10 most expensive cities in the world
According to a survey by "The Economist" magazine the cost of living has gone up around the world, not least because of the COVID-19 pandemic. This year, Tel Aviv has surpassed Paris as the most expensive city.
1. Tel Aviv
The coastal Israeli city of Tel Aviv has ranked highest in a poll by "The Economist" of the world's most expensive cities. The 2021 study, which compared the cost of living in 173 cities, found that supply-chain problems had led to a rapid increase in prices. Measures introduced to contain the COVID-19 pandemic continued to affect production and trade.
Last year, Paris topped the list. This year, it's "only" in second place. The French capital has long been one of the most expensive cities in the world, but this has never stopped tourists from coming in throngs. For many, Moulin Rouge in the Montmartre district is one of the highlights.
This year, the island city-state of Singapore is right up there with Paris. In addition to its affluence, the financial hub in Southeast Asia is also known for its draconian laws. For example, secretly using someone else's unsecured wireless network is strictly forbidden; anyone who does so can be fined the equivalent of €10,000 (ca. $11,300).
Even though living costs in Switzerland are generally very high, they are particularly prohibitive in Zurich. Rents have skyrocketed in recent years, partly as a result of immigration, and there are very few vacant apartments. According to official statistics, the average rent is the equivalent of €400 ($450) per square meter.
5. Hong Kong
The former British colony of Hong Kong, now one of China's special administrative zones, is also high on the list because of its astronomical rents. The metropolis is one of the most densely populated areas of the world, and it's not uncommon to find tiny rooms in one of the many skyscrapers being rented out for €2,000 (about $2,260) per month.
6. New York City
New York is not only the most expensive city in the United States, but sixth in the world. It's rare to find New Yorkers who were actually born in the city. These days, even well-paid financial analysts struggle to find an affordable apartment in Manhattan. The most expensive sell for tens of millions of dollars.
There's a rumor that a normal club sandwich costs more in Geneva than anywhere else in the world. But what does that say about the overall cost of living in a country? Quite a bit. Many international organizations are headquartered in the Swiss city on Lake Geneva, which is also in the top 10. The average club sandwich here, by the way, costs almost 30 CHF (around €28/ $32).
Life in Denmark's capital is also far from cheap. Food, alcohol and consumer goods cost 40% more here than the EU average. But that doesn't stop people from wanting to live there, particularly young students. It's also well-located, if residents want to explore the rest of Scandinavia or the European mainland, which is accessible by ferry.
9. Los Angeles
The City of Angels. Hollywood. Where the stars live. Few places conjure up luxury and wealth like this megacity in the US state of California. This epicenter of the multi-billion entertainment sector is a magnet for aspiring actors and filmmakers as well as creative wannabes from around the world.
Osaka, with its millions of inhabitants, is one of Japan's two main financial hubs, alongside the capital, Tokyo. Visitors should plan a generous budget, especially for accommodation. Rent per square meter is considerably higher than in the rest of the country, which is far from cheap.