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The InterNations Expat Insider survey asks expats around the globe to rate their home based on several important factors. When it comes to personal finance, there are a few destinations that put a lot of pressure on an expat’s budget.
Most expensive destinations in Europe for expats
Luxembourg was the most expensive country in Europe according to the expats currently living there.
The cost of a living is a major concern in the tiny European nation with 71 percent of expats worried about their personal finances.
A quarter of the expats gave Luxembourg the worst possible rating for affordability with 30 percent of people saying they didn’t have enough money to live a comfortable life.
One expat from the USA said: “The cost of living is out of reach for all except those willing to house share or those who make well in six figures.”
An EU Commission survey found that the cost of living and housing were the main concerns of people living in Luxembourg.
The price of a meal for two people in a mid-range restaurant in Luxembourg costs 70 euros (£59) according to Numbeo.
A cappuccino costs 3.47 euros (£2.95) on average while a loaf of bread costs 2.85 euros (£2.42).
The average monthly rate for an apartment in Luxembourg is 1,378 euros (£1,172) with many expats choosing to live in the capital city.
Luxembourg borders Belgium, France and Germany and has a population of just under 650,000 people.
The majority of the country is rural with forests, gorges and nature parks to explore. Around 80 percent of residents speak English.
Luxembourg was rated the 10th safest country in the world while it also scored highly for public transport.
The UK was also one of the most expensive countries in Europe with many expats finding life unaffordable.
Ireland rounded off the top three and has some of the most expensive housing in the whole of the EU.
All four Scandinavian countries made the top 10 list and expats can expect to pay a lot for groceries there.
New Zealand was ranked as the most expensive country in the world with one expat saying the “cost of living is too high”.
Hong Kong, Qatar, Kuwait and Bahrain were also in the top 10 most expensive countries in the world.
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