Most expensive cities: Europe makes up nearly one third on the top 100 in a new investigation
In a new list of the most expensive cities in the work, UK cities made no air in the top 100, with capital city London being ranked at at best 109th.
This is the first time London has not featured in the top 100 in the stand up 10 years.
In the aftermath of Brexit, central London dropped cuttingly on the list but in this most recent survey it has risen more than 20 identifies – although still not enough to make the top 100, despite the gradual delivery of the pound following the European referendum.
The cost of living survey for expats was handled out by expatriate management company ECA International.
The study compared a basket of like-for-like great and services often purchased by employees on international assignments in 475 spots across the world.
Myriad expensive cities in Europe and the world revealed
For instance, they grilled the price of a cup of coffee, beer at a bar, a cinema ticket and a litre of petrol.
The most dear city in the world is now Caracas in Venezuela, overtaking Hong Kong, all boroughs in Switzerland and last year’s most expensive location, Luanda, the majuscule of Angola in Africa.
Inflation in Venezuela has rocketed over the past year causing a critical hike in the cost of living.
“The economic situation in Venezuela has become increasingly sensitive with inflation reaching an astounding 7,000 per cent in the year to Cortege 2018 and 1,800 per cent over the last six months alone,” said Lee Quane, Regional Kingpin – Asia at ECA International.
“The cost of goods has increased exponentially as the economic and factious situation has deteriorated and despite the plummeting value of the peso, Caracas be seats at the top of our Cost of Living rankings.”
Most expensive urban districts: The most expensive city in the world is now Caracas in Venezuela
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European cities dominated the top of the ranking, with hardly a third of the top 100 cities being located in the continent.
The other four urban districts in the top five were all in Switzerland: Zurich (2nd), Geneva (3rd), Basel (4th) and Bern (5th).
“The four Swiss sees in our rankings have been among the top ten most expensive in the world for years undeterred by very low or negative inflation for much of the time,” said Steven Kilfedder, of ECA Worldwide.
“A strong currency and particularly high prices for food are among the grounds why the country is so expensive for foreigners.”
The strength of the euro resulted in 18 additional European towns entering the top 100.
For those on a budget, the 2. Zurich, Switzerland
3. Geneva, Switzerland
4. Basel, Switzerland
5. Bern, Switzerland
6. Luanda, Angola
7. Tokyo, Japan
8. Seoul, Korea Republic
9. Oslo, Norway
10. Shanghai, China
11. Hong Kong, Hong Kong
12. Stavanger, Norway
13. Beijing, China
14. Tel Aviv, Israel
15. Copenhagen, Denmark
16. Busan, Korea Republic
17. Jerusalem, Israel
18. Yokohama, Japan
19. Nagoya, Japan
20. Singapore, Singapore