World's most expensive cities to live 2021

[iheartthed]

(CNN) — All over the world, it's been a tough year on wallets.
Supply-chain blockages and changing consumer demand have pushed up the cost of living in many of our biggest cities, according to new research published Wednesday, and inflation is the fastest recorded over the past five years.

One city has been experiencing more rapid change than most, jumping from fifth place to first in this year's Worldwide Cost of Living index released by the Economist Intelligence Unit (EIU).

The Israeli city of Tel Aviv topped the rankings for the first time, overtaking last year's leader Paris, which is now tied in second place with Singapore.
The EIU attributes Tel Aviv's sharp rise on the index to increases to grocery and transport prices and the strength of the Israeli shekel against the US dollar.

https://www.cnn.com/travel/article/w...021/index.html

Full list:
1. Tel Aviv, Israel
2. (tie) Paris, France
2. (tie) Singapore
4. Zurich, Switzerland
5. Hong Kong
6. New York City, New York
7. Geneva, Switzerland
8. Copenhagen, Denmark
9. Los Angeles, California
10. Osaka, Japan
11. Oslo, Norway
12. Seoul, South Korea
13. Tokyo, Japan
14. (tie) Vienna, Austria
14. (tie) Sydney, Australia
16. Melbourne, Australia
17. (tie) Helsinki, Finland
17. (tie) London, UK
19. (tie) Dublin, Ireland
19. (tie) Frankfurt, Germany
19. (tie) Shanghai, China

[sentinel]

Great list. Usual suspects, but I'm good, thanks (although Osaka and Paris would be fun...if I had the money )

[MAC123]

What's going on in Zurich Switzerland to make it so expensive? I don't have any context on the area but apparently it's more expensive than NYC and Hong Kong?

[MonkeyRonin]

Originally Posted by MAC123

What's going on in Zurich Switzerland to make it so expensive? I don't have any context on the area but apparently it's more expensive than NYC and Hong Kong?

Everywhere in Switzerland is expensive. Incomes are also very high though - so if you're Swiss at least it isn't so bad.

None of this seems to take local incomes into account though so it's kind of useless insofar as it being a list of the most expensive cities to live in. More accurate would be that these are the most expensive cities to visit.

[iheartthed]

Originally Posted by MAC123

What's going on in Zurich Switzerland to make it so expensive? I don't have any context on the area but apparently it's more expensive than NYC and Hong Kong?

The Swiss franc. The currency is normally expensive relative to the U.S. dollar, so Swiss cities always show up as expensive in these global rankings.

[10023]

The ordering of this makes no sense. There is zero chance that Paris is ahead of New York unless it’s city limits, and that’s only because Paris proper is like the size of Manhattan.

[10023]

Originally Posted by MAC123

What's going on in Zurich Switzerland to make it so expensive? I don't have any context on the area but apparently it's more expensive than NYC and Hong Kong?

Switzerland is expensive. Everyone is well paid but then you spend $27 at McDonald’s.

[sopas ej]

Wasn't it just a few years ago that Moscow was the world's most expensive city?

How times have changed. Now it's not even on this list.

[muppet]

Originally Posted by MAC123

What's going on in Zurich Switzerland to make it so expensive? I don't have any context on the area but apparently it's more expensive than NYC and Hong Kong?

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[jd3189]

Weird that San Francisco isn't on the list.

[iheartthed]

Originally Posted by 10023

The ordering of this makes no sense. There is zero chance that Paris is ahead of New York unless it’s city limits, and that’s only because Paris proper is like the size of Manhattan.

Maybe it's due to the exchange rate. It looks like the euro has been a little expensive versus the dollar over the past year compared to the previous five years or so.

[The North One]

Last I heard Vienna was a very affordable city. And considering it has pretty robust public housing I'd say this list is BS.

[homebucket]

Originally Posted by jd3189

Weird that San Francisco isn't on the list.

According to the article it used a cost of living index but doesn’t define the methodology. I’m guessing it’s taking median income into account somewhere. SF isn’t that expensive relative to median income.

[llamaorama]

I've always wanted to live in drop ceiling of a Swiss bus station, surviving on discarded chocolate bars and raclette laying in the street. I'll befriend a lovable homeless scamp whose father was a dictator in central america. In summer we'll sail an air mattress across Lac de Neuchatel and winter in Zermatt to take part in Apres-ski formals by pretending to know Gwenyth Paltrow.

[10023]

Originally Posted by iheartthed

Maybe it's due to the exchange rate. It looks like the euro has been a little expensive versus the dollar over the past year compared to the previous five years or so.

There is still no way that Paris is anywhere near as costly as New York. Everything from rent to a coffee is much cheaper.

[10023]

Originally Posted by The North One

Last I heard Vienna was a very affordable city. And considering it has pretty robust public housing I'd say this list is BS.

Lots of public housing makes market rate housing more expensive for everyone else, though. I’m not saying that’s necessarily the case in Vienna but it’s worth bearing in mind.

[Marshal]

Originally Posted by The North One

Last I heard Vienna was a very affordable city. And considering it has pretty robust public housing I'd say this list is BS.

Having lived and worked in Vienna I sort of agree. Vienna's public housing is a level beyond any other western city, but outside that, housing and rent are quite expensive. Vienna is expensive across the board, but only in the way Vancouver is expensive (forget housing costs here). Not a cheep place to live, but it is difficult to see it as the 14th most expensive town.

[biguc]

Originally Posted by iheartthed

Maybe it's due to the exchange rate. It looks like the euro has been a little expensive versus the dollar over the past year compared to the previous five years or so.

Yeah, it's the exchange rate.

It makes no sense because if you live in a country and earn their currency the exchange rate with USD usually doesn't matter. A stronger exchange rate could even make things more affordable.

But this is from the Economist Intelligence Unit. All of their rankings are intended for corporate Anglos working abroad, probably earning USD. It's basically negotiating information that lets these types know how much more they should earn. Go to a crappy city on their city quality ranking? Go to an expensive city on their affordability ranking? Demand more money.

These lists really shouldn't be consumed like they are. They look like absolute nonsense if you take them as any kind of absolutes at all. That's how you get results that are patently wrong for the majority of people who live in these places, like Paris being more expensive than NY.

Anecdotally speaking, I know someone who moved from DC to London and thinks London is incredibly cheap. Coming from continental Europe, I find every visit to London is an exercise in wiping my ass with all of my money.

[MolsonExport]

Originally Posted by llamaorama

I've always wanted to live in drop ceiling of a Swiss bus station, surviving on discarded chocolate bars and raclette laying in the street. I'll befriend a lovable homeless scamp whose father was a dictator in central america. In summer we'll sail an air mattress across Lac de Neuchatel and winter in Zermatt to take part in Apres-ski formals by pretending to know Gwenyth Paltrow.

[JHikka]

Originally Posted by biguc

These lists really shouldn't be consumed like they are. They look like absolute nonsense if you take them as any kind of absolutes at all. That's how you get results that are patently wrong for the majority of people who live in these places, like Paris being more expensive than NY.

Pretty much. Clickbait article ranking cities to get discussion and comments without much context. Rinse, wash, repeat.