Just how far does your hard-earned cash go? Are you digging behind the sofa cushions come the end of the month or are you eating out every night? The cost of living of a country is an important factor into the overall satisfaction of the population. And every year the website Numbeo produces their “Cost of Living Index” and this year Croatia is ranked in 43rd position of the 139 countries listed, between Estonia and Palestine.
This annual index works on a system where New York City is the base measurement, meaning that prices from New York are used as the benchmark, so New York City is 100 percent. If a city has an index of 130 that means that prices are 30 percent more than in New York City.
“The Cost of Living Index is a relative indicator of consumer goods prices, including groceries, restaurants, transportation and utilities. The Rent Index is an estimation of prices of renting apartments in the city compared to New York City. If Rent index is 80, Numbeo has estimated that price of rents in that city is on average 20 percent less than the price in New York. The Local Purchasing Power shows relative purchasing power in buying goods and services in a given city for the average net salary in that city. If domestic purchasing power is 40, this means that the inhabitants of that city with an average salary can afford to buy on an average 60 percent less goods and services than New York City residents with an average salary,” explains Numbeo.
So which country is the most expensive, or rather has the highest cost of living. The top three countries aren’t surprising – Jersey has the highest cost of living with a score of 155.59, making the cost of living over 50 percent more than in New York City. In second place is Bermuda with a score of 145.07, and in third place is Switzerland with a score of 131.75. the top five is completed with Norway in fourth and Denmark in fifth.
Croatia comes in 43rd position with an overall score of 56.36, putting it between Estonia with 56.45 and Palestine with 55.88. Interestingly the rent index across Croatia was one of the lowest in the top 40, with a score of only 14.94, meaning that rent prices in New York City are 85 percent higher than in Croatia.
And of interest the United States is in 28th position, the United Kingdom in 29th place, Germany in 30th and Canada in 31st position.
At the very bottom of the list is Pakistan in 139th position with an overall score of 21.59. And the lowest placed European country is Ukraine in 128th place.