The United States has been ranked the 20th most expensive nation on earth to live in, according to new research from CEOWORLD magazine.
Each country was ranked by average wage, costs of living and the costs of commodities like fuel and groceries.
SWITZERLAND (1)
The Swiss Franc is considered to be one of the most valuable currencies in the world, and that combined with incredibly high local salaries means Switzerland once again tops the list as the world’s most expensive country.
NORWAY (2)
In Norway, the time of locals is very precious and the work they produce is considered very valuable, which pushes the cost of living very high. Due to high local wages (which force up rent, groceries and more) Norway was deemed to be the world’s second most expensive nation.
ICELAND (3)
Staggering costs of living – particularly eating out – along with geographic isolation have placed Iceland as the third most expensive nation on the globe.
JAPAN (4)
Isolation, expensive groceries (but very cheap restaurants) have placed Japan as the fourth most expensive nation in the world.
DENMARK (5)
Socially progressive taxes and expensive restaurants mean going out in Denmark can be an expensive affair; they were ranked as the fifth most expensive country in the world.
BAHAMAS (6)
They are the island getaway of celebrities, but poor local wages and expensive restaurants have placed the Bahamas in at number 6.
LUXEMBOURG (7)
Often called the richest nation on earth, the land-locked European country of Luxembourg has been deemed the 7th most expensive nation in the world to live thanks to very poor purchasing power by locals.
ISRAEL (8)
Israel does have relatively cheap rent and cost of living, but high local restaurant prices and poor local purchasing power saw it come in at number eight.
SINGAPORE (9)
Boasting some of the cleanest streets in the world doesn’t come cheap: Singapore was deemed to be the ninth most expensive country in the world.
SOUTH KOREA (10)
Despite boasting very cheap rent, South Korea has very expensive groceries which pushed up the cost of living.
AUSTRALIA (16)
High costs of living, rising fuel prices and stagnant wages made Australia the 16th most expensive country in the world to live in.
