Anyone who has ever bought cheese or shampoo in a New York supermarket will particularly appreciate the prices in your home countries’ supermarkets (unless you live in one of the following cities). The price level at airports already illustrates the simple principle: When space is limited and demand is high, consumers have to dig deep into their pockets. The ranking of the most expensive cities in the world is, therefore, a bit of a competition for the question of which metropolises are currently particularly popular. Here is a list of the most expensive cities in the world.
Geneva was the fifth most expensive city in the world in the 2019 ranking of the Economist Intelligence Unit. In 2020 it was only enough for tenth place. Geneva scored 95 in the cost of living index (New York City = 100). The descent was symptomatic for almost all of Europe. Copenhagen fell four places and thus said goodbye to the top 10. Düsseldorf lost eleven places (in 43rd place). That was the fourth largest descent on the list. Reykjavik even fell from 15th to 29th place.
Renting an apartment, getting a haircut, going to a restaurant: Paris is definitely one of the most expensive cities in the world. Paris has been in the top ten for a long time, but has recently seen a rapid rise. Last year the city took second place, two years ago it was still seventh. Living in Paris is now “extremely expensive”, explained the EIU, which belongs to the group around the business magazine “Economist”. A woman’s haircut there costs an average of $ 120 (a good 100 euros), men have to pay around $ 2,000 for a suit. Alcohol, the metro and tobacco products, on the other hand, are comparatively affordable in Paris.
Tel Aviv represents the Middle East in the ranking of the most expensive cities in the world. The Israeli metropolis was only 97 in the index instead of 99 as in the previous year. That was enough for seventh place this year. According to the analysts, price drivers in Tel Aviv were, among other things, higher spending on mobility.
New York is literally the measure of all things in the Economist Intelligence Unit ranking. A small bottle of beer in New York cost an average of $ 3.50, according to the analysis. That was the highest price in the top 10, followed by Tel Aviv with the equivalent of $ 3.27. The price comparison for a two-piece business suit was even more extreme. For that, an average of around $ 3,100 was due in New York, as the Economist analysts have calculated. That was almost three times as much as ten years ago. None of the top 10 cities passed the $ 2,000 mark on this item. In Geneva, a suit was even available for the equivalent of around $ 500.
In 2020, as in the previous year, three cities will share the title of the most expensive metropolis in the world. New is Osaka, which has taken the place of Paris. The Japanese economic center thus crowned its sprint to the top. In 2019, Osaka jumped six places to fifth. Now it went up another four places. As in the case of Tokyo, one reason for the high cost of living in Osaka was the strong yen.