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Visualized: The Most (and Least) Expensive Cities to Live In



Infographic showing the Most and Least Expensive Cities in the world

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Visualizing The Most (and Least) Expensive Cities to Live In

There are many benefits to living in an iconic city like New York or Singapore, but the amenities and exclusivity can come at a high cost.

Cities become “expensive” due to a variety of factors such as high demand for housing, a concentration of high-paying businesses and industries, and a high standard of living. Additionally, factors such as taxes, transportation costs, and availability of goods and services can also contribute to the overall cost of living in global cities.

The infographic above uses data from EIU to rank the world most and least expensive cities to live in. To make the list, the EIU examines 400+ prices for over 200 products and services in 172 cities, surveying a variety of businesses to track price fluctuations over the last year.

Inflation + Strong Currency = Expensive Cities

If you live in a city where many residents find it challenging to put a roof over their heads, food on their plates, and make ends meet, you live in an expensive city.

But if this inflation is compounded with a strong national currency, you may live in one of the world’s most expensive cities.

Rank CityCountryIndex Score
#1Singapore🇸🇬 Singapore100
#1New York 🇺🇸 U.S.100
#3Tel Aviv🇮🇱 Israel99
#4Hong Kong🇭🇰 Hong Kong98
#4Los Angeles🇺🇸 U.S.98
#6Zurich🇨🇭 Switzerland94
#7Geneva🇨🇭 Switzerland91
#8San Francisco🇺🇸 U.S.85
#9Paris🇫🇷 France84
#10Copenhagen🇩🇰 Denmark83

Singapore and New York City tied for the first rank amongst the world’s most expensive cities in 2022, pushing Israel’s Tel Aviv from the first place in 2021 to the third place in 2022. Both these cities had high inflation and a strong currency. Surprisingly, this is the Big Apple’s first time atop the ranking.

The city with one of the most expensive real estate markets worldwide, Hong Kong ranked fourth in this list, followed by Los Angeles, which moved up from its ninth rank in 2021.

Poor Economies = Cheaper Cities

Asia continues to dominate the list of the world’s least expensive cities, followed by parts of North Africa and the Middle East. Though affordability sounds good at face value, sitting at the bottom of the ranking isn’t necessarily a coveted position.

While the cost of living in some of the cities in these nations is low, it comes at the price of a weak currency, poor economy, and, in many cases, political and economic turmoil.

RankCityCountryIndex Score
#161Colombo🇱🇰 Sri Lanka38
#161Bangalore🇮🇳 India38
#161Algiers🇩🇿 Algeria38
#164Chennai🇮🇳 India37
#165Ahmedabad🇮🇳 India35
#166Almaty🇰🇿 Kazakhstan34
#167Karachi🇵🇰 Pakistan32
#168Tashkent🇺🇿 Uzbekistan31
#169Tunis🇹🇳 Tunisia30
#170Tehran🇮🇷 Iran23
#171Tripoli🇱🇾 Libya22
#172Dasmascus 🇸🇾 Syria11

The decade-long conflict in Syria weakened the Syrian pound, led to a spiraling inflation and fuel shortages, and further collapsed its economy. It’s no surprise that its capital city of Damascus has maintained its position as the world’s cheapest city.

Tripoli and Tehran, the capitals of Libya and Iran, respectively, follow next on this list, reflecting their weakened economies.

Meanwhile, seven cities in Asia with the common denominator of high-income inequality and low wages dominate the list of the world’s cheapest cities. These include three Indian cities, Tashkent in Uzbekistan, Almaty in Kazakhstan, Pakistan’s most populous city of Karachi, and Sri Lankan capital–Colombo.

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Visualizing $97 Trillion of Global Debt in 2023

Global debt has soared since the pandemic. Which countries have the biggest stockpile of debt outstanding in 2023?



Visualizing $97 Trillion of Global Debt in 2023

Global debt is projected to hit $97.1 trillion this year, a 40% increase since 2019.

During the COVID-19 pandemic, governments introduced sweeping financial measures to support the job market and prevent a wave of bankruptcies. However, this has exposed vulnerabilities as higher interest rates are amplifying borrowing costs.

This graphic shows global debt by country in 2023, based on projections from the International Monetary Fund (IMF).

