Despite recent exchange rate movements, Norway remains one of the world’s most expensive countries for expats. The premise of life in Norway is simple: salaries are relatively high, tax is high, and the cost of living is high.
Once you have been living in Norway for a year or two and are fully “inside” the Norwegian economy (i.e. you earn, save and spend in kroner) you will find the sums make more sense. But the first year can often be a huge challenge for new arrivals adjusting to a different economy.
The currency used in Norway is the Norwegian krone. The currency has fluctuated significantly over the last five years due among other things, the falling oil price. Read the full article.
Cost of Living
The first questions on the lips of everyone considering a move to Norway are always the same. What exactly is the cost of living like? Is it really as expensive as everyone says? Does a beer really cost $13/£8? These are simple yet complex questions to answer, but the short answer is yes, Norway is an expensive country. Read the full article.
A Cashless Society
Norway, and the whole of the Nordic for that matter, is largely a cashless society. Of course cash is still used on a daily basis, but most Norwegians don’t carry much around with them. Nearly all bills are settled electronically, shops accept credit and debit cards for even the smallest transactions, and the quality and adoption of internet banking is extremely high.
Useful read: DanskeBank brings MobilePay to Norway
A major step towards a cashless society, mobile payments have exploded across Norway in recent times. Residents can pay for their parking and their groceries with smartphone apps, and it’s never been easier to split costs with friends in restaurants or on shopping trips. Read the full article.
There’s lots of misinformation about taxation in Norway, so here we try to pull together the facts about everything from income tax to VAT. Read the full article.