The Hungarian capital Budapest is not among the world’s 100 most expensive cities, according to a global survey by the London-based Economic Intelligence Unit.
A total of 133 cities were placed under analysis this year, with Singapore again being named the world’s most expensive city for the third year in a row – compared to New York, the city-state has a price index of 116.
The survey assembles a 160-item package of goods and services, for which it calculates an average price to rank the living cost in dollars for each global metropolis.
Remarkably, Paris is the only eurozone city among the top ten most expensive. The French capital has a price average of 107 compared to New York City. In addition to Paris and Singapore, the other cities featured among the world’s ten most expensive are Zürich, Hong Kong, Geneva, London, New York, Copenhagen, Seoul and Los Angeles.
Budapest, ranked 107th, or three places behind its previous position, is among the cheapest one-third on the global list According to EIU’s calculations, the cost of living in the Hungarian capital is slightly over half – 55% – of the expense of residing in New York City. In a regional comparison, the Polish capital Warsaw (95th; 59% of New York living costs) and the Czech capital Prague (88th; 62%) of New York living costs) are both more expensive than Budapest.
Ranked 122nd (47% of the New York average), the Romanian capital Bucharest is the cheapest EU capital on the list, not far in front of Zambia’s Lusaka, which is the world haven of low-cost living with its 41% price index.