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The most expensive cities in the world for 2022

The most expensive cities in the world for 2022

Global mobility company ECA International has published its annual list of the most expensive cities in the world to live in and again Hong Kong tops the list.

The most expensive cities in the world for 2022

The company calculates the list based on several factors, including the average price of household products such as milk and cooking oil, rent, utilities, public transit, and the strength of the local currency.

The most expensive cities in the world for 2022

It's safe to call Asia the most expensive continent, with five cities - Hong Kong, Tokyo, Shanghai, Guangzhou and Seoul - being in the top 10.

So which cities are ranked lower than in previous years?

Paris, which has topped the ECA list in the past, came out of the top 30 places. Madrid, Rome and Brussels also fell.

The most expensive cities in the world for 2022

External factors such as politics and international conflicts can play a role. The Russian occupation of Ukraine and the accompanying sanctions imposed by many countries meant that Moscow was ranked 62nd and St. Petersburg landed at 147th.

The most expensive cities in the world for 2022

The most expensive city in Europe is Geneva, Switzerland, which is in third place after Hong Kong and New York. Switzerland uses the Swiss franc instead of the euro.

The coronavirus pandemic, of course, has played a role in global supply chains and other economic factors.

The most expensive cities in the world for 2022

Other rankings

ECA International is not the only company ranking the cities of the world based on economy.

The London-based Economist Intelligence Unit (EIU) publishes its global cost of living index every December. In 2021, Tel Aviv received the award for the most expensive place to live, with Paris and Singapore equaling in second place.

The most expensive cities in the world for 2022

Hong Kong was in fifth place, after Zurich. In 2020, Hong Kong, Zurich and Paris shared number one.

The most expensive cities in the world

1. Hong Kong

2. New York

3. Geneva

4. London

5. Tokio

6. Tel Aviv

7. Zurich

8. Shanghai

9. Guangzhou

10. Alone