28.05.2026, 14:51
Switzerland has ceded the status of the most expensive country to another state
Source: OREANDA-NEWS
OREANDA-NEWS Iceland has once again become the most expensive country in the world, surpassing Switzerland for the first time in many years. This was reported by Bloomberg with reference to the trade union of office workers of the island state Viska union.
It turned out that the price level in Iceland is currently three percentage points higher than in Switzerland. The fact is that the post-pandemic surge in tourism (which is a key engine of growth) has spurred both an economic upswing and a rise in prices.
According to the trade union, tourism makes a huge contribution to the inflation in the service sector. Demand pressure from tourism has led to higher wages. In addition, the housing market has been affected by tourism.
In 2024, the price level in Switzerland, adjusted for purchasing power, exceeded Iceland's by more than seven percentage points.
It is assumed that rising prices in Iceland will soon begin to scare away tourists. As the trade union complained, Iceland does not develop productive sectors of the economy, which increases its vulnerability.
In the fall of 2025, Iceland entered the list of countries with the most expensive bread. In addition, Bermuda, the Cayman Islands, Monaco and the Bahamas were among the top ten such countries. Tunisia, Eswatini, Afghanistan, Libya, Chad, Uzbekistan, Kyrgyzstan, Kazakhstan and Azerbaijan boasted the cheapest bread.
It turned out that the price level in Iceland is currently three percentage points higher than in Switzerland. The fact is that the post-pandemic surge in tourism (which is a key engine of growth) has spurred both an economic upswing and a rise in prices.
According to the trade union, tourism makes a huge contribution to the inflation in the service sector. Demand pressure from tourism has led to higher wages. In addition, the housing market has been affected by tourism.
In 2024, the price level in Switzerland, adjusted for purchasing power, exceeded Iceland's by more than seven percentage points.
It is assumed that rising prices in Iceland will soon begin to scare away tourists. As the trade union complained, Iceland does not develop productive sectors of the economy, which increases its vulnerability.
In the fall of 2025, Iceland entered the list of countries with the most expensive bread. In addition, Bermuda, the Cayman Islands, Monaco and the Bahamas were among the top ten such countries. Tunisia, Eswatini, Afghanistan, Libya, Chad, Uzbekistan, Kyrgyzstan, Kazakhstan and Azerbaijan boasted the cheapest bread.
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