Living is expensive. There are necessary items and services an average person needs so that they can maintain an average lifestyle. The Bureau of Economic Analysis (BEA) breaks up necessary expenses into nine groups—apparel, education, food, housing, medical, recreation, transportation, and other goods and services.

Each of these groups includes the costs that are associated with them. Insurance, vehicle maintenance, toll fees, vehicle licensing and registration, bus or taxi fares, and any other transportation-related costs are included in the transportation group: the housing group includes insurance, maintenance, utilities, rent or mortgage payments, childcare, phone bills, or any other cost associated with having a place to live.

It is important to understand how the cost of living is calculated, how to compare different ones, and what the index tells you so that you can decide how far you will be able to make your paychecks go.

According to World data info, the most expensive country in the World is Bermuda! Poland is in the 52nd place and India is in the 106th place.

Here are the top ten most expensive countries in the World:

RankCountry
1Bermuda
2Switzerland
3Cayman Islands
4Turks and Caicos Islands
5Barbados
6Israel
7New Caledonia
8Iceland
9Denmark
10Ireland

To see more about other countries, “click here

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