Debt by Country in 2023

Below, we rank countries by their general government gross debt, or the financial liabilities owed by each country:

CountryGross Debt (B)% of World TotalDebt to GDP
🇺🇸 U.S.$33,228.934.2%123.3%
🇨🇳 China$14,691.715.1%83.0%
🇯🇵 Japan$10,797.211.1%255.2%
🇬🇧 UK$3,468.73.6%104.1%
🇫🇷 France$3,353.93.5%110.0%
🇮🇹 Italy$3,141.43.2%143.7%
🇮🇳 India$3,056.73.1%81.9%
🇩🇪 Germany$2,919.33.0%65.9%
🇨🇦 Canada$2,253.32.3%106.4%
🇧🇷 Brazil$1,873.71.9%88.1%
🇪🇸 Spain$1,697.51.7%107.3%
🇲🇽 Mexico$954.61.0%52.7%
🇰🇷 South Korea$928.11.0%54.3%
🇦🇺 Australia$875.90.9%51.9%
🇸🇬 Singapore$835.00.9%167.9%
🇧🇪 Belgium$665.20.7%106.0%
🇦🇷 Argentina$556.50.6%89.5%
🇮🇩 Indonesia$552.80.6%39.0%
🇳🇱 Netherlands$540.90.6%49.5%
🇵🇱 Poland$419.40.4%49.8%
🇬🇷 Greece$407.20.4%168.0%
🇹🇷 Türkiye$397.20.4%34.4%
🇷🇺 Russia$394.80.4%21.2%
🇦🇹 Austria$393.60.4%74.8%
🇪🇬 Egypt$369.30.4%92.7%
🇨🇭 Switzerland$357.70.4%39.5%
🇹🇭 Thailand$314.50.3%61.4%
🇮🇱 Israel$303.60.3%58.2%
🇵🇹 Portugal$299.40.3%108.3%
🇲🇾 Malaysia$288.30.3%66.9%
🇿🇦 South Africa$280.70.3%73.7%
🇵🇰 Pakistan$260.90.3%76.6%
🇸🇦 Saudi Arabia$257.70.3%24.1%
🇮🇪 Ireland$251.70.3%42.7%
🇵🇭 Philippines$250.90.3%57.6%
🇫🇮 Finland$225.00.2%73.6%
🇳🇴 Norway$204.50.2%37.4%
🇨🇴 Colombia$200.10.2%55.0%
🇹🇼 Taiwan$200.00.2%26.6%
🇸🇪 Sweden$192.90.2%32.3%
🇷🇴 Romania$178.70.2%51.0%
🇧🇩 Bangladesh$175.90.2%39.4%
🇺🇦 Ukraine$152.80.2%88.1%
🇨🇿 Czech Republic$152.20.2%45.4%
🇳🇬 Nigeria$151.30.2%38.8%
🇦🇪 UAE$149.70.2%29.4%
🇻🇳 Vietnam$147.30.2%34.0%
🇭🇺 Hungary$140.00.1%68.7%
🇨🇱 Chile$132.20.1%38.4%
🇩🇰 Denmark$126.70.1%30.1%
🇮🇶 Iraq$125.50.1%49.2%
🇩🇿 Algeria$123.50.1%55.1%
🇳🇿 New Zealand$115.00.1%46.1%
🇮🇷 Iran$112.10.1%30.6%
🇲🇦 Morocco$102.70.1%69.7%
🇶🇦 Qatar$97.50.1%41.4%
🇵🇪 Peru$89.70.1%33.9%
🇦🇴 Angola$79.60.1%84.9%
🇰🇪 Kenya$79.10.1%70.2%
🇸🇰 Slovakia$75.40.1%56.7%
🇩🇴 Dominican Republic$72.10.1%59.8%
🇪🇨 Ecuador$65.90.1%55.5%
🇸🇩 Sudan$65.50.1%256.0%
🇬🇭 Ghana$65.10.1%84.9%
🇰🇿 Kazakhstan$60.70.1%23.4%
🇪🇹 Ethiopia$59.00.1%37.9%
🇧🇭 Bahrain$54.50.1%121.2%
🇨🇷 Costa Rica$53.90.1%63.0%
🇭🇷 Croatia$51.20.1%63.8%
🇺🇾 Uruguay$47.00.0%61.6%
🇯🇴 Jordan$46.90.0%93.8%
🇸🇮 Slovenia$46.80.0%68.5%
🇨🇮 Côte d'Ivoire$45.10.0%56.8%
🇵🇦 Panama$43.50.0%52.8%
🇲🇲 Myanmar$43.00.0%57.5%
🇴🇲 Oman$41.40.0%38.2%
🇹🇳 Tunisia$39.90.0%77.8%
🇷🇸 Serbia$38.50.0%51.3%
🇧🇴 Bolivia$37.80.0%80.8%
🇹🇿 Tanzania$35.80.0%42.6%
🇺🇿 Uzbekistan$31.70.0%35.1%
🇿🇼 Zimbabwe$30.90.0%95.4%
🇧🇾 Belarus$30.40.0%44.1%
🇬🇹 Guatemala$29.10.0%28.3%
🇱🇹 Lithuania$28.70.0%36.1%
🇸🇻 El Salvador$25.80.0%73.0%
🇺🇬 Uganda$25.30.0%48.3%
🇸🇳 Senegal$25.20.0%81.0%
🇨🇾 Cyprus$25.20.0%78.6%
🇱🇺 Luxembourg$24.60.0%27.6%
🇭🇰 Hong Kong SAR$23.50.0%6.1%
