Ranking 26th among 132 countries, Malta is more expensive to live in than the UK, Italy, Germany and Spain, according to a study by CEOWORLD magazine.
Switzerland tops the most expensive list, followed by Norway, Iceland, Japan, Denmark, Bahamas, Luxembourg, Israel, Singapore, and South Korea. Among the top 20, nine countries are in Europe, five in Asia, one in North America, one in Africa, two in the Caribbean and two in Oceania.
The UK ranks in the 27th place, Italy 28th, Germany 29th and Spain 44th.
The rankings are based on five main metrics: the cost of living, rent, groceries, eating out and purchasing power. The data is then compiled in an index using New York city, known for how expensive it is, as a benchmark, with an index score of 100.
Malta scored 67.46 for its cost of living, 31.04 in the rent index, 50.04 when considering both the cost of loving and the rent index, 54.9 in the groceries index, 75.94 for restaurant prices and 46.32 in the purchasing power index.
In contrast, Switzerland’s scores were 122.4, 50.25, 87.89, 120.01, 123.01 and 119.53 respectively.
The last three countries on the most expensive list are Pakistan (132nd), Afghanistan (131st) and India (130th).