In 2022, New York was still the most expensive city in the world. This year, the “Big Apple” was replaced by Zurich and Singapore in the rankings of the British business magazine “Economist”. Russian cities became cheaper.
The most expensive cities in the world are Zurich and Singapore. The Swiss financial metropolis landed in first place in the current ranking of the British business magazine “Economist”, mainly because of its high inflation.
For the same reason, the three other European cities in the top ten – Geneva, Paris and Copenhagen – were also classified as particularly expensive in the ranking. This year’s list of the most expensive cities also included Hong Kong in fifth place and Tel Aviv in eighth place – together with Copenhagen.
A total of 173 cities evaluated
The “Economist” took a close look at 173 cities for the evaluation. The magazine takes into account the prices of 200 products and services in its list. In Europe, for example, the prices of food and clothing rose sharply, in addition to the poor exchange rate of the euro against the dollar. Zurich and Singapore were tied, so the two cities share first place, so there is no second place.
| rank | City |
|---|---|
1 | Zurich |
1 | Singapore |
3 | Geneva |
3 | new York |
5 | Hong Kong |
6 | Los Angeles |
7 | Paris |
8th | Tel Aviv |
8th | Copenhagen |
10 | San Francisco |
New York replaced as the most expensive city
In 2022, New York was the most expensive city in the world – along with Singapore. Like other US cities, New York slipped down to third place along with Geneva. Los Angeles came in sixth and San Francisco in tenth.
The cheapest city on the list is Damascus, just ahead of Tehran. The biggest downgrade occurred for Russian cities due to the weak ruble – Moscow landed in 142nd place, St. Petersburg in 147th place.