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Friday, January 15, 2021

Stats Gate

World’s Top 10 Most Expensive Cities to Live in 2021

Zurich city in Switzerland

Zurich, Paris, and Hong Kong are the top 3 most expensive cities to live in in 2021 according to new research. For example, a family with four members needs more than 5.000 euros per month to cover all the expenses In Zurich. The cost of renting a house is not included.

People leaving in Zurich must also pay quite a large amount of money for transportation and food. Restaurants and cafes are quite expensive and fast food isn’t cheap either. Undoubtedly, the city offers a very good quality of living and for this reason, is very attractive among expats.

Paris is also a very attractive city for newcomers. At the same time is densely populated. These two reasons push at high levels of rent prices. Grocery store prices may vary from one neighborhood to the next, but in general, the products are quite expensive. When it comes to dining out you will find that the prices are reasonable. Transport is not as expensive as you would imagine. With an unlimited monthly pass for 75 euros, you can take all kinds of transportation as many times as you want as far as you would like.

It is not an accidental fact that the report puts Hong Kong’s cost of living as one of the highest in the world. Housing in Hong Kong is really expensive while the cost of public transport is affordable. On the other hand, owning and maintaining a car can cost you a lot of money.

Hong Kong

Singapore and Israel complete the top 5 most expensive cities to live in 2021. For a family of four, the average monthly expenses included the cost for rent is more than 3.000 U.S. dollars. Expect rent to be cheaper if you live in the outskirts of the city. In particular, the north of the country has many districts that are considered affordable. The purchase of a car is really expensive in Singapore while public transport is cheap to use. If you like dining out but at the same time you want to save money then a safe choice is eating at small local businesses.

Tel Aviv is the most expensive place for expats living in the Middle East.  Urban city centers may be more expensive than rural. Grocery store prices and local transportation tickets are affordable.

Osaka takes number six of the list and Geneva follows at number seven of the list. New York City, Copenhagen, and Los Angeles hold 8th, 9th, and 10th place on the list respectively.

Rents are the most expensive part of everyday life in Osaka. Restaurants are actually considered very cheap and the food is really good. Also, you can find cheap Japanese vegetables. Lastly, public transportation is cheap and well organized.

Hotel President Wilson Geneva Switzerland

A family of four needs an income of at least CHF 7000 per month to maintain a modest lifestyle in Geneva. One option for paying less for accommodation is to live outside the center of Geneva. Generally, the rents are high. Renting an apartment in Geneva can cost twice as much as in Amsterdam or Brussels.

New York City’s high cost of living is due to its booming economy and large job market across a variety of industries. The median rent for a two-bedroom apartment in New York City is 3,500 dollars. According to statistics, a single person in New York City can expect to spend an annual total of 51,323 dollars on necessities. This amount of money is more than what the median US worker earns in one year.

The living cost for a person in Copenhagen can be estimated at about 1200 euros per month. And that’s only for the bare necessities without the cost of the rent.

The major factor that makes living in Los Angeles so expensive is the high housing rental cost. If you want to have a meal in a fancy restaurant you may pay a large amount of money but there are many inexpensive food options.

World’s Top 10 Most Expensive Cities to Live in 2021

According to the research the five cheapest cities to live in 2021 are Damascus (Syria), Tashkent (Uzbekistan), Lusaka (Zambia), Caracas (Venezuela), and Almaty (Kazakhstan).

Maria Gourtsilidou
Maria Gourtsilidou is Senior Editor of Research and Data Analytics at the CEOWORLD magazine. She is responsible for driving thought leadership, using data analytics to showcase the company’s products and services, and fostering knowledge sharing between CEOWORLD magazine and client organizations. She studied Public Administration (Economics Of The Public Sector) in Greece and holds a Bachelor’s in Public Administration from the Panteion University of Political & Social Studies. Follow Maria Gourtsilidou on Twitter. Write at maria-gourtsilidou@ceoworld.biz.
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