World’s Cheapest and Most Expensive Cities Announced

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The Economist released its Worldwide Cost of Living 2021 report today. The report revealed that there are big changes in the list of the world’s most expensive cities this year. While the coronavirus was the main cause of this change, the inflation rate in cities was measured at 3.5%.

In many studies shared to date, we have seen that Hong Kong is the most expensive city in the world to live in. However, the latest report shared by the UK-based The Economist, one of the world’s leading media companies, revealed that this situation has changed. Worldwide Cost of Living 2021 The report was published this morning.

According to the report, which covers 173 cities in total, the title of the most expensive city in the world comes from Hong Kong. Israel’s financial and technology center moved to Tel Aviv. The reason why the city of Israel suddenly climbed to the top of this list was shown as the sudden increase in inflation in food and services due to the impact of the coronavirus pandemic. Tel Aviv was ranked 6th last year. Hong Kong, Paris and Zurich shared the title of the most expensive city of 2020.

The most expensive cities in the world:

Tel Aviv, Israel

Paris, the capital of France, came after Tel Aviv in the list of the most expensive cities in the world. Paris, the second place with the same score Singapore shared with. While Zurich, Switzerland’s largest city, is in the third place of the list, Hong Kong, which has been at the top for a long time, is now in the fourth place due to the price increases in these cities. 10 most expensive cities in the world The ranking was as follows:

  1. Tel Aviv, Israel
  2. Paris, France – Singapore
  3. Zurich, Switzerland
  4. Hong Kong, China
  5. New York, USA
  6. Geneva, Switzerland
  7. Copenhagen, Denmark
  8. Los Angeles, USA
  9. Osaka, Japan

So, which are the cheapest cities in the world?

Damascus, Syria

The Worldwide Cost of Living 2021 report showed the cheapest cities as well as the most expensive to live in. According to this cheapest cities in the world it was as follows:

  1. Damascus, Syria
  2. Tripoli, Libya
  3. Tashkent, Uzbekistan
  4. Tunisia, Tunisia
  5. Almaty, Kazakhstan
  6. Karachi, Pakistan
  7. Ahmedabad, India
  8. Algeria, Algeria
  9. Buenos Aires, Argentina – Lusaka, Zambia

The cities that moved the most this year are:

Tehran, Iran

The cost of living list has seen big changes this year. The Economist, in cities over the past five years They saw the highest inflation rate of 3.5% this year. While explaining that, the cities where the prices suddenly increased caused the cities that survived the pandemic better to be seen as cheaper cities.

  • Cities with the highest climbs on the list
    • Tehran, Iran (up 50 places)
    • Reykjavik, Iceland (up 21 places) and
    • Kiev became Ukraine (up 13 places), while
  • Cities that fell the most on the list
    • Rome, Italy (down 16 places) and
    • Bangkok, Thailand – Lima, Peru (down 11 places each).

You can find a free summary of The Economist’s report here.


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