The Most Expensive City in the World to Live In

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.

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.

ALSO READ: 43 of the Strangest Town Names in America

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.

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.

Source: Read Full Article