The Bahamas was again listed as one of the top 10 most expensive countries in the world to live, dropping two spots from last year to land at the sixth most expensive country.
Of the 132 countries on the list, only Switzerland – which was listed as the most expensive – Norway, Iceland, Japan and Denmark beat out The Bahamas as the most expensive, according to the just-released report by CEOWorld magazine.
Last year the same magazine ranked The Bahamas the number four most expensive country in the world to live.
“To identify the world’s most and least expensive countries to live in, CEOWorld magazine collected and reviewed data from dozens of studies, consumer price indexes; cost of living indexes; and numerous national and international media reports,” the magazine stated.
“CEOWorld magazine based its assessment on a range of living costs, such as accommodation, clothing, taxi fares, utility costs, internet, the price of groceries, transport and eating out.
“This data is then compiled into an index, using the notoriously expensive city of New York City as a benchmark. New York was given an index score of 100.”
Based on the index, The Bahamas scored 82.51 on the cost of living, 36.36 on the cost of rent (which places The Bahamas at eleventh in the world), 62.65 on the cost of groceries, 83.66 for the cost of eating at a restaurant and 54.18 for local purchasing power.
The remaining top 10 most expensive countries in the world are Luxembourg, Israel, Singapore and South Korea.
CEOWorld is a New York-based business magazine that publishes news articles and information for senior business executives.