The Maldives has been identified as the country with the highest cost of living in South Asia, excluding rent, according to data compiled by the Bangladeshi financial publication FinTech News.

The analysis, based on figures collected up to October, reveals that the Maldives ranks above all other countries in the region in terms of living expenses, even without factoring in housing or apartment rental costs. Sri Lanka and Bhutan follow in second and third place, respectively.

According to the report, the average monthly cost of living per person in the Maldives, excluding rent, amounts to MVR 12,952.8.

This figure highlights a stark economic reality for ordinary citizens. The average Maldivian must spend nearly MVR 13,000 a month to meet basic living expenses, while the minimum wage for many workers remains well below that threshold.

Currently, the minimum wage in the Maldives stands at MVR 7,000 for civil service employees and workers in medium-sized businesses, MVR 4,500 for small business employees and MVR 8,000 for those in large businesses. Even for civil servants, this cost of living nearly matches or exceeds their total monthly income, excluding higher-ranking positions.

The data underscores the widening gap between income and living costs in the Maldives, exposing the growing financial strain on the country’s working population. As inflation persists and wages remain stagnant, many Maldivians are finding it increasingly difficult to afford basic necessities in what is now the most expensive country to live in across South Asia.