Geneva ranked as the costliest place for expats to stay in Europe

Two Swiss cities have been ranked within the high 10 costliest locations for expats to stay on the planet, in line with the newest price of dwelling report by the ECA. Despite solely recording a small enhance in the price of dwelling during the last yr, costs within the alpine nation nonetheless make Geneva and Zurich a few of the costliest locations to name house.

Cost of Living Ranking 2022 by ECA

The ECA’s Cost of Living Ranking analyses 207 cities in 120 nations all over the world and ranks them by how costly it’s to stay there. The rating is tailor-made particularly to expats and is supposed to be a information to what an worker’s salary must be when dwelling in sure areas.

The ECA ranks the price of dwelling in every metropolis by seeing how costly meals, clothes, electrical items, utilities and public transport are in comparison with different areas, and analyses how costs have modified within the final 12 months. This is mixed with “lodging analysis” – figuring out the price of renting a house or apartment and buying a house – to create the ultimate rating.

Hong Kong, New York and Geneva the costliest cities on the planet

In the 2022 report, Hong Kong was deemed to be the costliest metropolis on the planet to stay in, adopted by New York. The ECA discovered that important objects like tomatoes, milk and petrol are sometimes greater than double the worth in Hong Kong than they’re in the remainder of the world. Due to dramatic rises in inflation during the last yr, the most cost-effective metropolis for expats was discovered to be Ankara in Turkey.

For the second yr in a row, Geneva was ranked as the third costliest place to stay on the planet, and the costliest in Europe. Zurich fell behind Tel Aviv within the newest rating, making it the third costliest metropolis in Europe and seventh on the planet. The city of Bern got here sixteenth general.

Zurich and Geneva stay extremely costly to stay in

Zurich and Geneva are usually voted as some of the most expensive cities in the world to live in. However, many research agree that that is usually compensated by increased salaries and extra rewarding work contracts.

The largest worth will increase have been seen in London, New York and Reykjavik, with rental prices within the British capital rising by an alarming 20 % during the last yr. British cities have seen a few of the largest rises in the price of dwelling, with Edinburgh, Manchester, Birmingham, Cardiff and Belfast all rising by a median of six locations within the rating.

Most costly cities for expats in 2022 revealed

According to the ECA, the highest 10 costliest cities on the planet for expats are:

  1. Hong Kong
  2. New York
  3. Geneva
  4. London
  5. Tokyo
  6. Tel Aviv
  7. Zurich
  8. Shanghai
  9. Guangzhou
  10. Seoul

To see how different cities in Europe and all over the world carried out, try the ECA website.

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