This video is closed-captioned Let's face it: cost is always a factor.
Even if you're swimming in cash, you're probably not keen to blow it all on where you live.
So it's wise to be cautious and aware of the cost of living in various locations. Paying attention
to only the budget locations means you're missing a valuable opportunity. Expensive places can
sometimes have great, diamond in the rough deals. Or, in times of stress on financial markets,
prices might dip enough to allow you a way into an area you once thought was out of reach.
Join us to look at the top ten most expensive countries you can call home.
Number ten. The United States. Not everywhere in the United States
is out of reach. There are sure to be a few that sport ridiculously high price tags with
fifty states to choose from. Hawaii tops most lists within
the United States. It is a picture-perfect paradise, which contributes to high prices,
but it's also an island. This means it costs more to import goods and services. Foods from
potatoes to loaves of bread and proteins like beef have prices that reflect the cost
of shipping or flying goods over oceans. Vying for the second and third place within
the United States are New York and California. Both are metropolitan hubs, housing millions
of people and plenty of price-gouging. Droves of people seek out these prime locations in the US,
and you'll have to pay dearly for it. Number nine. Singapore.
Singapore might be one of the smaller countries on our list today. But
it's densely populated, with nearly 5.5 million inhabitants estimated in 2021.
As an island, you can imagine that land is scarce, and it's one of the most significant contributing
factors to the high costs in Singapore. The location is highly strategic in trade between
the East and West, but the country itself has very few natural resources. Unlike larger islands like
Crete in Greece, Singapore can't sustain itself without heavy imports, including millions of
gallons of water a day from Malaysia. Even private car ownership is limited by
the government, making it the most expensive place in the world to buy a car. In addition
to the cost of the vehicle itself, steep fees such as road taxes, parking, road tolls, gas,
and maintenance add up quickly. Number eight. Norway.
Norway consistently shows up on lists indicating the most expensive countries. It's also usually
among the most desirable. Generally, higher wages soften the sticker shock here,
but it's still a pricey country to move to. Thankfully, healthcare is nearly free for adults.
Anyone over sixteen - except for pregnant or nursing women, pays an annual deductible of just
over USD 200, and the rest of your healthcare for the year is free. And for the group of pregnant
or nursing women, along with those 16 and under, health care is completely free. Public school,
including higher education, is free as well. Most Norwegians value their outdoor time,
taking particular care to maximize the short summer months.
The main reason the country is so expensive is that, overall, it pays employees a living wage.
That naturally inflates the cost of goods and services. For example, going out to dinner is
far more expensive than in many other countries, as the wait staff, cooks, and dishwashers are
all paid a wage that keeps them from becoming impoverished. As a result, the unemployment rate
typically hovers below four percent. Number seven. Ireland.
The rolling emerald green hills of Ireland beckon to many. Millions of tourists visit each
year to enjoy the vibrant history and idyllic landscape. But those looking to emigrate to
Ireland should be aware of living costs. Like London, Paris, and other major cities,
Dublin requires more money to live comfortably than other parts of Ireland. And, because
Ireland is an island, albeit a larger one, certain goods are imported, leading to higher prices.
While you can find cheaper cities in Ireland, like Cork and Belfast, expect to pay prices comparable
to New York City if you make a move here. If you enjoy our videos join us on our journey
around the world by subscribing to our channel please click the bell icon to get notified when
we publish a new video. Number six. Denmark.
Denmark's reputation for high living standards precedes it - with a lofty price tag. But there's
a reason - Denmark consistently appears in the Top Ten of the World Happiness Report. People who live
in Denmark are generally happier for it. Healthcare is comprehensive, meaning there
are both private and public options. If you're working, you'll have public health coverage,
including free care for most visits. Housing costs will be one of the highest
allocations for ex-pats considering a move, and location will impact the price. Copenhagen
is the capital and is a massive draw for those moving. But it's also tiny, which
means competition is fierce and expensive. Vehicle transportation, either via privately
owned car or taxis, get expensive quickly. It's very bicycle and public
transportation-friendly in Copenhagen and might be a way to cut down on costs.
