The most expensive city in the world named

Posted on : 12/01/2022
The most expensive city in the world named
Travel 

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The Worldwide Cost of Living Index has found that the average cost of living is up by eight percent around the world. But which are the world’s most expensive cities to live in?

The world’s most expensive cities (Economist Intelligence Unit)

  • New York and Singapore
  • Tel Aviv, Israel
  • Hong Kong and Los Angeles
  • Zurich, Switzerland
  • Geneva, Switzerland
  • San Francisco, California
  • Paris, France
  • Copenhagen, Denmark

The study looked at the cost of over 200 products and services in 172 cities around the globe to find the most expensive.

New York was named the most expensive city in the world for the first time. A meal in a cheap restaurant in the city is around 25 dollars (£20).

The price of a latte from Pret a Manger in New York is £5.39 while a chicken salad sandwich comes in at £10.99 (prices from Uber Eats).

The same items are £3.65 and £4.99 on Uber Eats from a London Pret a Manger, making New York a pricey holiday for a British tourist.

Singapore was in joint first place with New York, a small rise from its second place position in 2021.

The city placed in number one in eight of the last 10 years and has always been one of the world’s most expensive cities.

While housing is very expensive in Singapore, tourists can keep costs down by eating at food courts.

Singapore is known for its incredible street food and it is often very inexpensive with high hygiene standards.

Switzerland remained the most expensive European destination with both Zurich and Geneva on the list.

Paris also made the list while Copenhagen was the only Scandinavian destination to make the top 10.

Tel Aviv was the world’s second most expensive city and Hong Kong and Los Angeles tied for fourth place.

The USA is fast becoming a pricey destination for British tourists with San Francisco also in the top 10 most expensive spots.

“The war in Ukraine, Western sanctions on Russia and China’s zero-Covid policies have caused supply chain problems that, combined with rising interest rates and exchange-rate shifts, have resulted in a cost-of-living crisis around the world,” said Upsana Dutt, head of worldwide cost of living at the EIU.

She said: “We can clearly see the impact in this year’s index, with the average price rise across the 172 cities in our survey being the strongest we’ve seen in the 20 years for which we have digital data.

“The rise in petrol prices in cities was particularly strong but food, utilities and household goods are all getting more expensive for city-dwellers.”

Both Moscow and St Petersburg saw significant rises in living costs following the invasion of Ukraine.

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