10 Countries With The Highest Cost of Living In The World in 2023

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3. Cayman Islands

Insider Monkey’s Cost of Living Score: 152

The Cayman Islands is a British overseas territory and another renowned global tax haven. Its nominal GDP stood at $5.6 billion in 2020 which lent it a stunning per capita income of $85,347. Financial services and tourism account for more than half of the Cayman Islands’ gross domestic product, and its exports are dominated by recreational boats. At the same time, despite having one of the highest per capita incomes in the world, a proportion of the region’s population continues to live in homeless shelters.

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