5 Least Affordable Countries in the World

In this article, we will list and explore the 5 least affordable countries in the world. To view our detailed discussion, see the 25 Least Affordable Countries in the World.

5. Hong Kong

Cost of Living: $2614

Tax: 15%

Hong Kong provides an exceptional quality of life, highlighted by its extraordinary cityscape, top-tier healthcare services, and highly efficient public transportation system. However, it faces challenges such as high living costs and limited living space.

4. Switzerland

Cost of Living: $2896

Tax: 11.5%

Switzerland’s cost of living is $2896 with a tax rate of 11.5%. Despite high cost of living, the country’s sound economy, low crime rates, and stunning natural landscapes make it an attractive place for residents and expatriates.

3. Singapore

Cost of Living: $3000

Tax: 24%

Singapore has a cost of living at $3000 with a tax rate of 24%. Its status as a global financial hub drives up housing and living costs. While the high cost of living and expensive housing market can pose challenges, the country’s high salaries and excellent social services often offset these concerns, making it a desirable location for both residents and expatriates.

2. Cayman Islands

Cost of Living: $3374

Tax: –

With a cost of living at $3374 and no income tax, the Cayman Islands are known for their high cost of imported goods and luxury lifestyle. The financial services sector accounts for over half of the Cayman Islands’ GDP.

1. Monaco

Cost of Living: $6538

Tax: –

Monaco’s cost of living is a staggering $6538 with no income tax. The tiny principality’s opulent lifestyle and limited space drive up housing and living expenses. Monaco’s economy is robust, with key sectors including tourism, finance, real estate, and gambling.

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