The most expensive and cheap European countries, according to their cost of living

Jan. 29, 2015

The most expensive and cheap European countries, according to their cost of living

Switzerland, Norway and Luxembourg are named as the most expensive countries in Europe for life (into account were taken consumer prices and cost of living), informs the ee24.com with reference to European Cost of Living Index 2015, organized by the Numbeo portal.​

 

It is noteworthy that in the world rating, Switzerland is in the first place too, followed by Singapore and Norway. The world’s top ten also includes Hong Kong, Luxembourg, Qatar, Australia, Venezuela, Iceland and Denmark.

The Cost of Living Index 2015 was calculated in relation to New York (100%). So, for example, according to consumer prices (food, transport, services), Switzerland (126%), Norway (119%), Iceland (102%) and Denmark (101%) were more expensive in Europe than the main metropolis of the United States.

The most expensive and cheap European countries, according to their cost of living | Photo 1 | ee24
Switzerland is the most expensive country in the world for the cost of living. Photo: Lucerne

The final list of countries on the cost of living was calculated from the two indices – consumer price index and rent index.

The most expensive countries in Europe:

1. Switzerland
2. Norway
3. Luxembourg
4. Iceland
5. Denmark
6. The United Kingdom
7. Ireland
8. Netherlands
9. Finland
10. France

The cheapest countries in Europe:

1. Macedonia
2. Bosnia and Herzegovina
3. Albania
4. Serbia
5. Romania
6. Bulgaria
7. Kosovo
8. Montenegro
9. Hungary
10. Poland
11. Turkey

The most expensive and cheap European countries, according to their cost of living | Photo 2 | ee24
Macedonia is the European country with the cheapest cost of living. In the photo: the country's capital Skopje

 

Consumer price index (the highest in Europe):

1. Switzerland
2. Norway
3. Iceland
4. Denmark
5. The United Kingdom
6. Ireland
7. Luxembourg
8. Finland
9. France
10. Belgium

Let’s add that Macedonia, Kosovo and Albania are at the end of this list. As costs for food, transport and services are the lowest there.

The accommodation price index (the highest in Europe):

1. Luxembourg
2. Switzerland
3. Norway
4. The United Kingdom
5. Ireland
6. Iceland
7. The Netherlands
8. Denmark
9. France
10. Belgium

It is noteworthy that the cheapest apartment rental rate is on the Balkans: Bulgaria and Albania, as well as in the former Yugoslav republics, such as Serbia, Macedonia, Montenegro, Bosnia and Herzegovina.

The most expensive and cheap European countries, according to their cost of living | Photo 3 | ee24
Luxembourg is the most expensive country in accordance with the housing rental prices index

 

Food

The study also reflected more specific indicators. It was found out that the most expensive European food (prices are even higher than in New York City) is in Switzerland, Norway and Iceland. The food basket is also expensive for citizens of Denmark, France, Ireland, the UK and Finland.

The cheapest European food could be found in the stores of Kosovo (American researchers mentioned this state), Macedonia, Albania, Serbia, Poland, Romania, Bosnia and Herzegovina, as well as in Bulgaria, Hungary, Turkey and Montenegro.

The most expensive and cheap European countries, according to their cost of living | Photo 4 | ee24
In France food is expensive. Photo: butcher in Paris

 

Restaurants

For fans of eating out was calculated the restaurant price index. The largest amount one shall leave in Norway, Switzerland, Denmark, Luxembourg, Iceland and the Netherlands. The cheapest European meal is in such countries as Macedonia, Bosnia and Herzegovina, Kosovo, the Czech Republic, Albania and Bulgaria.

The most expensive and cheap European countries, according to their cost of living | Photo 5 | ee24
Norway is the country with highest restaurant prices. Photo: Bergen

 

Purchasing power

Highest local purchasing power was fixed in countries such as Switzerland, Luxembourg, Germany, Sweden, Denmark, Austria, the Netherlands, Finland, Britain and others. And the worst things are going in Kosovo, Albania, Macedonia, Serbia and Bulgaria.

Text: Kirill Ozerov, ee24.com

 

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