A new report, courtesy of the Economist Intelligence Unit (EIU), came out this week that details the cost of living around the world.
The report assessed the cost of living by looking at 400+ individual prices from at least 160 different products. They looked at everything from the cost of food and clothing, to drinks and household supplies, personal care items, and more.
They found that Singapore was the most expensive city to live in.
Unsurprisingly, New York made the top 10 list also. So did Tokyo and Osaka, along with Hong Kong. Sao Paulo and Rio de Janeiro also showed a notable improvement. Both cities climbed a number of places and ended up placing 78th and 86th overall.
Interestingly, Manchester and London both dropped quite a bit, and their lowered standing is attributed to the decreased value of the British pound following the controversial Brexit move.
Here are the top 10 most expensive cities to live:
- Singapore
- Hong Kong
- Zurich, Switzerland
- Tokyo, Japan
- Osaka, Japan
- Seoul, South Korea
- Geneva, Switzerland
- Paris, France
- New York, United States
- Copenhagen, Denmark
Top 10 CHEAPEST cities to live:
- Almaty, Kazakhstan
- Lagos, Nigeria
- Bangalore, India
- Karachi, Pakistan
- Algiers, Algeria
- Chennai, India
- Mumbai, India
- Kiev, Ukraine
- Bucharest, Romania
- New Delhi, India
According to the regional director for Asia at the EIU, they expect the rupee, yen, and euro to have a good year. And along with that they expect to see an increase in the cost of living for those respective cities.
They expect in 2017 that commodity prices are going to show a rebound; including oil. They say that along with higher commodity prices will be a correlated increase in basic goods that most people will be buying off the shelves. This, they suggest, might lead to further austerity measures and controversial economic controls.
And when it comes to the standard cost of living, let's also not forget to thank the many central banks around the world for their corrupt monetary schemes which make it that much harder for billions of people to pay for their daily necessities and try to get by in life.
Pics:
Pixabay
Sources:
http://www.eiu.com/public/topical_report.aspx?campaignid=WCOL2017
https://www.expatistan.com/cost-of-living/mumbai?currency=USD
https://www.expatistan.com/cost-of-living/singapore?currency=USD
https://techcrunch.com/2012/11/20/startup-genome-ranks-the-worlds-top-startup-ecosystems-silicon-valley-tel-aviv-l-a-lead-the-way/
https://blog.parsehub.com/cost-of-living-in-and-visiting-the-best-26-startup-cities/
http://www.telegraph.co.uk/travel/city-breaks/most-expensive-and-cheapest-cities-2017/
http://www.cnbc.com/2017/03/20/economist-intelligence-unit-worldwide-cost-of-living-2017.html