image of this article category

The most expensive cities in the world... Get to know them!

04.12.2022 08:01 AM
The most expensive cities in the world... Get to know them!
dooklik website logo
share this article on facebook
share this article on twitter
share this article on whatsapp
share this article on facebook messenger
The most expensive cities in the world... Get to know them!

New York topped - for the first time - the ranking of the most expensive cities in the world, along with Singapore, which is used to occupying the first place. Due to the crisis of the global high cost of living, according to what was reported by "The Economist" magazine.

And according to the 2022 report on the cost of living published by the British magazine - today, Thursday - that "prices increased by an average of 8.1% on an annual basis (in local currency) in 172 major cities in the world, which is the largest increase recorded in at least 20 years."

This rise reflects the impact of "the war in Ukraine, and the ongoing restrictions associated with the Corona epidemic, which disrupt supply chains," and affects - in particular - "energy and food."

The strength of the dollar in recent months - being a safe haven in times of crisis - has pushed American cities to the highest ranks in the rankings. Because this happens after converting prices into the US currency, and then its rise leads - automatically - to lower prices outside the United States.

Thus, Los Angeles reached the fourth place, and San Francisco the eighth.

Moscow and St. Petersburg saw prices soar, jumping in the rankings; The Russian capital has reached 37th place under the influence of Western sanctions, and the booming energy market, which supports the ruble, said The Economist.

But most other European cities are in decline, as the energy crisis and weak economies have taken a toll on the euro and local currencies. Thus, Paris lost four places, to reach the ninth place, while Lyon fell 34 places, to reach the 90th place.

And the fastest price hike was in fuel (as it happened in 2021), which rose by 22% in local currency amid higher oil prices, but electricity, food and basic materials also rose.

On the other hand, the prices of entertainment activities remained moderate, "which reflects weak demand, as consumers focus their spending on basic commodities," according to The Economist, which is based on the results of a study it conducted between August 16 and September 16.

Related Articles
doolik website logo
Forests usually have a special charm where the atmosphere of wildlife, camping, hunting, enjoyment of greenery, water, adventure and excitement, but there are some forests that are distinguished by their strange trees, whether in shape, size or scarcity, and these are the 10 most beautiful forests in the world:
doolik website logo
Kevin and Jaqi Clements had their twins earlier than they expected, nonetheless, the children were born perfectly healthy and rather adorable. The family was happy to have their two newest additions Ave Marie and Leah Rose Clements back in 2010.
doolik website logo
There have been many weird and wonderful scientific discoveries in 2022.
Live Video Streaming
Live video streaming lets you engage with your audience in real time with a video feed. Broadcast your daily show to your audience with no limits, no buffering and high quality videos. Reach all devices anytime anywhere with different video qualities that suits any device and any connection.
The website uses cookies to improve your experience. We’ll assume you’re ok with this, but you can opt-out if you wish.