Published: Monday, 21th October 2024
The Standard of living in Monaco is 3.84 times better as compared to Kosovo.
In this page, you will find side-by-side Standard of Living comparison between Monaco and Kosovo. We have created 53 standard-of-living indicators. We average the values and ranges of all those indicators and take a mathematically calculated approach to determine which country has a better standard of living between Monaco and Kosovo.
 Indicators  | Monaco  | Kosovo  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $7.424 billion USD | $11.318 billion USD |
GDP Per Capita (2023)  | 190,513 USD | 6,389 USD |
GINI Ratio (2023)  | 0.27 | 0.29 |
Inflation on Consumer Prices (2023)  | Yet to Update | 4.94 % annually |
Central Government Debt (2023)  | Yet to Update | Yet to Update |
Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced within a country in a specific time period, usually a year. It is used to gauge the economic performance of a country and indicates how wealthy and productive a nation is. In simple terms, GDP tells us how much a country is producing and how well its economy is doing.
As per the statistics from the World Bank Data for the year 2023, the total GDP of Monaco is $7.424 billion USD and that of Kosovo is $11.318 billion USD.
On the other hand, Gross Domestic Product (GDP) Per Capita is the average economic output per person in a country. Simply put, it shows how much, on average, each person contributes to the economy, giving an idea of the standard of living and economic well-being of the people in that country.
From the above data, we can say that a person living and working in Monaco contributes more to the country's economy compared to a person working in Kosovo.
Indicators | Monaco | Kosovo |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.956 | 0.762 |
Human Capital Index (HCI) (2024)  | Yet to Update | 0.57 |
Literacy Rate (2023)  | 100% (15 years+ above age) | 91% (15 years+ above age) |
Life Expectancy Ratio (2023)  | Yet to Update | 72.2 years |
Healthy Life Expectancy Ratio (2023)  | 62.6 years | 63.4 years |
Poverty Ratio (2023)  | Yet to Update | 17.6% of total Population |
Unemployment Rate (2023)  | Yet to Update | Yet to Update |
The Human Development Index (HDI) is a measure used to assess the overall well-being and quality of life of people living in a country. The key dimensions that give a country good HDI rank are a long and healthy life, being knowledgeable and having a decent standard of living.
From the above given statistics, we can see that the HDI of Monaco is [ 0.956 ] and the HDI of Kosovo is [ 0.762 ].
The data shows that the people living in Monaco has better income, life expectancy and education level compared to Kosovo.
Indicators | Monaco | Kosovo |
|---|---|---|
Gross National Expenditure (2023)  | Yet to Update | 130.72 % of GDP |
Total Health Expenditure (2023)  | 3.68 % of GDP | 7 % of GDP |
Research and Development Expenditure (2023)  | 0.04 % of GDP | Yet to Update |
Government Expenditure on Education (2023)  | 1.42 % of GDP | Yet to Update |
International Tourism Expenditure (2023)  | Yet to Update | Yet to Update |
Number of International Tourists Arrivals (2023)  | 159,000 | Yet to Update |
Military Expenditure (2023)  | Yet to Update | 1.13 (% of GDP) |
Indicators | Monaco | Kosovo |
|---|---|---|
Number of Doctors (2023)  | 88.9 (Per 10,000 People) | 1.3 (Per 10,000 People) |
Number of Nurses (2023)  | 208.3 (Per 10,000 People) | 4.8 (Per 10,000 People) |
Number of Pharmacists (2023)  | 24.1 (Per 10,000 People) | 0.5 (Per 10,000 People) |
Available Hospital Beds (2023)  | 13.8 (Per 1000 People) | Yet to Update |
Pregnant Women Receiving Prenatal Care (2023)  | Yet to Update | 99.7 % of total Population |
Monaco has 68.38 times more Doctors compared to Kosovo (Per 10,000 People).
Monaco has 43.40 times more Nurses compared to Kosovo (Per 10,000 People).
Indicators | Monaco | Kosovo |
|---|---|---|
Agricultural Land (2023)  | Yet to Update | Yet to Update |
Forest Area (2023)  | Yet to Update | Yet to Update |
CO2 Emissions (2023)  | Yet to Update | Yet to Update |
Access to Electricity (2023)  | 100 % of total Population | 100 % of total Population |
Access to Internet (2023)  | 86.1 % of total Population | 89.44 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 0.01 Billion cubic meters | Yet to Update |
100% of the total Population of Monaco has access to the electricity in their homes, whereas, in case of Kosovo, 100% of the total Population has access to electricity.
Indicators | Monaco | Kosovo |
|---|---|---|
Time Required to Start a Business (2023)  | Yet to Update | 4.5 Days |
New Businesses Registered (2023)  | Yet to Update | 7,250 (New Businesses) |
New Businesses Registration Density (2023)  | Yet to Update | 6.01 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | Yet to Update | 1.4 % of GNI Per Capita |
Indicators | Monaco | Kosovo |
|---|---|---|
Imports of Goods and Services (2023)  | Yet to Update | 70.48 % of GDP |
Total Fuel Imports (2023)  | Yet to Update | Yet to Update |
Cost to Import Border Compliance (2023)  | Yet to Update | 128.33 USD |
Time to Import Border Compliance (2023)  | Yet to Update | 5.5 Hours |
Cost to Import Documentary Compliance (2023)  | Yet to Update | 42.22 USD |
Time to Import Documentary Compliance (2023)  | Yet to Update | 6.03 Hours |
Indicators | Monaco | Kosovo |
|---|---|---|
Exports of Goods and Services (2023)  | Yet to Update | 39.75 % of GDP |
Total Fuel Exports (2023)  | Yet to Update | Yet to Update |
Cost to Export Border Compliance (2023)  | Yet to Update | 105 USD |
Time to Export Border Compliance (2023)  | Yet to Update | 3.5 Hours |
Cost to Export Documentary Compliance (2023)  | Yet to Update | 50 USD |
Time to Export Documentary Compliance (2023)  | Yet to Update | 5 Hours |
Indicators | Monaco | Kosovo |
|---|---|---|
Gross National Savings (2023)  | Yet to Update | 26.63 % of GDP |
Tax Revenue (2023)  | Yet to Update | Yet to Update |
Taxes on Exports (2023)  | Yet to Update | Yet to Update |
Taxes on Goods and Services (2023)  | Yet to Update | Yet to Update |
Taxes on International Trade (2023)  | Yet to Update | Yet to Update |
Time to Prepare and Pay Taxes (2023)  | Yet to Update | 153.5 Hours |
Customs and Other Import Duties (2023)  | Yet to Update | Yet to Update |
We hope you enjoyed the detailed guide on the standard of living comparsion between Monaco and Kosovo.
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