It was found out which was the most expensive place to live in Europe at the beginning of 2024. Here, prices are higher than in New York, according to the online database of the Numbeo price comparison portal.
The most expensive place to live in Europe at the beginning of 2024 was Zurich, Switzerland. The data for each city is then multiplied by the cost of living in New York, which is considered to be 100. Zurich has a cost of living index of 120. Here, prices are 20% higher than in New York (excluding rent).
Zurich, the most expensive place to live in Europe
Geneva, also in Switzerland, is second only to Zurich. In third place is the capital of Iceland, Reykjavík. The most expensive cities are usually in Western Europe, while the cheapest are in the eastern half of the continent.
Life in Bratislava is the most expensive in Eastern Europe, while in the Polish capital Warsaw, life is cheaper by a few percent (46.2) than in Budapest.
Hungary, the cheapest country in Europe
Hungary is the 30th cheapest country in Europe in terms of average cost of living. Here too, Switzerland ranks first (114.3), while Austria is more expensive (67.3) than Germany (63.5) or Sweden (62.5).
Restaurant prices are also in the same order, with prices in Austria, for example, being 22% higher than in Hungary. The Numbeo index summarizes and compares the prices of consumer goods such as food, restaurants, transport, household energy and public services, according to Magyar Nemzet.
What are the salaries in Switzerland?
Not only are prices high in Switzerland, but so are wages. The average gross salary in Switzerland reached 6,665 Swiss francs (6,770 euros at the current exchange rate), according to data provided by the Swiss Embassy in Bucharest.
A meal for two at a mid-level restaurant costs 500 lei in Switzerland, which is more than three times more than in Romania. At the supermarket, a 500-gram loaf of bread costs 15 lei in Switzerland. A bottle of wine (positioned in the middle segment) costs 65 lei in Switzerland.
Regarding the number of employees in the economy, in Switzerland there are 5.1 million people employed, out of a population of 8.7 million.