Top 10 Most Expensive Countries to Live In—Ranked

Switzerland: Where Luxury Is Everyday Life

If you’ve ever wondered what it’s like to live in a postcard, Switzerland is your answer—stunning, safe, and shockingly pricey. In 2024, Zurich and Geneva once again topped the Mercer Cost of Living Survey, with average monthly expenses for a single person soaring well over $2,000.

Rent alone can snatch $2,500 from your wallet just for a modest one-bedroom in the city center. Groceries like cheese and chocolate (ironically, local products) aren’t cheap either, and dining out feels like a luxury, with a mid-range dinner for two often crossing $100.

Public transport and healthcare are world-class, but they come at a cost, as even a basic train ticket can feel like a splurge. Despite these sky-high numbers, Switzerland’s quality of life is so high that many residents see the price as worth every franc.

For expats, the sticker shock is real, but the safety, cleanliness, and efficiency are hard to match anywhere else.

Norway: A Land of Natural Beauty and Steep Costs

Norway’s majestic fjords and midnight sun draw millions of tourists, but living here digs deep into your bank account. Oslo’s city-center rents average $1,800 per month, and even simple pleasures like a cappuccino can cost $5.

According to the 2024 Numbeo Cost of Living Index, Norway remains one of Europe’s most expensive countries, with a single person’s monthly expenses typically reaching $1,800 or more. Groceries, especially imported goods, are pricey due to high taxes and the country’s remote geography.

Transportation costs, both public and private, are high, with gas prices among the steepest in the world. On the upside, Norwegians benefit from exceptional healthcare and education funded by these high living costs.

Many locals feel this social security is a fair trade, but expats often take a while to adjust to the sticker prices on everyday items.

Iceland: The Island of Fire, Ice, and High Prices

Living in Iceland can feel like living on another planet, both for its landscapes and its living costs. In 2024, rents in Reykjavik were close to $1,600 per month for a modest apartment, with total monthly expenses for singles often surpassing $1,700.

The country’s isolation means nearly everything must be imported, which drives up the price of groceries—think $3 for a loaf of bread and $2 for a single apple. Utilities are reliable but not cheap, and eating out can make your eyes water, with dinner for two easily topping $80.

The OECD continues to rank Iceland as one of the world’s most expensive places to live, especially when compared to its small population. Despite all this, Iceland’s unique culture and sense of community draw people in.

Residents are fiercely proud of their lifestyle, often citing the dramatic nature and close-knit society as reasons to stay, no matter the cost.

Australia: Sun, Surf, and Steep Costs

Australia’s reputation for an easygoing lifestyle comes with a surprisingly hefty price tag. Sydney and Melbourne, in particular, are notorious for high living expenses.

As reported by the 2024 Economist Intelligence Unit’s Global Liveability Index, monthly costs for singles often reach $1,600, with Sydney’s city-center rents frequently at $2,800 per month. Eating out is a treat, not a habit, as a meal at a mid-range restaurant easily costs $25 per person.

Utilities, transportation, and groceries are all higher than the global average, and even public transport can take a bite out of your budget. While salaries are generally competitive, many residents admit that saving money feels like running a marathon in sand.

Still, the lure of a high quality of life, world-class beaches, and a vibrant cultural scene keeps people coming back—or staying for good.

Denmark: Hygge at a Hefty Price

Denmark’s famous ‘hygge’ lifestyle—a sense of cozy contentment—comes with a high price tag, especially in Copenhagen. According to the 2024 Numbeo Cost of Living Index, a single person can expect to spend around $1,800 per month, not including rent.

Central apartments start at $1,900 monthly, and even basic groceries like milk and bread are costlier than in neighboring countries. Dining out can feel extravagant, with a single meal costing $30 or more.

Transportation is efficient but expensive, and high taxes fund Denmark’s robust welfare state. While some grumble about the costs, many Danes feel the benefits—like free healthcare and education—are worth every krone.

It’s a trade-off that fosters contentment, but newcomers are often surprised by how quickly expenses add up.

Singapore: Tiny City, Towering Prices

Singapore may be small, but its cost of living is anything but. According to the 2024 Mercer Cost of Living Survey, the average single resident spends about $1,800 a month, with central city rents hovering at $2,500 for a one-bedroom apartment.

Food is a mixed bag; while hawker centers offer cheap eats, restaurants, groceries, and imported goods can be eye-wateringly expensive. Transportation is efficient but not cheap, and owning a car is almost a luxury—certificate of entitlement (COE) fees can add tens of thousands to a car’s price.

Despite the cost, Singapore’s safety, world-class healthcare, and buzzing nightlife make it an attractive choice for expats. Many locals and newcomers alike agree that the city-state’s efficiency and multicultural vibe help soften the blow to the wallet.

Hong Kong: Skyline Dreams, Sky-High Prices

Hong Kong is a city where space is a luxury and every square foot comes at a premium. In 2024, rents in the heart of the city averaged $3,000 for a one-bedroom, and even smaller flats outside the center saw steep price tags.

Day-to-day living isn’t much easier—groceries, utilities, and transportation all cost more than in most Asian cities. A meal at a mid-range restaurant typically hits $30, while public transport, though efficient, quickly adds up for daily commuters.

The Economist Intelligence Unit’s 2024 Global Liveability Index places Hong Kong consistently among the priciest cities worldwide. Residents often joke that living here is “paying for the view,” but the city’s vibrant culture, energetic business scene, and international flair keep people coming back, despite the costs.

Japan: Tradition and Modernity at a Premium

Japan, and especially Tokyo, is a place where old and new collide—and so do your expenses. In 2024, the average cost of living for a single person was around $1,700 per month, with Tokyo’s city-center rents averaging $2,000.

Groceries and utilities can feel expensive, partly due to import costs, while transportation—though among the world’s best—isn’t cheap. A meal at a mid-range restaurant costs about $25, and entertainment options, from karaoke to sumo wrestling, add up quickly.

The 2024 Mercer Cost of Living Survey ranks Tokyo as a top-tier city for expatriate expenses. Yet for many, Japan’s unparalleled safety, cleanliness, and unique blend of ancient tradition and futuristic living are worth every yen.

Residents often say the real value is in the lifestyle, not just the numbers.

United Kingdom: Royal Heritage, Regal Costs

The United Kingdom, with London at its center, is a magnet for dreamers, but the cost of living can feel like a royal tax. In 2024, central London rents averaged $2,500 for a one-bedroom flat, and basic monthly expenses for singles regularly reached $1,800.

Food, transport, and even entertainment are pricier than in most European countries, with a meal out often hitting $30. The Numbeo Cost of Living Index for 2024 keeps the UK firmly among Europe’s most expensive places to live.

Public transport is convenient but comes at a cost, and council taxes can surprise newcomers. Still, the UK’s rich culture, diverse job market, and lively arts scene continue to attract people from all over the world, even as they grumble about the bills.

Canada: Friendly Faces, Fierce Prices

Canada’s reputation for politeness extends to its welcoming cities, but not to its rent prices. Vancouver and Toronto remain two of the most expensive cities in North America, with one-bedroom apartments in central areas averaging $2,500 per month in 2024.

Overall, monthly living costs for singles hover around $1,600. Groceries, especially fresh produce in winter, can be costly due to long supply chains, and eating out isn’t much cheaper, with mid-range meals at $25 per person.

The 2024 Mercer Cost of Living Survey shows Vancouver and Toronto climbing the ranks for expatriate expenses. However, most residents agree that Canada’s high quality of life, excellent healthcare, and stunning natural environment make the extra cost worth it.

The sense of community and safety is often cited as priceless by those who call Canada home.

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