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"Economist" ranking: These are the most expensive cities in the world

2021-12-01T04:36:16.814Z

In which city does life cost the most? The British “Economist” group investigates this question every year. This year Paris loses its top position. And Berlin is slipping down significantly.



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City panorama of Tel Aviv: According to EIU data, it is now the most expensive of the 173 cities examined

Photo: GIL COHEN-MAGEN / AFP

According to an analysis by the British "Economist" magazine, the Israeli coastal metropolis Tel Aviv is now the most expensive of the cities covered.

It replaces the French capital Paris, which now ranks second with Singapore.

This is followed by the data published on Wednesday by the Economist Intelligence Unit (EIU), according to the Swiss financial center Zurich, ahead of Hong Kong and New York.

Compared to the ranking a year ago, Berlin slipped eight places down to 50th place, making it the cheapest of the six German cities included in the index.

The most expensive is Frankfurt, which ranks 19th in an international comparison.

The Syrian capital Damascus takes last place in the study with the title “Worldwide Cost of Living (WCOL)”.

According to a statement from the magazine, several factors have contributed to the increase in the cost of living for many city dwellers.

Examples of this were supply chain problems and the corona measures that restricted production and trade.

There have also been strong increases in the cost of traffic;

The background to this is the sharp rise in the price of oil.

According to the index, German motorists have a hard time in Hamburg in particular: The Hanseatic city ranks fifth among the cities with the highest gasoline prices of all recorded cities worldwide.

Overall, the study records and compares the cost of living in 173 cities around the world.

The focus is on the prices for 200 goods and services.

The most livable cities

The EIU annually examines not only the most expensive but also the most livable cities worldwide.

The current data on this was published in June.

The New Zealand port city of Auckland secured the title of "most livable city in the world".

The success in containing the Covid-19 pandemic made a significant contribution to this, the EIU justified its selection at the time.

Vienna, Hamburg and other European metropolises performed significantly worse in the ranking than in previous years (you can find out more here).

aar / dpa

Source: spiegel

All business articles on 2021-12-01

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