The Price of Location: How Much Does It Cost to Live in Your Country?

© 2012 by Aurelio Locsin.

I’ve discovered a site called Numbeo, which has pricing and other economic data about countries and cities around the globe. It looks like the prices are entered voluntarily by visitors to the website, but based on my knowledge of U.S. costs, the numbers seem accurate. I wanted to share some of the interesting findings about how much it costs to live in the world.

The diagram illustrates the consumer price index in different locations. A fuller table of figures is at the end of the hub.

The site provided the data for this hub, so I urge you to visit it if you want more specific info or need to convert the prices into another currency. While I couldn’t post every price for every country, I arbitrarily selected prices from about 38 countries, which, according to Alexa, a website tracking service, form the bulk of the HubPages audience. The only missing country is Nigeria, which ranks eighth for HubPages visitors. Unfortunately, Numbeo contained no data for that country. All prices were as of 2012 and in U.S. dollars.

In 2012, the country with the highest consumer price index, a measure of the cost of living, was Norway at 151.34. This compared to 83.06 in the United States. The U.K. showed an index of 100.13, the closest to a perfect 100.

• The price to buy a Norwegian apartment in the city center was $7,274 per square meter, which is equivalent to about 10 square feet. While high, this price does not compare to the cost of $38,275 per square meter in Monaco. The U.S. average was $1,614 per square meter.
• Renting a one-bedroom apartment for a month cost $1,428 in the city center, or $1,039 outside it. Again Monaco topped the list with a rent of $2,806 in the city center, and $1,913 outside it. The averages in the U.S. were $900 in the center, and $700 outside it.
• Norway had the most expensive prepared meals at $121 for two in a mid-range restaurant and $15.59 at McDonald’s. In the United States, the same meal cost $45 for a restaurant and $6 for fast food.
• Fortunately, Norwegians also had the highest after-tax disposable income at $4,329 per month, compared to the monthly $3,000 in the United States.

India, the second greatest source of HubPages visitors behind the United States, showed the lowest consumer price index at 33.39 and the following prices.

• Buying an Indian apartment cost $1,179 (64,432 INR) per square meter in the city center and $639 (34,921 INR) outside the center. Bangladesh had the cheapest buys per square meter at $795 (43,446 INR) in the city center and $376 (20,548 INR) outside it.
• A one-bedroom apartment had a monthly cost of $146 (7,978 INR) in the center and $91 (4,973 INR) outside it. The country with the cheapest rentals was Nepal at a monthly cost of $95 (5,191 INR) in the city center and $35 (1,912) outside it.
• A meal for two cost $9.13 (498.95 INR) in a midrange restaurant, and $3.29 (179.79 INR) at McDonald’s. The Indian restaurant meal was the cheapest in the world. However a fast food meal was the lowest in the Philippines at $2.91 (159.03 INR).
• The disposable income after taxes in India was also low at $456 (24,920 INR) per month. However, the lowest income was in Pakistan at $204 (11,148 INR) per month.

You can check out the figures of your favorite country in the table below, but the following shows some of the more interesting highs and lows.

• Internet access was cheapest in Russia at $14 per month for a 6 Mbps unlimited data line, which is equivalent to cable or ADSL. It cost the most in the Dominican Republic at $65.25 and New Zealand at $60.85. The cost in the United States was $45.
• A movie in international release cost the least in Bangladesh at $2.92 per ticket. In Saudi Arabia, it was $42.50 per seat, and in the United States, it was $10.
• Gasoline was cheapest in Saudi Arabia at 13 cents a liter, or 49 cents a gallon. It cost the most in Norway at $2.42 per liter, or $9.14 a gallon. In the United States, gas was 99 cents a liter, or $3.74 a gallon.
• A kilogram of boneless, skinless chicken breast cost only $3 in Bangladesh but an astronomical $20.52 in Norway. In the United States, the chicken ran $6.61 per kilo.