According to a study by the British “Economist”, the cost of living has risen sharply in many cities. This is also due to the pandemic. Tel Aviv replaces Paris as the most expensive city in the ranking.
1. Tel Aviv
The study records and compares the cost of living in 173 cities around the world. The champion this year is the Israeli coastal city of Tel Aviv. Supply chain problems and draconian pandemic measures that have reduced production and trade have helped boost the cost of living for many people.
2. Paris
Last year the French capital was at the top of the list, this year it is “only” in second place. Paris has been one of the most expensive cities in the world for years, but that does not stop tourists from visiting the culturally rich metropolis. One of the absolute highlights is the Moulin Rouge in Montmartre.
3. Singapore
This year Singapore is on the same level as Paris. The country in Southeast Asia is a global financial center. Apart from its wealth, the big city is also known for its draconian laws. For example, it is strictly forbidden to use someone else’s Wi-Fi. Anyone who violates it is threatened with a fine of up to 10,000 euros.
4. Zurich
Although the cost of living in Switzerland is generally very high, Zurich has a special role to play. Due to the large migration in recent years, rents have risen sharply and there are almost no vacant houses. Prices are astronomical. According to statistics, the average rental price is over 25 euros per square meter per month.
5. Hong Kong
High housing prices are also the reason why Hong Kong is so high in the rankings. The former British colony is considered one of the most densely populated areas in the world. The monthly rent is about 2,000 euros for a tiny room in one of the many skyscrapers.
6. New York
New York is not only the most expensive city in the United States, but also the sixth in the world. Native New Yorkers are a rare species here. Buying an apartment in Manhattan is a big challenge, even for well-paid international financial analysts. Prices for an apartment can be tens of millions.
7. Geneva
There is a rumor that in no other city is a sandwich club as expensive as in Geneva. But what does this say about a country’s overall price level? Enough, because the Swiss city on the beautiful lake of Geneva, where many international organizations are based, is among the top in the ranking. The sandwich costs almost 30 Swiss francs …
8. Copenhagen
The cost of food, alcohol and consumer goods in the country is about 40% higher than the EU average. But the city is in demand, especially among young students. In addition, it is the ideal point for connecting other Nordic countries and the rest of mainland Europe by ship.
9. Los Angeles
The city of Angels. Hollywood. The homeland of the big stars. There is almost nothing more connected to a luxurious and expensive lifestyle than Hollywood. As the hub of the multi-billion dollar entertainment industry, the city is a magnet for budding actors, directors and creators from around the world hoping to make a lot of money.
10. Osaka
The big city is located next to Tokyo, the financial center of Japan. The city is also a popular travel destination. The cost of living is very high, especially for accommodation. In comparison, the prices per square meter are significantly higher than in the rest of the already very expensive island state.
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