Behind Cost of Living Estimates
The cost of living rankings are based on various sources that aggregate data from multiple regions and demographics. These include:
- Numbeo: A leading database for cost of living data, Numbeo provides user-contributed information on monthly expenses around the globe, offering detailed insights into everyday costs.
- Expatistan: This comparison tool collects and compares living expenses from different countries and cities, helping users understand the price differences across the world.
- World Bank: While not exclusively focused on cost of living, the World Bank provides broader economic indicators that can significantly impact living costs, such as inflation and purchasing power parity.
Cost of living (monthly expenses) for one person:
๐จ๐ญ Switzerland: $3,900
๐ณ๐ด Norway: $3,200
๐ฎ๐ธ Iceland: $3,000
๐ฏ๐ต Japan: $2,800
๐ฑ๐บ Luxembourg: $2,700
๐ฉ๐ฐ Denmark: $2,650
๐ธ๐ฌ Singapore: $2,600
๐ฎ๐ช Ireland: $2,500
๐บ๐ธ USA: $2,450
๐ญ๐ฐ Hong Kong: $2,400
๐ซ๐ฎ Finland: $2,350
๐ฆ๐ช UAE: $2,300
๐ฌ๐ง UK: $2,250
๐ธ๐ช Sweden: $2,200
๐ฉ๐ช Germany: $2,150
๐ง๐ช Belgium: $2,100
๐ซ๐ท France: $2,050
๐ณ๐ฑ Netherlands: $2,000
๐จ๐ฆ Canada: $1,950
๐ฆ๐น Austria: $1,900
๐ฆ๐บ Australia: $1,850
๐ณ๐ฟ New Zealand: $1,800
๐ฎ๐น Italy: $1,750
๐ช๐ธ Spain: $1,700
๐ฐ๐ท South Korea: $1,650
๐ฎ๐ฑ Israel: $1,600
๐ต๐น Portugal: $1,550
๐ธ๐ฎ Slovenia: $1,500
๐ต๐ฑ Poland: $1,450
๐จ๐ฟ Czech Republic: $1,400
๐ญ๐บ Hungary: $1,350
๐ฒ๐น Malta: $1,300
๐ฌ๐ท Greece: $1,250
๐น๐ท Turkey: $1,200
๐ง๐ท Brazil: $1,150
๐ฒ๐ฝ Mexico: $1,100
๐น๐ญ Thailand: $1,050
๐ฆ๐ท Argentina: $1,000
๐ฒ๐พ Malaysia: $950
๐ต๐ญ Philippines: $900
๐ป๐ณ Vietnam: $850
๐ฎ๐ณ India: $800
๐ฎ๐ฉ Indonesia: $750
๐ต๐ฐ Pakistan: $700
๐ณ๐ฌ Nigeria: $650
๐ช๐ฌ Egypt: $600
๐ง๐ฉ Bangladesh: $550
๐ฐ๐ช Kenya: $500
๐บ๐ฌ Uganda: $450
Key Takeaway
This is a yardstick for measurement on how you compare to averages in other cities. While these sources offer a useful snapshot of living expenses, it’s essential to consider local variables and personal lifestyle when estimating your actual monthly costs. Whether you’re budgeting for the next month or planning a move, understanding these factors will give you a clearer picture of what to expect financially.