Help Clients Consider Costs of Living Abroad

March 4, 2015

Whether your clients are considering a move from elsewhere to the United States or thinking about a second or retirement home outside the country, you can help them make some budgeting decisions right off the bat.

MoveHub, a London-based site for those moving internationally, recently worked with data analyst Numbeo to compare costs of living around the world using Consumer Price Indexes. Coming out on top as the most expensive countries to live in were Switzerland, Norway, and Venezuela -- none of which top lists of popular retirement or second-home destinations among most Americans. Iceland and Denmark completed the top five, all typically more expensive than New York.

The least expensive countries include India, Nepal, Pakistan, Tunisia, and Algeria.

Some of the countries often eyed by global buyers here ended up in the report's top 15: Australia is sixth on the list, with the United Kingdom at the tenth position, Ireland immediately behind, and France holding the 14th slot.

According to MoveHub, the CPI compiled by Numbeo looks at the cost of groceries, transportation, restaurants, and utilities, each broken into particular items.

Source: "MAP: Living Costs Around the World," MoveHub (Jan. 16, 2015)