The most expensive city in the world is now Hong Kong. It is followed by Zurich in Switzerland and Paris in France. This information has come up in a new report prepared by The Economist Intelligence Unit on the cost of living. This information was given in a report of BBC online.
The previous year, Hong Kong topped the list of most expensive cities. At the top of the list, along with Hong Kong, were two other Asian cities, Singapore and Osaka in Japan. However, this year Singapore has dropped to fourth place in the list. In fifth place is Tel Aviv, Israel, jointly with Osaka.
The Economist Intelligence Unit's survey found that the Corona epidemic has reduced the number of foreign workers, leading to a sharp drop in demand in Singapore. As a result, the price of the product has come down. The same situation is in Osaka. On the other hand, although Zurich and Paris were joint fifth in the list last year, they have come to the forefront this year due to the rise in the value of Euro and Swiss franc against the US dollar in the coronavirus epidemic. In addition, many Chinese cities have risen to the top of the list due to rising US-China tensions.
EIU chief Upasana Dutt said Asian cities have traditionally dominated the list in previous years. However, the epidemic has changed this list. Bangkok is 20 steps behind, now ranked 47th on the list of most expensive cities. Cities in the United States, Africa and Eastern Europe have become less expensive than last year. Western European cities, on the other hand, have become more expensive. New York, Copenhagen and Los Angeles, three cities in the United States, are one step lower than last time. New York is in seventh place jointly with Geneva this year. Copenhagen and Los Angeles in ninth place.
Among the cities in the UK, the cost of living has risen in London, Manchester. London is three steps ahead of the 20th. And Manchester has risen from 51st last year to 46th this year. The most expensive cities in Australia are Sydney (15th), followed by Melbourne (16th), Brisbane (36th) and Adelaide (48th).
At the top of the list is the Iranian city of Tehran. They have moved up 28 steps in Eklaf as costs have risen due to various US sanctions.
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