Report reveals 2020's 'most expensive' countries to live in

A map of New Zealand.
A map of New Zealand. Photo credit: Getty

Switzerland has come in 16 spots ahead of New Zealand to be named 2020's "most expensive" country to live in.

A report from CEOWORLD magazine identifies which countries around the world are the most and least expensive to live in. Their rankings are based on "five major metrics" - cost of living, rent, groceries, eating out and purchasing power.

New Zealand's 'cost of living index' has slightly decreased in 2020 to '72.53' compared to '73.01' in 2019, The Telegraph reports. This unit is measured by using New York as a benchmark, with an index score of 100.

European countries are prominent in the top twenty most-expensive list.

But if living in Europe isn't the ideal option, a little further down the rankings is Hong Kong (11th), Australia (16th), New Zealand (17th) and the United States (20th).

"On the other side of the spectrum, the Islamic Republic of Pakistan is the world's most affordable country to live in, followed by Afghanistan, India, Syria, Uzbekistan, Kyrgyzstan, and Tunisia," the CEOWORLD report reads.

Here are the top 20 most expensive countries in the world to live in:

  1. Switzerland
  2. Norway
  3. Iceland
  4. Japan
  5. Denmark
  6. Bahamas
  7. Luxembourg
  8. Israel
  9. Singapore
  10. South Korea
  11. Hong Kong
  12. Barbados
  13. Ireland
  14. France
  15. Netherlands
  16. Australia
  17. New Zealand
  18. Belgium
  19. Seychelles
  20. United States

See the full list here.