Maldives (Commonwealth Union)_ The Maldives has been named the most expensive country to live in across South Asia, according to new figures released by the Bangladeshi financial outlet FinTech News. The analysis, based on data gathered through October, compared the cost of living across several South Asian countries, excluding rent and housing costs. The report shows that the Maldives tops the list, followed by Sri Lanka and Bhutan. Even when rent is not considered, day-to-day expenses such as food, utilities, and transportation remain significantly higher in the Maldives compared to neighboring countries.
Also read: Historic first: India watches as Kerala becomes the first state to end extreme poverty!
Average monthly cost of living (per person, excluding rent)
Maldives: USD 840.4
Sri Lanka: USD 507.6
Bhutan: USD 387.2
Afghanistan: USD 381.8
Bangladesh: USD 348.9
Pakistan: USD 340.4
Nepal: USD 335.6
India: USD 313.4
According to the research, the average Maldivian spends approximately MVR 12,952.8 (about USD 840) per month on essential living expenses, excluding rent. This figure offers a bleak image for many Maldivians, as the country’s minimum salary remains significantly below the amount required to cover basic needs. The Maldives’ current minimum wage is MVR 7,000 for government employees and those in medium-sized organizations, MVR 4,500 for those employed by small businesses, and MVR 8,000 for workers in large corporations. For many people, especially those in low-wage jobs, the high cost of necessities consumes almost all of their income, leaving little to no room for savings or emergencies.
Also read: A 150-year legacy: PM Modi honors India’s timeless national song – Vande Mataram!
Economists stress that the growing disparity between income and expenses is placing severe financial strain on working families. With inflation being high and earnings stagnant, many Maldivians are struggling to keep up with basic expenses like groceries, transportation, and healthcare. In recent months, food prices have risen dramatically. Business owners attribute the spike primarily to the strong US dollar and foreign exchange market swings. The unofficial currency rate has been hovering at MVR 20 per dollar for some time, keeping import expenses high.
A 2019 survey by the National Bureau of Statistics found that the monthly cost of living in the Malé region exceeded MVR 37,000 for a household, averaging more than MVR 7,000 per person. Most of these expenses were for essentials such as food and utilities. The same study showed that the average household income was MVR 35,596, nearly equal to or even below what was required to sustain a family comfortably. Housing also remains one of the biggest burdens for Maldivian families. On average, middle-income households spend around 35 percent of their income on rent, while low-income families allocate nearly 68 percent. Wealthier households, in contrast, spend about 28 percent on rent.
Also read: A taste of paradise: Sri Lanka joins the world’s culinary elite!
Sri Lanka follows as the second most expensive in the region. Sri Lanka ranks second on the list, with an average cost of living of about USD 506 (approximately Rs. 153,899) per person, excluding rent, according to data from Numbeo, a global database that compiles user-reported living expenses. According to the Central Bank of Sri Lanka’s Annual Economic Review 2024, the average monthly household spending increased by 1.6 percent from Rs. 103,383 in 2023 to Rs. 105,063 in 2024 for a family of four living in Colombo, excluding rent. These expenses include necessities like groceries, education, childcare, healthcare, and transportation.
Although this increase is smaller compared to the sharp jumps of previous years, 74.9 percent in 2022 and 16.5 percent in 2023, it still reflects ongoing economic strain. Between September 2024 and September 2025, the price of nine commonly consumed vegetables increased by 42.7 percent, climbing from Rs. 225 per kilogram to Rs. 321.10, according to data from the Central Bank. With both the Maldives and Sri Lanka facing high living costs and limited wage growth, households across the region are increasingly turning to difficult measures to make ends meet, from cutting back on essentials to relying on debt, as the cost of daily life continues to climb.
