Although living in a city offers many advantages, including work possibilities, delectable food, live theatre, and simple access to renowned institutions, it is not without cost. The cost of rent is frequently high, restaurants may impose exorbitant prices, and $20 cocktails are the norm in the world’s most cosmopolitan cities.
The living costs for city inhabitants have witnessed their most significant increase in 5 years, and if you have been feeling the squeeze in 2021, that’s because it may continue to climb in 2022, according to the studies.
Singapore
Singapore has always been praised for its spotless buildings and streets, but it seems that residing in what is probably the world’s most hygienic city has a cost. Southeast Asia’s most costly city is there.
New York
New York is referred to be the “land of opportunity,” attracting hordes of tourists from around the world and the US who are all vying for a place in the city. As a result, it comes as no surprise that living in the city is so expensive; everyone wants to get the big fish.
Tel Aviv
Tel Aviv obtained a score of 106 in terms of its cost of living, primarily due to the strength of the Israeli shekel compared to the US dollar. This year, both transportation and food costs experienced a notable rise.
Hong Kong
Hong Kong was ranked alongside the largest metropolises in the world despite being a Chinese ‘special administrative area’. With an average price of $2.50 per litre, Hong Kong was among the most expensive gas prices in the entire world in 2021.
Los Angeles
Although the expense of living in this large metropolis in Southern California is exorbitant, there is no better location to be for several aspiring performers and beach lovers. Los Angeles was ranked sixth.
Zurich
It’s no secret that Switzerland is a wealthy nation, which explains why two of its cities are among the top ten most expensive places to live in the world. In addition to drawing some of the most wealthy and affluent individuals in the world just because of the city’s upscale atmosphere, the city also has some of the highest incomes in the world; possibly this can be attributed to all the major banks that have their headquarters there.
Geneva
The best entry from Europe, Geneva, Switzerland, has long been regarded as the pinnacle of class and luxury. With the best restaurants, a vibrant social scene, and cutting-edge residences, it is recognized for supporting the most opulent of lives. You won’t have any doubts about why it’s among the most costly cities to live in after strolling around one of their immaculate streets and visiting a nearby grocery shop.
San Francisco
San Francisco, which is located on the west coast of the most populated state in the country, is ranked eighth on this list. San Francisco is one of three US cities featured, and its ranking can be partially attributed to the nation’s surging inflation, which is at its highest level in forty years. High inflation, however, does not have a monopolistic impact on the annual ranking of the most expensive cities in the world.
Paris
Paris is one of the most expensive cities, with a cost of living index of 104, and is also the location of the Eiffel Tower, the Louvre, and the glittering Champs-Élysées.
Copenhagen
Despite the high costs of food and housing, Copenhagen is full of people who prefer to ride bikes to cars, which you might expect to make the cost of gas and transportation a little bit more manageable.
FAQ
