World’s costliest cities to dwell in throughout Covid
(CNN) – It is a dream come true for many – to move to a bigger city and create a new exciting life.
But as we all know, living in a city brings value – especially if you choose Hong Kong, Paris or Zurich, which are the cheapest cities in the world according to a new survey.
The Economist Intelligence Unit (EIU) – which oversees 133 cities around the world, compares the cost of a basket of 138 daily items – has been placed on a table.European cities collided with Singapore and Osaka, which linked Hong Kong to the World Health Survey, which took place in March.
The change is particularly noticeable this time around, with the report increasing as a review of the Covid-19 epidemic on prices around the world.
The economic downturn due to the epidemic – which has included immersion in the US dollar – means that destinations in Africa, America and Eastern Europe have declined since March, while Western Europe, where the euro has risen against the dollar, has seen prices rise. Swiss francs have also risen in price.
The cheapest cities in the world
Singapore has dropped from first to fourth place
Courtesy of Singapore Tourism Board
Singapore and Osaka are now fourth and fifth in a row, with Tel Aviv joining Osaka in fifth place. The influx of foreign workers during the epidemic was the downfall of Singapore – which saw its people for the first time in 17 years – according to the EIU.
The top 10 finishers are Geneva, New York City, Copenhagen and Los Angeles.
Sydney is 15th, London is 20, and Nairobi is 77.
Moscow is ranked 106th, and Delhi is 121th.
The largest size is Tehran, which has climbed the ladder from 106 to 79, due to U.S. steel-sensitive materials. Reykjavik, Rio de Janeiro and Sao Paulo are showing significant declines in prices. The EIU says the increase in Brazilian cities is “low income and high levels of poverty.” Brazil has been hit hard by the epidemic.
Damascus in Syria is the city with the lowest prices, followed by Uzbekistan Tashkent, Lusaka in Zambia, Caracas (Venezuela) and Almaty, Kazakhstan.
The last 10 have been surrounded by Karachi (Pakistan), Buenos Aires (Argentina), Algiers (Algeria) and Bangalore and Chennai, India. The Argentine government has put in place measures to improve prices during the epidemic, which could explain Buenos Aires.
Cheap electronics and cheap clothing
Buenos Aires is near the bottom of the list
JUAN MABROMATA / AFP / AFP / Getty Photos
Don’t just be cities that have rotated around. The study found that electricity prices – have increased worldwide. Clothes, then, have fallen out – probably due to the sheer number of people working from home. Most of the food remained the same, while social services, tobacco and alcohol all went up.
“The Covid-19 epidemic has weakened the US dollar while Western and North Asian currencies have strengthened, which has changed prices and services,” said Upasana Dutt, the EIU’s world capital.
“The epidemic has changed the shopping system, as closures and other incidents such as working from home to increase electricity prices and home dining equipment have taken over restaurants for middle-class families.”
As for the future, things are not looking good. The EIU predicts that the trend will continue, with people focusing more on entertainment and domestic entertainment than clothing in 2021.
The cheapest cities in the world by 2020
1. (no) Paris, France
1. (construction) Hong Kong
1 (no) Zurich, Switzerland
5. (no) Osaka, Japan
5. (tayi) Tel Aviv, Israel
7. Geneva, Switzerland
8. New York City
9. Copenhagen, Denmark
10. Los Angeles