When it comes to selecting where to move abroad there is a whole world of locations to pick from. This means that you often start your research by considering the climate in which you'd like to live, and maybe the cultures you'd like to discover.
However, a key factor to keep in mind is the cost of living. A location you find yourself daydreaming of can be just that, until you need to rent an apartment or buy a car.
Coming up next, we take a look at the top three most expensive cities for foreigners. We've taken into account not only rent or taxes, but also the costs of housing, transportation, food, clothing and entertainment in each city. Whether you're planning to move abroad or are just curious about these expensive places, you're sure to find the information you need below.
Zurich, Switzerland
While Zurich is not only the most overpriced city in Europe, it is also the costliest city in the world. Nearly everything from recreation, to transportation, to leases is very expensive in Zurich, a status that is emphasised by the value of the currency.
As an expat, you find that most consumer prices are more expensive in Zurich than in Portugal. For example, a combo plate at McDonald's costs £12.69 in Zurich and £6.00 in Portugal. A month of full-time preschool for a child costs about £2,104 in Zurich and £1,500 in Portugal.
Nevertheless, Zurich makes up for it by providing a great standard of living for the ones that can live here. Unfortunately, Switzerland has become much harder to emigrate to; it is one of those countries that has enough millionaires and is not exactly desperate for more.
In addition, Zurich has among the largest numbers of millionaires per capita. No surprise considering that the typical Swiss family has a net worth of close to $600,000, the highest average in the world. This means that everything from household cleaning services to cabs costs a fortune.
New York City, USA
Both locals and foreigners recognise that New York City is an expensive place. Yet, New York City is a thrilling place to live, with a fast-paced energy, vibrant culture, and a wealth of new places to explore.
When moving to New York as an expat, you can expect a much higher standard cost of living. The biggest price point for New Yorkers is rent. Renting a one-bedroom apartment in the centre of the city will cost around £2,543 per month, compared to £1,762 in London. Not a lot of room for plentiful living when you are giving up two-thirds of your salary each month just to put a roof over your head.
Food can also cost 35% more than in most countries, and eating out is equally expensive. A meal for two at a halfway decent restaurant is at least $75, if not more, 60% more than in most countries. In addition to food, a family of four can expect to spend $4000 more in daily expenses. No one said raising a family in New York was cheap. And, even if you're single, you'll have to pay the city's highest tax rates and additional taxes that you won't find in most other parts of the country.
Tokyo, Japan
While the city is expensive, it is a dream destination for many foreigners. With a fascinating culture, delicious food, excellent healthcare and good job prospects, expats can enjoy a life filled with excitement and opportunity.
If you move to Tokyo, you may discover a few things are more expensive than in other.The cost of entertainment is ludicrously high in Tokyo where it can cost as much as 46 USD for two tickets at the movie theatre. Transportation isn’t any cheaper, neither is fast food, gym memberships, or clothes. Some grocery items such as milk will also substantially set you back
Still, many expats and tourists continue to flock to the city, enchanted by the mysticism surrounding Japanese culture. Japanese food and traditions are unlike anything in the rest of the world.
So, if you are interested in finding out more about living abroad and its opportunities to develop business, contact us today! Below this article, you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
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