No one like things to get expensive. The cheaper they are, the better it is for the consumer. Every country has different levels of income. The income can be high enough for the citizens to easily afford goods, despite the high price. In this case, it is expensive for foreigners and not the citizens. In some cases, the prices are so high even the citizens find it hard to afford. There are many factors that affect prices. This can range from demand, supply, inflation and taxes. Some goods are highly taxed than others. Here’s a list of the most expensive countries to live in.
Bermuda is a British overseas territory with a population of 65,000. Th economy is based on offshore insurance, reinsurance and tourism. The country is known to have one of the highest GDP per capita. It is a popular holiday destination for many. It is also considered to be a tax haven to attract foreign investments. Despite this, the country is considered to be the most expensive country in the world and the capital city of Hamilton is the most expensive city in the world. Prices of goods are considered to be very high compared to the rest of the world. Furthermore, it is not a likely destination for backpackers’ due to its prices. Even town hostels are more expensive than other places. Click here for hostel near at Patpong.
Switzerland is ranked as the 2nd most expensive country in the world. It is also considered to be one of the best countries to live in. This might not make sense because high prices do not make a country a good place to live but the economic growth and the income and GDP surpass most other countries. Therefore, Switzerland has one of the highest nominal wealth per adult, thereby, affordable to the population. It is foreigners who experience the high expenses in the country. The people in the country don’t have any issues with the cost of living. This wealth has also made Switzerland a comfortable country. Similarly, even a best hostels in Bangkok would be expensive to stay in.
Hong Kong is an autonomous territory to China. It is one of the most populated countries. Due to its population size, even small apartments can be very pricey to live in. Hong Kong is home to the most significant financial centers in the world and is a very competitive economy. Further to the Hong Kong’s high HDI ranking, there’s large scale inequality in the country. While one half can afford large penthouses and land, the other half is struggling to survive. This gap seems to be getting larger and many policies in place to control this.