Car rental agency

This is the most expensive country to rent a car – 24/7 Wall St.

Individuals and businesses rent cars for a number of reasons. Often those who travel need transportation once they arrive at their destination. People may have to rent cars when the ones they own need repairs. Car rental has become big business and the car rental industry has become huge. Avis and Hertz clog airports around the world and have rental locations in many cities.

As the price of cars has gone up, so will, almost certainly, the price of car rentals. The supply of new and used cars is tight. This is due to a shortage of chips used in car electronics and infotainment systems. Rental companies have to pay more for cars. People who need cars but can’t buy them have to rent them. For the car rental industry, this is a good set of circumstances.

Confused.com has published a new study titled “Raise the Price: The Cheapest and Most Expensive Countries to Rent a Car”. The authors point out that “travel costs can vary significantly from country to country. Renting a car isn’t always cheap, nor is the fuel you need to get from point A to point B. Not to mention the additional car insurance you’ll likely need to purchase.

The study looked at prices in 60 countries. Data sources included GlobalPetrolPrices.com and AutoEurope.co.uk. Ukraine and Russia were not included. The costs were based on pounds sterling, each equaling $1.30.

The two most expensive countries are remote islands. Iceland top the list with £1,041. It was followed by New Zealand at £947. A number of high ‘cost of living’ countries were also in the top 10. These included Israel at £574, Japan at £562 and Switzerland at £509.

At the far end of the list, Thailand was the cheapest at £124.00, followed by Azerbaijan at £157.00 and Lebanon at £184.00.

Click here to read This is the most expensive country to buy a car