Iceland
The country placed on the fifth position in the list of most expensive countries in the world is Iceland, where the cost of living per person is $2457 per month and the cost of living for the family of four members is $5255 monthly.
The population is very low in this country which leads to the high cost of living. This country has good healthcare and education facilities and beautiful environment which attracts most of the visitors here. The crime rate here is very low.
- Estimated monthly living expenses: The estimated monthly living cost for an individual in Iceland is around $2,457 (as of October 2023). This cost can vary depending on individual spending habits and lifestyle choices.
- The cost of living varies significantly within Iceland, with higher costs concentrated in the capital city, Reykjavík, compared to rural areas.
- Despite the high cost of living, Iceland offers a high standard of living with excellent healthcare, education, and social safety nets.
Top 10 Most Expensive Countries in the World
Monaco has been considered the most expensive country in the world with a per-person living cost of $3,955 per year. The high standard of living in a nation or a country can be greatly impacted by the high cost of living. For the people who are working at low wages, this high cost of living makes it difficult for them to fulfill their basic needs like food, clothes, home, and basic utilities.
In this article, we are going to learn about the Top 10 Most Expensive Countries in the World.