New York has been named the most expensive city in the world for the first time. The corresponding rating is compiled twice a year by the Economist Intelligence Unit (EIU), the analytical division of the British magazine The Economist.
New York shares the first line of the list with Singapore, which has repeatedly led this rating earlier.
Also in the TOP 10 most expensive cities in the world were Tel Aviv, Hong Kong, Los Angeles, Zurich, Geneva, San Francisco, Paris, Copenhagen, and Sydney.
At the same time, the EIU notes a strong increase in the cost of living in all cities of the rating – over the year, on average, prices increased by 8.1% in local currencies, this is a record for the last 20 years.
At the same time, a record growth was recorded in Caracas (Venezuela), where prices jumped by 132%. The compilers of the ranking had to exclude Caracas from the study to avoid distortions.
Damascus, Tripoli, and Tehran became outsiders of the rating.