See which are the most expensive countries in the world

See which are the most expensive countries in the world

The list of "Most Expensive Countries in the World" has many countries that people dream about. But unfortunately life in these countries is not easy. According to the report of the international company MoveHub, the list of the most expensive countries in the world is based on the prices of food, transport, clothing, housing and monthly bill costs. The result is evaluated according to a point system, with the highest coefficient being 100.

In this post, we give you the Big Mac Index so you can compare it as an extra. So what is the Big Mac Index? The Big Mac Index is an index based on the theory of purchasing power parity (SAGP) of The Economist magazine. This theory states that, in the long run, exchange rates should be determined by proportionally how much a product costs in different countries.

So what could be more useful than the famous McDonald's Big Mac hamburger or something similar to be a common yardstick for different countries? According to purchasing power theory, the price of a Big Mac in a country provides information about the cost of the materials used in a Big Mac—from the cost of materials to local production and advertising prices.

1. Bermuda

Bermuda, an archipelago in the Atlantic Ocean, is one of Britain's oldest overseas territories. Bermuda has 106.4 points on this row. The most expensive country in the world, Bermuda is a tax haven. The banking and financial sector is concentrated in Bermuda, where the standard of living is quite high.

Big Mac Index: 12 $

2. Switzerland

Switzerland has 90.68 points on the list. Although Switzerland is one of the best places in the world in terms of living conditions, this country is becoming an increasingly expensive place.

Big Mac Index: 14.22 $

3. Hong Kong

Hong Kong has 81.83 points in the list of the most expensive countries in the world. Hong Kong is a very expensive country because it is very crowded and small.

Big Mac Index: 4.46 $

4. Iceland

Iceland has 80.47 points in the list of the most expensive countries in the world. Iceland has to import most of its food as it has very little fertile soil.

Big Mac Index: 12.83 $

5. Singapore

Singapore ranks fifth in the ranking and has 76.57 points. The average price of a pint of beer in Singapore is around £8.50.

Big Mac Index: 5.10 $

6. Norway

Norway ranks sixth in the ranking and has 74.47 points. A one-bedroom house in Norway costs £925 per month. According to the latest figures published by the International Transport Association (IRU), the most expensive fuel in the world is used by oil-rich Norway.

Big Mac Index: 12.57 $

7. Bahamas

The Bahamas is seventh in the list of the most expensive countries in the world and has 73.63 points. The price of products in the country increases because the Bahamas imports more than exports.

Big Mac Index: 8 $

8. United Arab Emirates

The United Arab Emirates ranks eighth in the ranking and has 68.39 points. Living is quite expensive across the country, as is the case in Dubai and Abu Dhabi.

Big Mac Index: 5.85 $

9. Qatar

Qatar is ranked ninth and has 68.06 points. In Qatar, where highly skilled workers are heavily recruited from other countries, the cost of living is not enough despite high wages.

Big Mac Index: 6.88 $

10. Luxembourg

Luxembourg is one of the top ten countries in the ranking. Although Luxembourg is one of the richest countries in the world, it cannot avoid being one of the most expensive countries.

Big Mac Index: 9.99 $