Norway exhibits very expensive costs with a Cost of Living Index (CPI) of 89.18 (NYC = 100). Groceries (93.42) and restaurants (92.78) are particularly high, though the Rent Index (29.18) indicates comparatively lower rental costs.

The property price to income ratio is 7.71 years, indicating an affordable housing market. The rental market, with a Rent Index of 29.18, is also relatively affordable.

An excellent purchasing power index of 139.13 suggests strong buying power for residents, reflecting high average incomes.

Norway has a dual income tax system with a general income tax of 22% and a progressive bracket tax (Trinnskatt) ranging from 0% to 17.6% for higher incomes in 2024. The standard VAT rate is 25%, with reduced rates for certain goods and services. Property taxes are municipal and vary, typically between 0.1% and 0.4% for residential properties, and a wealth tax is also levied.

Norway was ranked 9th in the World Bank's 2020 Doing Business Report and 24th in the Global Startup Ecosystem Index 2025. The country boasts a strong startup ecosystem, particularly in deeptech, cleantech, and maritime-tech, supported by government initiatives and a stable regulatory environment.

Norway offers a comprehensive social security system, including universal public healthcare funded by taxation, a robust National Insurance Scheme for pensions, and unemployment benefits managed by NAV. Eligibility for expats typically requires residency and contributions.

Deposits are protected up to NOK 2,000,000 (approximately USD 213,470 as of April 2026) per depositor per member bank under the statutory Norwegian Banks' Guarantee Fund. The banking sector is stable with strong central bank oversight.