You are here: Home - Retirement -

Living costs rise in key expat destinations

0
Written by:
05/06/2014
The cost of living in some of the most popular expat destinations has spiralled, according to experts.

Research by the Overseas Guides Company found that living in hotspots such as New Zealand and Canada is now more expensive than staying in the UK.

On its scale, if living in the UK equals 100, New Zealand scored 113.6, while Canada is the most expensive with a score of 126.2.

Prices in Europe have also increased; however, the UK is still the most expensive European location to live.

Soaring utility bills in France, for example, have pushed the day-to-day living costs in the country ahead of the UK. However, lower food costs mean it scored just 89.5 on the scale.

With a score of 78.6, Turkey consistently ranks as one of the cheapest countries to live, with low utility costs and low prices for everyday items compared to the rest of the world – particularly bread, milk and washing powder. Public transport costs are also lower there.

Portugal comes out as the cheapest country to eat out in. Beer is also priced the cheapest there, along with Italy. Wine, on the other hand, is cheapest in Italy and Cyprus.

The cost of petrol is generally cheaper throughout most of Europe, although petrol prices in Italy can be high. Diesel was found to be cheaper than petrol in every country surveyed, aside from the UK.

Angelos Koutsoudes, head of the Overseas Guides Company, said: “Our research emphasises how important it is to have a clear idea of costs in your new country before moving there, so you know you can easily afford day-to-day living costs, whatever your financial situation.”

2014 Overseas Living Price Index

UK 100%
Canada 126.20%
Cyprus 95.70%
France 89.50%
Italy 77.30%
New Zealand 113.60%
Portgual 80.80%
Spain 65.80%
Turkey 78.60%
US 77.90%

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
2348349-car-bonnet
Looking under the bonnet: How diversified is your tracker fund?

Helal Miah of The Share Centre warns of the dangers for index investors of being too heavily exposed to one...

Close