A new index published by the magazine CEOWORLD shows that Switzerland is the most expensive country to live in worldwide, with Norway and Iceland closely following in second and third place.
European countries are in fact amongst the most prominent on the index, with 9 European countries featuring in the top-20 nations.
Malta comes in in 26th place of this index making it cheaper to reside in than Denmark, Luxembourg, Singapore, Ireland and the United States.
CEOWORLD magazine based its assessment on a range of living costs, such as accommodation, clothing, taxi fares, utility, internet, the price of groceries, transport, and eating out. The rankings are based on five major metrics: cost of living, rent, groceries, eating out and purchasing power.
This data is then compiled into an index, using the notoriously expensive city of New York City (NYC) as a benchmark. New York was given an index score of 100.