Cairo cheapest city Worldwide, Zurich most expensive
Wednesday، 30 May 2018 - 02:09 PM
Zurich and Geneva are still the world’s two most expensive major cities; according to the annual rankings of 77 metropolitan areas by Swiss bank UBS.
Egypt’s capital Cairo is the cheapest.
The two Swiss cities beat New York, Oslo and Copenhagen, revealed UBS’s 2018 “Cost of living in cities around the world external link” survey on Tuesday29/5/2018.
UBS based its calculations on a basket of 128 goods and services representing the spending habits of a three-person European family – with separate data sets including and excluding rent, the single largest cost for most people.
However, when it comes to buying power – earnings versus prices, or what people can afford – Los Angeles did best, pipping Zurich, Miami and Geneva.
New York came tenth and London 23rd.
Expensive Hong Kong was the surprise winner for the study authors, but they said Zurich was another surprise.
However, Zurich nabbed top spot for the “Most expensive Saturday nightexternal link”, ahead of Stockholm and Miami. “Partying doesn’t come cheap in the Swiss and Swedish cities,” the authors noted.
“At around $27 for a club entry, $35 for a couple of drinks and the most expensive cab rides around, your night will lighten your wallet by nearly $100 for you alone.”