Cost of Living in Australia

The signifcant plunge in cost of living that Australia experienced due to the dramatic depreciation in the currency against the US dollar in 2009 has all but recovered. Once more, it's two most cosmopolitan cities are within the top 50 most expensive cities to live in - according to the 2010 Mercer Cost of Living survey.

Sydney is still the most expensive city in the nation for expatriates and is 24th on the global expat destination list; Melbourne follows close behind at 33rd.

As is always the case, an expat’s cost of living depends on lifestyle choices. More generally speaking though, the cost of food is comparable to that of the US and petrol prices in Australia are relatively inexpensive; distances are vast, so travelling across the country can be a costly.

Some expats do complain that living in Australia comes at a premium considering the fairly substantial income tax rates that can range from 17% to 47%. The government’s strong emphasis on social welfare and benefits does have its downside for the taxpayer, but is a greater equaliser for its citizens.