< Back to blog

World’s most expensive cities revealed Posted On 22 March 2019

UK cities have risen up the list, but it’s a three-way tie at the top for the most expensive cities in the world!

 

This year, for the first time in its thirty-year history, the Economist Intelligence Unit’s (EIU) Worldwide Cost-of-Living Survey has Paris, Singapore and Hong Kong in joint place at number one.

 

Paris, which has been in the top ten since 2003 rose one spot, while Hong Kong rose three places and Singapore stayed at number one for the sixth year running. The survey shows that all three cities are 7 per cent more expensive than New York.

 

Zurich and Geneva complete the top five of the survey which compares the cost of 160 common items such as rent, food and public transport in 133 cities globally, using New York as a benchmark.

 

Only two UK cities were in the list; London rose eight places up to joint 22nd with Melbourne and Milan, and Manchester was joint 51st alongside Adelaide, Lyon and Boston in the USA.

 

Some may be surprised that London isn’t higher up, however, last year London had dropped to 30th in the list. The rankings show a recovery in value for Sterling amid ongoing politics and a surge in domestic prices as a major factor in its climb back up the list. London is still 14% cheaper than New York, which has an index of 100 for the survey.

 

US cities were the most expensive when it comes to utilities and domestic help, while Swiss cities Zurich and Geneva have the highest costs when it comes to personal care, household goods, recreation and entertainment.

 

Globalisation has been cited for the increased cost of living in the top ten with the author of the report, Roxana Slavcheva saying, “it is a testament to globalisation and the similarity of tastes and shopping patterns. Even in locations where shopping for groceries may be relatively cheaper, utilities or transportation prices drive up the overall cost of living.”

 

The survey is designed to help firms calculate the cost-of-living allowances and build compensation packages for expatriates and business travellers and is released twice a year.

 

Interestingly, while Asia has four cities in the top ten most expensive, it also has four in the top ten cheapest.

 

The 10 most expensive cities:

1 Singapore

1 Paris

1 Hong Kong

4 Zurich

5 Geneva

5 Osaka

7 Seoul

7 Copenhagen

7 New York

10 Tel Aviv

10 Los Angeles

 

The 10 cheapest cities:

1 Caracas

2 Damascus

3 Tashkent

4 Almaty

5 Bangalore

6 Karachi

6 Lagos

8 Buenos Aires

8 Chennai

10 New Delhi

< Back to blog

Connect with us

Recent Posts

Government Update – Lockdown measures review

Yesterday evening, the Prime Minister, Boris Johnson led the daily news briefing with an update on the lockdown rules. Mr Johnson confirmed that the five tests that needed to have been met during lockdown have now been met. The five tests included: 1. Making sure the NHS could cope. 2. A sustained fall in the …

Read more...

Non-essential retailers to reopen

Boris Johnson announced on Monday that all non-essential retailers will be allowed to reopen in England from the 15th June. Retailers will have to adhere to new guidelines to protect their workers and their customers, and it is ‘contingent on progress in the fight against coronavirus.’ This goes alongside outdoor markets and car showrooms which …

Read more...

Greatest FA Cup Finals ever!!!

  This weekend should have been the final of the Emirates FA Cup Final. However, with sport suspended until mid-June, we thought we would look back at some of the greatest FA Cup finals ever… The FA Cup is the ultimate knockout football competition. Originally beginning in 1871-72, the tournament is open to all clubs …

Read more...

Mac’s the way to do it! Burger giants to reopen 32 drive-throughs

The signs that Britain is continuing to take tentative step to life after lockdown increased today when it was revealed McDonald’s is to re-open 32 of its drive-through takeaways. Days after announcing it was to open 15 of its 1,270 branches for delivery orders, the fast-food giant has announced more than 30 restaurants, largely in …

Read more...

Destination home

You may not be able to enjoy days out with the kids right now, but there’s still plenty of fun that can be had at home! Baking Cooking and baking are great activities for children of all ages. Of course, depending on the age of the child, they will be able to undertake different cooking …

Read more...