BRL 25.5 for coffee and other prices that make Hong Kong the most expensive city in the world

Hong Kong is the city with the highest cost of living for foreigners, according to a survey by mobility company ECA International published on Tuesday (7). Next are New York (United States), Geneva (Switzerland), London (United Kingdom) and Tokyo (Japan).

London and New York stand out for significant increases in the cost of living, mainly caused by the increase in rent – ​​by 20% and 12%, respectively, compared to 2021.

Gasoline and cooking oil prices also rose significantly, among other products and services purchased on a daily basis.

In Hong Kong, which in 2021 also occupied the first place in the ranking, values ​​reach R$ 25.50 (US$ 5.21) for a cup of coffee, R$ 56.34 (US$ 11.51) for kilo of tomato, R$ 28.53 (US$ 5.83) per liter of cooking oil and R$ 21.49 (US$ 4.39) per liter of milk.

The analysis is from March 2022, considering 207 cities spread across 120 countries and territories. In 207th place is Ankara, the capital of Turkey.

CITIES WITH THE HIGHER COST OF LIVING FOR FOREIGNERS

1. Hong Kong, in Hong Kong

2. New York in the USA

3. Geneva, Switzerland

4. London, UK

5. Tokyo in Japan

6. Tel Aviv in Israel

7. Zurich, Switzerland

8. Shanghai, China

9. Guangzhou, China

10. Seoul, South Korea

11. San Francisco (California), USA

12. Shenzhen, China

13. singapore in singapore

14. Beijing, China

15. Jerusalem in Israel

16. Bern, Switzerland

17. Yokohama, Japan

18. Copenhagen, Denmark

19. Oslo, Norway

20. Taipei in Taiwan

GASOLINE INCREASED BY AVERAGE 37%

Among the cities surveyed, gasoline prices increased by an average of 37%. The only place where there was no rise was Bamako, the capital of Mali, which production manager at ECA International, Steven Kilfedder, has linked to government subsidies. On the other hand, Beirut, the capital of Lebanon, saw an increase of 1,128%.

In Hong Kong, the city with the highest cost of living, you also pay more per liter of fuel: a total of 2.26 pounds per liter, corresponding to R$13.84.

Gasoline was cheaper in the capitals of Angola, Luanda, and Iran, Tehran.

Despite the economic sanctions applied to Russia, domestic supply and oil refinement led to the smallest increase in fuel prices among the European territories analyzed, its second most populous city, Saint Petersburg.

On the other hand, the cost of living in the capital Moscow increased by 17%. The city occupies the 62nd position in the ranking.

POSITION OF BRAZILIAN CITIES IN THE RANKING

Belo Horizonte, Brasília, Rio de Janeiro and São Paulo, Brazilian cities included in the ranking, rose in position.

“Following challenges in previous years due to Covid and the political unrest that caused the real to fall, the Brazilian currency underwent a turnaround as rising interest rates to fight inflation, rising commodity prices and improving economic The covid scenario strengthened the real, making the country more expensive for expatriates and visitors than last year”, says Kilfedder in a press release.

To Folha, Kilfedder added: “Brazil has always been a very interesting country in our rankings, because it rose and fell regularly over the years, depending on how well the real was in relation to other countries. , prices rose quite significantly, but the currency was not very strong.”

SURVEY DOES NOT REFLECT THE FEELINGS OF INHABITANTS OF THE COUNTRY

The survey is aimed at tourists and expatriates, with changes in classification informing foreigners about their purchasing power in certain locations and periods. Thus, they do not necessarily reflect the impressions that a local inhabitant has of changes in their cost of living.

An example is Santiago, capital of Chile. Despite rising inflation, the city dropped 21 positions from the 2021 ranking, going from 98th to 119th most expensive city.

“A local will not recognize the description of Santiago as cheaper, as its prices are increasing significantly. But for people from other countries, Santiago is a little cheaper than other cities, as now your money will be able to buy more than before,” explains Kilfedder.