(CNN) – It is a dream come true for many – moving to the big city and making life better.
But as we all know, living in a city is expensive – especially if you choose Hong Kong, Paris or Zurich, which are the most expensive cities in the world, according to research.
The change was particularly noticeable during this period, with double reports assessing the impact of the Covid-19 outbreak on global prices.
Currency fluctuations due to the epidemic – including the weakening of the US dollar – mean that destinations in Africa, the Americas and Eastern Europe have become more expensive since March, while Western Europe, where the euro has appreciated against the dollar, has seen gains. Swiss inflation has also risen in value.
The most expensive city in the world
Singapore dropped from No. 1 to No. 4
Singapore Tourism Board Courtesy
Singapore and Osaka are currently ranked fourth and fifth, respectively, with Tel Aviv next to Osaka at number 5. Migrant workers during the epidemic lagged behind Singapore’s decline – which saw its population decline for the first time in 17 years – according to the EIU.
The top 10 was completed by Geneva, New York City, Copenhagen and Los Angeles.
Sydney at No. 15, London at 20, and Nairobi at 77.
Moscow is at 106, and Delhi is at 121.
The biggest increase was Tehran, which climbed from 106th to 79th, due to US sanctions affecting the country. Reykjavik, Rio de Janeiro and Sao Paulo show the biggest price drop. The EIU ranks cities of Brazil in “weak currencies and rising poverty levels.” Of course, Brazil experienced great difficulties during the outbreak.
Damascus in Syria has the lowest cost of living, followed by Tashkent in Uzbekistan, Lusaka in Zambia, Caracas (Venezuela) and Almaty, Kazakhstan.
The top 10 is ranked by Karachi (Pakistan), Buenos Aires (Argentina), Algeria (Algeria) and Bangalore and Senni, India. The Argentine government has introduced price controls during the outbreak, which could explain the situation in Buenos Aires.
Cheaper electronics and cheaper clothes
Buenos Aires is near the bottom of the list
Photo JUAN MABROMATA / AFP / AFP / AFP / Getty
It is not just a city that has changed. The survey found that prices for electronics – have risen worldwide. Clothing, meanwhile, clothing is declining – both hypothetically due to the increase in people working from home. Most staple foods are priced the same, while personal care products, tobacco and alcohol are all on the rise.
“The Covid-19 epidemic has weakened the US dollar as Western European and regional currencies strengthened against it, pushing up prices of goods and services,” said Upasana Dutt, EIU head of global living costs.
“The epidemic has changed consumer behavior, as blockades and trends such as working from home have pushed up the price of appliances and home-grown food, which has given dining-restaurants a place for middle-class families.”
In the future, things are not beautiful. The EIU predicts that the trend will continue, with people focusing more on food and home entertainment than on clothing in 2021.
The most expensive city in the world to live by 2020
1. (tie) Paris, France
1. (bundle) Hong Kong
1 (tie) Zurich, Switzerland
5. (tie) Osaka, Japan
5. (tie) Tel Aviv, s
7. Geneva, Switzerland
8. New York City
9. Copenhagen, Denmark
10. Los Angeles