The international mobility company ECA International has just published its ranking of the cities where the cost of living is the most expensive. The Asian continent is one of the most expensive according to the study. Paris isn’t even in the top 30 anymore.
What are the most expensive cities in the world? This is the question that employees of ECA International tried to answer. A ranking of the ten cities where the cost of living is the highest, relayed by our colleagues from CNN.
One ranking, ten cities
To calculate its ranking, ECA International was based on a multitude of factors such as the average price of basic products, rents, the cost of public services or that of public transport. On the podium, we find the independent territory of Hong Kong. In second place the city of New York in the United States followed by Geneva in Switzerland. In fourth position, still in Europe, London (United Kingdom). And finally Tokyo in Japan in fifth place.
The last in the ranking in order: Tel Aviv (Israel) 6th, Zurich (Switzerland) 7th, Shanghai (China), 8th, Guangzhou (China) 9th and finally Seoul in South Korea (10th).
Here is the complete ranking of the most expensive cities in the world:
- hong kong
- New York
- Geneva
- London
- Tokyo
- Tel Aviv
- Zürich
- Shanghai
- Guangzhou
- Seoul
Europe a cheap continent
Asia therefore appears in the ranking as one of the continents with the most expensive cities. Hong Kong, Tokyo, Shanghai, Guangzhou and Seoul are in the top 10. “The majority of mainland Chinese cities in our rankings have higher inflation rates than we are used to seeing, but they are still generally lower than elsewhere in Asia”, explains Lee Quane an executive of ECA International in a press release relayed by CNN.
On the other hand, we note an overall regression of the European continent in the ranking, apart from Switzerland. Paris is no longer in the ranking of the top 30 most expensive cities. According to the company behind the study, it is the current economic situation of the continent that could explain its decline in the top. “The euro has performed less well over the past 12 months than the US dollar and the pound sterling,” it says. Similarly with the war in Ukraine and its share of sanctions, Russia and its main cities have experienced a very sharp decline in economic activity.
The ECA International ranking is not the only existing one. Other tops give noticeably different results.
