The most expensive cities in the world are Zurich and Singapore

Zurich and Singapore jointly ranked first in the British Economist’s list of the world’s most expensive cities. Geneva and New York share third place. Zurich has thus moved up five places since the last ranking. This emerges from data published on Thursday by the Economist Intelligence Unit (EIU), the analytical research unit of the “Economist” group.

Zurich’s place at the top is partly due to the strong Frank. But high prices for food and entertainment also played a role. Even in Singapore, food, alcohol and clothing can cost a small fortune. The “Economist” wrote that due to lack of space, car owners in the city-state need their own certificates, the cost of which alone recently amounted to 106,000 US dollars (about 96,000 euros).

The most expensive cities in the world: Vienna is also in the top 20

The EIU rankings include Zurich and Singapore (1st place), Geneva and New York (3rd place), Hong Kong (5th place), Los Angeles (6th place), Paris (7th place), Copenhagen and Tel Aviv. (1st place) followed. each) and San Francisco (ranked 10th). Nearly half of the 20 most expensive cities are in Western Europe, including Vienna.

According to EIU, the cheapest city is Damascus, the capital of Syria (ranked 173rd). It is ahead of it by Iran’s capital Tehran (ranked 172) and Libya’s capital Tripoli (ranked 171). Due to the weakening of the ruble as a result of the sanctions imposed due to the war in Ukraine, Russia’s Moscow (ranked 142nd) and St. Petersburg (ranked 147th) was among the cities that lost the most ground.

According to its information, EIU collects the prices of more than 400 products and services in 173 provinces twice a year and converts them into US dollars. The data for the current ranking was collected between mid-August and mid-September, before Israel’s war against Hamas. As the EIU writes, the outbreak of war has now affected exchange rates and therefore the price level in Israel.

(APA/Red.)

Source: Vienna

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