These are the world’s most expensive cities to live in 2022

It appears like each month once menage bills come back due, we tend to grumble regarding how the price of living has gone up once more.

In alternative words — no, it’s not simply you.

“The war in the country, Western sanctions on Russia and China’s zero-Covid policies have caused supply-chain issues that, combined with rising interest rates and exchange-rate shifts, have resulted in a very cost-of-living crisis across the planet,” Upasana Dutt, head of worldwide value of living at EIU, aforementioned in a very media statement.

She added: “We will clearly see the impact during this year’s index, with the typical worth rise across the 172 cities in our survey being the strongest we’ve seen within the twenty years that we’ve got digital knowledge. the increase in gasoline costs in cities was notably sturdy (as it absolutely was last year), but food, utilities and menage product ar all obtaining costlier for city-dwellers.”

So, in an upscale year, what ar the foremost valuable cities to measure in?

Europe in transition

The EIU, which tracks everyday expenses in 172 cities round the world, relies in London. British people capital fell considerably down the list this year, landing in twenty seventh place.

There were four European cities within the prime ten — city (sixth place) was the very best, with Paris, national capital and fellow Swiss town Geneva misestimation out the remainder.

The most vital reason behind worth upticks in western Europe was increasing gas costs, the results of the continued Russian war in country and therefore the region attempting to seek out alternate sources of gas. the price of 1 l of petrol has gone up a large twenty second compared to the present amount last year.

Unsurprisingly, Russian cities capital of the Russian Federation and St. beleaguering each saw vital hikes in value of living expenses, whereas country capital Kyiv wasn’t analyzed this year.

In addition to gas prices, one issue cited by the EIU was the uneven price of the monetary unit, that is employed by some however not all of the eu cities on this year’s list — the united kingdom is on the pound, and Suisse has the monetary unit.

Three alternative cities in Europe — the capital of Sweden, urban center and Luxembourg — additionally declined on the list.

A first-ever winner

Although it appears like the big apple town ought to have topped the list by currently, this is often 1st|the primary} time the most important town within the US has landed in first place — albeit in a very tie with frequent winner Singapore.

Two alternatives Yankee metropolises additionally created the highest ten — la in a very tie for fourth place with port and point of entry in eighth.

In total, twenty-two of the 172 cities the EIU tracks annually ar within the US, together with Portland, Boston, Chicago and Charlotte. each single one in every of those twenty two skilled an increase in inflation this year.

Meanwhile, last year’s winner, Tel Aviv, fell to 3rd place.

How the list is created

In order to make the list, the EIU compares over four hundred individual costs across over two hundred merchandise and services in 172 cities. They survey a spread of companies, each high and low finish, to induce a way of what proportion costs have fluctuated over the past year.

Its list, printed in the Gregorian calendar month, awarded port the title of costliest town for the third year straight and the big apple in the second. However, the ECA’s list leans heavily toward huge cities in Asia, as Seoul, Shanghai, and alternative East Asian urban centers all landed within the prime ten.

The EIU list is benchmarked against costs in the big apple town, therefore cities with currencies that are stronger against the US dollar are seeming to look higher within the rankings.

The world’s 10 most expensive cities to live in 2022

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

(Like our Facebook page for the latest posts, as well as follow us on Google News and Twitter.)

Share This