SwitzerlandSwitzerland has a cost of living score of 117.3, making it the most expensive country in Europe. The Swiss Confederation being at the top of the list comes as no surprise to anyone reading this. Switzerland is notoriously expensive.
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Luxembourg is the wealthiest country in the European Union, per capita, and its citizens enjoy a high. It is a major center for large private banking, and its finance sector is the biggest contributor to its economy. The country's main trading partners are Germany, France and Belgium.
Switzerland is the most expensive country for food, Norway for non-alcoholic beverages, Iceland for alcoholic beverages and Ireland for tobacco within the group of 36 participating countries.
The residents of Switzerland are paid very high wages compared to other countries, even bordering countries like France or Germany. This is somewhat as a result of the high quality of living. But due to the high wages, Swiss people have more money to spend, which naturally leads to higher prices.
Ukraine is the poorest country in Europe, with a GNI per capita of $3,540, while Moldova is the second poorest country with $4,570, Albania the third, with $5.210, the Republic of Macedonia comes fourth, with a GNI of $5,720, and Bosnia and Herzegovina the fifth poorest, with $6,090.
In 2022, Luxembourg recorded the highest level of GDP per capita in the EU followed by Ireland, Denmark, the Netherlands and Austria. Bulgaria had the lowest level of GDP per capita in the EU in 2022, followed by Greece, Slovakia, Croatia and Latvia.
Any readers who've followed the GPI over the years won't be particularly surprised: Iceland has topped the poll every year since all the way back in 2008. Thanks to its low crime rates but also low military spending and low rates of international conflict, Iceland is, once again, the safest country in the world.