🇧🇬 Bulgaria$21.70.0%21.0%
🇨🇲 Cameroon$20.60.0%41.9%
🇲🇿 Mozambique$19.70.0%89.7%
🇵🇷 Puerto Rico$19.60.0%16.7%
🇳🇵 Nepal$19.30.0%46.7%
🇱🇻 Latvia$18.90.0%40.6%
🇮🇸 Iceland$18.70.0%61.2%
🇵🇾 Paraguay$18.10.0%40.9%
🇱🇦 Lao P.D.R.$17.30.0%121.7%
🇭🇳 Honduras$15.70.0%46.3%
🇵🇬 Papua New Guinea$15.70.0%49.5%
🇹🇹 Trinidad and Tobago$14.60.0%52.5%
🇦🇱 Albania$14.50.0%62.9%
🇨🇬 Republic of Congo$14.10.0%97.8%
🇦🇿 Azerbaijan$14.10.0%18.2%
🇾🇪 Yemen$14.00.0%66.4%
🇯🇲 Jamaica$13.60.0%72.3%
🇲🇳 Mongolia$13.10.0%69.9%
🇧🇫 Burkina Faso$12.70.0%61.2%
🇬🇦 Gabon$12.50.0%64.9%
🇬🇪 Georgia$11.90.0%39.6%
🇲🇺 Mauritius$11.80.0%79.7%
🇦🇲 Armenia$11.80.0%47.9%
🇧🇸 Bahamas$11.70.0%84.2%
🇲🇱 Mali$11.00.0%51.8%
🇲🇹 Malta$11.00.0%54.1%
🇰🇭 Cambodia$10.90.0%35.3%
🇧🇯 Benin$10.60.0%53.0%
🇲🇼 Malawi$10.40.0%78.6%
🇪🇪 Estonia$9.00.0%21.6%
🇨🇩 Democratic Republic of Congo$9.00.0%13.3%
🇷🇼 Rwanda$8.80.0%63.3%
🇳🇦 Namibia$8.50.0%67.6%
🇲🇬 Madagascar$8.50.0%54.0%
🇳🇪 Niger$8.30.0%48.7%
🇲🇰 North Macedonia$8.20.0%51.6%
🇧🇦 Bosnia and Herzegovina$7.70.0%28.6%
🇲🇻 Maldives$7.70.0%110.3%
🇬🇳 Guinea$7.30.0%31.6%
🇳🇮 Nicaragua$7.20.0%41.5%
🇧🇧 Barbados$7.20.0%115.0%
🇹🇬 Togo$6.10.0%67.2%
🇰🇬 Kyrgyz Republic$6.00.0%47.0%
🇲🇩 Moldova$5.60.0%35.1%
🇹🇩 Chad$5.40.0%43.2%
🇰🇼 Kuwait$5.40.0%3.4%
🇲🇷 Mauritania$5.10.0%49.5%
🇭🇹 Haiti$5.10.0%19.6%
🇬🇾 Guyana$4.90.0%29.9%
🇲🇪 Montenegro$4.60.0%65.8%
🇫🇯 Fiji$4.60.0%83.6%
🇹🇲 Turkmenistan$4.20.0%5.1%
🇹🇯 Tajikistan$4.00.0%33.5%
🇧🇼 Botswana$3.90.0%18.7%
🇬🇶 Equatorial Guinea$3.80.0%38.3%
🇸🇷 Suriname$3.80.0%107.0%
🇸🇸 South Sudan$3.80.0%60.4%
🇧🇹 Bhutan$3.30.0%123.4%
🇦🇼 Aruba$3.20.0%82.9%
🇸🇱 Sierra Leone$3.10.0%88.9%
🇨🇻 Cabo Verde$2.90.0%113.1%
🇧🇮 Burundi$2.30.0%72.7%
🇱🇷 Liberia$2.30.0%52.3%
🇽🇰 Kosovo$2.20.0%21.3%
🇸🇿 Eswatini$2.00.0%42.4%
🇧🇿 Belize$1.90.0%59.3%
🇱🇨 Saint Lucia$1.80.0%74.2%
🇬🇲 Gambia$1.70.0%72.3%
🇩🇯 Djibouti$1.60.0%41.8%
🇦🇬 Antigua and Barbuda$1.60.0%80.5%
🇸🇲 San Marino$1.50.0%74.0%
🇬🇼 Guinea-Bissau$1.50.0%73.9%
🇱🇸 Lesotho$1.50.0%61.3%
🇦🇩 Andorra$1.40.0%37.7%
🇨🇫 Central African Republic$1.40.0%50.1%
🇸🇨 Seychelles$1.30.0%60.8%
🇻🇨 Saint Vincent and the Grenadines$0.90.0%86.2%
🇬🇩 Grenada$0.80.0%60.2%
🇩🇲 Dominica$0.70.0%93.9%
🇰🇳 Saint Kitts and Nevis$0.60.0%53.2%
🇻🇺 Vanuatu$0.50.0%46.8%
🇰🇲 Comoros$0.50.0%33.3%
🇸🇹 São Tomé and Príncipe$0.40.0%58.5%
🇸🇧 Solomon Islands$0.40.0%22.2%
🇧🇳 Brunei Darussalam$0.30.0%2.3%
🇼🇸 Samoa$0.30.0%36.2%
🇹🇱 Timor-Leste$0.30.0%16.4%
🇵🇼 Palau$0.20.0%85.4%
🇹🇴 Tonga$0.20.0%41.1%
🇫🇲 Micronesia$0.10.0%12.5%
🇲🇭 Marshall Islands$0.10.0%18.1%
🇳🇷 Nauru<$0.10.0%29.1%
🇰🇮 Kiribati<$0.10.0%13.1%
🇹🇻 Tuvalu<$0.10.0%8.0%
🇲🇴 Macao SAR<$0.10.0%0.0%
🌐 World$97,129.8100%93.0%

