The most expensive cities and countries in the world mapped
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Cost of living is the cost of maintaining a particular standard of living. Calculations of the cost of living are also applied to compare the cost of keeping a certain standard of living in various geographic divisions.
There are several ways to calculate the cost of living:
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The Mercer Cost of Living Survey
The Mercer Cost of Living Survey estimates the comparative cost of more than 200 items like housing, food, transportation, etc. for nearly 500 global assignment destinations for expatriate workers.
Cities in Asia take eight of the top ten spots in Mercer’s annual ranking. At the other end of the spectrum are cities in developing or politically unstable countries.
According to the last Mercer Cost of Living Survey, Ashgabat in Turkmenistan is the most expensive city, followed by Hong Kong, Beirut, and Tokyo.
The 20 World’s Most Expensive Cities in 2021
- Ashgabat (Turkmenistan)
- Hong Kong
- Beirut (Lebanon)
- Tokyo (Japan)
- Zurich (Switzerland)
- Shanghai (China)
- Singapore (Singapore)
- Geneva (Switzerland)
- Beijing (China)
- Bern (Switzerland)
- Seoul (South Korea)
- Shenzhen (China)
- Ndjamena (Chad)
- New York City (United States)
- Tel Aviv (Israel)
- Copenhagen (Denmark)
- Guangzhou (China)
- London (United Kingdom)
- Lagos (Nigeria)
- Libreville (Gabon)
The least expensive cities in the world are 205. Brazil (Brazilia); 206. Tunis (Tunisia); 207. Tbilisi (Georgia); 208. Lusaka (Zambia); 209. Bishkek (Kyrgyzstan).
The Economist Intelligence Unit’s Cost of Living
The Economist Intelligence Unit’s Worldwide Cost of Living is a twice-yearly survey conducted by The Economist Intelligence Unit that examines more than four hundred individual prices across 138 goods and services in nearly 130 cities. To aggregate price data, researchers study a variety of shops and service producers from discount to luxury to ascertain the scale of prices being charged. Then economists convert the 50 thousand reported prices into a primary currency ($US) using the current exchange rate and weighting to achieve comparative indices. All cities are compared with a base city, New York City, with an index score of 100.
According to the 2020 Worldwide Cost of Living Survey, Hong Kong, Paris, and Zurich are the most expensive cities globally.
Top 10 the most expensive cities in the world, 2020
- Singapore (Singapore)
- Paris (France)
- Hong Kong
- Zurich (Switzerland)
- Geneva (Switzerland)
- Osaka (Japan)
- Seoul (South Korea)
- Copenhagen (Denmark)
- New York (United States)
- Tel Aviv (Israel)
- Los Angeles (United States)
The cheapest cities in the world, according to the Economist Intelligence Unit, are 129. Bangalore (India); 130. Almaty (Kazakhstan); 131. Tashkent (Uzbekistan); 132. Damascus (Syria); 133. Caracas (Venezuela).
Numbeo’s Cost of Living Survey
Numbeo’s Cost of Living Index factors in the best estimates of average expenses for a four-person family, varying from clothing, produce, recreational movements, services, and transportation. The Rent Index reflects estimates for renting 1- and 3-bedroom apartments in different parts of the cities.
While residing in Switzerland is approximately 12% cheaper than in New York City according to Numbeo’s Cost of Living Index, this European country still led the top of the most expensive nations to live in the world in 2020.
With Iceland, Norway, Luxembourg, and Ireland, five of the eight highest-ranking nations are located in Europe. However, there are stiff differences in the two separate indices compounding Numbeo’s Cost of Living Plus Rent Index.
Top 10 the most expensive countries Numbeo’s Cost of Living Index, 2020
- Switzerland
- Norway
- Iceland
- Japan
- Denmark
- the Bahamas
- Luxembourg
- Israel
- Singapore
- South Korea
The less expensive countries are 128. Uzbekistan; 129. Syria; 130. India; 131. Afghanistan; 132. Pakistan.
Top 10 the most expensive countries Numbeo’s Cost of Living Plus Rent index, 2020
- Switzerland
- Hong Kong
- Iceland
- Singapore
- Norway
- Luxembourg
- Ireland
- the Bahamas
- Denmark
- Israel
The less expensive countries, according to Numbeo’s Cost of Living Plus Rent index, are 128. Tunisia; 129. Syria; 130. India; 131. Afghanistan; 132. Pakistan.
