Everyday living costs are high, but have you ever thought about what are the countries with the highest cost of living in the world? While some of these countries might be a turn off due to the high cost of living, one also needs to factor in the rewards for living in such a country.
Price of goods and services required for maintaining an average level standard of living. Cost of living varies from place to place, and from time to time. Cost of living is the cost of maintaining a certain standard of living. Believe it or not, one of the countries with the highest cost of living is Kuwait. You will need to make sure you have enough to reside here especially if you’re a foreigner thinking of living here. Another one is Papua New Guinea. So if you’re traveling and thinking of residing here, make sure you’re aware of the inflated prices. Cost of living is the amount of money needed to sustain a certain level of living, including basic expenses such as housing, food or taxes. The standard of living can also be used to compare distinct points in time. Salary is a good indicator of living in some country. Higher salary, higher cost of living. Salaries are typically adjusted annually. They may also be tied to a cost-of-living index that varies by geographic location if the employee moves. In some countries with a high standard of living. Daily things like drinking coffee in a restaurant or gasoline can be very expensive. In these countries the cost of living is very high. The rent is also a good indicator that shows that the cost of living in some country is very high. If you need to extract a lot of money for the rent, then it is likely that the other costs of living are large.
If you want to see what are the countries with the highest cost of living in the world, check Insider Monkey’s list of 10 Countries With The Highest Cost of Living in the World and find out how much money do you need for a nice and comfortable life in these countries.