Hong Kong, New York, London, Paris… which are the most expensive cities in the world and in Europe?

By Caroline J. Photos by My B. Posted Jun 9, 2022 9:23 AM

In your opinion, which cities have the highest cost of living? Where is Paris located this year? Discover the ranking of the most expensive cities in the world and in Europe, established by the firm ECA International.

After the health crisis, the war in ukraine in turn disrupts economic stability, with a sharp rise in inflation and significant repercussions on the cost of living.

On June 7, 2022, the cabinet ECA Internationalspecializing in international mobility, unveiled its ranking of the most expensive cities in the world and in Europe. Usually, Paris is at the top of the rankings. But this year, the French capital has lost points and does not even rank in the top 20 of cities with the highest cost of living in the world.

So, which city is the most expensive in the world this year? It is in Asia, and more precisely in Hong Kong that the cost of living is the highest there. As the firm indicates ECA International, there, you have to pay 3.88 pounds sterling (or 4.53 euros, at the exchange rate of June 8) for a coffee. It is also in Hong Kong that gasoline is the most expensive (2.26 pounds sterling, or 2.64 euros per litre).

In second place in this ranking, we find New York. The big American city gains two places in one year. Finally, Geneva in Switzerland brings up the rear and happens to be the third most expensive city in the world, and therefore the first in Europe.

London in the United Kingdom is the 4th most expensive city on the planet, followed by Tokyo in Japan, from Tel-Aviv and Israel, the Zurichof Shanghaiof Guangzhou and of Seoul. For the rest, we note that several other Asian cities appear in this ranking of the most expensive cities, like Shenzhen (12e), Singapore (13e), beijing (14e), Yokohama (17th) and Taipei (20e). « Fuel is one of the biggest contributors to the rising cost of living around the world, with demand for fuel outpacing supply “, explains ECA International in its study. See the full ranking here.

Paris: 11th most expensive city in Europe

But where is Paris ? Disappeared from the top 20 cities where the cost of living is the most expensive in the world, the French capital has lost two places in one year and is now in the 11th place among the most expensive cities… in Europe !

In the first position of this ranking where the cost of living is the most expensive on the Old Continent, we therefore find Geneva in Switzerland, followed by London in the UK, from Zurich et Berne in Switzerland and finally Copenhagen in Denmark. Other northern cities are well placed, since Oslo et Stavanger are respectively 6th and 7th in this ranking. Reykjavik in Iceland climbs 9 places and is now 8th. Finally, Stockholm (9th) in Sweden and Luxembourg City close the march of this top 10.

Top 10 most expensive cities in the world
1/ Hong Kong – Hong Kong
2/ New York – United States
3/ Geneva – Switzerland
4/ London – United Kingdom
5 / Tokyo –Japon
6/ Tel Aviv – Israel
7/ Zurich – Switzerland
8/ Shanghai – Chine
9/ Guangzhou – Chine
10/ Seoul – South Korea

Top 10 most expensive cities in Europe
1/ Geneva – Switzerland
2/ London – United Kingdom
3/ Zurich – Switzerland
4/ Bern – Suisse
5/ Copenhague – Danemark
6 / Oslo – Norway
7 / Stavanger- Norway
8 / Reykjavik – Iceland
9/ Stockholm – Sweden
10 / Luxembourg City – Luxembourg

To make these classifications, ECA International took several factors into consideration, such as the average price of commodities, rents, gasoline, and the cost of utilities.

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