And what about the cost of living? Generally speaking, compared to Europe, the cost of living in the US is higher. That's because Europeans don't have to spend as much on healthcare, the euro currency is weakening, and inflation is not as high. However, there are downsides, too. Average wages are higher in America, and Europeans spend more of their income on taxes.
Compared to non-European countries, like the UK, living in the US can be pretty expensive, too. Although it depends on the state you are in, if we compare two cities with similar populations, the UK is cheaper. For example, rent prices in London are 29.5% lower than in New York. However, the average salary after taxes is bigger in NYC by 42%.
As Gen Zers list Japan as the third most popular destination for immigration, let's see if the cost of living differs much from the US. Rent in metropolitan areas is pretty much the same. Groceries tend to be 18% more expensive in Japan, but meals at restaurants are 45% pricier in the US than in Japan.
The biggest difference is in health insurance costs. Yearly insurance for a Japanese person costs around $1,000, and a premium plan for one American worker costs about $7,911.
You might also like: 43 absurdly funny memes shared online that make little sense