The cost of living in the UK is higher than ever – but which is the most expensive country in Europe?
The cost of living crisis has hit the UK hard, with millions struggling to make ends meet as high inflation impacts everything from energy bills to food.
With all of us looking for ways to keep costs down, it’s no surprise that many people may have opted for cheaper holidays this year, with many destinations across Europe still keeping costs low to allow tourists to make the most of everything they have to offer.
However there are still some countries in Europe where your hard-earned won’t go quite so far.
Which are the most expensive destinations in Europe, and how does the UK compare?
Which is the most expensive country in Europe?
According to recent statistics, the most expensive country in Europe is Switzerland.
In fact data from Numbeo, the world’s largest cost of living database, suggests that Switzerland is second only to Bermuda in terms of the most expensive countries in the world.
The site states that the cost of living in Switzerland is 88.4% higher than it is in the United Kingdom – with estimated average monthly costs for a family of four coming in at over £5,000.
A meal for two in a mid-range restaurant will set you back around £99, while the Economist’s Big Mac index – comparing the price of the McDonald’s meal in countries across the world – puts the cost at 6.70 Swiss francs – just over £6.
Despite a high cost of living, the standard of living is also high in Switzerland, with wages overall higher than other parts of the world.
The average monthly wage is around 6,700 Swiss francs per month – around £6,000 – while taxes are lower than many nations, with the average single worker being taxed at a rate of 18.5%.
According to Numbeo, the other most expensive countries include:
Iceland
Iceland regularly comes up on lists of the most expensive countries in Europe – with the Scandinavian nation, which has a population of around 400,000 people, importing a lot of its goods.
The monthly cost of living for a family of four is around £3,700 without rent ,and just over £1,000 for a single person – estimated to be around 43.3% higher than in the UK.
Norway
Norway is also cited as one of the most expensive countries to live in, with the monthly cost of living for a four-person family around £3,458 without rent, and for a single person around £967.
However rent in the Scandinavian country is slightly lower – around 6.9% – than it is in the UK, making the overall cost of living in Norway just under 35% higher.
Denmark
According to Numbeo the monthly average cost of living for a family of four in Denmark is £3,234 not including rent, and £904 for a single person.
That comes in at around 25% more expensive than the UK.
Luxembourg
Another country which comes up more expensive than the UK, Luxembourg costs around £2,923 per month for a family of four, not including rent, and £843 per month for a single person.
Overall that makes it 13.8% higher than the UK.
Ireland
Eurostat data suggested that Ireland was the most expensive EU country in 2022. with prices being 46 per cent higher than a lot of other member states..
Numbeo stats have the average monthly cost of living for a family of four at £2,905 without rent, and £830 a month without rent for a single person.
That puts it around 10% higher than the UK.
France
The average monthly cost of living for a family of four in France is estimated at £2,804 minus rent – while a single person’s monthly ongoings are priced at £786.
But while this puts it at 8.9% higher than the UK, the overall cost of rent is considerably lower – at around 23%.
Austria
The picture in Austria looks similar, with monthly outgoings for a family of four minus rent estimated at £2,888, and £844 for a single person.
Once again though rent is said to be around 23% lower than in the UK, although the overall cost of living is 9.4% higher than the UK on average.
MORE : Six best European summer holiday destinations with the lowest inflation
Follow Metro across our social channels, on Facebook, Twitter and Instagram
Share your views in the comments below