According to a recently published report ‘Most Expensive Countries in the World to Live In 2020’ by the CEOWORLD magazine, Switzerland is the most expensive country in the world to live in. Whereas, the publisher has declared Pakistan as the most affordable country in the world.
The report has ranked Norway at 2nd place, which is followed by Iceland, Japan, Denmark, Bahamas, Luxembourg, Israel, Singapore, and South Korea.
Here are the 10 most expensive countries in the world:
In the top 20 list, 9 countries are from Europe, 5 from Asia, 2 each from the Caribbean and Oceania, and 1 each from North America and Africa.
CEOWORLD magazine has placed Australia and New Zealand at 16th and 17th positions respectively. Whereas, Canada is the 24th, United Kingdom 27th, and Germany 29th most expensive country in the world to live in 2020.
At the opposite end of the list, Pakistan is the most affordable country in the world to live in 2020, according to CEOWORLD. Afghanistan, India, Syria, Uzbekistan, Kyrgyzstan, Tunisia, Venezuela, Kosovo, and Georgia follows Pakistan at the bottom end of the list.
Here are the 10 most affordable countries in the world:
To compile a list of the world’s most expensive and affordable countries, CEOWORLD magazine collects and analyze the following metrics from all the countries:
- Cost of living
- Eating out
- Purchasing power
CEOWORLD magazine then assigns each country an average score using these metrics. The score of each country is then compared with New York, which serves as a benchmark with a score of 100 for the entire list.
Countries with a score higher than the score of New York are attributed as expensive countries while those with a score lower than New York are attributed as affordable.
For instance, Switzerland has an average score of 122.4, meaning it is way expensive than New York. On the other hand, Pakistan has an average score of 21.98 which makes it the most affordable country in the world.