Summary of Worldwide Cost of Living 2018

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Rating

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8 Applicability

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Recommendation

Decisions about where to live or do business are complex and filled with trade-offs. The 2018 edition of the Economist Intelligence Unit’s annual report on the cost of living around the world adds an accessible guide to the roster of resources. It clearly lays out rankings of major cities’ wallet-friendliness and identifies the important factors that determine living costs. getAbstract recommends it to executives charged with making corporate location choices and to those contemplating a move to another part of the world.

In this summary, you will learn

  • Which cities are the most expensive for day-to-day living, and which ones are the cheapest;
  • What broad factors affect the cost of living in urban centers around the world; and
  • What trends will influence future price movements.
 

About the Author

The Economist Intelligence Unit is an independent research and analysis organization.

 

Summary

In 2018, for the fifth year running, Singapore takes the top position as the world’s most expensive of the 133 cities surveyed. Holding slots two through five are Paris, Zurich, Hong Kong and Oslo. Sydney has risen through the ranks to join Singapore and Seoul as the Asia-Pacific cities in the top ten, while Tokyo and Osaka have dropped out. European metropolises now account for half of the top ten’s priciest locales. New York City moved down four notches to 13th place due to a weaker dollar. Damascus, Caracas, Almaty, Lagos and Bangalore occupy the bottom five spots for living costs. Using New York City as a reference point, the global cost of living increased to 74% in 2018, up one percentage point from 2017, but still well below 2013’s 85.5%. 


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    LAMIA OUALI CHAOUCHE 6 months ago
    Interesting...and good to know
  • Avatar
    Wonder Amedzo 6 months ago
    Oh wow this is very interesting