Why are io domains expensive?

Mywebshosting.com

What Is IO Domain Meaning

This .io domain (ccTLD) is nominally assigned to British Indian Ocean Territory.

 In recent years the .io domain has been increasingly used by many technologies, tech start-ups, software, and gaming companies.

So it is costly because these .io country code top-level domains are referred to as technology.

Why Is .io Domain Popular?

Arrow