New York and Singapore topped the Economist Intelligence Unit (EIU) list of the most expensive cities in the world. The ranking of the cheapest cities in the world was also published.
The list of the most expensive cities in the world in 2022 was compiled by the Economist Intelligence Unit (EIU). The study covered 172 cities. It turns out that over the year, prices in the largest cities of the world, calculated in local currencies, increased by an average of 8.1 percent. This is the largest increase in two decades. It illustrates, as the authors of the list emphasize, a global crisis in the cost of living caused, among other things, by the war in Ukraine.
The most expensive cities in the world. Last year’s leader falls
For the first time, New York topped the ranking of the most expensive cities in the world, but it occupies this position ex aequo along with Singapore, which has been at the top of the ranking eight times over the past decade. Last year’s winner, Tel Aviv, closes the podium. The victory of Israel’s second-largest city in 2021 was “thanks” to supply chain problems and draconian pandemic restrictions that curtailed manufacturing and trade and sent the cost of living skyrocketing.
Fourth place in the ranking was shared by Los Angeles and Hong Kong. The top ten also included: Zurich, Geneva, San Francisco, Paris, as well as Copenhagen and Sydney (the last two cities shared tenth place).
The cheapest cities in the world
True, Moscow and St. Petersburg did not make it into the top ten most expensive cities in the world, but they rose in the ranking by as much as 88 and 70 positions, respectively. Such a significant increase was also affected by sanctions. imposed by the West on Russia after the country’s attack on Ukraine One of the consequences of the sanctions is the rise in prices.
In the ranking of the cheapest cities in the world, Damascus leads, ahead of Tripoli and Tehran. The top ten also included: Tunisia, Tashkent or Almaty.
Source: Wprost
