Are you planning a vacation soon? If you were thinking of visiting some places like Hong Kong or Iceland, then you may want to reconsider your decision or at least make sure that you have enough money because these places are very expensive. Or are you thinking of relocating? Have you wondered what country is the most affordable or the most expensive to live in?

This excellent article from Insider Monkey points out some of the most expensive and cheapest places in the world to live in this year, so if you are curious and want to know more about these countries, make sure to read through. As expected, developed countries known for their high living standards made it to the top of the list such as Iceland, Norway, Switzerland and more. While these countries are beautiful, they are extremely expensive to live in.

Check out the 16 countries with the highest cost of living in the world in 2017.