ECA has released its annual list of the most expensive city in the world
The world to live in, Hong Kong once again tops the rankings.
The company bases its classification on several factors, including the average price of food
Basic, such as milk, cooking oil, rent, utilities, public transportation, power
local currency.
For the third year in a row, Hong Kong receives the dubious honor of being
The most expensive city in the world according to the ECA index. The indicator places special emphasis on
Foreign workers and expatriates, in his classifications.
Asia in the lead
It can be said that the continent of Asia is the most expensive in the world, as five cities have settled in it, they are:
Hong Kong, Tokyo, Shanghai, Guangzhou and Seoul are in the top ten.
Tel Aviv is counted in Israel, ranked sixth in the world, among the total number
For the most expensive cities in the world located in the Asian continent, bringing the total number of cities
to six out of 10.
Asia also claims to be the birthplace of the world's fastest growing city on the list
Total, i.e. Colombo, the main capital of Sri Lanka, which moved up 23 places
It ranks 149th on the list, after it was 162nd.
But, what are the cities that have fallen in rank from what they were in previous years?
The French capital, Paris, was out of competition, having topped the ECA index in the past, to be in the top thirty. The cities of Madrid, Rome and Brussels also recorded a decline.
"Almost every major city in the eurozone has seen a drop in the global rankings this year, as the euro's performance in the past 12 months has been worse compared to the US dollar and the British pound," Cowen explained.
External factors such as politics and international conflicts can also play a role. The Russian invasion of Ukraine, and the accompanying sanctions imposed by many countries, dropped Moscow to 62nd place, and Saint Petersburg to 147th.
The most expensive city in Europe is Geneva in Switzerland, which came in third place after Hong Kong and New York. Switzerland still uses the Swiss franc instead of the euro.
The coronavirus pandemic has cast a shadow over global supply chains and other economic factors
