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01 Feb. 2023

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How much does it cost to live abroad: the most expensive cities in the world are named

Cost of living

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How much does it cost to live abroad: the most expensive cities in the world are named

The cost of living in a country and housing prices are usually a major factor in choosing a country to move to. Learn more about which cities in the world are considered the most expensive to live in and the cost of living in different countries

An insurance policy is a guarantee of your safety and peaceful stay outside of Ukraine
An insurance policy is a guarantee of your safety and peaceful stay outside of Ukraine
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In 2022, there was a rapid increase in the cost of living in the world's largest cities. This is evidenced by the Economist Intelligence Unit research. In particular, prices were affected by the russian war against Ukraine and quarantine restrictions. This is what disrupts supply chains, including energy and food.


So, the ranking of the most expensive cities in the world in 2022 looks like this:


• New York, USA (the cost of living here is more than 5,000 euros per month);

• Singapore;

• Tel Aviv, Israel;

• Hong Kong;

• Los Angeles, USA;

• Zurich, Switzerland;

• Geneva, Switzerland;

• San Francisco, USA;

• Paris, France;

• Copenhagen, Denmark.


The study compares the costs of goods and services in 173 cities around the world. On average, in the cities covered by the study, prices increased by 8.1% over the year.


The inflation rate was quite high in the USA, and the highest in Turkey, prices in Istanbul increased by 86% over the year. Most European cities fell in the ranking of the most expensive - the energy crisis and the weakening of the economy reduced the value of the euro and other local currencies.


What is the cost of living in other countries of the world?


When choosing a country to live in, the level of expenses and cost of living in general is the main factor. Previously, VisitUkraine already calculated the cost of living in various countries of Europe and the world. In particular, the cost of housing rent, food, transport costs, entertainment and medicine were taken into account. We tell you what prices for accommodation are offered by European countries and different parts of the world.


Moderate prices for accommodation and proximity to Ukraine are MoldovaRomania and the Czech Republic. On average, a family's monthly stay in these countries will cost around 1,500 euros.


If you want to live in a warm Mediterranean climate, then Turkey is the cheapest warm country. The cost of living here varies depending on the region, but if you live outside the capital and further away from popular tourist cities, you can budget even 500 euros per month.


Those who want to live in Italy or Spain should count on an amount of 1,500 euros per month, while living in Cyprus will cost more - from 1,700 euros per month. But a month of living in Portugal will cost from 2,000 euros.


From 2,000 to 3,000 euros will cost a monthly stay in countries such as FranceGermany and Austria. These are the leading European countries with the highest standard of living, and the capital of Austria is generally recognized as the most comfortable city to live in. A month of living in Switzerland will be the most expensive among the Central European countries - the required amount can be more than 3,000 euros.


If you want to live in the northern part of Europe, the most expensive country here is Norway, just like in Switzerland, you need to have at least 3,000 euros per month for accommodation.


And in countries such as DenmarkSweden, the Netherlands and Finland, you can count on an average of 2,500 euros per month.


Remember! An insurance policy is a guarantee of your safety and peaceful stay outside of Ukraine. In order to protect yourself from troubles abroad and to be calm for yourself and your loved ones, Visit Ukraine recommends not to delay and take out insurance online.




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