The Most And Least Expensive Cities In The World

Those of you who are complaining about the price of sushi in Vancouver, now officially have some legs to stand on. As of the latest “Worldwide Cost of Living Survey” from the Economist Intelligence Unit (EIU), Tokyo is the world’s most expensive city to live in while Vancouver is the priciest in North America. So basically what you’re doing is ordering sashimi from the most expensive city in the world, and then paying for it in the most expensive city in North America.

This biannual survey compares hundreds of prices across 160 products and services, including food, drink, rentals, utility bills, schooling costs and household supplies. Even though many of these factors are not true ‘cost of living’ indicators for many residents, it does give you a good overview of the economic situation surrounding.

Vancouver, BC ranked 21st on the worldwide list, ahead of New York and Los Angeles which tied for 27th. Still, New York had one of the biggest jumps on the list, rising 19 spots.

“Only 12 cities of the 131 surveyed saw a relative rise in the cost of living compared with New York, reflecting a stronger US dollar and rising costs in the Big Apple, especially in the clothing, tobacco and grocery categories,” the EIU report explains.

Meanwhile, Tokyo’s top spot is a familiar position for the Japanese capital, which has been the world’s most expensive city for all but a handful of the last 20 years. In fact, since 1992 Tokyo has been the top-ranking city every year bar six. Only Zurich, Paris and Oslo were dubbed the world’s most expensive city during this time.

However I do believe you have to take all these numbers with a grain of salt. There is a big difference between a business centric metropolis like Tokyo, and a lifestyle city like Vancouver. The average person in Vancouver works less hours, has more hobbies, and generally, a better standard of life. So again, Vancouver is definitely expensive, but when you have a large majority of the downtown population living off of their parents income, it definitely skews the numbers.

Top 10 most expensive cities in the world

  1. Tokyo, Japan (+1 place)
  2. Osaka, Japan (+1)
  3. Sydney, Australia (+4)
  4. Oslo, Norway (+1)
  5. Melbourne, Australia (+4)
  6. Singapore (+3)
  7. Zurich, Switzerland (-6)
  8. Paris, France (-2)
  9. Caracas, Venezuela (+25)
  10. Geneva, Switzerland (-7)

Top 10 least expensive cities in the world

  1. Karachi, Pakistan
  2. Mumbai, India
  3. New Delhi, India
  4. Kathmandu, Nepal
  5. Algiers, Algeria
  6. Bucharest, Romania
  7. Colombo, Sri Lanka
  8. Panama City, Panama
  9. Jeddah, Saudi Arabia
  10. Tehran, Iran

Which of these cities would you most like to live in? Vote in the comments below!

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