





The correlation between cost of living and fertility rate in very high HDI countries is very weak
For very high HDI countries, between the countries with the highest and lowest cost of living, median fertility rates were not significantly different despite up to a 2.75 times difference in cost of living, as shown below.
Median values for top and bottom 5/10/15 cost of living countries categorised "very high" HDI in 2024 (top = highest cost of living)
| Cost of living | Cost of Living Index | Fertility rate | HDI |
|---|---|---|---|
| Top 5 | 83.0 | 1.37 | 0.946 |
| Top 10 | 76.3 | 1.46 | 0.957 |
| Top 15 | 70.8 | 1.47 | 0.946 |
| Bottom 5 | 30.0 | 1.50 | 0.832 |
| Bottom 10 | 32.4 | 1.49 | 0.828 |
| Bottom 15 | 35.0 | 1.49 | 0.837 |
Note that the average fertility rates of developed and high-income countries were 1.45-1.48 in 2023.
Data set: https://docs.google.com/spreadsheets/d/1iGGaQw6hnIETIoYnbjSr-L9pzMy00kIsm4GDOtSXegM/edit?usp=sharing
Sources
Cost of living data (2024 Mid-Year): https://www.numbeo.com/cost-of-living/rankings_by_country.jsp?title=2024-mid
Fertility rate data (2024 list by the World Bank): https://en.wikipedia.org/wiki/List_of_countries_by_total_fertility_rate
HDI data (2023): https://worldpopulationreview.com/country-rankings/hdi-by-country