Singapore once again named the most expensive city in the world
For the fifth year in a row, Singapore has been the leader in the ranking of the most expensive cities in the world according to the analytical division of The Economist – The Economist Intelligence Unit …
On the second line were Zurich and Paris.
The top ten also included Seoul, Hong Kong, Geneva, Copenhagen, Tel Aviv, Sydney and Oslo. Tokyo, which in 2013 was the leader of the list, was in 11th place (last year, the capital of Japan was in 4th position).
Due to the weakening of the dollar to all major currencies of leading countries last year, American cities did not get into the top 10 in terms of price level, despite the fact that tourists spend more and more money there.New York dropped from 9th to 13th place, Los Angeles – from 11th to 14th.
St. Petersburg and Moscow entered the top in another indicator – the rate of increase in prices, taking 3rd and 8th positions, respectively. In the ranking of the most expensive cities, Moscow is in 86th place, St. Petersburg is in 98th (the northern capital also occupied the same line last year).
At the last, 133th position of the list is the Indian city of Bangalore. The experts called Karachi, Damascus, Alma-Ata, Algeria, Lagos, Bucharest, Caracas, New Delhi and Chennai the cheapest cities in the world.
The rating of the cost of living is compiled for 133 cities around the world twice a year. The starting point for the calculation is considered the subsistence level in New York. Experts estimate the value of more than 400 items of goods and services in 160 categories.
In Singapore, consumer goods were much cheaper than in other cities with a high rating, but the huge cost of owning a car brought it to the first place.
Among the list of cities, Mexico City is the leader in terms of the increase in the cost of living, in many respects the weakening of the local currency against the background of negotiations on the revision of the North American Free Trade Agreement. Following, in second place, on this list is the capital of Chile – Santiago, in fourth place was Kiev.