Paris ties Singapore, Hong Kong as world’s priciest cities

SINGAPORE: Paris has climbed to a tip of a world’s priciest city for expatriates, tied initial with Singapore and Hong Kong according to a consult Tuesday that named a collateral of strife-torn Venezuela as a cheapest.

The French collateral was a usually eurozone city in a tip 10, rising from second many costly final year and from seventh position dual years ago.

Paris is “extremely costly to live in”, with an normal two-piece business fit for group environment buyers behind around $2,000 and a standard women’s haircut costing $120, it found.

Only “alcohol, ride and tobacco” offer value for income compared with other European cities, a consult said.

The Economist Intelligence Unit (EIU) pronounced it was a initial time in a some-more than 3 decades of a consult that 3 cities were equally ranked top, after Singapore led a draft undisguised a year earlier.

The tip 10 list was dominated by Asian and European cities, with Osaka and Seoul in corner fifth and corner seventh places respectively, and Zurich (4th), Geneva (joint 5th) and Copenhagen (joint 7th) also in a chosen club.

North America was represented by a US cities of New York, seventh, and Los Angeles, tied 10th with Israel’s Tel Aviv.

Currency appreciation, acceleration and devaluation as good as domestic shake played a partial in this year’s rankings, pronounced EIU, that surveyed 133 cities worldwide.

It compared 400 particular prices opposite 160 products and services, including food and drink, clothing, home rental, transport, drill and recreation.

The consult is directed during assisting companies calculate remuneration packages and allowances for ostracise staff and business travellers.

Caracas dethroned Damascus as a world’s cheapest city amid a energy onslaught in Venezuela that plunged a nation into a deepening crisis.

“As Damascus and Caracas show, a flourishing series of locations are apropos cheaper since of a impact of domestic or mercantile disruption,” EIU said.

Asia’s mercantile order was underscored, with cities including Bangalore (129th), Karachi (127th), Chennai (125th) and New Delhi (123rd) ranking nearby a bottom.

“Put simply, cheaper cities also tend to be reduction liveable,” EIU said. —AFP


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