Denmark ranked world’s fifth most expensive country

Denmark ranked world’s fifth most expensive country

Denmark has been listed as the world’s fifth most expensive country to live in, according to data from the World Bank-backed International Comparison Program (ICP).

Danes who consider their own country too pricey to live in comfortably and are looking to head to pastures new should avoid heading to Switzerland, fellow Scandinavian country Norway, the Caribbean island group Bermuda and the land down under, Australia, which were ranked in the top four positions respectively.

These are the only four countries where prices for services and goods are higher than they are in Denmark, where the average cost of things is 85 per cent more than the IPC’s international average.

IPC compiled the list by comparing the GPD per capita from each country from 2011. The research found that Egypt was the world’s cheapest country to live in, with Pakistan, Myanmar and Ethiopia filling the next three positions respectively.

Fellow Scandinavian countries Sweden and Finland also made the top 10, coming in sixth and eighth position respectively. Japan was the only Asian country in the top 10, ranked in seventh position, while Luxembourg and Canada filled the remaining two places.

Although nations classed as “high-income” made up just 17 per cent of the world’s population in 2011, they accounted for half of the world’s wealth.