While workers in Switzerland, Denmark and Germany enjoy the highest standards of living in Europe, Estonia, Greece and Portugal despite the affordable cost of living are among the least advantageous countries for workers. However, according to Glassdoor's report entitled Which countries in Europe offer the best standard of living? , Britain languishes in the lower half of the national standings due to the huge amount of money that the British spend on housing. Despite this, the top 19 countries are developed nations, so having a clear strong economy has an impact. Purchasing power, cost of living and the ratio of property price to income are measures of the financial means of the average citizen in a country, which is directly connected to the standard of living.
Having the fourteenth largest economy in the world, according to the IMF, does not harm the standard of living either. Germany Glassdoor interestingly says that Germany ranks third, despite the fact that average nominal wages in the country are relatively low compared to the other countries in the study. Many Britons threatened to leave the UK after the nation voted to leave the European Union in June of this year. Netherlands Glassdoor says the average European has lower living costs than those living in New York City.
The News and World Report's annual Best Countries Report, gathered in partnership with the BAV Group and the Wharton School at the University of Pennsylvania, uses detailed surveys to track a similar but different set of indicators. The Netherlands is one of the most tolerant countries in the world, so its position in the top ten should not surprise us. In addition to Canada and Sweden which occupy two of the top three places (they ranked 22nd and 13th in the ranking of numbers), the two lists include many of the same countries, but due to differences in survey questions or methodology, the order changes. One of the most popular holiday destinations in Europe, Spain has a strong system of well-being and work-life balance, but high youth unemployment has harmed the standard of living of many of its citizens.
It is closely related to (and often used interchangeably with) quality of life, which is generally understood to include the same measures of prosperity as standard of living, but also incorporates physical and mental health and well-being. Standard of living refers to the level of wealth, comfort, needs and material goods available for a particular geographic area. Although Denmark occupies an intermediate level in terms of income, the cost of living is much lower than that of some of its European counterparts, which means that citizens can have more income from disposal. Norway Countries with a high cost of living in their major cities do not necessarily offer the highest standard of living, as can be seen in the case of Norway, Glassdoor says.