With $33.2 trillion in government debt, the U.S. makes up over a third of the world total.

Given the increasing debt load, the cost of servicing this debt now accounts for 20% of government spending. It is projected to reach $1 trillion by 2028, surpassing the total spent on defense.

The world’s third-biggest economy, Japan, has one of the highest debt to GDP ratios, at 255%. Over the last two decades, its national debt has far exceeded 100% of its GDP, driven by an aging population and social security expenses.

In 2023, Egypt faces steep borrowing costs, with 40% of revenues going towards debt repayments. It has the highest debt on the continent.

Like Egypt, several emerging companies are facing strain. Lebanon has been in default since 2020, and Ghana defaulted on the majority of its external debt—debt owed to foreign lenders—in 2022 amid a deepening economic crisis.

Global Debt: A Regional Perspective

How does debt compare on a regional level in 2023?

RegionGross Debt (B)% of World TotalDebt to GDP
North America$36,451.837.5%117.6%
Asia and Pacific$34,257.435.3%92.5%
South America$3,164.93.3%77.2%
Africa $1,863.61.9%65.2%
Other/Rest of World$1,269.11.3%31.4%

We can see that North America has both the highest debt and debt to GDP compared to other regions. Just as U.S. debt has ballooned, so has Canada’s—ranking as the 10th-highest globally in government debt outstanding.

Across Asia and the Pacific, debt levels hover close to North America.

At 3.3% of the global total, South America has $3.2 trillion in debt. As inflation has trended downwards, a handful of governments have already begun cutting interest rates. Overall, public debt levels are projected to stay elevated across the region.

Debt levels have also risen rapidly in Africa, with an average 40% of public debt held in foreign currencies—leaving it exposed to exchange rate fluctuations. Another challenge is that interest rates are also higher across the region compared to advanced economies, increasing debt-servicing costs.

By 2028, the IMF projects that global public debt will exceed 100% of GDP, hitting levels only seen during the pandemic.

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