Cities
Ranked: The 10 Most Expensive Cities in the World
The Most Expensive Cities in the World
Where personal wealth is concerned, there are two sides to every story.
The first of which is the amount of money a person earns, and the other is what they choose to spend their money on. The latter is influenced by the cost of living in the city where they reside—an ever-changing metric that is driven by a wide variety of factors, such as currency, population growth, or external market movements.
Today’s graphic visualizes the findings from the 2020 Worldwide Cost of Living report and uses data from 133 cities to rank the most expensive cities in the world.
Note: Report research was conducted towards the end of 2019, before the COVID-19 outbreak.
Asia Dominates the Ranking
Globally, the cost of living has fallen by an average of 4% over the last year, with much of the movement up and down the ranking being driven by currency fluctuations.
The locations with the highest cost of living are largely split between Europe and Asia. For the second time in the report’s 30-year history, three cities are tied as the top spot—Singapore, Hong Kong, and Osaka.
Rank | Country | City | Index Score (New York=100) | Rank Movement |
---|---|---|---|---|
#1(t) | 🇸🇬 Singapore | Singapore | 102 | 0 |
#1(t) | 🇨🇳 China | Hong Kong | 102 | 0 |
#1(t) | 🇯🇵 Japan | Osaka | 102 | 4 |
#4 | 🇺🇸 United States | New York | 100 | 3 |
#5(t) | 🇫🇷 France | Paris | 99 | -4 |
#5(t) | 🇨🇭 Switzerland | Zurich | 99 | -1 |
#7 | 🇮🇱 Israel | Tel Aviv | 97 | 3 |
#8(t) | 🇺🇸 United States | Los Angeles | 96 | 2 |
#8(t) | 🇯🇵 Japan | Tokyo | 96 | 5 |
#10 | 🇨🇭 Switzerland | Geneva | 95 | -5 |
Source: EIU. New York City is index baseline (score = 100). Ties in index score values are denoted by (t).
Osaka is a newcomer to the top spot, climbing four places over the last year to join cost of living heavyweight champions, Singapore and Hong Kong. As Japan’s third-largest city, Osaka is a major financial hub and a breeding ground for emerging startups, with relatively low real estate costs compared to Singapore and Hong Kong.
Three European cities (Paris, Zurich, and Geneva) sit atop the most expensive city rankings, compared to seven cities only 10 years ago. Similarly, 31 of the 37 European cities have seen a decrease in cost of living overall—largely as a result of the Euro or local currencies losing value relative to the U.S. dollar.
Finally, the top 10 is rounded out with two cities from the United States (New York, Los Angeles) and one from Israel (Tel Aviv).
The Cheapest Cities
While East Asia is home to many of the world’s most expensive cities, South Asia hosts the largest grouping of cities with the lowest cost of living.
Rank | Country | City | Index Score (New York=100) | Rank Movement |
---|---|---|---|---|
#133 | 🇸🇾 Syria | Damascus | 25 | -1 |
#132 | 🇺🇿 Uzbekistan | Tashkent | 30 | -1 |
#131 | 🇰🇿 Kazakhstan | Almaty | 34 | -1 |
#129(t) | 🇦🇷 Argentina | Buenos Aires | 35 | -4 |
#129(t) | 🇵🇰 Pakistan | Karachi | 35 | -2 |
#128 | 🇻🇪 Venezuela | Caracas | 36 | 5 |
#127 | 🇿🇲 Zambia | Lusaka | 38 | -13 |
#126 | 🇮🇳 India | Chennai | 39 | -1 |
#125 | 🇮🇳 India | Bangalore | 40 | 4 |
#122(t) | 🇮🇳 India | New Delhi | 42 | 1 |
Source: EIU. New York City is index baseline (score = 100). Ties in index score values are denoted by (t).
Three Indian cities dominate the cheapest cities ranking due to a combination of low wages and high levels of income inequality, preventing any price increases.
Meanwhile, political and economic turmoil is a common denominator among the cheapest cities outside of South Asia. For example, the Syrian Civil War resulted in an economic collapse, leading to high inflation and a downward spiral in value for the Syrian pound.
A Spanner in the Works
The COVID-19 pandemic is estimated to cost the global economy up to $2 trillion in 2020, so while governments attempt to boost the economy, many are concerned about higher inflation rates spreading across the world.
