Hong Kong, Paris and Zurich are the world’s most expensive cities, a new survey has found.
Researchers looked at the prices of 138 products and services – including food, drink, clothing and household supplies in around 130 cities worldwide – to draw up the ranking of the most and least costly metropolises.
Damascus, the capital of war-torn Syria, is rated as the cheapest city in the world, with prices slightly higher in Tashkent – the capital of Uzbekistan.
Hong Kong, pictured, is the joint most expensive city, according to new research
The ranking has been put together by The Economist Intelligence Unit (EIU) as part of its 2020 Worldwide Cost of Living Survey. It has conducted the survey for a second time this year to take into account Covid-19’s impact on global prices and incomes.
The EIU says that Paris and Zurich have both moved up the ranking to the top spot from joint fifth due to the rise of the Euro and Swiss Franc against the US dollar, as well as the ‘comparative decline in the cost of living in the two Asian cities that previously sat at the top of the table’.
Those two cities are Singapore and Osaka, which drop to fourth and joint fifth, respectively, with Osaka tying with Israeli city Tel Aviv.
According to the EIU, prices in Singapore fell as the pandemic led to an exodus of foreign workers.
Paris comes joint top of the most-expensive-city ranking, drawn up by the Economist Intelligence Unit