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Austria – Cost of Living

Austria is a small, landlocked country in central Europe known for its beautiful mountains, rich culture, and delicious food. However, how does the cost of living in Austria compare to that of other countries? In this article, we will answer this question and provide a breakdown of costs for singles, couples, and families of four in Austria.

Local Currency in Austria

The official currency of Austria is the Euro (EUR). The Euro is widely accepted in Austria, and major credit cards are also accepted in many businesses. ATMs are widely available, and currency exchange services are also available in many locations.

Cost of Living in Austria vs UK and USA

The cost of living in Austria is generally higher than that of the UK and the USA. According to Numbeo, a website that provides information on the cost of living in countries around the world, the cost of living in Austria is 17.47% higher than in the UK and 27.45% higher than in the USA. This means that it is generally more expensive to live in Austria than in either of these countries.

Breakdown of Costs in Austria

To provide a more detailed understanding of the cost of living in Austria, we will break down costs for singles, couples, and families of four in the following categories: housing, food, utilities, leisure, transport, clothing, and household goods. All costs are approximate and based on current prices as of 2023.

Housing

The cost of housing in Austria can vary widely depending on the location and size of the property. According to Numbeo, the average monthly rent for a one-bedroom apartment in the city center is EUR 750-1,200, while a three-bedroom apartment in the same location can cost EUR 1,500-2,500 per month. For those looking to buy property in Austria, the average cost per square meter in the city center is EUR 4,500-7,500.


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Food

The cost of food in Austria is generally affordable, although it can be more expensive than in some other countries due to the country’s small size and reliance on imported goods. A loaf of bread costs approximately EUR 1.50, a liter of milk is around EUR 0.80, and a dozen eggs cost EUR 2.50. A meal for two in a mid-range restaurant can cost between EUR 40 and EUR 70. Grocery prices can be higher than in the UK and the USA due to the cost of transportation and import duties.

Utilities

Utilities such as electricity, water, and gas can be relatively expensive in Austria. The average monthly cost for these services is around EUR 150-250. Internet and mobile phone plans are also reasonably priced, with unlimited internet plans starting at around EUR 30 per month.

Leisure

Austria is known for its cultural attractions and outdoor activities, and the cost of leisure pursuits in the country can vary depending on the activity. A visit to a museum or art gallery can cost between EUR 10 and EUR 15, while a day trip to a nearby ski resort can cost EUR 50-100 per person. A cinema ticket costs around EUR 10, and a fitness club membership is approximately EUR 30-50 per month.

Transport

The cost of transportation in Austria can vary depending on the mode of transportation. A liter of gasoline costs around EUR 1.40, and a monthly public transportation pass is around EUR 50-80. Taxis are also available, with an initial charge of EUR 3.80 and a cost of around EUR 1.80 per kilometer.

Clothing

The cost of clothing in Austria can vary widely depending on the type of clothing and the location. High-end fashion brands can be relatively expensive, while other clothing items can be more affordable. A pair of jeans costs around EUR 80, while a business suit can cost between EUR 300 and EUR 500.

Household Goods

The cost of household goods in Austria can vary widely depending on the type of goods. A basic set of furniture for a one-bedroom apartment can cost around EUR 2,000-3,000, while a washing machine costs approximately EUR 400-700. Electronics such as televisions and laptops can also be relatively expensive in Austria due to import duties.

Forms of Payment in Austria

The most common forms of payment in Austria are debit/credit cards and cash. The Euro is widely accepted, and many businesses also accept major credit cards such as Visa and Mastercard. However, it is recommended to carry cash as some smaller businesses may not accept cards. ATMs are widely available throughout the country, and currency exchange services are also available.

The cost of living in Austria is generally higher than that of the UK and the USA due to the country’s small size and reliance on imported goods. The cost of housing, utilities, and transportation can be relatively expensive, while food and leisure activities are generally affordable. Debit/credit cards and cash are the most common forms of payment, and the Euro is widely accepted. As with any country, the cost of living in Austria can vary widely depending on individual circumstances and lifestyle choices. However, for those looking for a rich cultural experience and a high standard of living, Austria can be an attractive option.


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