With a recession becoming more likely, uncertainty around real estate prices will heighten for every city, regardless of their cost of living ranking.
As we navigate chaotic and uncertain times, the next cost of living survey could look very different to today—the most important question will be how permanent the damaging effects of the pandemic will be.
Environment
Visualized: Air Quality and Pollution in 50 Capital Cities
This visual compares air quality in 50 capital cities around the world by average PM2.5 concentrations in 2022.

Comparing Air Quality and Pollution in 50 Capital Cities
We know bad air quality when we breathe it in—but how does it measure and compare across different cities?
To assess air quality, agencies measure the amount of particulate matter in an area to arrive at a number the resident population is breathing in over a period of time.
In this case, Planet Anomaly visualized the concentration of PM2.5 (fine particulate matter) in 50 select capital cities across the globe, using data from IQAir’s 2022 World Air Quality Report.
The report applied population-based adjustments to standardize its results and calculated an annual average of the data. If a city exceeded the WHO safety guideline of 5 micrograms per cubic meter (μg/m³) for annual average PM2.5 levels, it implied potential health risks for its residents.
Ranked: Capital Cities With the Best and Worst Air Quality
At the top of the list with the best air quality, Canberra, the capital of Australia, had an average PM2.5 level of 2.8 μg/m³ in 2022. Vehicle emissions and dust storms are the few sources of air pollutants in the city.
However, while Canberra did well in 2022, it had some of the worst air quality in 2020 when bushfire smoke blackened the skies.
Here’s the full list of all 116 capital cities measured by IQAir’s report, ranked by air quality from best to worst.
Rank | City | Country | Region | 2022 Average PM2.5 Concentration |
---|---|---|---|---|
1 | Canberra | 🇦🇺 Australia | Oceania | 2.8 |
2 | Hamilton | 🇧🇲 Bermuda | North America | 3.0 |
3 | Reykjavik | 🇮🇸 Iceland | Europe | 3.3 |
4 | San Juan | 🇵🇷 Puerto Rico | North America | 3.3 |
5 | Noumea | 🇳🇨 New Caledonia | Oceania | 3.5 |
6 | Saint George’s | 🇬🇩 Grenada | Central America | 3.8 |
7 | Tallinn | 🇪🇪 Estonia | Europe | 4.8 |
8 | Port of Spain | 🇹🇹 Trinidad & Tobago | Central America | 5.0 |
9 | Helsinki | 🇫🇮 Finland | Europe | 5.5 |
10 | Cape Town | 🇿🇦 South Africa | Africa | 6.7 |
11 | Ottawa | 🇨🇦 Canada | North America | 6.8 |
12 | Stockholm | 🇸🇪 Sweden | Europe | 6.8 |
13 | Oslo | 🇳🇴 Norway | Europe | 6.9 |
14 | Paramaribo | 🇸🇷 Suriname | South America | 7.0 |
15 | Dublin | 🇮🇪 Ireland | Europe | 7.1 |
16 | La Paz | 🇧🇴 Bolivia | South America | 7.3 |
17 | Lisbon | 🇵🇹 Portugal | Europe | 7.5 |
18 | San Jose | 🇨🇷 Costa Rica | Central America | 7.9 |
19 | Phnom Penh | 🇰🇭 Cambodia | Asia | 8.3 |
20 | Vaduz | 🇱🇮 Liechtenstein | Europe | 8.3 |
21 | Copenhagen | 🇩🇰 Denmark | Europe | 8.7 |
22 | Luanda | 🇦🇴 Angola | Africa | 8.8 |
