In this article we are going to list the 10 most expensive countries in Europe. For a detailed coverage of this topic and a more comprehensive list please take a look at the 20 most expensive countries in Asia.
5. Qatar
Real GDP / GDP by PPP ratio: 0.66
5 year GDP growth rate: 9.7%
While Middle Eastern / Gulf countries have a heavy presence in our list of the most expensive countries in Asia, Qatar is the most expensive of them all. While Qatar was recently in the news for hosting arguably the biggest event in the world of sports in the FIFA World Cup 2022, where it invested tens of billions of dollars. The country could afford to do it as the oil-rich nation has one of the highest GDP per capita in the world. Salaries are quite high in Qatar with no income taxes.
4. Cyprus
Real GDP / GDP by PPP ratio: 0.72
5 year GDP growth rate: 20.3%
Cyprus is a country where there is a disagreement on whether its an Asian or European country. Since the United Nations listed the country in Asia, that’s what we have gone with as well. Since it is an island, it is costlier for the nation to import goods which is one of the reasons why it is so expensive.
3. Republic of Korea
Real GDP / GDP by PPP ratio: 0.74
5 year GDP growth rate: 16.2%
South Korea is one of the most incredible success stories of the last half century, rising from an undeveloped economy to one of the most developed in the world, making a name in tech companies which produce high quality products especially in consumer electronics. Rent is one of the reasons why Korea is quite expensive with its capital Seoul regularly ranking among the most expensive cities in the world.
2. Japan
Real GDP / GDP by PPP ratio: 0.92
5 year GDP growth rate: 2.6%
One of the reasons why Japan is so expensive is its focus on high-quality, high-tech goods while a strong economy ensures that its people receive decent salaries. A developed country is generally more expensive than a developing one and Japan is among the most developed nations in not just Asia but the entire world.
1. Israel
Real GDP / GDP by PPP ratio: 1.19
5 year GDP growth rate: 20.1%
Easily topping the list of the 20 most expensive countries in Asia is Israel, which is also the second most expensive country in the world. Protectionist policies implemented in the country have resulted in a really high cost if living while billions in aid from the US annually is used to beef up the military rather than make lives easier for its citizens. With an ultra far right government ruling the country right now, it is unlikely that the cost of living in the country will go down soon. These protectionist policies make import difficult, and embolden industries established within the country to charge higher prices.
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