Inflation has increased the cost of living in most parts of the world. Beyond that, some cities are expensive because they are in parts of the world where costs have been traditionally high. This is usually because these metros are far from where the goods and services people use originate. Hamilton tops the list. It is on the relatively remote island of Bermuda.
[in-text-ad]
Numbeo has released its Cost of Living Index 2023. It measures rent, food and restaurant prices, and it covers 540 metropolitan areas. Each city receives an index score. The primary reason Hamilton’s 142.1 score is so high is the cost of food.
Several cities in Switzerland make up the very top of the list. These are Basel (127.0), Zurich (120.8), Lausanne (119.7), Zug (118.5) and Bern (116.1). Much of the balance of the top of the list includes U.S. cities, including Santa Barbara (112.2), Honolulu (102.7) and New York (100.0). (See if these are among the richest cities in America.)
At the bottom of the list are several metros in underdeveloped countries. The 540th city is Peshawar, Pakistan (15.1). Multan (15.6), Faisalabad (16.1) and Rawalpindi (16.4) are among the seven lowest-ranked cities that are in Pakistan. The bottom also includes many cities in India.
Notably, the highest-ranked cities are among those with the highest education and income levels in the world, and metros that are safest for their populations. The lowest-ranked cities are at the bottom of the list by the same measure.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.