In the luxury industry, we’re always watching the global market and many of its indicators such as country indexes for luxury and the cost of living. Global rankings are usually based on the following 5 metrics: rent, essential groceries, cost of living, eating out and the average purchasing power after everything had been deducted. New York City, renowned for being very expensive, is usually set as a benchmark against which other cities and countries are measured. The countries heading the annual lists for the most expensive in the world, are always more expensive than NYC.
Here are the top 10 countries that are the most expensive to live in in the world for 2020, going from the least to the most expensive, according to the aforementioned metrics and benchmark:
10- South Korea
9- Singapore
8- Hong Kong
7- Luxembourg
6- Bahamas
5- Denmark
4- Japan
3- Iceland
2- Norway
1- Switzerland
Planning to travel to any of these countries? On a private jet maybe? Allow us to assist you in planning an amazing trip or consulting on one with our top tier recommendations. Send us an email to mngt@theluxurymakers.com or contact us through the contact form provided HERE.
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