New York and Singapore share the top spot in the top ten most expensive cities in the world. Last year, Israel’s Tel Aviv topped the list. That city came in third place this year. Hong Kong and Los Angeles share fourth place in the top ten.
The top ten also includes Zurich, Geneva, San Francisco, Paris and Copenhagen and Sydney, which are divided at the bottom. This is demonstrated by the annual survey conducted by the Economist Intelligence Unit (EIU), the research arm of the British publishing house The Economist Group.
In the world’s 172 largest cities, the cost of living has risen by an average of 8.1% over the past year, the EIU says in the report. The researchers indicate that the high dollar exchange rate is reflected in the list, for which the cost of living in all cities has been converted into dollars.
The biggest gainers this year are the Russian cities of Moscow and St. Petersburg. Prices there have risen due to the sanctions imposed on Russia by the West. Moscow has moved up 88 places in the standings since last year, St. Petersburg 70.
