Cost Of Living
What is the cost of living in Democratic Republic of Korea? The cost of living for expatriates in Democratic Republic of Korea as at October 2023 is average in comparison to other places in the world, with an overall Cost of Living Index (COLI), for all 13 basket groups, of 72.21 (New York =100). We have collected prices for the same items, world wide, based on Expat spending norms, in or closest to the location, and converted them to $USD so that we can compare the cost of 13 different baskets in 780 global locations. For each basket, compared to New York, the equivalent cost in Democratic Republic of Korea is as follows:1) Alcohol and/or Tobacco: Cost is very high for items such as beer, spirits, wine and tobacco related products such as cigarettes. A basket costing USD$1,000 in New York costs USD$1050. 2) Clothing: Cost is low for items such as business, casual and children's clothing and footwear. A basket costing USD$1,000 in New York costs USD$550. 3) Communication: Cost is average for various communication costs such as home telephone rental, internet subscription, mobile service provider tariff and data costs. A basket costing USD$200 in New York costs USD$190. 4) Education: Cost is very high for items such as creche / pre-school fees, primary school fees, high school fees and tertiary study fees. A basket costing USD$30,000 in New York costs USD$31500. 5) Furniture & Appliances: Cost is high for items such as dining table and chairs, home entertainment, kitchen appliances, and sofas. A basket costing USD$2,500 in New York costs USD$2400. 6) Groceries: Cost is high for items such as consumables, cleaning products, dairy, fresh fruit & vegetables, general food products, snacks, soft drinks. A basket costing USD$1,000 in New York costs USD$870. 7) Healthcare: Cost is average for general heath care, doctor visits, hospital stays, non-prescription medicine, and medical insurance. A basket costing USD$1,000 in New York costs USD$620. 8) Household Accommodation: Cost is very low for items such as apartment rent, house rent, property purchase, mortgage rate, and utilities. A basket costing USD$5,000 in New York costs USD$950. 9) Miscellaneous: Cost is very high for items such as dry cleaning, linen, magazines, newspapers, office supplies, and postage stamps. A basket costing USD$500 in New York costs USD$850. 10) Personal Care: Cost is high for items such as cosmetics, hair care, and toiletries. A basket costing USD$500 in New York costs USD$415. 11) Recreation & Culture: Cost is very high for items such as books, cinema, sport and theatre tickets. A basket costing USD$500 in New York costs USD$595. 12) Restaurants Meals Out and Hotels: Cost is average for items such as hotel daily room rates, meals and beverages in a restaurant, and take away food and beverages. A basket costing USD$1,000 in New York costs USD$530. 13) Transport: Cost is high for items such as fuel (petrol/gasoline), car hire, public transport, vehicle purchase and maintenance. A basket costing USD$1,000 in New York costs USD$990.
How does the cost of living in Democratic Republic of Korea compare? Democratic Republic of Korea is 9.6% more expensive than USA for groceries, -68.2% cheaper for household costs than UK, and 95.7% more expensive for transport costs than India.
What is the quality of life / hardship in Democratic Republic of Korea? Democratic Republic of Korea is ranked as an extreme hardship location.The hardship premium for Democratic Republic of Korea for an expat from Australia, is for example 30%, i.e. host location (the Democratic Republic of Korea) premium of 40% minus home (Australia) location premium of 10%.
Want to know more about cost of living, hardship (quality of living) or expat salary in Democratic Republic of Korea? Register subscribe to your home location and Democratic Republic of Korea and run your personalised reports.