New York and Singapore are the world’s most expensive cities. This is according to the annual Economist Intelligence Unit (EIU) survey.
It is the first time that New York tops the list. Last year’s number one – Tel Aviv is in third place this year and Copenhagen is in tenth place among the world’s most expensive cities.
Stockholm is one of the cities that in this year’s survey fell the most on the list of the world’s most expensive cities and is ranked 99 out of 172. The three cheapest cities to live in in the world are Damascus, Tripoli and Tehran.
War and covid
According to the EIU, average prices in the world’s largest cities have increased by 8.1 percent in local currency over the past year. The war in Ukraine and covid-19’s impact on supply chains are thought to be behind the increase.
In the survey, the Economist Intelligence Unit EIU compared more than 400 individual prices of over 200 products and services from 172 cities around the world.