23 | Managua | 🇳🇮 Nicaragua | Central America | 8.9 |
24 | Panama | 🇵🇦 Panama | Central America | 9.0 |
25 | Tokyo | 🇯🇵 Japan | Asia | 9.2 |
26 | Madrid | 🇪🇸 Spain | Europe | 9.5 |
27 | Kyiv | 🇺🇦 Ukraine | Europe | 9.5 |
28 | London | 🇬🇧 UK | Europe | 9.6 |
29 | Washington | 🇺🇸 U.S. | North America | 9.8 |
30 | Taipei | 🇹🇼 Taiwan | Asia | 9.9 |
31 | Amsterdam | 🇳🇱 Netherlands | Europe | 10.1 |
32 | Tegucigalpa | 🇭🇳 Honduras | Central America | 10.2 |
33 | Vienna | 🇦🇹 Austria | Europe | 10.5 |
34 | Bern | 🇨🇭 Switzerland | Europe | 10.5 |
35 | Brussels | 🇧🇪 Belgium | Europe | 10.6 |
36 | Moscow | 🇷🇺 Russia | Europe | 10.8 |
37 | Budapest | 🇭🇺 Hungary | Europe | 11.2 |
38 | Montevideo | 🇺🇾 Uruguay | South America | 11.3 |
39 | Nairobi | 🇰🇪 Kenya | Africa | 11.5 |
40 | Podgorica | 🇲🇪 Montenegro | Europe | 11.8 |
41 | Prague | 🇨🇿 Czech Republic | Europe | 11.9 |
42 | Berlin | 🇩🇪 Germany | Europe | 12.6 |
43 | Rome | 🇮🇹 Italy | Europe | 12.6 |
44 | Paris | 🇫🇷 France | Europe | 12.7 |
45 | Georgetown | 🇬🇾 Guyana | South America | 12.7 |
46 | Singapore | 🇸🇬 Singapore | Asia | 13.3 |
47 | San Salvador | 🇸🇻 El Salvador | Central America | 13.4 |
48 | Bratislava | 🇸🇰 Slovakia | Europe | 13.4 |
49 | Pristina | 🇽🇰 Kosovo | Europe | 13.7 |
50 | Ankara | 🇹🇷 Türkiye | Asia | 14.0 |
51 | Buenos Aires | 🇦🇷 Argentina | South America | 14.2 |
52 | Hong Kong | 🇭🇰 Hong Kong SAR | Asia | 14.4 |
53 | Tirana | 🇦🇱 Albania | Europe | 14.5 |
54 | Vilnius | 🇱🇹 Lithuania | Europe | 14.5 |
55 | Metro Manila | 🇵🇭 Philippines | Asia | 14.6 |
56 | Bogota | 🇨🇴 Colombia | South America | 15.1 |
57 | Warsaw | 🇵🇱 Poland | Europe | 15.3 |
58 | Kinshasa | 🇨🇩 DRC | Africa | 15.5 |
59 | Ljubljana | 🇸🇮 Slovenia | Europe | 16.2 |
60 | Tbilisi | 🇬🇪 Georgia | Europe | 16.3 |
61 | Nicosia | 🇨🇾 Cyprus | Europe | 16.4 |
62 | Bucharest | 🇷🇴 Romania | Europe | 17.1 |
63 | Kuala Lumpur | 🇲🇾 Malaysia | Asia | 17.6 |
64 | Algiers | 🇩🇿 Algeria | Africa | 17.8 |
65 | Bangkok | 🇹🇭 Thailand | Asia | 18.0 |
66 | Seoul | 🇰🇷 South Korea | Asia | 18.3 |
67 | Guatemala City | 🇬🇹 Guatemala | Central America | 18.5 |
68 | Baku | 🇦🇿 Azerbaijan | Asia | 18.9 |
69 | Sofia | 🇧🇬 Bulgaria | Europe | 19.1 |
70 | Athens | 🇬🇷 Greece | Europe | 19.2 |
71 | Tel Aviv-Yafo | 🇮🇱 Israel | Middle East | 19.5 |
72 | Dakar | 🇸🇳 Senegal | Africa | 20.4 |
73 | Colombo | 🇱🇰 Sri Lanka | Asia | 20.9 |
74 | Astana | 🇰🇿 Kazakhstan | Asia | 21.4 |
75 | Ashgabat | 🇹🇲 Turkmenistan | Asia | 21.6 |
76 | Mexico City | 🇲🇽 Mexico | North America | 22.1 |
77 | Belgrade | 🇷🇸 Serbia | Europe | 22.1 |
78 | Zagreb | 🇭🇷 Croatia | Europe | 22.4 |
79 | Abidjan | 🇨🇮 Ivory Coast | Africa | 22.5 |
80 | Chisinau | 🇲🇩 Moldova | Europe | 22.6 |
81 | Antananarivo | 🇲🇬 Madagascar | Africa | 23.7 |
82 | Yangon | 🇲🇲 Myanmar | Asia | 24.3 |
83 | Lusaka | 🇿🇲 Zambia | Africa | 24.6 |
84 | Lima | 🇵🇪 Peru | South America | 25.6 |
85 | Santiago | 🇨🇱 Chile | South America | 25.8 |
86 | Skopje | 🇲🇰 North Macedonia | Europe | 26.6 |
87 | Vientiane | 🇱🇦 Laos | Asia | 27.6 |
88 | Bishkek | 🇰🇬 Kyrgyzstan | Asia | 29.0 |
