Each year, the research unit of The Economist publishes two reports – of the most expensive and cheapest cities to live in the world. The first report, which is called the Worldwide Cost of Living, considered factors such as the price of food, fuel and income levels. Due to the strengthening of the US dollar and the devaluation of national currencies of other countries in the rankings this year, one can observe a major change compared with the previous report. Before you – the nine most expensive cities to live in the world.
9. Seoul, South Korea
The capital of South Korea was among the most expensive cities in the world to stay due to high prices for clothing and high utility rates. According to The Economist, the cost of living is comparable to the Copenhagen and Los Angeles.
8. Copenhagen, Denmark
The Danish capital this year has maintained its status as one of the most expensive cities in the world due to the high prices in relation to wages.
7. New York, USA
According to the report, the strengthening dollar and local inflation makes New York one of the most expensive cities. For example, the average price in the US for a kilogram of bread is 8.28 dollars, and in New York it will be twice as high.
6. London, United Kingdom
Growth of wages slowed down in London and did not keep pace with the inflation and soaring housing prices.The average price of housing in the British capital is much higher than 500 thousand pounds, but the average salary is about 30 thousand pounds a year.
5. Paris, France
Because of the weak credibility of the euro in Paris was the only city in the euro-zone in the top ten most expensive cities in the world. Despite the weakness of the euro in Paris is still very expensive to live, and the only thing that is relatively fair prices – is tobacco and alcohol.
4. Geneva, Switzerland
In Geneva, virtually everything is very expensive, and even services in the field of recreation and entertainment – some of the most expensive in the world.
3. Hong Kong, China
During the year, Hong Kong has risen in the ranking of most expensive cities in the seven positions of the incredibly high price of housing and the rising cost of local costs.
2. Zurich, Switzerland
Due to the separation of the Swiss franc against the euro, as well as the traditionally high level of income and lives in Zurich, prices remained almost the most expensive in the world.
The small island nation retains the title of the most expensive city for the third consecutive year in the world, but analysts The Economist argued that the cost of living difference with cities such as Hong Kong and New York, almost came to naught, as the cost of living has increased almost everywhere.
Source – Businessinsider.in