I’m sure quite a lot of you have moved cities in the recent past, so what do you account for while moving to a new city. We are sure that “cost of living” invariably finds a mention among the reasons as goods and services come at a cost.
The coronavirus pandemic has got us all to do some thinking, advance the plan of living our dreams, start afresh, relocate. As you plan below is the list of expensive cities covered in our article that will be handy in your decision-making process.
There are a lot of perks like good job opportunities, great food, movies, and entertainment when we live in the city albeit it comes at a price. In the biggest and best cities on planet earth, one can see high rentals, expensive restaurants, and bars where a $20 cocktail is the norm.
If you are one among the several who are feeling the pinch in 2022, it is because of the huge spike in the cost of living in the last five years.
The latest list of the world’s most expensive cities was compiled by The Economist Intelligence Unit (EIU) by comparing US dollars for goods and services in 173 cities. Shekel, Isreal currency has been soaring that helped Tel Aviv shoot up from fifth place last year to number one slot this year.
World’s 10 Most Expensive Cities to live in; Tel Aviv tops the list
Tel Aviv is Israel’s Tech hub. It has Beaches, museums, vibrant nightlife, skyscrapers diverse culture, and food to die for. A small apartment in the city will cost you up to $1200 per month, eating lunch will cost you $15 dollars, and can beer costs around $3. No wonder Tel Aviv is the priciest city in the world.
“Although most economies across the world are now recovering as Covid-19 vaccines are rolled out, many major cities are still seeing spikes in cases, leading to social restrictions. These have disrupted the supply of goods, leading to shortages and higher prices”, said, Upasana Dutt, head of worldwide cost of living at EIU.
Come see the streets of Jaffa all lit up🌟✨
Stay tuned for different holiday highlights throughout December and January.
Enjoy fun for all ages, local artisan booths, live performances, special holiday foods and much more! More info – https://t.co/q26v5Ff5mw #VisitTelAviv pic.twitter.com/wxhgYghcAt
— Tel Aviv (@TelAviv) November 28, 2021
The Bi-annual survey about The Worldwide Cost of Living is conducted by EIU wherein they compare more than 400 individual prices ranging from around 200 goods and services in 173 cities.
Here is the complete list of the World’s top 10 most expensive cities as of 2022.
1. Tel Aviv, Israel
Tel Aviv, the capital of Israel is the world’s costliest city to live in. Compared to last year Tel Aviv has jumped 4 places this year due to the phenomenal strength of the national currency, the shekel, and the rise in prices for transport and groceries. Tel Aviv is the economic and technological center of the country having a population of over 460,000.
2. Paris (joint second), France
Paris, the capital of France has lost its number one rank last year and slipped to second place in the list of the world’s most expensive cities. Paris is France’s most populous city with an estimated population size of $2.1 million. Paris is known for its museums as well as architectural landmarks.
2. Singapore (joint second)
Singapore is ranked at joint second in the list this year along with Paris. The home-ownership rate in this city is around 91% and it ranks high in various important key social indicators like education, healthcare, quality of life, and personal safety.
4. Zurich, Switzerland
Zurich takes the fourth spot in the list of the most expensive cities in the world. It is the financial capital of Switzerland that is home to international organizations like the WTO, the WHO, the ILO, the headquarters of FIFA, the UN’s second-largest office, and the Bank for International Settlements.
5. Hong Kong
Hong Kong is a special administrative region of China that consistently appears every year on the list of the world’s most expensive cities to live in. It is one of the most densely populated places on planet earth. This year it featured in fifth place as prices of clothing and personal care decreased.
6. New York, United States of America
New York, which is America’s most expensive city takes the sixth spot in the list of the world’s most expensive cities to live in. New York City serves as a barometer for the cost of living index. New York often used as NYC for short is America’s most populous city with a population of 8.8 million.
New York plays an important role when it comes to international diplomacy that’s why it is often called as capital of the world.
7. Geneva, Switzerland
Geneva city is the second-most populous city in Switzerland after Zürich that ranks at seventh place in our list of the world’s most expensive cities. Geneva was ranked first in the world in 2018 by Global wealth management firm UBS in terms of gross earnings and fourth in terms of purchasing power.
8. Copenhagen, Denmark
Copenhagen is the capital of Denmark and it is one of the most populous Danish cities in Europe. The city has a population of around 800,000. Copenhagen is considered to be one of the most bicycle-friendly cities across the world.
9. Los Angeles, United States of America
Los Angeles is America’s second-largest city that is famous for its cultural and ethnic diversity. It is the world’s ninth most expensive city with a population of 3.9 million. LA port is America’s busiest container port.
10. Osaka, Japan
Osaka is a large port city that is also a commercial center on the Japanese island of Honshu. It is the only city from Japan to feature in the list of the world’s most expensive cities. Osaka has a population of 2.7 million as of 2020 that is considered to be one of the most multicultural and cosmopolitan cities in Japan. The city is famous for its captivating architecture, nightlife along with its lip-smacking street food.
On the other hand, Damascus city, the capital of Syria is ranked as the world’s cheapest city to live in that is followed by Tripoli in Libya and Tashkent, the capital of Uzbekistan.
Well, if at all you belong to any of these most expensive cities, do share your thoughts by taking to our comments section!