New York is officially one of the ten most expensive cities in the world
The Economist Intelligence Unit (EIU) just released this year’s Global Cost of Living Index and, surprise, surprise, New York is on the list of the most expensive cities in the world to live in. The only thing that shocks us is that our city has moved up to sixth place and has not reached the first place in the standings.
The Israeli city of Tel Aviv came in first, followed by Paris and Singapore (tied for numbers two and three), Zurich, Hong Kong and, as mentioned, New York. The top ten list is completed by Geneva, Copenhagen, Los Angeles and Osaka. Which means New York is actually the most expensive city in the United States of America. We are lucky.
In last year’s world rankings, the Big Apple came in seventh, tied with Geneva. So we have evolved!
How did the index come about, you ask? Those responsible for the survey track the cost of living in 173 cities (that’s 40 more than last year!)
As the official report explains, which can be downloaded here, COVID-19 has largely affected how the list has come about as the cost of living has increased dramatically around the world. “Although most economies are now recovering as vaccines are rolled out, major cities around the world still experience frequent increases in cases, causing further social restrictions,” the survey read. “In many cities, this has disrupted the supply of goods, leading to shortages and higher prices.”
According to the study, in our city in particular, the price of clothing has increased very noticeably.
In true New York fashion, however, as annoyed as we are that we have to constantly shell out what seems like huge sums of money to get by, we couldn’t be prouder to call ourselves New Yorkers. All we can really do is try to find some real estate to call home that isn’t too much Dear. To help you with this quest, you might want to check out this list of the most expensive neighborhoods in New York City right now. Good luck!