The Economist Intelligence Unit (EIU) has issued its Worldwide Cost of Living study, which tracks the relative costs of 172 locations throughout the world, according to CNN. According to this year’s report, the average cost of living has risen by 8.1 percent across the board, owing in part to the repercussions of Russia’s war in Ukraine as well as the lingering impact of the COVID-19 epidemic. Check the news The Most Expensive Cities in the World to Live in 2022 on Switzerland based Lifestyle Magazine- Kenleaks Magazine.
In 172 locations, the EIU examines 400 pricing points for 200 items and services. In contrast to the ECA International list issued earlier this year, which focuses on ordinary spending, the ECA list considers both high and low-end products, including luxury goods. The EIU is also benchmarked against New York prices, so currencies that are stronger versus the dollar are likely to rank higher on the list.
This year, New York City joins Singapore at the top of the list, rising from sixth place last year to become the world’s least cheapest city to live in for the first time.
Last year’s “winner,” Tel Aviv, has dropped to third place, and Zurich has been named the most expensive city in Europe. See the whole top ten list below.
1. New York and Singapore (tie)
3. Tel Aviv, Israel
4. Hong Kong and Los Angeles (tie)
6. Zurich, Switzerland
7. Geneva, Switzerland
8. San Francisco, California
9. Paris, France
10. Copenhagen, Denmark
Check the news The Most Expensive Cities in the World to Live in 2022 on Switzerland based Lifestyle Magazine- Kenleaks Magazine.