Number five. Monaco. This small principality in
southern Europe has made a big impression on world travelers. It has a beautiful climate,
thriving nightlife, bustling activity during the day, and beautiful terraces overlooking
the architecture and glittering ocean. Monaco is a tiny principality, and you'll
pay through the nose to acquire real estate here - even if you're only looking for an apartment.
There are ways to eke out savings, though. Because of the loose tax obligations,
food and other groceries will seem more affordable than in countries where taxes are standard.
A single company monopolizes Internet and phone services, so they can charge higher rates than
you'd find in other European countries. Gaining Monaco citizenship is nearly
impossible - most settle for a residence permit or limited visa.
Number four. Liechtenstein. Liechtenstein is a country that most of us
have probably heard of, but fewer have visited, and fewer still could point it out on a map.
Nestled between Austria and Switzerland in central Europe,
Liechtenstein has fewer than 50,000 residents. With such a small population, it's no wonder the
cost of living here is so high. Like a few other locations on this list, the principality offers
some of the highest wages in Europe. Even still, citizens can expect to spend about
half of their income on living expenses like insurance, housing, and utilities.
Amazingly, Liechtenstein also has a zero percent poverty rate. One of the
highest GDP per capita globally and low inflation make for a robust economy.
It's also interesting to note that a large percentage of the labor force commutes into
the country for work. Switzerland and Austria are connected to Liechtenstein by train,
and more than half of the workforce commutes in. Because the economy has grown so quickly,
the small population can't support it on its own, necessitating an outside workforce.
Number three. The Cayman Islands. This British Overseas Territory
often gets a lot of attention for being a well-known tax haven. That attracts a
lot of significant wealth and contributes to the rising costs of living on the islands.
They're centrally located, making them easy to access by plane and boat. A limited local
workforce and a considerable focus on tourism mean a sizeable seasonal workforce. Rent and utilities
will be what you spend the most money on if you're considering moving here. Sharing apartments is a
common way to stretch a dollar here. Number two. Switzerland.
Switzerland is the dream destination for many. Offering excellent quality of life, a thriving
economy, and breathtaking scenery everywhere you look, it's easy to see why it's an attractive
place for ex-pats looking for a chance. Several cities within Switzerland consistently
top lists of most expensive places to live, including Zurich, Geneva, and Bern.
Zurich requires funding similar to New York City, with rent prices between $1,600 and more
than USD 6,000, depending on the size of your family. At least salaries in Switzerland take
into account the high cost of living. There's no national minimum wage, and hourly service
positions are unlikely to meet budgetary needs. Healthcare is another expensive area. Second,
only to the costs seen in the United States, a whopping twelve percent of the GDP is dedicated
to health and medical expenses. Number one. Bermuda.
Bermuda easily tops any list of the most expensive countries to live in.
According to data provided by Numbeo, the cost of living in Bermuda is 47 percent higher than
in New York City, which is used as the benchmark for ranking cost-of-living.
Massive import taxes averaging more than 30 percent of retail value are
placed on just about everything. That includes food, fuel, payroll taxes,
and additional tariffs on essential items. Bermudians are also paying a hefty sum to their
government. There are only about 64,000 residents, and yet they are represented by more than 30
members of Parliament. The cost of this political machine is passed on to those who live in Bermuda.
They're also the largest employer in Bermuda. All in all, many factors contribute to the high
cost of living in Bermuda. But, if you can make your budget work for the area, there's
nowhere in the world quite like Bermuda. Well, that is all for today's video. If price were
no object, where would you most want to relocate to? Let us know down in the comments!.We hope
you enjoyed today's list! do leave us a comment or a like if you did enjoy the video consider
subscribing and before you start packing for your trip, consider looking at some of my other
videos from other amazing travel destinations! Happy Traveling and stay safe Until next time!