89 | Beijing | 🇨🇳 China | Asia | 29.8 |
90 | Accra | 🇬🇭 Ghana | Africa | 30.1 |
91 | Ulaanbaatar | 🇲🇳 Mongolia | Asia | 30.6 |
92 | Addis Ababa | 🇪🇹 Ethiopia | Africa | 31.3 |
93 | Yerevan | 🇦🇲 Armenia | Asia | 31.4 |
94 | Sarajevo | 🇧🇦 Bosnia Herzegovina | Europe | 32.4 |
95 | Tashkent | 🇺🇿 Uzbekistan | Asia | 33.5 |
96 | Tehran | 🇮🇷 Iran | Asia | 36.1 |
97 | Jakarta | 🇮🇩 Indonesia | Asia | 36.2 |
98 | Kampala | 🇺🇬 Uganda | Africa | 39.6 |
99 | Hanoi | 🇻🇳 Vietnam | Asia | 40.1 |
100 | Islamabad | 🇵🇰 Pakistan | Asia | 40.6 |
101 | Kathmandu | 🇳🇵 Nepal | Asia | 40.7 |
102 | Doha | 🇶🇦 Qatar | Middle East | 41.8 |
103 | Kigali | 🇷🇼 Rwanda | Africa | 44.0 |
104 | Khartoum | 🇸🇩 Sudan | Africa | 44.6 |
105 | Riyadh | 🇸🇦 Saudi Arabia | Middle East | 46.2 |
106 | Abuja | 🇳🇬 Nigeria | Africa | 46.5 |
107 | Cairo | 🇪🇬 Egypt | Africa | 47.4 |
108 | Dushanbe | 🇹🇯 Tajikistan | Asia | 47.7 |
109 | Abu Dhabi | 🇦🇪 UAE | Middle East | 48.0 |
110 | Kuwait City | 🇰🇼 Kuwait | Middle East | 57.5 |
111 | Ougadougou | 🇧🇫 Burkina Faso | Africa | 63.0 |
112 | Dhaka | 🇧🇩 Bangladesh | Asia | 65.8 |
113 | Manama | 🇧🇭 Bahrain | Middle East | 66.6 |
114 | Baghdad | 🇮🇶 Iraq | Asia | 86.7 |
115 | New Delhi | 🇮🇳 India | Asia | 89.1 |
116 | N’Djamena | 🇹🇩 Chad | Africa | 89.7 |
Hamilton, Bermuda (3.8 μg/m³) and Reykjavik, Iceland (3.3 μg/m³) rank second and third respectively, followed by three more capitals on island nations. In fact, nine of the top 10 capitals are situated directly on a coastline and take advantage of ocean breezes that can act as air filters.
Ranked 8th, the Port of Spain (capital of Trinidad & Tobago) is the last city whose air quality is considered safe (5.0 μg/m³) by the WHO.
From a broader perspective, fewer than 10% of all countries have air quality that meets safety guidelines.
Meanwhile, at the bottom of the list with the worst air quality, Chad’s capital city N’Djamena, recorded a PM2.5 concentration of nearly 90 μg/m³ per day in 2022—almost 18x the recommended WHO safety guideline.
Air Quality Correlates With Countries’ Income Levels
Perhaps the most striking feature of the rankings is how air quality worsens with countries that are in the low and middle-income categories and improves in high income countries.
As an example, compare the distribution of the ranks of capital cities in Asia (generally lower and middle income countries) versus capitals in Europe (general high income countries).
Air Quality Ranks | Cities in Asia | Cities in Europe |
---|---|---|
Top 20 | 3.33% | 20.51% |
20–40 | 6.67% | 28.21% |
40–60 | 13.33% | 28.21% |
60–80 | 23.33% | 17.95% |
80–100 | 36.67% | 5.13% |
100–116 | 16.67% | 0.00% |
The majority of European capital cities are ranked 20–60 versus Asian capitals which are mostly ranked 60–100.
Lower and middle income countries have larger structural economic concerns and many of them are still in the process of transitioning away from polluting materials that affect air quality.
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