January 29, 2023
The 10 most expensive cities in the world to live in will make your pocket cry

The 10 most expensive cities in the world to live in will make your pocket cry

The most expensive cities in the world to live in 2022 are global megacities, such as New York, London, Hong Kong, and Singapore. Some areas offer their residents an exceptional quality of life, with first-class health, education and transportation services. However, the cost of essential items, including food, Accommodation and transportation are very high.

See also: Where do you live after the age of sixty? Top 4 ideal cities for your retirement

The latest ranking of the most expensive cities

The Economic Intelligence Unit (EIU) states that the most expensive cities have a cost of living that is 15% higher than the cheapest cities. Because of the restrictions imposed by the Ukrainian war, which led to Russia imposing sanctions on Europe that stopped receiving energy, the rates went up. The inflation The global economy has been increasingly problematic in recent years, with most countries experiencing higher than normal inflation rates.

These are the ten cities with the highest cost of living

  1. Singapore, Singapore
  2. New York, United States
  3. Tel Aviv, Israel
  4. Hong Kong, China
  5. Los Angeles, United States
  6. Zurich, Switzerland
  7. Geneva, Switzerland
  8. San Francisco, United States
  9. Paris France
  10. Copenhagen, Denmark and Sydney, Australia

High prices worry global organizations

Economic instability can be caused by many factors, including rising food and oil prices, wars, or financial crises. In this case, even centers that are considered financially stable begin to experience difficulties. European Union (European Union), for example, has been slowly recovering and has to deal with one of the biggest energy crises in recent years.

Uncertain future

The pandemic imposed many restrictions that prevented many companies from fully operating, especially companies. The poorest continents suffer the most, given the lack of structure and the few resources to maintain populations. It is possible that global institutions such as the United Nations (UN) will establish mechanisms for harm reduction in an uncertain future.