How Does the Cost of Living Compare in Scandinavia vs. Australia?

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How Does the Cost of Living Compare in Scandinavia vs. Australia?

If you could choose, where would you like to live: sunny Australia or snowy Scandinavia? Of course, these are just the stereotypes that first come to mind when it comes to these two regions situated at opposite corners of the Earth. And yet, the weather is one of the factors that influence one’s decision in such a situation. How Does the Cost of Living Compare in Scandinavia vs. Australia? Learn more.

However, the factor that weighs the heaviest is the cost of living and the possibility of finding work or launching a business. Since both regions are some of the best-developed areas in the world, today, we’ll take a look at the cost of living and how it can affect your life as an expat.

How Does the Cost of Living Compare in Scandinavia vs. Australia?
Australia is known for its high standard of living, but it comes at a pretty steep price. Photo: Central Banking

Cost of Living in Australia

Australia is known for its high standard of living, but it comes at a pretty steep price. According to recent surveys, two Australian cities, Sydney and Melbourne, are on the list of the world’s most expensive cities.

In general, a single person may need around $20,000 per year to get by in the country, while a family needs around $50,000. Of course, the cost of living changes depending on where in Australia you want to live, but big cities and areas around them are quite expensive.

Accommodation costs are the highest, followed closely by food and car costs. Utilities are also pricey, especially with the recent price increases for gas and electricity. Luckily, the Australian government has passed a bill designed to cap the skyrocketing price of utilities, so things should calm down in the near future.

Furthermore, when it comes to electricity, you can choose between several suppliers, depending on the region. To make things easier, Australians use iSelect’s electricity comparison tool to see which supplier can offer the best price for the services.

Cost of Living in Scandinavia

Scandinavia is a geographic region that includes three well-developed countries: Sweden, Norway, and Denmark. As such, we’ll talk about the cost of living in all three countries and compare the results with Australia.

How Does the Cost of Living Compare in Scandinavia vs. Australia?
Swedish 10 kronor. Photo: Wikipedia

Sweden

Sweden is an amazing country to live in, but it’s not for anyone. The quality of life is high, but so is the cost of living. For instance, a family of four living in Stockholm (the country’s most expensive city) will need around $3,900 (without rent) per month to get by.

Just like in Australia, Sweden’s highest expense is accommodation since rent prices climb around 1% per year. Of course, if you don’t plan on staying in a highly populated urban area, you should be able to find affordable housing.

Unlike Australia, the cost of utilities (water and electricity) is fairly reasonable, and it’s often included in the rent. So is WiFi, which makes it a lot easier for renters.

How Does the Cost of Living Compare in Scandinavia vs. Australia?
Denmark, 2 kroner (1912) Wikipedia

Denmark

As one of the happiest countries in the world, Denmark is also quite expensive. If you want to live in the capital city Copenhagen, expenses may rise to around $1,100/month for a single person and around $4,000/month for a family of four. And these don’t include rent or utilities!

Add to this around $1,740 per month for a medium-sized apartment and about $200 for utilities. Luckily, if you have a bike, you won’t have to worry about transportation fares since the Danes love to bike in any kind of weather.

How Does the Cost of Living Compare in Scandinavia vs. Australia?
Norwegian bank notes. Photo: Bank of Norway

Norway

Norway also places high on the happiness index list due to its high standard of living, solid social system, and impressive wages. In general, you can spend between $2,176 and $4,352 per month, depending on where you establish your residence.

If you want to live in one of Norway’s big cities (such as Oslo, Bergen, or Trondheim), you should be prepared to spend $1,100/month for single people and $4,000 for a family of four (without rent).

Rent is not that expensive, with the average around $950 for a mid-sized apartment, but you will be required to put down a deposit worth about three to six months’s rent. Also, utilities are quite affordable at around $170/month and $50/month for internet. However, food is quite expensive in Norway since stores have to import many of the products.

How Does the Cost of Living Compare in Scandinavia vs. Australia? Wrap Up

The cost of living is high in Australia and Scandinavia, but so is the quality of life and the wages. So, if you want to try your luck in any of these countries, it helps to have a budget and a plan to find employment or start a business.

How Does the Cost of Living Compare in Scandinavia vs. Australia?
Nadine Westwood

How Does the Cost of Living Compare in Scandinavia vs. Australia? written exclusively for Daily Scandinavian by Nadine Westwood. Nadine is a registered dietitian, travel blogger & fitness lover. In her spare time, she helps save stray animals. Nadine really does enjoy sharing her fitness journey with others who might need help with weight loss or finding a stress reliever.

Feature image (on top): © Pixabay

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Journalist, PR and marketing consultant Tor Kjolberg has several degrees in marketing management. He started out as a marketing manager in Scandinavian companies and his last engagement before going solo was as director in one of Norway’s largest corporations. Tor realized early on that writing engaging stories was more efficient and far cheaper than paying for ads. He wrote hundreds of articles on products and services offered by the companies he worked for. Thus, he was attuned to the fact that storytelling was his passion.

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